ECONOMY

In Brief

EasyEverything and Germanos call off Greek venture The British-based EasyEverything chain of Internet cafes and Germanos IT retail company have decided to postpone for six months plans for a joint venture in Greece which had originally been slated for launching last month, according to reports after a meeting of the two sides yesterday. Germanos recently set up Web City, which has undertaken the development of the venture in Greece and neighboring countries. According to other reports, EasyEverything, which already operates 21 Internet cafes in eight countries, is facing an acute cash crisis and is considering severe spending cuts. Cypriot-born businessman Stelios Hatzioannou, who controls 99 percent of the company’s share capital following the resignation of Managing Director Maurice Kelly, is said to have forked out 15 million pounds last week from his personal property for wages to be paid. Everest expands. The listed catering company Everest has acquired 50 percent of La Pasteria restaurant chain, continuing its policy of strategic acquisitions in the last two years, a press release said yesterday. Everest, which is to pay 900 million drachmas, has also acquired the management and plans to expand the chain from 12 restaurants today to 25 by the end of 2002 and 50 by the end of 2005. SETE Vice-President T. Vassilakis urged strong promotion of the Flight Safety Foundation conference which is slated for Athens in November.