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Athens News Agency: Daily News Bulletin in English, 99-04-06

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

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

CONTENTS

  • [01] Simitis: Cooperation with NATO,contacts with Yugoslabia necessary
  • [02] G. Papandreou discusses Kosovo crisis with Talbott
  • [03] Athens, Ankara agree on proposal for equal burden among NATO states for Kosovars
  • [04] Spanish-Greek contacts over aid to Kosovo
  • [05] Balkan personalities appeal for peace
  • [06] G. Papandreou meets with Omonia group's presidium
  • [07] Constantopoulos meeting in Sofia with Bulgarian Socialist leader Parvanov
  • [08] More NATO weapons flow through Thessaloniki
  • [09] Local opposition to plans for hosting Kosovars
  • [10] Regional official on 3rd CSF for central Macedonia
  • [11] Torchlight marches tomorrow across Greece against NATO bombings
  • [12] KKE against stationing of Greek soldiers outside Greece
  • [13] Christodoulos to Washington: 'Freedom without justice is a monstrosity'
  • [14] Bourse falls in nervous trading
  • [15] Another OTE stock flotation announced
  • [16] Despec results
  • [17] Piraeus Bank president dismisses press reports
  • [18] Sfakianakis results
  • [19] Athens dismisses repercussions on tourism from crisis
  • [20] Advertising pie for first part of '99
  • [21] Athens Foreign Exchange

  • [01] Simitis: Cooperation with NATO,contacts with Yugoslabia necessary

    Athens, 06/04/1999 (ANA)

    Prime Minister Costas Simitis last night stressed that Athens' actions must proceed in cooperation with other NATO members, although contact with Yugoslavia is also necessary.

    He was speaking in a televised address to the nation regarding the worsening situation in Kosovo.

    "Our actions must proceed in cooperation with the other NATO states and in contact with the Serbs. Otherwise, the only thing we will accomplish is to alienate ourselves from all parties involved," he said.

    Greece has stated from the very beginning that it will not get involved in military operations, Mr. Simitis reiterated.

    "...Because we are neighbours with Yugoslavia. Because we want a political solution. From the very first day, we have declared that Yugoslavia must provide a wide ranging autonomy to Kosovo's residents. Yugoslavia must respect their human rights and promote a peaceful settlement of differences. We condemn the policy of ethnic cleansing followed by Serbia."

    "Any fear by Greece is unjustified. We will not get involved in military confrontations. Greece belongs in a zone of stability and in Europe's power structure. It remains in this zone," he said, adding: "We are against any act that could lead to a change of borders in the Balkans."

    "We will ensure a future of development, stability and prosperity for our country if we preserve our sensible course of cooperation with the other EU and NATO countries, as well as the course of understanding and contact with the Balkan countries," he added.

    Mr. Simitis said the "Greek government has acted both within NATO's framework and that of the European Union for the effective confrontation of the refugee problem."

    Regarding the refugee crisis, he said decisions taken over the past few days are the "result of our initiatives."

    "As far as we are concerned the basic aim should be for the refugees to remain near their country of origin. All European Union member-states are obliged to contribute according to their strength and ability."

    "We pay special attention to the issue of the Greek minority in Albania, to the protection of the property of the Greek ethnic minority in that country. Albania's leadership has reassured us that its (Greek ethnic minority) rights would not be infringed upon.

    "The continuing use of military force cannot lead to a permanent solution. We repeatedly have proposed the examination of the possibilities of a peaceful dialogue. We are looking for a political solution, we demand respect for human life and we aim at re-establishing stability in the region. We are friends with the peoples who are suffering."

    Mr. Simitis noted that Greece also lives with Turkey's aggressive behaviour in the Aegean. "A large part of Cyprus is under Turkish occupation. In order to confront the dangers in the region, we must cooperate with the EU member-states and safeguard our role in NATO."

    "We are not alone in the world. We operate in specific conditions, which are often formulated by others. We need to balance carefully our national interest. Turkey is looking for the opportunity to cover the void of a possible Greek deviation from devel opments. We will not allow such a course."

    He also said Greece "is a country which has conquered, with struggles and sacrifices, peace, stability and economic and social progress. The Greek people demand we safeguard those achievements."

    Meetings : Today, Mr. Simitis will have successive meetings with opposition party leaders, starting with main opposition New Democracy leader Costas Karamanlis and Communist Party of Greece (KKE) Secretary General Aleka Papariga.

