Athens News Agency: News in English, 00-02-29

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

CONTENTS

[01] Parthenon Marbles - British Committee - Papazoi

[02] Alpha Credit Bank-Ionian Bank-Merger

[03] Foreign Exchange Market-Close

[04] Secondary Bond Market-Close

[05] Secondary Bond Market-Close

[06] Athens Derivatives Trade-Close

[07] Greece - Turkey - Trade

[08] Byzantine - Museum - Exhibition

[09] Weather Forecast-Wednesday

[10] Greece - Turkey - Trade

[11] Maillis-1999 results

[12] Epiphania-1999 results

[13] ASE-close

[14] Greek tourism-website

[15] Papantoniou-Papaioannou-employment

[01] Parthenon Marbles - British Committee - Papazoi

The British Committee for the Restitution of the Parthenon Marbles and Greek Culture Minister Elizabeth Papazoi have strongly condemned a British Culture Ministry statement on the issue.

The statement, provided to 'Nine Network Australia' television channel for one of its prestigious '60 Minutes programme', drew a caustic reaction from Graham Binns, Chairman of the British Committee for the Restitution of the Marbles, who was interviewed on the issue. The interview was broadcast on February 27.

"I was not only surprised by the Ministry's statement, but shocked by it. It seemed that, rather than present a reasoned argument, they were casting around in an effort to make a case with irrelevant diversions. The statement admitted delaying tactics at UNESCO, was insulting to the Greek government, and was littered with prevarications. It can fairly be inferred from internal evidence that some parts of the statement emanated from the British Museum," Binns said.

[02] Alpha Credit Bank-Ionian Bank-Merger

Alpha Credit Bank is to merge legally with Ionian Bank, which it acquired last year in a privatisation tender, by the end of April, Alpha chairman Yiannis Kostopoulos said on Tuesday.

Kostopoulos told a news conference that an operational merger of the two bank's networks would reach completion by the end of August.

[03] Foreign Exchange Market-Close

The drachma gained on the euro and the dollar in the domestic foreign exchange market on Tuesday.

At the central bank's daily fixing on Tuesday, the euro was set at 333.930 drachmas from 334.040 drachmas a day earlier and 334.050 drachmas on Friday.

[04] Secondary Bond Market-Close

Bonds in the domestic secondary market on Tuesday drew buyers but turnover was thin.

The Greek benchmark 10-year bond showed a yield of 6.43 percent, the same as the previous day, from 6.42 percent on Friday and 6.41 percent on Thursday.

[05] Secondary Bond Market-Close

Bonds in the domestic secondary market on Tuesday drew buyers but turnover was thin.

The Greek benchmark 10-year bond showed a yield of 6.43 percent, the same as the previous day, from 6.42 percent on Friday and 6.41 percent on Thursday.

The paper's yield spread over German bunds was around 96 basis points, holding the previous day's level, against 98 basis points on Friday and 100 basis points on Thursday.

Trade through the central bank's electronic system totalled 40 billion drachmas. Buy orders accounted for the bulk of turnover and sell orders the remainder.

Analysts said there was little room for the yield spread over bunds to drop below about 96 basis points in the near future, and that even a central bank rate cut of 75-100 basis points, anticipated in March, would have little impact on the market.

The yield spread has been fluctuating between 96 and 100 basis points, usually at the higher end of the range.

[06] Athens Derivatives Trade-Close

Equity futures on the Athens Derivatives Exchange finished lower on Tuesday in line with the stock indices on which they are based.

On the Athens bourse, the FTSE/ASE 20 index for blue chip and heavily traded stocks ended 0.20 percent down; and the FTSE/ASE Mid 40 for medium capitalisation stocks closed 1.80 percent lower.

[07] Greece - Turkey - Trade

ISTANBUL (ANA · A. Kourkoulas) · A Turkish government agency˘s report this week showed that Greek exports to the neighbouring country totalled some 231 million dollars in 1999, while imports from Turkey reached the 322-million-dollar mark.

The same figures, released by the Turkish general secretariat for foreign trade, listed a trade imbalance in favour of Turkey since 1991, although the total turnover in bilateral trade has increased dramatically. In 1991, for instance, total Turkish exports to Greece were listed at $144 million, while imports of Greek products totaled $77 million.

[08] Byzantine - Museum - Exhibition

The Byzantine Museum of Athens begins its last season of the millennium with an exhibition entitled ?Ritual and Faith · Byzantine Art and the Holy Liturgy?.

Exhibition organisers noted on Tuesday in the Greek capital that the 71 selected works · all from various Greek museum collections -- would be displayed with the intent of emphasizing the historical base, symbolism and Byzantium˘s unique ecclesiastical rites, and covering a period of some 15 centuries.

