Athens News Agency: News in English, 10-12-31

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

CONTENTS

[01] OTE to cut executive bonuses

[02] Greek retail sales down

[03] ASE opening: Rise

[04] Athens Newspaper Headlines

[01] OTE to cut executive bonuses

In an internal document, Mihalis Tsamaz, chairman and chief executive of the Group, said that starting from Jan. 1, 2011 the board will not pay out a bonus on achieving goals for 2011 and will end the use of a professional credit card by high-ranking executives, such as directors and general managers, citing the general financial condition in the country and the need to rationalise spending in OTE.

Deutsche Telekomâs officials said recently that OTE should cut its payroll costs, while Greek Finance Minister George Papakonstantinou, in a letter sent to the managements of public sector enterprises, called for strict adherence to a government plan to cut costs in the wider public sector.

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[02] Greek retail sales down

The statistical service, in a report, said the October decline reflected a 14.6-pct drop in sales of furniture-electric appliances-home equipment, an 11.3-pct fall in clothing-footwear, a 10.7-pct fall in pharmaceutical-cosmetics and a 9.1-pct decline in large food stores.

The retail sales turnover index fell 2.0 pct in October from the same month last year, after a decline of 14.2 pct recorded in October 2009.

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[03] ASE opening: Rise

Individual sector indices were moving upwards, with the biggest gains in Insurance, up 5.79 percent; and Personal and Household Goods, up 1.43 percent.

The biggest losses were in Media, down 3.72 percent and Oil and Gas, down 0.29 percent

The FTSE/ASE 20 index for blue chip and heavily traded stocks was up 0.47 percent, the FTSE/ASE MID 40 index was up 0.30 percent, and the FTSE/ASE-80 small cap index was up 0.76 percent.

Of the stocks traded, 31 were up, 11 were down, and 17 were unchanged.

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[04] Athens Newspaper Headlines

The major issues facing the country during the coming New Year and a bomb attack outside the administrative first instance courthouse in Athens along with the ever-present dire economic situation mostly dominated the headlines on Friday in Athens' newspapers.

ÁDESMEFTOS TYPOS: "A bomb devastated everything at courthouse".

AVRIANI: "Profiteers ready for 'Black Monday'."

AVGHI: "2011: Zero year".

CHORA: "2011: What kind of democracy we will have?"

ELEFTHEROS TYPOS: "Bomb to fairytale of terrorism's eradication".

ELEFTHEROTYPIA: "New year arrives with 11 burning issues".

ESTIA: The newspaper re-publishes its 1900 edition.

ETHNOS: "2011 year landmark for Greece and Europe".

KATHIMERINI: "2010's heavy burden casts shadow on 2011's dawn".

LOGOS: "Greece in recession in 2011".

NAFTEMPORIKI: "100 difficult days ahead with harsh ratings".

NIKI: "The 365 days that rocked Greece".

PROTO THEMA: "Turkish invasion with cheap loans!"

REALNEWS: "Following an Austrian judge's charges on swaps ... prosecutor knocks on (Costas) Simitis' (the ex prime minister) door".

RIZOSPASTIS: "Communist Party's message for the New Year: Hope for the people with counter attack".

TO VIMA: "The year of fear and major reversals".

VRADYNI: "Social security: Guide for 2011".

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