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Athens News Agency: Daily News Bulletin in English, 16-09-22

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

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

Thursday, 22 September 2016 Issue No: 5252

CONTENTS

  • [01] PM Tsipras: Greece needs a stable and sustainable solution on debt
  • [02] PM Tsipras: Refugee crisis a global challenge
  • [03] FM Kotzias stresses need to strengthen bilateral dialogue with Baghdad
  • [04] FM Kotzias meets Bolivian counterpart in New York
  • [05] FM Kotzias to meet FYROM counterpart in New York
  • [06] Debt relief for Greece is necessary, says Italy's parliament head
  • [07] Shipping ministry to hold new tender for chartering ship for Lesvos
  • [08] Asylum service rejects one, shelves two applications by Turkish officers
  • [09] Parliamentary commission probing shady loans to media to request BoG report on Attica Bank
  • [10] BoG report on Attica Bank loans will be given to all political parties, says com't president Famellos
  • [11] ND's Mitsotakis should also explain his party's loans from Attica Bank, gov't sources say
  • [12] US envoys tour Energean Oil & Gas factory in northern Greece
  • [13] Draft bill implementing prior actions to be tabled on Thursday
  • [14] One hundred refugees and migrants arrived on Greek islands in last 24 hrs
  • [15] Chiots plan rally against contruction of refugee centers on the island
  • [16] Hellenikon property deal approved by parliament
  • [17] Greek fire brigade chief resigns
  • [18] Former finance minister sent to court for failing to submit wealth declaration
  • [19] We achieved the extension of the tourism season through targeted advertisement, says Alt.Tourism Minister Kountoura
  • [20] French tour operator union sees 8 pct rise in tourism to Greece for 2016
  • [21] Capital Market Commission head reports strong interest at 11th Greek Roadshow in London, talking to ANA
  • [22] LG Group strongly interested for more investments in Greece
  • [23] The challenge of the Greek corporate bond market
  • [24] VAT revenues surpassed targets in August
  • [25] Hygeia reports improved H1 results
  • [26] PLAY wins Company of the Year 2015 award
  • [27] Ryanair adds four more destinations from Thessaloniki in 2017 summer programme
  • [28] Loumidis launches renovated flagship store
  • [29] Pavlidis reports best results in 36 years in 2015
  • [30] Greek stocks end slightly up
  • [31] Greek bond market closing report
  • [32] ADEX closing report
  • [33] Central Archaeological Council approves work to restore north wall of Acropolis
  • [34] International conference on latest evidence concerning the Parthenon Marbles this weekend in Athens
  • [35] Ships to remain docked due to 48h strike called by Seamen's Federation
  • [36] Rain on Thursday
  • [37] The Wednesday edition of Athens' dailies at a glance Politics

  • [01] PM Tsipras: Greece needs a stable and sustainable solution on debt

    The Greek debt, the refugee issue and the Cyprus problem dominated a meeting between Prime Minister Alexis Tsipras and US Vice President Joe Biden on Tuesday.

    According to government sources, the prime minister said that significant steps have been taken on the debt issue and serious reforms have been carried out. He also underlined that the Greek economy has already shown signs of recovery.

    Tsipras stressed that Greece needs a stable and sustainable solution on the debt issue so that investments are accelerated. "A good solution is not only defined by its size," he said, "but it needs to be on time."

    The Greek prime minister also raised the issue of the IMF and institutions. As he said, Greece is not interested whether the IMF will decide to stay or leave as long as a stable and sustainable solution is found.

    The same government sources said that Biden did not raise the issue of Greece adopting the IMF agenda in order to proceed with debt relief.

    Tsipras told Biden that the first and most difficult programme review has been successfully concluded, the Greek economy is recovering, the agreement is being implemented by Greece, but it needs to be implemented by everyone. However, he said that the uncertainty over the debt issue raises questions regarding the investments.

    On the refugee issue, Tsipras said that there is no Plan B, there is only the EU-Turkey agreement, and stressed the importance of supporting that agreement in order to be implemented since it is the only available tool.

    Biden praised Greece on the way it has dealt with the refugee crisis and added that the US puts emphasis on stability in Europe and "Greece is an integral part of European stability."

    On the Cyprus issue, the Prime Minister said that the solution is stability in the region, and stressed that the Cyprus problem is a security problem, it is an occupation problem, therefore a solution to all security problems must be found as part of a viable solution between the two communities.

    Tsipras told Biden that what matters most for Greece is the withdrawal of the occupying forces, and this must be the first step of the solution.

    "The essence is," according to government sources, "that there is will from both sides, there is progress in talks and we continue based on that."

    The US seem willing to support these three issues, the government sources added, despite the fact that it is a transitory period ahead of the presidential elections.

    Tsipras and Biden also agreed to be in constant contact on the initiatives and the issues raised by the Greek prime minister. The sources estimated the US relates the debt issue with the stability in Europe which is also related to the possibility for bigger investments and a more stable economic climate worldwide.

    "For the US, the debt relief is related to stability in Europe," they said.