    Following these talks, the premier will have separate meetings with former prime ministers.

    Also today, Mr. Simitis will meet with National Defence Minister Akis Tsohatzopoulos to discuss the country's ongoing armaments programme and tomorrow with the government's economic team.

    Reppas : Government spokesman Dimitris Reppas said later that Greece insisted that the problem in Kosovo could not be resolved through military means, but only through political dialogue.

    "(We need) a peaceful solution which will aim at wide-ranging autonomy for Kosovo in the framework of the borders of Yugoslavia," Mr. Reppas said.

    He said support for the position that no border changes be made was increasing among the allies.

    The refugee problem is the most pressing factor now, he added, and Greece is prepared to contribute to relieving the human suffering.

    He did not specify how many refugees Greece would accept, but said it would be "in proportion" and that the Council of Permanent Representatives to the European Union would discuss the issue.

    Alternate Foreign Minister Yiannos Kranidiotis was likely to attend that meeting, he said. Greece was contributing two C-130 transport planes, on the request of Skopje, to ship refugees to countries which have said they will accept them, such as Norway.

    Greece is also looking at how to provide humanitarian aid to Kosovo, Montenegro and Serbia, Mr. Reppas said.

    Cypriot Foreign Minister Ioannis Kasoulides will be in Athens today to discuss Nicosia's contribution to the aid effort.

    However, he said Greece would not under any circumstances agree to refugees being sheltered in the Turkish-occupied areas of Cyprus, as proposed by Turkish Cypriot leader Rauf Denktash.

    Greece will deal with the issue of sending troops to a NATO relief force when the Alliance decides to increase the number of troops in Albania, he said.

    Greece's troops in the neighbouring country, part of a multinational peacekeeping force, have already contributed to the efforts to relieve the weight of the refugees, he said.

    He ruled out Greece's participation in any ground operations, stressing that to date there had been no request to allow the transport of troops through its territory.

    "The representatives of many governments have also ruled out the possibility of ground operations," he noted.

    Referring to reported travel advisories issued by France, Italy and the US, Mr. Reppas said the government had reacted strongly to the advisories.

    "Our life here is proceeding completely normally, as we are not part of the problem and as such such initiatives are completely uncalled for," he said.

    "Greece is a force of stability in the region and consequently must bolster its role and should not be undermined," he said.

    Athens protested over the inclusion of Greece in travel advisories issued by those countries, and urged that the warning be revoked in reference to Greece.

    Foreign ministry sources said Foreign Minister George Papandreou on Sunday night instructed Greece's envoys accreditted to those countries to lodge the relevant protests to exclude Greece from the travel advisories issued due to the Yugoslav crisis.

    Referring to a recent wave of protests against the NATO bombings, Mr. Reppas said citizens of Greece had the right to freely express themselves, but also had to behave in a civilised manner and respect the opinions of others.

    ND reaction : In a sharp response, main oposition New Democracy (ND) spokesman Aris Spiliotopoulos said the prime minister "...did not add anything new to what we already knew. He described the self-evident, and in an apologetic way at that."

    Mr. Spiliotopoulos also said "as for Greece's inability to take up an initiative, as Mr. Simitis described, allows us to have a different opinion. We believe that conditions are maturing for a Greek initiative in cooperation with the Balkan countries for the finding of a political solution for the Kosovo conflict.

    "We also estimate that their is room for a diplomatic initiative on the part of Greece in cooperation with our neighbouring countries," he added.

    Athens News Agency

    [02] G. Papandreou discusses Kosovo crisis with Talbott

    Athens, 06/04/1999 (ANA)

    Foreign Minister George Papandreou said yesterday after talks with US Deputy Secretary of State Strobe Talbott regarding the Kosovo crisis that there was no identity of views between the two sides.

    Mr. Papandreou said he had a "frank" discussion with Mr. Talbott during which he expressed Greece's views and conveyed the sentiments of the Greek people concerning NATO military strikes against Yugoslavia, as well as the "need for a speedy end to the war there".

    He stressed that Greece was close to all the Balkan peoples and regarded Serbs, Albanians and Kosovars as friends.

    "We ascertained that there is no identity of views between us," Mr. Papandreou said, adding however, that both Greece and the US attach great importance to their bilateral relations and viewed them as "mutually valuable".