The exhibition, which first opened in Melbourne, is set to last until May.

[09] Weather Forecast-Wednesday

Sunshine is forecast in most parts of the country on Wednesday, turning to cloud and rain in the west from the afternoon. Snow is expected on high ground.

Winds will be variable, light to very strong, turning gale force in the southern Aegean.

[10] Greece - Turkey - Trade

ISTANBUL (ANA · A. Kourkoulas) · A Turkish government agency˘s report this week showed that Greek exports to the neighbouring country totalled some 231 million dollars in 1999, while imports from Turkey reached the 322-million-dollar mark.

The same figures, released by the Turkish general secretariat for foreign trade, listed a trade imbalance in favour of Turkey since 1991, although the total turnover in bilateral trade has increased dramatically. In 1991, for instance, total Turkish exports to Greece were listed at $144 million, while imports of Greek products totaled $77 million.

[11] Maillis-1999 results

Maillis Packaging Systems, a listed Greek company, on Tuesday announced that group sales totalled 33.7 billion drachmas in 1999, up 72 percent compared with the previous year.

Non-group sales reached 39.1 billion drachmas, up from 20.1 bln in 1998, for an increase of 89 percent.

The company said its net pre-tax profits jumped 69 percent to 5.9 billion drachmas last year despite higher provisions totalling 2.9 billion drachmas.

Maillis said that it successfully completed a restructuring programme last year which combined with its new acquisitions significantly raised costs.

The company said it expected to continue its development in 2000 through implementing its investment programme and new acquisitions, aimed to push group sales over 100 billion drachmas this year.

[12] Epiphania-1999 results

Epiphania, a listed media company, on Tuesday reported a 44 percent rise in its group profits for 1999 to 472 million drachmas, up from 326 mln the previous year.

Group turnover (after deducting inter-company transactions) totalled 4.5 billion drachmas, an increase of 5.5 percent from 1998.

The parent company's turnover rose 11 percent to 3.4 billion drachmas in 1999, while profits jumped 22 percent to 200 million drachmas.

Group results did not include its three advertising, TV production and distribution companies, in which Epiphania acquired a 40 percent stake.

The Group currently owns six subsidiaries, including Next (digital image analysis), Neurosoft (IT) and Andreou (printing-direct mail) which are expected to seek listing on the parallel market for smaller capitalisation stocks of the Athens Stock Exchange this year.

[13] ASE-close

Equity prices ended a highly volatile session lower on the Athens Stock Exchange on Tuesday, pushing the general index near the 5,000 support level.

Traders said a rebounding trend in international markets created an early 2.0 percent rally on the Greek market, which soon evaporated as sellers took the upper hand pushing the market below the 5,000 level.

The general index finally ended 0,64 percent lower at 5,002.23 points, off the day's highs of 5,129 and the day's lows of 4,986 points.

The FTSE/ASE 20 index for blue chip and heavy traded stocks fell 0.23 percent to 2,773.59 points and the FTSE/ASE MID 40 index dropped 1.83 percent to 782.81 points.

Turnover was a heavy 278.54 billion drachmas reflecting a block trade of 30 million shares in Hellenic Petroleum, representing the company's second flotation, at 4,050 drachmas per share.

The parallel market index for smaller capitalisation stocks ended at 1,103.82 points, off 6.40 percent.

[14] Greek tourism-website

The Greek Tourism Organisation (GTO) launched on Tuesday its new website address (www.gnto.gr) offering a wide range of information on Greece and its tourist destinations, tourism enterprises and the organisation's services.

The website features both Greek- and English-languages pages, and will soon offer its services in German and other languages as well.

GTO's Internet services were inaugurated by Development Minister Evangelos Venizelos and GTO secretary-general Evgenios Giannakopoulos.

The website, named 'Xenia', was created by GTO in cooperation with Patras University.

Venizelos said that GTO's internet address would not only help in promoting Greek tourism but would also be a significant "work tool" for Greek tourism entrepreneurs, as it is expected to be used as an electronic commerce centre.

Giannakopoulos said a programme to computerise GTO's operations would be completed in May.

[15] Papantoniou-Papaioannou-employment

A total of 200,000 new jobs will be created in the next four years through government programmes to support employment, National Economy and Finance Minister Yiannos Papantoniou and Labour Minister Miltiadis Papaioannou said on Tuesday.

Speaking to reporters after a meeting with Development Minister Evangelos Venizelos, Agriculture Minister George Anomeritis and other cabinet officials, the two ministers said that a total of two trillion drachmas would be spend in the period 2000-2006 to support employment.

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