    Biden did not specify that initiatives to be taken. On the IMF participation, he said that the US is monitoring the issue as they consider that it affects stability in Europe.

    Tsipras will meet with Turkey's President Recep Tayyip Erdogan, at 4 pm (local time). He will also meet with his British counterpart Theresa May, but time is not yet available.

    [02] PM Tsipras: Refugee crisis a global challenge

    The refugee crisis we are facing today is a global challenge. We will either manage to address it together and according to the international law, or we will fail," Prime Minister Alexis Tsipras said in his speech to the Summit of Leaders on the refugee issue chaired by US President Barack Obama, whom Tsipras thanked for the initiative.

    Tsipras also thanked Yusra Mardini - the Syrian refugee that was among the refugees that had arrived in Greece and participated in the Olympics as a swimmer - for what she said, and for her courage.

    "One of the parts of the world that is mostly tested today is Greece. A country that has dealt with 1.2 million refugees and migrants in less than half a year. Where approximately 60,000 refugees and migrants remain trapped, since our northern borders closed because of other countries' unilateral actions. If we were talking, for example, about Great Britain, this figure would correspond to a population of 520,000 refugees and migrants," the Greek prime minister said.

    Moreover, Tsipras said that the Greek Asylum Service, which did not even exist three years ago, manages the fourth largest number of asylum applications in Europe while the Greek authorities, together with European and Turkish ones, are trying to implement "the very difficult but necessary EU-Turkey Agreement, leading to a drastic reduction of flows and, most importantly, deaths in the Aegean Sea - replacing the unlawful, dangerous path of the Aegean with a legal route to Europe."

    "If this effort that is taking place in Greece - with the support of several EU countries - fails, the only winners in Europe will be the most xenophobic and nationalist voices. Forces that believe that the application of international law is a luxury and the sharing of responsibility is something unacceptable", he said and stressed the need for a strong international initiative that will set a new global framework for refugee management and weaken the xenophobic anti-migrant agenda.

    Tsipras denounced the racist and xenophobic attitudes that led to the raising of walls and barriers against refugees, noting that this was "shameful" for Europe. Implementing the EU-Turkey agreement would be difficult but necessary to counter both illegal trafficking networks and the xenophobic beliefs that flouted laws and sanctioned pushbacks at sea, he added. The Greek prime minister said necessary action included an acceleration of relocations, reinforcement of Greece's asylum service by the EASO, closer cooperation with Frontex in the Aegean and Greece's northern borders and immediate implementation of decisions for a European border and coast guard.

    "This framework must be strengthened: the support to countries hosting refugees, the return of people who are not entitled to international protection as well as the resettlement and relocation of those who need it, the initiatives to address the root causes of migration, including initiatives for peace in Syria, and police cooperation against human trafficking networks. Such a global framework is today more necessary than ever. And Greece is well aware of that," he concluded.

    [03] FM Kotzias stresses need to strengthen bilateral dialogue with Baghdad

    Foreign Minister Nikos Kotzias on Tuesday stressed the need for strengthening bilateral political dialogue and intensifying political consultations between the foreign ministries of Athens and Baghdad and outlined the role that Greece can play in the promotion of EU-Iraq relations.

    Kotzias met with the Foreign Minister of Iraq Ibrahim al-Jaafari as part of the 71st Session of the UN General Assembly in New York.

    The two ministers discussed ways to further promote bilateral cooperation and spoke about the historical and cultural ties that unite the two countries. Kotzias stressed the importance of Iraqi cultural heritage and the culture developed in Mesopotamia and referred to the initiative of establishing GC10, which includes 10 countries representing the most ancient civilizations of the world. He also extended an invitation to his Iraqi counterpart to participate in a conference that will soon take place in Athens and expressed his intention to visit Baghdad soon.

    [04] FM Kotzias meets Bolivian counterpart in New York

    Issues of bilateral and international interest, as well as the possibilities of developing relations further were discussed in a meeting between Foreign Minister Nikos Kotzias and his Bolivian counterpart David Choquehuanca C?spedes, on the sidelines of the 71st Session and the high-level Week of the UN General Assembly in New York.

    The two ministers had the opportunity to talk about the Greek initiative of establishing the GC10, an Organisation of the ten oldest world cultures and civilisations, including Bolivia's. Kotzias also extended an invitation for his Bolivian counterpart to take part in the upcoming Conference which is due shortly in Athens, in the context of this initiative.

    [05] FM Kotzias to meet FYROM counterpart in New York

    Foreign Minister Nikos Kotzias will meet with his FYROM counterpart Nikola Poposki in New York on Thursday on the sidelines of the 71st Session and the high-level Week of the UN General Assembly.

    He will then meet with Jewish organisations and participate in a meeting of EU and NATO foreign ministers.

    Apart from these meetings, Kotzias will participate in several meetings of Prime Minister Alexis Tsipras with the Iranian President Hassan Rouhani and UN chief Ban Ki-moon, while he will also attend the session of the UN Plenary of the UN General Assembly, where the prime minister and Cyprus' President Nicos Anastasiades will speak.