    Mr. Papandreou also referred to Greece's special position as a NATO and European Union member but also a Balkan country very close to the crisis, "which allows us to play a mediating and peacemaking role".

    Noting the humanitarian initiatives undertaken by Greece in connection with the Kosovo crisis, Mr. Papandreou said he had impressed upon Mr. Strobe the need for the EU to exercise a comprehensive development policy in the Balkans based on certain fixed principles, such as respect for existing borders and the fostering of democratic institutions.

    Mr. Papandreou reiterated that Greece would not send troops to take part in NATO's military operations against Yugoslavia but was willing to participate in peaceful operations aimed at protecting refugees and other missions of a humanitarian nature.

    He stressed also that Greece attached "the utmost importance" to the security and territorial integrity of the Former Yugoslav Republic of Macedonia (FYROM), saying that any solution which may eventually be reached for Kosovo should respect existing bor ders.

    Asked by reporters whether the US continued to insist on implementation of the Rambouillet agreement, Mr. Papandreou replied:

    "The basic principles of Rambouillet remain in effect as far as the international community is concerned and of course the United States. This means wide-ranging autonomy for Kosovo within the borders of Yugoslavia and the deployment of a multinational force to implement the peace accord."

    Mr. Papandreou clarified that such a force would not be made up of NATO troops alone but would also be from other countries, including Russia, intimating that the US have now agreed to this.

    Asked whether Mr. Talbott had asked Greece to receive approximately 25,000 refugees from Kosovo, Mr. Papandreou declined to reply directly but confirmed that "talks are being held with our NATO and EU partners with a view to our country also taking in a considerable number of refugees".

    At this point, Mr. Papandreou said Greece would be willing to receive a number of refugees in order to contribute to helping resolve the enormous problem which has been created, but only if there was some understanding and "proportional distribution amo ng the partners".

    Mr. Papandreou said it should also be taken into account that Greece had already taken in some 500,000 Albanian refugees, following previous crises in the neighbouring country, and was in addition hosting a large number of refugees from other countries.

    He added that the issue would be discussed and most likely settled at the extraordinary meetings of EU interior ministers on April 6 and foreign ministers on April 8.

    Mr. Papandreou said he had reiterated to Mr. Talbott the proposal for a temporary ceasefire during the Orthodox Easter this weekend, without any response from the US official.

    Asked whether, after his talks with Mr. Talbott, he saw any end in the near future to NATO's military operations, Mr. Papandreou replied "NATO is awaiting some move from (Yugoslav President Slobodan) Milosevic on the basis of the basic principles which have been set".

    Greek and US delegations headed by Alternate Foreign Minister Yiannos Kranidiotis and Assistant Secretary of State for Population, Refugees and Migration Julia Taft, respectively, also held talks yesterday.

    According to diplomatic sources, Mr. Kranidiotis raised the issue of recent threats by Turkish Cypriot leader Rauf Denktash to settle 5,000 Kosovar refugees in Turkish-occupied Famagusta and Ms Taft gave the assurance that the US would do everything possible to prevent this.

    Contacts with Greek leadership : Mr. Talbott held separate talks yesterday morning with senior foreign and defence ministry officials on Kosovo developments and the refugee problem, sources said.

    Mr. Talbott, who arrived in Athens Sunday evening on a tour of Balkan capitals, met successively with Mr. Papandreou, Mr. Kranidiotis, and National Defence Minister Akis Tsohatzopoulos.

    No statements were made after the meetings. Mr. Talbott was accompanied by US ambassador in Athens Nicholas Burns.

    Athens News Agency

    [03] Athens, Ankara agree on proposal for equal burden among NATO states for Kosovars

    Athens, 06/04/1999 (ANA)

    Greece and Turkey will make a joint proposal to NATO that the alliance members share the financial burden of sheltering refugees from Kosovo, diplomatic sources said yesterday.

    The same sources said the gist of a telephone conversation between Turkish Foreign Minister Ismail Cem and his Greek counterpart George Papandreou on Sunday was that each NATO member take in a proportional number of refugees.

    The financial burden, according to the sources, should be shared, again in proportion, by all NATO members. The two ministers were in touch to coordinate efforts to relieve the refugee crisis and provide humanitarian aid. The government gave three Turkish transport planes permission to cross Greek air space to deliver aid to Skopje and Tirana on Sunday afternoon.

