ECONOMY

In Brief

Lamda Development expects sharp growth in coming years Construction and real-estate firm Lamda Development is currently engaged in 10 projects with a total budget of more than 600 million euros and expects turnover to multiply in coming years, officials told a press briefing. First-half pretax profits were up 63 percent in relation to the same period of 2001, on 116-percent turnover growth. The company’s investment program stands at 700 million and the value of its assets at 140 million euros. A 115.5-million-euro share capital increase will be completed by October 8. The firm said it will deliver, as scheduled by May 2004, the Olympic media village which will be built on 10 hectares in the area of the Olympic Stadium, with 15 acres more for green and open spaces. The village, which will host 1,600 journalists, will include a commercial and recreational complex. INKA consorts with vendors and restaurateurs on consumer problems The Institute of Consumer Protection (INKA) said it had signed memoranda of cooperation with the national federations of street market vendors and restaurateurs to deal with problems faced by consumers. Measures will include checks in street markets and the issuing of a bulletin and the introduction of a comments sheet for restaurant clients. Deputy Development Minister Christos Theodorou said intensive market checks were continuing and the government would look into the issues concerning the threatened strike by street market traders and truckers. INKA said it had received 84,880 complaints in the first eight months of 2002, up from the same period of 2001. These mostly concerned prices, foodstuffs, tourism services, slimming centers and banking / credit card services. INKA urged the Development Ministry to take measures against aggressive sales methods by banks and slimming centers. Catering A consortium consisting of the Daskalantonakis Hotel group (50 percent), catering firm Everest (40 percent) and Olympic Catering (10 percent) has won the contract to run a restaurant and a cafe / snack bar at the headquarters of Athens 2004, the organizers of the Olympic Games. The contractors will cater for an estimated 3,000 people daily until December 31, 2004. Zootechnia The third international exhibition for animal farming, Zootechnia, opens in Thessaloniki’s fair grounds today, lasting until Sunday. The exhibit, which has drawn 335 direct and indirect participants from 22 countries, includes events for animal lovers and pet owners. Sugar The Hellenic Sugar Industry (EBZ) is the only bidder for two of the six sugar plants which the Yugoslav government has put up for privatization. One bid is for 70 percent of Fabrika Secera Sajkaska and the other for a 50-50 joint acquisition with a local partner of Fabrika Secera Crvenke. Both plants, each producing 30,000-40,000 tons of sugar annually, are in Vojvodina. EBZ, which has also bid for a plant in the Former Yugoslav Republic of Macedonia as part of regional expansion plans, is expecting an official notification for talks by mid-October.