    The foreign minister will also accompany Tsipras to the official dinner hosted by representatives of the Greek diaspora.

    [06] Debt relief for Greece is necessary, says Italy's parliament head

    ROME (ANA/T. Andreadis-Syngelakis)

    Debt relief for Greece is necessary to give the country a prospect of recovery, the president of the Italian parliament Laura Boldrini told Athens-Macedonian News Agency on Wednesday.

    "I don't know if it will be achieved, but I consider necessary a debt relief to give Greece a prospect of recovery," she said.

    Asked about the Athens mini-summit, she said it was an important meeting because it is essential to discuss a series of issues thoroughly.

    [07] Shipping ministry to hold new tender for chartering ship for Lesvos

    The Shipping ministry announced on Wednesday it will hold a new tender for the chartering of a ship which will be used to house refugees and migrants in Lesvos as the winner of the first competition didn't show up to sign the deal.

    According to the ministry, a representative of the shipping company, European Management, was expected to sign a contract at the ministry's offices at 15:00 and submit a letter of guarantee, which he didn't.

    Refugees and migrants from the hotspot in Moria left the center after sections of the center burned during clashes two days ago.

    [08] Asylum service rejects one, shelves two applications by Turkish officers

    An asylum request by one of the Turkish officers who fled to Greece after the failed coup attempt in Turkey in July was rejected by the asylum service while two more requests have been shelved, the lawyer assigned to them said on Wednesday.

    A total of eight Turkish officers arrived in northern Greece after the coup attempt and sought political asylum claiming their lives are at risk if they return to their country. They have denied any involvement in the coup plot.

    Speaking to Athens-Macedonian News Agency after the decision, Stavroula Tomara said the asylum service believes her client was involved in the attempted coup but that he will seek to overturn it in the asylum appeals board. "The decision is not based on facts, as the applicant described them, but on general information and conclusions made by the person who handled the case," Tomara said.

    The two other decisions today didn't reject the applications but filed them and her clients have the right to reopen them within nine months. The two officers concerned refused to receive their decisions so they haven't read its rationale, but have been informed orally that their applications have been shelved.

    The assessment of asylum applications for the other five Turkish officers continues.

    [09] Parliamentary commission probing shady loans to media to request BoG report on Attica Bank

    A parliamentary Commission of Inquiry investigating the legality of loans granted by Greek lenders to media and political parties decided unanimously on Tuesday to request a report by the Bank of Greece into Attica Bank.

    The decision was taken so that lawmakers can see if the report contains any information on loans were given by the lender to any media or parties.

    [10] BoG report on Attica Bank loans will be given to all political parties, says com't president Famellos

    The directors of Attica Bank will appear before the parliamen-tary examining committee regarding the loans of the political parties and the media while Bank of Greece's (BoG) report referring to Attica Bank's loans will be given to all political parties, SYRIZA's parliamentary spokesman Sokratis Famellos said on Wednesday to "Praktoreio 104.9 FM".

    "We don't want any suspicions; everything should come into the light," he underlined and noted that "The bank's board is the same one appointed by the previous government" adding that "if there was a problem, the supervising mechanism and the Bank of Greece should have sent the report to the prosecutor."

    Famellos said that the committee examines whatever infringement recorded in relation with the banks' loans to the media and political parties. He also said that 1.3 bln euros loans to media and 420 mln euro loans to political parties including 402 mln euros non-performing loans to main opposition New Democracy (ND) and PASOK are being examined.

    He also said that former BoG governor Giorgos Provopoulos and current head of BoG Yiannis Stournaras will appear before the committee until October 11.

    [11] ND's Mitsotakis should also explain his party's loans from Attica Bank, gov't sources say

    Attacking main opposition New Democracy leader Kyriakos Mitsotakis and his party, government sources on Wednesday said that the main opposition leader "should find something to say about the shady loans his party was given by Attica Bank."

    When Mitsotakis addressed the Thessaloniki International Fair (TIF) and castigated banks with "government affiliated" managements for indiscriminately handing out loans without criteria, he was clearly not referring to the loans his own party was given by Attica Bank, the same sources said.

    "Now everything is being revealed. According to the figures made public by the Bank of Greece report, ND and PASOK have stuck Attica Bank with 13 million euros in debt," the same sources noted, adding that Mitsotakis should explain why and how this money was given, and when and how it would be paid back.

    [12] US envoys tour Energean Oil & Gas factory in northern Greece

    Two American officials visited the factory and off-shore installations of privately-owned Energean Oil & Gas, Greece's sole oil producer, in northern Greece on Tuesday.

    Rebecca Fong, U.S. Consul General in Thessaloniki, and Steven Bitner, Economic Counselor at the U.S. Embassy in Athens, toured the oil fields in the Prinos Basin off the northern Greek island of Thassos, as well as the processing plant "SIGMA" in Nea Karvali.

    During their visit, they were informed about the ongoing drilling project and the handling and separation of the produced oil, natural gas and hydrogen sulfide.