    Athens is considering accepting about 5,000 Kosovar refugees and is also reported to be considering participating in a NATO force to coordinate humanitarian and relief operations in Albania and Skopje.

    Athens News Agency

    [04] Spanish-Greek contacts over aid to Kosovo

    MADRID, 06/04/1999 (ANA)

    Athens has secured Spain's support for the provision of foodstuffs to Kosovo refugees through European agencies.

    Specifically, Agriculture Minister George Anomeritis arrived in Madrid within the framework of regular annual meetings between the two countries' agriculture ministers.

    Spanish Minister Loyola del Palacio promised that Madrid will help directly in promoting Athens' initiative at relevant European agencies.

    The Greek proposal will be tabled at the European Commission today and constitutes an additional possibility of relieving refugees, apart from bilateral efforts, and through European institutions.

    Athens News Agency

    [05] Balkan personalities appeal for peace

    Athens, 06/04/1999 (ANA)

    Several noted personalities from Greece, Romania and Bulgaria yesterday appealed for an immediate cessation of bombings against Yugoslavia and of military operations in Kosovo.

    "We, the citizens of the Balkans, know well and are conscious of the particularity of the area and are strongly concerned about the unforeseen continuation of the war," the appeal read.

    The appeal called for the protection of civilians and the initiation of negotiations that will envisage a wide autonomy of the region and international protection of the frontiers of Yugoslavia.

    It urged practical concern of the international community with the immediate needs of the refugees and thereafter their secure repatriation under international supervision. It also called for the liberation of all the hostages and prisoners of war.

    The appeal went on to request the supply of international economic aid for the restoration of all damages inflicted by the bombing and war attacks in all regions of Yugoslavia.

    The announcement further appealed for the protection of all cultural monuments that were damaged by the bombings of Yugoslavia.

    "We pledge that, together with the intellectuals of the Balkans, we will work with responsibility, to the utmost of our strength for the peaceful co- existence and equality of all the citizens of the region, for making known and promoting the particulari ties of Balkan culture.

    "We call all citizens of the world to protest and oblige their governments so that the war ends immediately.

    "We call all intellectuals of the world to sign this declaration and raise their voices so that the use of military violence ceases, at last, and peace prevails all over the world," the appeal concluded.

    Those who signed the declaration include Manolis Anagnostakis, Theodoros Angelopoulos, Mihai Bubulei, Stefan Danailov, Mircea Dinescu, Iakovos Kambanelis, Maia Morgenstern, Valeri Petrov, Svetlin Roussev, Harry Tavitian, Stefan Tjanev, Mikis Theodorakis and Giorgos Zongolopoulos.

    Athens News Agency

    [06] G. Papandreou meets with Omonia group's presidium

    Athens, 06/04/1999 (ANA)

    Foreign Minister George Papandreou on Monday held talks with the three- member presidium of the ethnic Greek organisation of Albania "Omonia" to exchange views on the wave of Kosovar refugees flooding Albania and the Former Yugoslav Republic of Macedonia (FYROM).

    Mr. Papandreou told reporters he had conveyed to the presidium assurances he had been given by the Albanian government during his recent visit to Tirana, when he informed Albanian President Rexhep Mejdani and Prime Minister Pandeli Majko of Athens' views that Kosovar refugees should not be settled in the south of the country, where the majority of ethnic Greeks live.

    He said the situation in areas of Albania with a high ethnic Greek population was not worrying, adding that Greece expected Albania to keep its promises.

    The "Omonia" representatives stressed the need to avert any demographic "distortion" of minority areas since this could lead to "friction".

    Asked by reporters to put a figure on the number of ethnic Greeks currently living in Albania, the representatives pointed out that no reliable data was available because there had been no census for about 50 years.

    They also expressed displeasure over some reports in the Greek media claiming that ethnic Greek areas were deserted and abandoned.

    Replying to other questions, the representatives said approximately 1,000 Kosovar refugees had already been brought to areas with a large ethnic Greek minority.

    Mr. Papandreou noted at this point that the members of the ethnic Greek community were cooperating well with the refugees "and this illustrates their intention to contribute in a positive manner to help resolve the problem."

