ECONOMY

In Brief

Accord with food industry, retailers to keep prices steady Development Minister Nikos Christodoulakis and representatives of the food industry and supermarkets signed an agreement yesterday that will keep the prices of widely consumed goods steady during the coming months. The agreement, which is expected to be signed by other industry and retail representatives, aims at avoiding a surge in inflation with the introduction of the euro, on January 1, 2002. Recently, the ministry forbade undercutting the competition by selling at below cost. Athens 2004, USOC agreement. Athens 2004, the organizers of the Olympic Games, and the United States Olympic Committee (USOC) reached an agreement for the sale of Olympic products in the USA. Following the approval of the International Olympic Committee, Athens 2004 president Gianna Angelopoulos-Daskalaki and USOC president Sandra Baldwin will sign the agreement in November, in New York City. Athens 2004 expects sales to reach at least $5 million. Rate cuts. EFG Eurobank Ergasias announced rate cuts yesterday. Eurobank said it would cut rates on sa vings deposit accounts and for base working capital loans by 50 basis points, effective September 12. The bank said the reduction would give its Neo Tamieftirio account interest rates of between 2.25 and 3.50 percent, depending on the balance. (Combined reports) -In the Med., and in spite of the scarcity of modern tonnage, 80,000 tons of cargo are fixed at W/S 125-130 while on Cont., same size of cargo is fixed at W/S 115.