ECONOMY

In Brief

Greek, Turkish travel agents see future in collaboration Senior officials of the Greek and Turkish associations of travel agents, HATTA and TURSAB respectively, discussed cooperation at various levels during a meeting in Athens yesterday. TURSAB proposed the inclusion of a visit to Greece in package tours for Chinese tourists for which it is currently in negotiations, and expressed interest in providing assistance in any transportation requirements that arise during the 2004 Olympic Games. The Turkish visitors also proposed close collaboration during the two countries’ proposed joint hosting of the European soccer championship in 2008. The two associations exchanged invitations for the Philoxenia 2002 tourism exhibition in Thessaloniki later this fall, for «Faith Tourism Days» from October 25 to 27 and for the Mediterranean Tourism Exhibition from February to March 2003 which TURSAB is organizing. For further info, tel 010.9223522, or e-mail [email protected] Separately, the chairman of Poland’s tourism organization Andrzej Kozlowski and Polish Deputy Tourism Minister Malgorzata Okonska-Zareba are attending the conference of Polish-American Travel Agents being held on Myconos, between October 17 and 23. Greece protests EU warning on strategic oil reserves The Development Ministry said a European Commission warning on Wednesday for Greece to boost strategic oil stocks or face a possible fine by the European Court was due to «some sort of a misunderstanding.» The ministry’s secretary-general, Giorgos Agrafiotis, was reported by The Associated Press as saying that Greece is currently keeping reserves for 109 days, while the EU mandatory requirement is 90 days. Kotsovolos Shareholders of electric appliances retailer Kotsovolos approved the merger through absorption with subsidiary Radio Athinai and the extension of company activities into real estate management and natural gas connections. They also approved an amendment to the company’s articles of association, granting the right to Britain’s Dixons Group Plc to appoint one member to the board of directors if it is in possession of shares representing at least 13 percent of share capital. Despec Athens bourse-listed Despec Technology Holdings (DTH) has frozen plans to absorb Dutch company Despec Groep BV, citing difficulties as a result of the negative stock market climate. The merger was to be carried out through the 100 percent acquisition of Braveland Holding BV, the sole shareholder of Despec Groep. DTH already owns 30 percent of Braveland. The two companies said they will continue close collaboration in existing distribution networks. Bank conference The Greek and Cypriot bank workers’ unions, OTOE and ETYK, are hosting an international conference at ETYK headquarters in Nicosia on November 1 on the impact of the changes brought about by the new economy on processes of dialogue among workers, employers and governments in Europe. The conference is part of EU-funded project Dialogo.s.