    Athens News Agency

    [07] Constantopoulos meeting in Sofia with Bulgarian Socialist leader Parvanov

    SOFIA, 06/04/1999 (ANA - B. Borisov)

    The presidents of the Coalition of the Left and Progress Nikos Constantopoulos and the Bulgarian Socialist Party Georgi Parvanov stressed support for an immediate end to the war in Yugoslavia and a resumption of diplomatic efforts for a peaceful solution in Kosovo.

    The two officials met in Sofia yesterday.

    According to the two politicians, future negotiations must target autonomy for Kosovo within the borders and sovereignty of Yugoslavia.

    Afterwards, Mr. Constantopoulos said protection for minority rights must be safeguarded with the parallel guarantee that existing borders will not be disputed and changed. He said the refugee problem must be handled with a common effort by all countries in accordance with their ability, while the fleeing masses must not be used as an "excuse" to widen war operations.

    The Synaspismos delegation left for Belgrade immediately after the meeting.

    Mr. Constantopoulos was scheduled to arrive in Belgrade lasts night for talks this morning with the Yugoslav leadership. A meeting has also been planned with Yugoslav leader Slobodan Milosevic, but the time has not been released.

    The itinerary for his tour of the rest of the Balkan countries has not been released.

    Athens News Agency

    [08] More NATO weapons flow through Thessaloniki

    Athens, 06/04/1999 (ANA)

    One Greek military source yesterday pointed to the probability that US forces will transport the advanced "Multiple Launch Rocket System" artillery units to the Former Yugoslav Republic of Macedonia (FYROM) via the port of Thessaloniki.

    A military source said the city's port would most likely be used rather than its airport, since the cost of sending the system by air would be much higher.

    In addition, a French vessel yesterday unloaded 16 containers with munitions, all headed for FYROM, while 37 German "Leopard II" main battle tanks are still at the port.

    Athens News Agency

    [09] Local opposition to plans for hosting Kosovars

    Athens, 06/04/1999 (ANA)

    The Greek government's plans to house about 1,500 Kosovo Albanian refugees in Fthiotida prefecture of central Greece has caught local authorities off guard.

    The Fthiotida prefect said after an urgent meeting called to coordinate action yesterday that there were "serious problems" that would complicate the efforts to provide shelter to such a large number of refugees.

    He cited these problems as being a lack of sanitary and health care facilities. He said there were concerns the local hospital would not be able to meet the specific health needs of the refugees.

    He also expressed the view that the tourist region of Kamena Vourla was not the best place to shelter the refugees.

    The mayor of Kamena Vourla has already expressed his objections and was due to call an emergency meeting of the local council last night, he said.

    The ministry on Sunday night notified authorities to begin preparing National Tourist Organisation (EOT) camp grounds.

    Prefectural and regional authorities have began repairing damage to camping sites in Ano Kallithea and Aspronerio, which have a capacity of about 400 people. Sixty tents have already been set up.

    Athens News Agency

    [10] Regional official on 3rd CSF for central Macedonia

    Athens, 06/04/1999 (ANA)

    The secretary general of central Macedonia yesterday expressed optimism that the region will receive some two trillion drachmas it is claiming from the 3rd Community Support Framework (CSF).

    Addressing yesterday's regional council meeting which focused on the Regional Development Plan for the 2000-2006 period, Haralampos Sofianos said the funds claimed by the region correspond to about 22 per cent of funds secured by Greece from the 3rd CSF .

    Athens News Agency

    [11] Torchlight marches tomorrow across Greece against NATO bombings

    Athens, 06/04/1999 (ANA)

    Several political youth organisations yesterday announced torchlight processions scheduled for tomorrow in 10 Greek cities in protest of the continuing bombing of Yugoslavia during Easter Holy Week.

    "NATO's decision to deprive peace of a minimal chance by continuing the bombing of civilians even during the Catholic and Orthodox Holy Week, although it 'respected' Ramadan in Iraq's case, constitutes one more blatant abuse against international law, h uman rights and civilisation," the release read.

    The protest rallies will take place at 8 p.m. in Athens, Thessaloniki, Patra, Ioannina, Irakleio, Komotini, Alexandroupoli, Larisa, Kalamata, Rhodes and outside the NATO base of Aktio in Preveza.

    Athens News Agency

    [12] KKE against stationing of Greek soldiers outside Greece

    Athens, 06/04/1999 (ANA)

    Communist Party of Greece (KKE) Aleka Papariga yesterday stressed that no Greek soldiers should be send outside the country's boundaries, while the PASOK government's decision to do just that will transform the army to an occupation force.

