ECONOMY

In Brief

Turkish markets buoyant in anticipation of EU talks deal ISTANBUL (Reuters) – Turkish shares closed at a record high yesterday, while bonds and the lira rebounded as investors anticipated that Turkey would start long-awaited European Union entry talks later in the day. The main share index ended up 2.9 percent at 34,300.90, having ended the morning session 2.65 percent lower. Yields on the benchmark May 9, 2007 bond rose to 15.26 percent from 15.05 on Friday, but slipped back to 15.10 percent in Tuesday-dated trade. Investor sentiment was given another boost after the official close of trading when September inflation came in slightly below consensus expectations, strengthening interest rate cut expectations. Turkey’s consumer price index (CPI) rose 1.02 percent month on month in September for an annual rise of 7.99 percent, the State Statistics Institute (DIE) said. Unemployment down in Q2, young and women remain the worst hit Greece’s unemployment rate declined to 9.6 percent in the second quarter of 2005 compared to 10.4 percent in the first three months of the year, the National Statistics Service (NSS) said yesterday. The NSS said Greece’s jobless rate was 10.2 percent in the second quarter of 2004. The eurozone’s unemployment rate fell to 8.6 percent in July, the lowest in almost two-and-a-half years, according to the European Union’s statistics office. The NSS said that out of a labor force of 4.382 million, a total of 466,835 people were unemployed, with 36.0 percent of those who are out of work exclusively seeking full-time employment, while 86.2 percent are willing to work full time or part time. The jobless rate for women was 15.2 percent, nearly triple that of men, which stood at 5.8 percent. Unemployment was most severe, at 18.8 percent, for people in the 15-29 age group, the NSS said; women were hardest hit, with a 26.6 percent jobless rate. (Reuters) PMI The Greek Purchasing Managers’ Index (PMI) declined to 52.1 points in September from 53.2 in August, after rising for three consecutive months, according to NTC Research which compiles it. The drop indicates expectations of slowing orders growth in coming months. The Greek PMI, in which a figure of less than 50 indicates actual fall, is compiled on the basis of the views of 300 managers in the manufacturing sector and showed continuing growth for the fifth consecutive month. Exports continued being the main booster of new orders. Production grew for a 22nd consecutive month. Emirates Emirates Airline flies from Athens direct to Dubai five times weekly (except Thursdays) and once, on Saturdays, via Larnaca. The carrier offers free chauffeur service to First and Business Class passengers leaving from or arriving at Athens airport within a 60km radius of the airport. Dairies Piraeus Bank’s Cultural Center is organizing a three-day scientific symposium on the history and social and cultural aspects of Greek dairy products, at Z-Palace hotel in Xanthi, Thrace, Friday to Sunday.