ECONOMY

In Brief

Greek exports barely top Luxembourg’s Data released yesterday by the European Commission show that Greek exports during the period from January to November 2001 (9.1 billion euros) were barely higher than Luxembourg’s (9 billion) and much smaller than Portugal’s (24.4 billion), Ireland’s (87.6 billion) or Belgium’s (184.9 billion). More worrying, perhaps, is that Greek exports declined 16 percent relative to the same period in 2000. Pipe dream? US oil majors Exxon Mobil and ChevronTexaco have denied claims that they are considering building a trans-Balkan pipeline to ship oil westward from the Caspian and the Black seas. The head of Albanian, Macedonian and Bulgarian Oil Corp. (AMBO), which manages the project, said last week the two majors are in regular discussions on the project. (Reuters) More profits Construction group Michaniki announced yesterday that 2001 group pretax profit rose 136 percent year-on-year to 12.69 million euros. Consolidated turnover was 115.27 million euros, up 7 percent on an annual basis.(Reuters)