    "When a soldier goes out of his land's borders, and for that matter under the auspices of NATO, they transform him into an enemy of the people," she said.

    Athens News Agency

    [13] Christodoulos to Washington: 'Freedom without justice is a monstrosity'

    Athens, 06/04/1999 (ANA)

    Archbishop of Athens and All Greece Christodoulos sharply critisised the US government yesterday as exercising an autocratic rule in terms of international relations, stressing that Washington "thinks it has the right to intervene and create a new order o f things."

    Speaking to an audience at Athens' Evangelismos Hospital, Christodoulos said "free-dom without justice is a monstrosity of justice, while justice without truth is also a monstrosity of justice".

    Athens News Agency

    [14] Bourse falls in nervous trading

    Athens, 06/04/1999 (ANA)

    Equity prices ended sharply lower in nervous trading on the Athens Stock Exchange yesterday, resuming their downward trend following Friday's spectacular rebound

    The general index ended 2.59 percent lower to 3,218.06 points.

    Turnover narrowed below the 100 billion drachmas level for the first time in months as investors remained on the sidelines ahead of developments in Kosovo and the Easter holidays.

    Turnover totalled 80.832 billion drachmas and volume was 15,455,129 shares.

    Traders said the Kosovo crisis had already hit sentiment among domestic investors, who control 60 percent of the market's daily turnover. Foreign investors, however, remained active seeking opportunities.

    A wave of international investment firms, such as Merrill Lynch, Warburg Dillon Read, Credit Suisse First Boston, ING Barings, Morgan Stanley reaffirmed foreign institutional investors' confidence in the Greek economy and the market's outlook.

    They said that recent price falls created buying opportunities in certain market sectors.

    Sector indices suffered losses. Banks fell 1.89 percent, Leasing dropped 3.13 percent, Insurance plunged 4.93 percent, Investment ended 3.58 percent off, Construction eased 4.22 percent, Industrials fell 3.78 percent, Miscellaneous ended 3.56 percent down and Holding fell 3.66 percent.

    The parallel market index for small cap companies ended 1.22 percent off, while the FTSE/ASE 20 index dropped 1.91 percent to 2,014.66. Broadly, decliners led advancers by 243 to 39 with another 5 issues unchanged.

    Veterin, Thessaliki, National Bank of Greece and Piraeus Bank were the most heavily traded stocks.

    Kleeman shares ended 66.1 percent up, followed by Veterin with a 61.8 percent gain on their first day of trading on the Athens bourse. Ippotour, Endysi, Sportsman, Xifias, Boutaris and Hadzioannou also hit big percentage gains.

    Proodeftiki, Gnomon, Ionian Bank, Alcar-Aemete, Halyps Cement, Tzirakian, Loulis, Ionian Hotels, Ideal and Sanyo hit the day's 8.0 percent limit down.

    National Bank ended at 20,650 drachmas, Alpha Credit Bank at 20,130, Ergobank at 21,800, Ionian Bank at 17,945, Titan Cement at 22,700, Hellenic Petroleum at 2,250, Intracom at 17,000, Minoan Lines at 6,700, Panafon at 7, 585 and Hellenic Telecoms at 6,960.

    Athens News Agency

    [15] Another OTE stock flotation announced

    Athens, 06/04/1999 (ANA)

    State-owned Hellenic Telecommunications Organisation (OTE) will float 14 percent of its shares by July in the third and final phase of denationalisation of 49 percent of its stock, it was decided yesterday.

    The decision was taken at a meeting chaired by national economy and finance minister Yiannos Papantoniou and attended by transport and communications minister Tassos Mantelis and finance deputy minister Nikos Christodoulakis.

    The flotation will take place simultaneously on the Athens and New York Stock Exchanges.

    Athens News Agency

    [16] Despec results

    Athens, 06/04/1999 (ANA)

    Despec Hellas, a listed office equipment company,reported a spectacular 106 percent rise in its first quarter profits to 142 million drachmas compared with the same period last year. Its consolidated turnover totalled 2.17 billion drachmas, up 73.5 perc ent from 1998.

    A company statement attributed the improved results to the company's strengthened position in the market of computer supplies and office equipment following the signing of new partnerships.

