Athens News Agency: News in English, 02-08-28

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

CONTENTS

[01] Greece offers 54.29 mln-euro aid to Bulgaria

[02] Greek companies to seek Chinese partners

[03] Sources: Vardinoyiannis interest in OA spurned so far

[04] First tracks laid as Athens awaits return of trams

[05] Papandreou calls on Tirana to defuse 'border pileup' rhetoric

[06] First tracks laid as Athens awaits return of trams

[07] Foreign Exchange Rates - Thursday

[08] Weather Forecast: Scattered cloud on Thursday

[09] Greek stocks end lower on Wednesday

[01] Greece offers 54.29 mln-euro aid to Bulgaria

Greece and Bulgaria on Wednesday signed a bilateral agreement envisaging the granting of 54.29 million euros for infrastructure projects in the neighbouring Balkan country.

The agreement was signed by Foreign Deputy Minister Andreas Loverdos and Bulgarian Economy Deputy Minister Milen Keremedshiev in Sofia.

The agreement marked the completion of a first phase of a Greek plan for the economic reconstruction of the Balkans envisaging granting a total of 550 million euros in six Balkan states.

''We begun this significant programme with signing of agreements in Yugoslavia and we are ending it now in Bulgaria,'' Mr Loverdos said. He noted that the Greek government adhered to the plan's timetable and pledges made by Prime Minister Costas Simitis.

Under the plan, Greece offered 250 million euros to Serbia-Montenegro, 19.53 million euros to Bosnia-Herzegovina, 74.84 million euros to FYROM, 70.93 million euros to Romania, 49.89 million euros to Albania and 54.29 million euros to Bulgaria.

The Greek minister stressed that now it was up to the six Balkan states to prove their ability to benefit from the implementation of the five-year programme by submitting their proposals for infrastructure projects the soonest possible.

[02] Greek companies to seek Chinese partners

A total of 40 Greek companies will participate in a meeting between 400 European and 400 Chinese companies at the Beijing International Trade Fair Centre, to be held November 7-8 in the framework of an EU-China Partenariat 2002.

An announcement by the Northern Greece's Exporters Union, the coordinator of the Greek presence in the meeting, said that the partenariat event was a joint initiative by the European Union and China's Republic to promote business cooperation between small- and medium-sized enterprises.

The union said the meeting offered Greek companies the opportunity to seek partners in China and to exploit this huge market in view of very positive bilateral relations after the Greek prime minister's visit in the country last spring.

The Greek companies represent the food production and processing, information technology, environment protection, metal products, electric appliances and technology, machinery and industrial support sectors.

[03] Sources: Vardinoyiannis interest in OA spurned so far

An expression of interest by entrepreneur Pavlos Vardinoyiannis in the privatisation of ailing national carrier Olympic Airways was vague on the question of financing for a possible purchase, and too general, government sources told the Athens News Agency on Wednesday.

Earlier, Transport and Communications Minister Christos Verelis referred reporters to the Societe Generale bank, which conveyed the expression of interest to the government, when asked to comment on the state of Vardinoyiannis' finances.

Olympic is to undergo a restructuring as the government continues its drive to sell Olympic in an adverse market.

Verelis said the government was planning to privatise the airline's Galileo electronic ticket sales subsidiary; and implied that the government might also sell Olympic's technical operation.

[04] First tracks laid as Athens awaits return of trams

The first tracks of a new tramline in the Greek capital were installed on Wednesday, less than two years before the next summer Olympics take place here and decades after the last trams were seen on the greater Athens areas busy streets.

A bevy of government officials, led by Transport Minister Christos Verelis, and contractors representatives were on hand at a brief ceremony outside one of Athens neo-classical landmarks Zappeion Hall -- where the first tracks were laid.

Work on the tramlines in central Athens, from Syntagma square across from Parliament to the boulevards surrounding the Temple of Olympian Zeus archaeological site, are expected to be completed in about two weeks, the ministry promised.

The new tram network is expected to transport almost 80,000 passengers daily, especially to and from congested central Athens, as well as improving tourists access to the Greek capitals most visible archaeological sites. Its one of Athens best-known monuments, Hadrians Arch, which has been at the centre of concern lately by local archaeologists, as one of the new tram lines passes only metres from the Imperial Roman stone and marble structure, causing worries that increased vibrations from passing tram cars will damage the site.

[05] Papandreou calls on Tirana to defuse 'border pileup' rhetoric

STOCKHOLM (ANA H. Poulidou) -- Foreign Minister George Papandreou has called on Albanias leadership to help defuse a particularly nasty spate of anti-Greek rhetoric aired recently by certain media outlets and political circles in the neighbouring country, following unprecedented traffic jams on the Albanian side of the border with Greece.

