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Athens News Agency: News in English, 10-05-26

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Recognition of college graduates' professional rights
  • [02] Greek bond market closing report
  • [03] Deficit at 8.1% in '10, OECD
  • [04] Merchant fleet up 5.6% in Mar.
  • [05] Stocks recover strongly

  • [01] Recognition of college graduates' professional rights

    (ANA-MPA) -- A presidential decree incorporating into the Greek law Directive 2005/36/EC, which obliges Greece to recognise the professional rights of European affiliated college graduates, was made public on Tuesday.

    This development deals with the recognition of the diplomas awarded by EU universities to European citizens regardless of where they have completed their studies (universities or collaborating colleges), creating a new situation for younger generations of Greeks, a College Owners Association statement underlined on Wednesday.

    The incorporation of the directive does not concern the academic recognition of college graduate diplomas.

    [02] Greek bond market closing report

    (ANA-MPA) -- Turnover in the Greek electronic secondary bond market totaled 124 million euros on Wednesday, of which 80 million euros were buy orders and the remaining 44 million were sell orders. The 17-year benchmark bond (March 20, 2026) was the most heavily traded security with a turnover of 22 million euros. (ANA-MPA)

    The yield spread between the 10-year Greek and German benchmark bonds shrank to 517 basis points, from 526 bps on Tuesday, with the Greek bond yielding 7.81 pct and the German Bund 2.64 pct.

    In interbank markets, interest rates continued moving upwards. The 12-month Euribor rate was 1.06 pct, the six-month rate 1.10 pct, the three-month 1.10 pct and the one-month 1.05 pct. (ANA-MPA)

    [03] Deficit at 8.1% in '10, OECD

    (ANA-MPA) -- The Greek economy is projected to shrink by 3.7 pct this year and by 2.5 pct in 2011, a report by the Organisation for Economic Cooperation and Development (OECD) stated on Wednesday. The Paris-based organisation, in a report on the economic outlook of its members, projected that Greek unemployment would jump to 12.1 pct this year, up from 9.5 pct in 2009, rising further to 14.3 pct in 2011.

    The inflation rate was projected at 3.0 pct this year, falling to 0.3 pct in 2011, pressured by reduced economic activity and rising unemployment in the country. (ANA-MPA)

    The country‚s fiscal deficit is projected to fall significantly to 8.1 pct of GDP this year and to 7.1 pct in 2011, down from a double-digit 13.5 pct in 2009. (ANA-MPA)

    [04] Merchant fleet up 5.6% in Mar.

    (ANA-MPA) -- Greece's merchant marine fleet (vessels exceeding 100 dwt) grew by 5.6 pct in March, compared with the same month in 2007, totaling 2,128 vessels, the Hellenic Statistical Authority announced on Wednesday.

    The statistical service, in a report, said the Greek merchant marine fleet had fallen by 5.6 pct in the period from March 2004 to March 2007. (ANA-MPA)

    [05] Stocks recover strongly

    Stocks rebounded strongly at the Athens Stock Exchange on Wednesday, recovering a big part of the previous day‚s losses, in line with a positive trend in international markets.

    The composite index of the market rose 2.98 pct to end at 1,585.75 points, with turnover jumping to 302.936 million euros.

    The FTSE 20 index rose 3.76 pct, the FTSE 40 index ended 1.22 pct higher and the FTSE 80 index ended 1.07 pct higher. The Health (12.21 pct), Food (6.43 pct) and Banks (4.88 pct) sectors scored the biggest percentage gains of the day, while Commerce (2.59 pct) and Media (3.20 pct) suffered losses.

    Broadly, decliners led advancers by 98 to 78 with another 50 issues unchanged. Klonatex (20 pct), Alapis (15.38 pct) and Elgeka (11.39 pct) were top gainers, while Imperio (19.23 pct), Minoan Lines (13.38 pct) and Edrasi (12.50 pct) were top losers.


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