    Despec forecasts that its 1999 consolidated turnover will reach 11.5 billion drachmas while pre-tax profits will rise to 800 million drachmas.

    Athens News Agency

    [17] Piraeus Bank president dismisses press reports

    Athens, 06/04/1999 (ANA)

    Bank of Piraeus chairman Mihalis Sallas dismissed as unfounded and malicious press reports that the bank's vice-chairman, Iacovos Georganas, had resigned.

    Mr. Sallas, accompanied by Mr. Georganas, visited NatWest's main offices today to brief employees on the group's basic directions and targets.

    Following the takeover of NatWest, Piraeus Bank added five new branches to its network along with assets totalling 260 billion drachmas.

    Athens News Agency

    [18] Sfakianakis results

    Athens, 06/04/1999 (ANA)

    Sfakianakis, Suzuki's authorised dealer in Greece, reported a 39 per cent rise in its first quarter car sales to 2,510 units and a 27.5 percent increase in its turnover to 10.2 billion drachmas, compared with the same period last year.

    Suzuki car sales totalled 10.031 units in 1998, a rise of 17 percent from the previous year, while turnover totalled 44.9 billion drachmas, a 22 percent increase, and net profits rose 10 percent to 4.5 billion drachmas.

    Sfakianakis is expected to begin this month delivery of the first of a total 96 trolley-bus, manufactured in a joint venture with Belgian bus manufacturer Vanhool and British-French energy group Alsthom.

    Athens News Agency

    [19] Athens dismisses repercussions on tourism from crisis

    Athens, 06/04/1999 (ANA)

    The government stood again yesterday by its earlier prediction that according to all indications tourism will post an increase this year.

    Development Minister Evangelos Venizelos was replying to questions on possible repercussions from the crisis in Yugoslavia. He added, however, that this does not justify any complacency.

    Mr. Venizelos said he had spoke with the French ambassador and had requested a meeting with him for today or tomorrow. He also requested meetings with the Italian and US ambassadors.

    Athens News Agency

    [20] Advertising pie for first part of '99

    Athens, 06/04/1999 (ANA)

    Advertising expenses in the mass media reached 100 billion drachmas during the first three months of the year, a 29.3 per cent increase compared to the same period last year.

    The lion's share (48.5 per cent) went to television for a total of 48 billion drachmas, followed by magazines, newspapers and radio.

    Athens News Agency

    [21] Athens Foreign Exchange

    Athens, 06/04/1999 (ANA)

    Bank of Greece clsing rates of: April 5, 1999

    Parities in Drachmas

    Banknotes             Buying  Selling
    US Dollar             301.102 308.083
    Can.Dollar            200.682 205.335
    Australian Dlr        190.985 195.413
    Pound Sterling        483.937 495.158
    Irish Punt            411.756 421.303
    Pound Cyprus          559.012 571.973
    Pound Malta           726.286 756.548
    Turkish pound (100)     0.073   0.076
    French franc           49.437  50.584
    Swiss franc           203.028 207.735
    Belgian franc           8.039   8.225
    German Mark           165.804 169.648
    Finnish Mark           54.541  55.806
    Dutch Guilder         147.154 150.566
    Danish Kr.             43.666  44.678
    Swedish Kr.            36.589  37.437
    Norwegian Kr.          38.956  39.859
    Austrian Sh.           23.567  24.113
    Italian lira (100)     16.748  17.136
    Yen (100)             248.407 254.166
    Spanish Peseta          1.949   1.994
    Port. Escudo            1.618   1.655
    
    Foreign Exchange      Buying  Selling
    New York              301.102 308.083
    Montreal              200.682 205.335
    Sydney                190.985 195.413
    London                483.937 495.158
    Dublin                411.756 421.303
    Nicosia               559.012 571.973
    Paris                  49.437  50.584
    Zurich                203.028 207.735
    Brussels                8.039   8.225
    Frankfurt             165.804 169.648
    Helsinki               54.541  55.806
    Amsterdam             147.154 150.566
    Copenhagen             43.666  44.678
    Stockholm              36.589  37.437
    Oslo                   38.956  39.859
    Vienna                 23.567  24.113
    Milan                  16.748  17.136
    Tokyo                 248.407 254.166
    Madrid                  1.949   1.994
    Lisbon                  1.618   1.655
    
    Athens News Agency

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