ECONOMY

In Brief

Souflias says discredited bidding practice is on its last legs Environment and Public Works Minister Giorgos Souflias yesterday renewed his attack on those in the construction industry still favoring the maintenance of the discredited, so-called «mathematical formula,» which has been the breeding ground of collusive bidding practices by public project contractors in recent years. «The days when groups would move around in buses to submit bids are irrevocably ending,» he said, describing the reactions of those who benefited from the system as «predictable.» Souflias asked for specific proposals, rather than condemnations, for the adoption of an improved system for selecting the lowest bidder. The ministry will conduct a dialogue with all interested parties before tabling a draft bill toward the end of August. The bill may provide for the annulment of a number of projects assigned under the old system and still pending. Separately, leading construction firms submitted to the ministry a memorandum calling for drastic changes to the first draft of the bill, which they claim is permeated by a desire to «punish or threaten to punish the contractor.» They also said it increases their dependence on banks by raising the level of required guarantees for large discounts offered in bidding. Alcatel to supply OTE with equipment for Olympic period France’s Alcatel will supply OTE Telecom with advanced communication equipment for use during the August 13-29 Games, the companies said in a statement. Terrestrial and submarine optical transport systems and microwave radios were some of the products at hand to help OTE’s network cope with the demands of the Games, without any price being mentioned for the deal. (Reuters) Goldair Handling Lufthansa awarded the distinction of best airport handling station in the world for March to Goldair Handling at Athens International Airport. The carrier noted the award winner’s innovative services in view of the Olympic Games, such as telephone and past-midnight check-ins, whereby passengers traveling on morning flights may check in before going to bed. Stelmar Stelmar Shipping Ltd, which is looking into acquisitions or a possible sale of the company, said quarterly profit more than tripled as revenue from its vessels increased on global oil demand. The company, based in Athens, reported second-quarter net income of $15.8 million, or 90 cents a share, up from $4.5 million, or 26 cents a share, a year earlier. Revenue for the quarter rose 33 percent to $57.6 million. (Reuters) CSR Gasoline station chain EKO-ELDA, gaming software company Intralot, mobile phone retailer Germanos and energy group Alfa-Alfa Holdings are the new additions to the Greek network of Corporate Social Responsibility (CSR), which now lists more than 60 prominent firms and employers’ organizations. The network, which promotes the adoption of business practices in line with the concepts of social responsibility and cohesion, is a member of the Brussels-based CSR Europe. For more information, call 210.338.7422.