ECONOMY

In Brief

Olympic Airlines surcharges soar higher due to oil price increases Olympic Airlines is raising surcharges on domestic flights by 27 percent to cover the rising cost of fuel. The fee is increasing to 14 euros per passenger per flight from 11 euros, the company said yesterday in an e-mailed statement. The fee applies to each leg of a flight, the statement said. Olympic raised the surcharge on international flights by four euros to 24 euros on October 8. Aegean Airlines SA, Olympic’s biggest rival, increased its fuel surcharges on September 24 by 2 euros for domestic flights and an extra 4 euros for international flights. (Bloomberg) Turkey’s Jan-Oct gold jewelry exports up 19.2 pct LONDON (Reuters) – Gold jewelry exports from Turkey, one of the top three exporters, rose 19.2 percent year-on-year to 80.6 tons in the first 10 months of the year, exporters’ data showed yesterday. Exports in October alone were up 4.6 percent to 9.3 tons. In financial terms, exports in the first 10 months of the year reached $991.5 million, up 29.8 percent year-on-year. Turkey’s gold jewelry exports fell more than 20 percent to 85.8 tons in 2006, when high and volatile gold prices prompted producers and consumers to postpone their purchases.But this year, steadier world gold prices during the first three quarters and exporters’ efforts to diversify its markets helped the country to boost its foreign sales in 2007. Exports to the United States, still Turkey’s biggest export market, fell by 11 percent in the first 10 months of the year. Alapis in Albania Listed firm Alapis announced the foundation of a subsidiary in Albania, named Veterinpharma Albania Shpk, based in Tirana. The purpose of the new company is the production and trading of chemicals and medicines for human and veterinarian use, of agricultural products, food components and animal food. Brixlegg Serb bid Brixlegg, the copper producer of Austria’s A-Tec Industries, made the best bid for troubled Serb copper complex RTB Bor, offering $466 million, an official said yesterday. Russian fund Strikeforce, the only other bidder, offered $370 million. «The official ranking of bids will follow, and after that negotiations will start,» said Luka Andric, president of the commission overseeing the tender. (Reuters) Bosnia rating safe Bosnia’s serious political turmoil does not pose an immediate threat to its credit rating, which will come under pressure only if the country heads for breakup or government finances take a hit, Moody’s said yesterday. Moody’s is the only major agency to rate Bosnia and has it on B2, a highly speculative grade, on a par with Cambodia, Honduras and Turkmenistan. (Reuters)