    [13] Draft bill implementing prior actions to be tabled on Thursday

    A draft bill implementing the prior actions still outstanding for the disbursement of a 2.8-billion-euro sub-tranche of bailout loans is expected to be tabled in Parliament on Thursday, finance ministry sources said.

    The schedule for the approval and disbursement has not changed, the sources added, since it already calls for the Eurogroup Working Group's approval on September 29, followed by the final decision for disbursement made by the Eurogroup on Oct. 10.

    [14] One hundred refugees and migrants arrived on Greek islands in last 24 hrs

    A total of 100 new migrants and refugees crossed from Turkey to the Greek islands of the eastern Aegean in the past 24 hours, according to official data.

    Seventy-four people arrived in Lesvos, one in Chios, 13 in Samos, two in Leros and 10 in Rhodes. These are added to the 5,777 currently trapped on Lesvos, 3,720 on Chios, 1,520 on Samos, 733 on Leros and 152 on Rhodes. . In total, there are 13,701 refugees and migrants on Greek islands.

    [15] Chiots plan rally against contruction of refugee centers on the island

    A group of Chiots is planning a new rally on the island of the eastern Aegean on September 28, to oppose the construction of new hotspots on the island.

    In a letter to the municipal council, the group that calls itself "Chiot Resistance Committee" said it will gather at Vounaki square in Chios town and called for a "peaceful, nonpartisan rally", noting that the protest is "against the policies and not the people".

    "To avoid even worst situations, we call on local authorities to join us in the self-evidently legitimate demands of society, lest we prevent the current impasse," the group said. "We cannot accept any additional infrastructure on the island, whatever they call it (detention center, first reception center, accommodation center, etc.), simply because the island cannot handle the double burden of being an entry point and a permanent residence for thousands of people."

    [16] Hellenikon property deal approved by parliament

    Parliament approved with a wide majority on Wednesday the deal for the sale and long-term lease of the old airport of Hellenikon in southern Athens.

    All parties voted in favour (SYRIZA, ND, Democratic Coalition, Potami, ANEL and Centrists' Union) except the Communist Party and Golden Dawn.

    [17] Greek fire brigade chief resigns

    The head of Greece's Fire Brigade Lieut. General Ioannis Karatzias offered his resignation to the leadership of the citizen protection ministry on Wednesday. A ministry announcement said that the procedures for the selection of a new fire brigade chief will be launched.

    Sources at the ministry said the resignation was linked to the new officer ranking system and relevant announcements made by the ministry on this issue about a month ago. Karatzias had submitted to proposals on how officers and non-commissioned officers might rise through the ranks, neither of which was accepted.

    Alternate Citizen Protection Minister Nikos Toskas had proposed changes to make the ranks for fire brigade officers align with those of the police force, while had given orders to set up a committee that included trade unionists and fire brigade staff to prepare a report on ranks for non-commissioned officers, within a month.

    [18] Former finance minister sent to court for failing to submit wealth declaration

    Former finance minister Gikas Hardouvelis will face a misdemeanors court for failing to submit a wealth declaration in the period 2011-2012 when he was an adviser to former prime minister Loukas Papadimos.

    Financial News

    [19] We achieved the extension of the tourism season through targeted advertisement, says Alt.Tourism Minister Kountoura

    PARIS (ANA/O. Tsipira)

    "Greece is an attractive and original tourist destination throughout the year" was the slogan of the Greek National Tourist Organisation (GNTO) pavilion in the International Tourism Exhibition that is held in Paris between 21 and 23 September.

    The Greek pavilion hosts four regions and municipalities as well as 16 tourist enterprises.

    Alternate Tourism Minister Elena Kountoura visited Paris and had a series of meetings with representatives of tour agencies and tour operators as well as airline companies while Kountoura's French counterpart Matthias Fekl paid a visit to the Greek pavilion.

    "Our aim is to create new relations and to come closer to our partners and friends in order the relations to be personal" said Kountoura to Athens-Macedonian News agency adding that her intention is to do the same in all exhibitions and according to each country's culture".

    Kountoura in a brief review of the up to date results of the Greek tourism in 2016 said that she is satisfied because the strategy he ministry planned and implemented in 2015 started bearing fruit in 2016. "The extension of the tourism season was among our priories. We made the pilot programme and opened the tourism season in April 7 until the end of November. For the first time the months September, October and November are expected to be very successful" she said.

    At a question if the refugee crisis had a negative impact on the Aegean islands' tourism and how this can be reversed, Kountoura acknowledged that 'there were losses'. "We made a very specific programme and invited journalists, cameramen, bloggers and travel operators to visit, shoot videos and photos and we cooperated with ANA in our effort to prove that the islands are safe. Kos has almost recovered to the figures of 2015 that was a record year for tourism while the islands of Chios and Samos have shown signs of recovery" she said.

    "We are interested in attracting the attention and to prove that Greece is a strong player in the international market. I seek the most cheap and targeted ways for Greece's broader presence in the social media and the satellite-channels. We refer to 500 channels in Europe and USA.

