ECONOMY

In Brief

Young entrepreneurs have 30-million-euro plans The first round of the investment-subsidized program Young Entrepreneurship has included 371 investment proposals with budgets totaling 30 million euros, the Development Ministry said yesterday; the second round is expected to be launched in the autumn. The program concerns proposals by people aged up to 35 in the areas of e-commerce, manufacturing, services and tourism, which are 50-percent subsidized under the EU’s Third Community Support Framework; 15 percent of the cost represents 14 projects undertaken by non-profit making concerns including professional chambers. Manufacturing expanding, PMI up in April Greece’s purchasing managers index (PMI) rose to 54.3 in April from 53.7 in March, confirming that manufacturing continued to expand at rates higher than eurozone averages. NTC research and the Hellenic Purchasing Institute said April’s seasonally adjusted PMI marked the 35th rise in Greece in 36 months, at expansion rates not seen since November 2000. April’s increase was due to a rise in output, new orders, procurements and employment in the manufacturing sector. (Reuters) Bourse candidates Seventeen firms have gained priority in their candidacy for listing on the Athens bourse (ASE) after underwriters pledged to keep the share price stable after entry, a press release said yesterday. The 17 are Lapin House (clothing), Sykaris (electric retailer), KM Oil, Envitec (construction), Sprider (clothing), Fragakis (construction), Neochimiki (chemicals), Domotechniki (construction), Tsampras (construction), Messaikos (construction), Terna Energy (construction), Caravel (hotels), Pansystems (software), Prometheus Gas (energy), Mitera (health), Alpha Grisin (IT consultants) and T. Apostolakis (textiles). Of the 365 firms on the waiting list for the ASE, 108 are at the file examination stage. Of these, 55 have applied for the Parallel Market, 36 for the Main Market and 17 for the New Stock Market. CosmOTE OTE Telecom Chairman and Managing Director Lefteris Antonakopoulos was also elected on Tuesday chairman of mobile subsidiary CosmOTE, following the resignation of Nikos Manasis. Award EFG Eurobank Ergasias has received an award from business consultants KPMG as the best Greek firm in staff selection and retaining. Sarantis Personal care products manufacturer Sarantis has finalized an agreement for the acquisition of an initial 52.2 percent of Poland’s SD Pack Plast International, based in Plaseczno, the company said in a press release. Sarantis plans to buy at least 70 percent of the Polish company, at a total cost of 8.7 million euros. Electricity bills The summer hours for lower household electricity rates came into effect yesterday: 11 p.m. to 7 a.m. They will apply until October 31.