In a phone conversation with his Albanian counterpart Ilir Meta from Stockholm, where Papandreou arrived on Wednesday for a working visit, the Greek minister stressed that it was in ?both countries best interests? to defuse the situation. He added, according to reports, that such a secondary issue should not be exploited to the detriment of bilateral relations.

Papandreou is expected to speak over the phone with Albanian Prime Minister Fatos Nano regarding the same issue later in the evening, sources said.

Athens was surprised by the recent virulent reaction in the neighbouring countrys press and by certain politicians -- including former Albanian president Sali Berisha -- when the mile-long lines of cars and coaches began to pile up on the Albanian side of the border.

Greek officials, nevertheless, repeatedly emphasised that the unprecedented traffic pileup was due to the fact that thousands of Albanian workers in Greece were granted temporary residence permits over the past year, something that allowed them to travel legally to their native land and back over the Aug. 15 general holiday in Greece.

[06] First tracks laid as Athens awaits return of trams

The first tracks of a new tramline in the Greek capital were installed on Wednesday, less than two years before the next summer Olympics take place here and decades after the last trams were seen on the greater Athens areas busy streets.

A bevy of government officials, led by Transport Minister Christos Verelis, and contractors representatives were on hand at a brief ceremony outside one of Athens neo-classical landmarks Zappeion Hall -- where the first tracks were laid.

Work on the tramlines in central Athens, from Syntagma square across from Parliament to the boulevards surrounding the Temple of Olympian Zeus archaeological site, are expected to be completed in about two weeks, the ministry promised.

The new tram network is expected to transport almost 80,000 passengers daily, especially to and from congested central Athens, as well as improving tourists access to the Greek capitals most visible archaeological sites. Its one of Athens best-known monuments, Hadrians Arch, which has been at the centre of concern lately by local archaeologists, as one of the new tram lines passes only metres from the Imperial Roman stone and marble structure, causing worries that increased vibrations from passing tram cars will damage the site.

However, the government and contractors have promised to use shockproof materials and other precautions at the specific spot.

Two latest extensions, meanwhile, a 500-metre stretch from Syntagma to Zappeion and an 800-metre addition from the upscale Glyfada coastal district further southeast to the residential Voula suburb will account for close to 25 kilometres of tram lines in Athens when finished. The crucial completion date was given as before the summer of 2004 when the Olympics return to the city that hosted the first modern Games in 1896.

The tramline will feature two routes, one connecting downtown Athens with the southeastern coastal districts, and the other veering off westwards on the Faliro-Piraeus coastline, where several important Olympic venues will be located.

Verelis said the first tram car designed in cooperation with the well-known Pininfarina Group -- will arrive in Athens next May from the manufacturer in Florence, Italy.

[07] Foreign Exchange Rates - Thursday

Reference buying rates per euro released by the European Central Bank

U.S. dollar 0.990

Pound sterling 0.644

Danish kroner 7.484

Swedish kroner 9.215

Japanese yen 116.9

Swiss franc 1.482

Norwegian kroner 7.440

Cyprus pound 0.578

Canadian dollar 1.540

Australian dollar 1.792

[08] Weather Forecast: Scattered cloud on Thursday

Scattered cloud is forecast in all parts of the country, with showers and storms in parts of the Ionian and northern Aegean and on the mainland. Winds variable, light to moderate. In the north, temperatures will range from 17C to 28C; on the rest of the mainland and in the Ionian from 18C to 31C; and in the Aegean from 22C to 32C. Temperatures in Athens between 22C and 31C; and in Thessaloniki between 20C and 27C.

[09] Greek stocks end lower on Wednesday

Greek stocks came under pressure on Wednesday although they managed to end the day off their day's lows helped by a late wave of bargain hunting in blue chip stocks on the Athens Stock Exchange.

Traders said the market was hit by a negative climate in other European markets but noted that the Greek bourse showed more resilience.

The general index fell 0.69 percent to end at 2,163.64 points, with turnover a low 83.9 million euros.

The Textile, Food-Beverage and Construction sectors suffered the heaviest percentage losses of the day (4.17 percent, 3.79 percent and 2.04 percent, respectively).

Te FTSE/ASE 20 index for blue chip and heavy traded stocks ended 0.72 percent lower, the FTSE/ASE MID 40 index dropped 1.65 percent and FTSE/ASE SmallCap 80 index ended 1.11 percent down.

Broadly, decliners led advancers by 257 to 68 with another 28 issues unchanged.

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