    According to Kountoura, Prime Minister Alexis Tsipras has understood the importance of Greece's international advertising and for this reason he approved an additional fund (20 mln euros) for 2017-2018 for targeted and dynamic promotion. "It is a huge assistance because now we can appear in foreign media in which today we are completely absent" concluded Kountoura.

    [20] French tour operator union sees 8 pct rise in tourism to Greece for 2016

    Greece is expecting an eight percent increase in tourist arrivals from France this year, according to data by the French tour operator union SETO. Arrivals from France are expected to rise to 1.65 million versus 1.52 million in 2015, the union said.

    The data was published as Alternate Minister for Tourism Elena Kountoura visited the IFTM Top Resa in Paris, France's leading international B2B tourism exhibition, where Greece is participating.

    During her visit, Kountoura met with representatives of French tour operators and airlines who confirmed the increase in French tourism to Greece for 2016 and 2017.

    The exhibition is attended by over 31,000 trade professionals per year.

    [21] Capital Market Commission head reports strong interest at 11th Greek Roadshow in London, talking to ANA

    A large number of foreign fund managers showing strong interest in the Greek stock market and listed companies attended the 11th Annual Greek Roadshow taking place in London on September 20-22, Hellenic Capital Market Commission Chairman Charalampos Gotsis told the Athens-Macedonian News Agency (ANA) on Wednesday.

    The roadshow was a superb opportunity to present the prospects of the Greek economy and Greek enterprises to the managers of both large and small funds, who welcomed the opportunity to find out about the state of the economy at first hand and collect information that will help them make investment decisions, Gotsis said. The job of the Greek side was to persuade them that the country was implementing the third programme and entering a new phase, passing from stabilisation to recovery, and to put the Greek market on their investment "radar".

    Despite the great uncertainty in global markets and economies, the figures for Greece pointed to an economic recovery and growth rates of 2.5-2.9 pct between June 2016 and June 2017, he added.

    "For foreign investors, it is very important that there is political, social and banking stability in the country at this time. This improves the confidence in the Greek economy and the country. If we add to this the large returns that Greek paper promises and the reduced cost per unit for productive investments, our country presents great interest, not only for participatory investments in existing companies but also in direct investments that are so desperately needed to create jobs and keep young people in Greece," Gotsis added.

    It was up to the government to persuade investors that the country was changing and for businesses to convince them that their plans have prospects. The HCMC's role was to show foreign investors that they would be entering a market that was functioning, supervised and regulated in accordance with European rules, he said.

    Representatives of the Athens Stock Exchange, the Hellenic Capital Market Commission and 29 of Greece's largest listed companies are in London to meet with global investment fund managers at the facilities of the Bloomberg agency.

    [22] LG Group strongly interested for more investments in Greece

    LG Group is strongly interested for more investment plans in Greece, Yong Shub Kim, chairman and managing director of LG CNS said during a meeting with Greek Economy Minister George Stathakis on Wednesday.

    The Greek minister met with the LG CNS official and the ambassador of South Korea Yong Gip Ahn in Greece. LG participates with a 50 pct stake in a joint venture implementing a public/private sector joint project for an e-ticket in public transportation in Athens, budgeted at 58,000,000 euros. The project is funded by the Greek state and by 49 pct with community funds.

    A ministry announcement said that during the meeting, Mr Yong Shub Kim underlined the significance of the project for the company and thanked the Greek minister for the ministry's cooperation in the timely and successful completion of the project. He also expressed LG Group's strong interest for more investment plans in Greece.

    The South Korean ambassador expressed his certainty that the Greek economy will recover very soon that stressed he looked forward for joint bilateral initiatives aimed to boost tourism trends from Korea to Greece and to boost trade relations between the two countries. He expressed strong interest for the exploitation process of a Juncker plan in Greece.

    The Greek minister confirmed the government's interest for the e-ticket project and added that the government was looking towards strengthening bilateral relations in the fields of commerce and tourism, while he mentioned the big prospects for Greek enterprises to invest in the Republic of Korea.

    [23] The challenge of the Greek corporate bond market

    A decision by Housemarket, a subsidiary of Fourlis Group, to issue a bond loan through a public offer scheduled for September 28-30, combined with a refinancing of an existing bond loan by Intralot, offered new life in the Greek corporate bond market, as bond yields significantly surpassed deposit interest rates and the yields of state securities.

    The new administration of the country's Capital Market Commission has set as a goal the creation of a new regulatory framework for the introduction of new alternative products in the Greek capital market and voted a new law in September 1st which deregulated the domestic market for the issuance and trading of corporate bonds.

    Greek enterprises with healthy business prospects will be able to issue and offer to the Greek capital market fixed-interest bonds (coupons) to all interested investors -domestic and abroad. This move satisfied a long-term demand of the market, but only now the abolition of an interest rate ceiling (set by the Bank of Greece) paved the way for a dynamic market, Chr. Gotsis, president of the Capital Market Commission said.

