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Athens News Agency: News in English, 10-12-08

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

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

CONTENTS

  • [01] Aspis group founder Psomiadis arrested on fraud, money laundering charges
  • [02] House of Letters and Arts
  • [03] ASE opening: Big decline 

  • [01] Aspis group founder Psomiadis arrested on fraud, money laundering charges

    (ANA-MPA) -- Well-known local banking and insurance executive Pavlos Psomiadis, the founder of the teetering Athens-based Aspis group of companies, was arrested late Tuesday evening following the same-day issuance of an arrest warrant on felony fraud and money laundering charges.

    he charges stem from an indictment involving the Aspis Capital subsidiary and a related lawsuit by 65 investors, who have claimed that Psomiadis and his associates essentially transferred assets and capital into privately held companies.

    judicial magistrate ordered the arrest after citing a risk that the embattled Psomiadis may flee overseas. He is expected to face a first instance prosecutor on Wednesday.

    More details on the subscriber's page of ANA-MPA | Subscription request form

    

    [02] House of Letters and Arts

    ANA-MPa/The Onassis Foundation's "House of Letters and Arts" was inaugurated late Tuesday in a ceremony attended by President of the Republic Karolos Papoulias.

    The "House of Arts and Letters' is a multiplex facility that will project modern culture, support Greek artists and also contribute to the creation of international cooperations on culture issues.ana-mpa

    Onassis Foundation president Antonis Papadimitriou stressed in his opening speech that the idea was inspired by the late shipping magnate Aristotle Onassis himself.

    More details on the subscriber's page of ANA-MPA | Subscription request form

    

    [03] ASE opening: Big decline

    Equity prices were declining at the opening of trade on Wednesday on the Athens Stock Exchange (ASE), with the basic share price index down 1.25 percent, standing at 1,514.59 points at 11:15 am, and turnover at 13.186 million euros.

    Individual sector indices were moving downwards, with the biggest gains in Commerce, up 2.25 percent; and Chemicals, up 1.58 percent.

    The biggest losses were in Construction, down 1.68 percent, and Banks, down 1.75 percent.

    The FTSE/ASE 20 index for blue chip and heavily traded stocks was down 1.48 percent, the FTSE/ASE MID 40 index was down 0.68 percent, and the FTSE/ASE-80 small cap index was down 0.22 percent.

    Of the stocks traded, 19 were up, 45 were down, and 18 were unchanged.

    More details on the subscriber's page of ANA-MPA | Subscription request form


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