The government is considering assigning to a private company part of the data to be collected from the E9 property form that is mandatory for taxpayers this year, with a view to having a complete property register in place by January 1, 2006, Deputy Finance Minister Adam Regouzas said. He also instructed the tax department to intensify efforts, using cross-checking of electronic data, for identification of tax evasion. Separately, the Finance Ministry said enterprises can form a special tax-free reserve of up to 35 percent of their undistributed profits for the fiscal years from 2005 to 2009, irrespective of the category of books they keep.

Greek manufacturing growth picked up marginally in February from the previous month, thanks to strong output and purchasing growth, a monthly survey of around 300 companies showed yesterday. The Purchasing Managers Index (PMI) rose to 51.8 from 51.4 in January. The 50 mark separates growth from contraction. The NTC research company, which compiles the index, said input price inflation eased for the fourth consecutive month to the least shown in 18 months. But employment in manufacturing contracted for the sixth month running in February, though only at a marginal rate. The majority of firms noted no change in their employment levels.

The Development Ministry yesterday unveiled a draft bill on controls for the distribution and storage of oil products, designed to fight the illegal trading and adulteration of fuels. A Directorate for Fuel Distribution and Storage is being set up, hitherto restricted to the Attica region, throughout the country. Fining procedures for adulteration are amended and violators must pay at least 20 percent of the fine before they can appeal. The bill also establishes the direct access of gasoline stations to refineries, and grants facilities for the expansion of the Public Gas Corporation’s network.

The Athens and Cyprus stock markets are planning a common platform to support their operation and facilitate access to both. “This effort will materialize within 2005, helping us to create a single market in our broader region,” ASE President Spyros Capralos said. Cyprus Stock Exchange President Akis Kleanthous added that “this agreement marks a new era for CSE, which now has to respond to the increased needs of the Cypriot economy within Europe.”

Georgios Paterakis has been appointed new chairman and CEO of Hellenic Shipyards, owner Thyssen Krupp Marine Systems announced yesterday. Paterakis, 44, studied aircraft engineering and business administration in Munich and has worked in Germany and in German companies in Greece.

Turkish Prime Minister Recep Tayyip Erdogan said yesterday he expected Turkey’s economy to have grown 8.5 percent in 2004, well above the 5 percent original official target. (Reuters)