    Market officials and analysts said that investors' reaction to Housemarket's bond offer at the end of the month will be a significant sign for the outlook of the new market. Housemarket will issue a common bond loan, unsecured, ranging from 15,000,000 euros to 40,000,000 euros. The issue is attractive both to institutional and private investors as the minimum investment sum was set at 1,000 euros per investor. The loan is subject to the Greek law, it will have a five-year duration and will pay an annual coupon of 5.0 pct. Housemarket will issue up to 40,000,000 common anonymous bonds worth one euro each, at an offer price of one euro.

    The new corporate bond market is addressed mostly to medium and large healthy enterprises. For smaller enterprises and start-ups, unable to find bank funding because of the high-risk and their size, the capital market is introducing Crowdfunding solutions, a trend rapidly growing in several countries lately. On a global level, funds raised in the market doubled each year. Since there is no European legislation, the Capital Market authority introduced a national framework adjusted to the needs of the Greek market. On internet platforms, individual investors will be able to participate with sums up to 5,000 euros for each investment and in total up to 30,000 euros. Income criteria were also introduced to exclude any unnecessary risk taking.

    [24] VAT revenues surpassed targets in August

    VAT revenues increased significantly in August, surpassing monthly budget targets, while in the January-August period revenues surpassed targets by 3.01 pct. Both the Finance ministry and the Secretariat-General for Public Revenue expressed satisfaction over the course of VAT revenue which is attributed largely to a significant increase in Greek islands during the summer season as a result of intensified controls by tax authorities.

    In Mykonos, VAT receipts surpassed monthly targets by 170.1 pct, in Rhodes by165.6 pct, in Santorini 114.4 pct, in Zakynthos by 91.2 pct, in Corfu 78.6 pct, in Chania 53.7 pct and in Heraklio 51.7 pct.

    VAT revenues surpassed monthly targets by 9.91 pct in August. Net regular budget revenue also surpassed monthly targets in August despite the fact that collection of an ENFIA property tax was postponed for September.

    [25] Hygeia reports improved H1 results

    Hygeia SA, a Greek-listed clinic, on Wednesday reported improved H1 results, with consolidated turnover rising 1.9 pct to 116.7 million euros compared with the same period in 2015, EBITDA jumping 53.3 pct to 18.3 million euros from 11.9 million last year and consolidated pre-tax and interest earning rising to 9.2 million euros from 2.1 million in 2015.

    After tax earnings from continuing activities totalled 4.3 million euros in the January-June period, from a loss of 1.7 million euros in the same period last year.

    Andreas Kartapanis, CEO of the Group, commenting on the results said the despite an economic recession which continued negatively affecting Greek business activity, Hygeia Group continues -thanks to its long-term strategy- to show improving operating profitability and turnover, confirming its dominant position in the sector.

    [26] PLAY wins Company of the Year 2015 award

    PLAY (P4), a member of Olympic Group in Poland, won the "Company of the Year" award for 2015 during the 26th Economic Forum of Central and Eastern Europe. It is one of the most significant institutions in Europe, bringing together Prime Ministers and Cabinet Minister from Central and Eastern European countries to discuss all political, economic and social issues related with the wider region.

    Poland's Prime Minister Beata Szydlo, the vice-president of the government Mateusz Morawiecki, several ministers and the Prime Minister of Hungary Viktor Orban attended the forum.

    PLAY was awarded with the highest award and was chosen by all companies in Central and Eastern Europe as "Company of the Year". It signals the first award for a mobile telephony company in the history of the awards.

    2015 was a very successful year for PLAY, which managed to boost both its finances and its subscriber base, while its market share surpassed 25 pct. The company managed to gain 14.15 million customers in just eight years.

    [27] Ryanair adds four more destinations from Thessaloniki in 2017 summer programme

    The representatives of Ryanair underlined the exceptional prospects of Thessaloniki's Macedonia airport that is constantly developing as well as the difficulties the airlines will face as of mid-February 2017 and for a period of three months due to technical works.

    The commercial director of Ryanair David O'Brien announced that four new flights will be added in Thessaloniki's schedule in summer 2017 along with the recently added flight to Berlin.

    The international airport of Thessaloniki is expected to post a 14 percent increase in the number of flights while Athens only 1 percent due to the high airport cost.

    O'Brien expressed his concern over the works on specific airstrips which are expected to cause trouble to the flights next year adding that his airline has submitted a specific proposal for the solution of the problem, which Ryanair can partly finance. According to O'Brien, the Greek government has not replied yet.

    Thessaloniki mayor Yiannis Boutaris, who attended the event, stressed the need to find a solution to the problem.

    The new flights will link the city of Thessaloniki with Hamburg, Copenhagen, Dormund and Gothenburg. 1.9 million passengers travel to Thessaloniki by Ryanair every year.

    [28] Loumidis launches renovated flagship store

    Loumidis coffee shop launched its newly renovated flagship store, located in Omonia square, on Tuesday celebrating its 84th year of history.

