ECONOMY

In Brief

Hellenic Petroleum wins Montenegro oil firm tender PODGORICA (Reuters) – Montenegro has chosen Greece’s Hellenic Petroleum as the best bidder for its oil firm Jugopetrol Kotor, a government official said yesterday. The government announced the sale in August, offering a majority 54.35-percent stake of its crude oil importer and oil products trader Jugopetrol Kotor. «A tender commission has assessed the best bid of the Greek national oil firm Hellenic Petroleum, which has offered 65 million euros ($63.91 million) for a controlling stake,» an official said. The value of Jugopetrol Kotor has been assessed at 68 million euros. The seven-member tender commission picked Hellenic Petroleum from six major regional players which had shown interest in Jugopetrol – Slovenian Petrol, Croatian INA, Russian Lukoil and Lanrusinvest, and the Austrian-Slovenian grouping of OMV and Istrabenz. Jugopetrol Kotor is a small joint stock downstream oil and gas company, partially owned by the state, with upstream offshore exploration and production rights. The company also has a network of 33 retail petrol stations. It employs 600 people. Despite complaints, tourism receipts up in seven months Tourism receipts were up 1 percent to 5,769.6 million euros in the seven months to July compared to the same period of 2001, the National Tourism Organization (EOT) said, citing Bank of Greece data. Receipts were up 5.35 percent in July from a year earlier. Luxury hotel occupancy rates in Attica rose to 46.3 from 45 percent in August, of first-class hotels to 63.7 from 62.1 percent, while a fall was recorded in second-class hotels to 63.3 from 63.9 percent, according to the Athens Hoteliers Chamber. EAB A new strategic growth plan will be ready within six months for state-run Hellenic Aerospace (EAB), including an organizational overhaul, with a view to meeting modern requirements and putting its finances on a sound footing, Chairman and Managing Director Dionysis Xenos told a press briefing at the Defendory International armaments show. EAB is implementing partnerships with foreign concerns in aircraft maintenance and general aviation technical and training support, and tenders will be completed by year-end, he said. One scheme concerns repair of Russian-Chinese made F-8 aircraft of the Chinese airforce. Singular Delta Singular subsidiary Singular Software announced a strategic partnership with Microsoft and Intel for the provision of innovative IT solutions for small and medium-sized enterprises (SMEs). The scheme «creates very significant synergies, providing added value for boosting the competitiveness and securing the viability of SMEs,» a statement said. Infosystem The 16th Infosystem international show opens in Thessaloniki today, lasting until October 6 and taking place in tandem with the Eighth Information Technology Applications conference from today till Saturday, and the Fourth International Technology and Automation conference on Saturday and Sunday. The show has drawn 484 firms, of which 324 are based in 27 foreign countries. Entrance is free for commercial visitors, costing 4.50 euros for others and 1.50 euros for students from 12-9 p.m. on weekdays and 11 a.m. to 9 p.m. at the weekend.