    The Loumidis family business began its activities in the coffee market in 1920. The renovated store brought back to life the aura of another epoch. Guests and journalists were briefed by the representatives of second and third generation Loumidis family on its history and presented the quality products offered to customers. "We are particularly happy that a second and third generation of our family is here today to celebrate this joyful event of renovating our new store, signalling the company's course to the future. The landmark store continues with respect to the history of coffee and preserves tradition. With a 96-year experience and knowledge as a guide we continue building on the values, vision and the relations with out customers," the owners said.

    Loumidis operates a network of 12 stores (seven corporate and five franchising) in Omonia, Piraeus, Marousi, Kalithea, Peristeri, Aghios Dimitrios, Thessaloniki, Kastoria, Katerini, Larisa and Chalkis. The company also operates a network of 250-300 shop-in-shop stores around the country and it is a coffee wholesaler. Loumidis' annual turnover reaches 6.0 million euros.

    [29] Pavlidis reports best results in 36 years in 2015

    Pavlidis SA Marble-Granite, the top marble sector company in Greece, reported the best results in its 36 years of history in 2015. Turnover was 50.5 million euros, up 24.4 pct from 40.6 million in 2014, while EBITDA jumped 35 pct to 22 million euros from 16.3 million over the same periods, respectively. These results combined with a general performance of the company ranked Pavlidis SA not only as the leader in the marble sector but also among the top 50 most successful companies in Greece for several years.

    The company said that continuous fixed-capital investments in Greece, combined with an extrovert sales policy resulted that 95 pct of annual turnover to be directed to around 40 countries mostly in China, Southeast Asia, Arab Gulf, North and Latin America.

    Pavlidis said its investment program aimed to ensure growth, improving productivity, efficiency and diversification. To achieve these goals the company is in constant contact for new cooperations or purchases of marble/granite deposits. At the same time, it implements a three-year investment program on new generation machinery equipment and implements an investment program on alternative energy sources.

    [30] Greek stocks end slightly up

    Greek stocks continued moving slightly higher in the Athens Stock Exchange, with buying interest focusing on bank shares and other selected blue chip stocks, such as Viohalco and Lamda Development. The composite index of the market rose 0.27 pct to end at 562.12 points, off the day's highs of 564.96 points. The Large Cap index rose 0.53 pct and Mid Cap index ended 0.83 pct higher. Turnover was a low 36.896 million euros in volume of 45,154,666 shares.

    Viohalco (5.17 pct), Eurobank (4.04 pct) and Lamda Development (3.49 pct) scored the biggest percentage gains of the day among blue chip stocks, while Titan (1.83 pct), Folli Follie (1.83 pct) and OTE (1.49 pct) suffered heavy losses. Among market sectors, Banks (2.40 pct) and Real Estate (2.0 pct) scored big gains, while Commerce (1.83 pct) and Telecoms (1.49 pct) suffered losses.

    National Bank and Piraeus Bank were the most heavily traded securities of the day. Broadly, decliners led advancers by 52 to 48 with another 15 issues unchanged. G.E.Dimitriou (17.65 pct), Q&R (12.89 pct) and Audiovisual (9.86 pct) were top gainers, while Hatzikraniotis (19.30 pct), Euromedica (12.5 pct) and Logismos (10 pct) were top losers.

    [31] Greek bond market closing report

    The yield spread between the 10-year Greek and German benchmark bonds eased significantly to 8.37 pct in the domestic electronic secondary bond market on Wednesday, with the Greek bond yielding 8.37 pct from 8.64 pct on Tuesday and the German Bund yielding 0.001 pct. Turnover was a thin 4.0 million euros, two buy orders.

    In interbank markets, interest rates were mixed. The 12-month rate fell to -0.058 pct from -0.057 pct, the nine-month rate rose to -0.126 pct from -0.129 pct, the six-month rate rose to -0.202 pct from -0.204 pct, the three-month rate was -0.301 pct and the one-month rate was -0.371 pct.

    [32] ADEX closing report

    The October contract on the FTSE/ASE Large Cap index was trading at a discount of 0.28 pct in the Athens Derivatives Exchange on Wednesday. Volume on the Big Cap index totaled 976 contracts with 5,663 open positions in the market.

    Volume in futures contracts on equities totaled 22,237 contracts with investment interest focusing on National Bank's contracts (7,703), followed by Alpha Bank (3,830), Piraeus Bank (4,964), Eurobank (4,154), MIG (603), OTE (334), PPC (123), OPAP (191), Motor Oil (31), Athens Water (62), Metka (36), GEK (25), Folli Follie (39), Hellenic Exchanges (25), Mytilineos (24) and Viohalco (22).

    General News

    [33] Central Archaeological Council approves work to restore north wall of Acropolis

    Greece's Central Archaeological Council has approved a proposal for restoring sections of the north wall surrounding the Athens Acropolis, which need repairs for safety and structural reasons. A decision on a second, more controversial plan, is still pending after members raised objections during a meeting on Tuesday.

    The repairs concern sections of the medieval wall surrounding the Acropolis, with members giving a 'green light' to repair plans for the wall northeast of the north porch of the Erechtheum. This contains some architectural elements from the archaic temple and the pre-Parthenon that were incorporated into the wall during the building of the fortifications at the time of Themistocles, some of which are now visible from a distance. There is also the upper part of the Classical-era wall from the Themistocles era and signs of carving on the inner side that provide evidence of an Erechtheum courtyard, only traces of which remain.

    The problems are chiefly due to erosion and rusting of iron supports used during restoration work by Nikolaos Balanos in the early 20th century, while cement used to hold up eroded parts made the situation worse. The proposals approved aim to restore this section to ensure both structural integrity and aesthetic improvements.

    More controversial was a proposal concerning the west side of the northern wall near the Propylaea, which called for the removal of a section of the wall built in the 15th century A.D. in order to reveal a portion of the classical fortifications. Only the inner part of this older fortification survives, however, since its exterior has been destroyed to a depth of one or two metres. The proposal suggested removal of the medieval section to reveal the older Classical wall and the addition of new material.

    This met with objections, with the head of the Cyclades Antiquities Ephorate Dimitris Athanasoulis pointing out that the process was irreversible, that the medieval section was also an antiquity and that the proposal essentially called for the construction of a "21st century wall" without full knowledge of the way the original was built. Other suggestions called for the reconstruction of only the lower eight layers of the Classical-era wall that remain, leaving the Medieval one intact.

    "Athens was one of the most important medieval cities in the world and there is nothing left. The only traces of it are in the walls. If we rip them up from there as well that would be a crime," Athanasoulis told the Athens-Macedonian News Agency (ANA).

    The Council decided that there should be an on-the-spot inspection of the site by its members and that the matter should be discussed again, with consultation of the Byzantine and Post-Byzantine Antiquities services and agencies.

    [34] International conference on latest evidence concerning the Parthenon Marbles this weekend in Athens

    An international conference entltled "The Parthenon Marbles: 200 years since their expropriation by the British Musem" will be held at the Acropolis Museum in Athens on Saturday and Sunday, with the participation of distinguished Greek and foreign archaeologists, antiquities restorers and legal experts. The conference is organised by the "Athenians' Society" and is taking place under the aegis of Hellenic Republic President Prokopis Pavlopoulos.

    It will review the results of the latest research and recent developments concerning the Parthenon Marbles, while it will also bring together for the first time in two decades the representatives of the 14 national committees campaigning for the return of the sculptures to Greece. There will also be elections to renew the operation of International Association for the Reunification of the Parthenon Sculptures (IARPS).

    The new evidence to be presented includes material found in the archives of Lord Elgin concerning the way the sculptures were removed from the Parthenon, the architectural elements that are in the British Museum and the problems in their replacement, the Mentor shipwreck and evidence from Ottoman archives in Istanbul. There will also be a discussion on legal aspects of the case.

    The results of the conference will be published and made available to academics, while the programme and audiovisual recordings of the speeches will be available through the Athenians' Society website http://www.syllogostonathinaion.gr/.

    [35] Ships to remain docked due to 48h strike called by Seamen's Federation

    The Greek Seamen's Federation (PNO) has declared a 48h strike in all ship categories starting from 06:00 on Thursday, September 22 until 06:00 on Saturday 24 September.

    The Seamen's Federation reacts to the reduction of the seamen's' supplementary pensions.

    The shipping companies have changed their schedule. Citizens who are going to travel should get in contact with the travel agencies for information.

    Weather forecast

    [36] Rain on Thursday

    Rain and northerly winds are forecast for Thursday. Wind velocity will reach 5 on the Beaufort scale. Clouds and rain in the northern and western parts of the country with temperatures ranging from 14C to 26C. Rainfall in the eastern parts of the country and temperatures ranging from 15C to 26C. Clouds and rain over the Aegean islands and Crete, 20C-28C. Rain in Athens, 16C-26C; the same for Thessaloniki, 15C-20C.

    [37] The Wednesday edition of Athens' dailies at a glance

    AVGHI: (US Vice President Joe) Biden's support for debt relief

    DIMOKRATIA: Looking into loans and deposits for home purchases

    EFIMERIDA TON SYNTAKTON: Corruption attacks

    ELEFTHEROS TYPOS: Responsibilities over Kalogritsas' TV

    ESTIA: Prime Minister lacks necessary qualifications

    ETHNOS: The Tax Bureax's obstacles

    IMERISSIA: 2-20 year imprisonment for tax evasion

    KONTRANEWS: The 'leaders' of corruption took 60 billion euro loans from banks

    NAFTEMPORIKI: Strict punishments on tax evasion

    TA NEA: The phantom of the Bank of Crete

    36, TSOCHA ST. ATHENS 115 21 GREECE * TEL: 210 64.00.560-63 * FAX: 210 64.00.581-2 INTERNET ADDRESS: http://www.ana.gr * e-mail: anabul@ana gr * GENERAL DIRECTOR: MICHALIS PSILOS


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