ATHENS， April 8 (Xinhua) -- An agreement between Greece's privatization fund HRADF and China COSCO Shipping Corporation for the sale of the majority stake in Piraeus Port Authority (PPA) was signed on Friday in Athens.
Under the deal， the Chinese investors will pay 280.5 million euros to HRADF for the initial acquisition of a 51 percent stake， while it will pay another 88 million euros within five years for the remaining 16 percent， provided it has implemented the agreed investments in the port.
The agreement was signed by HRADF chief Stergios Pitsiorlas and COSCO Hong Kong CFO Feng Jinhua in the presence of Greek Prime Minister Alexis Tsipras， China COSCO Shipping Chairman Xu Lirong and Chinese Ambassador to Greece Zou Xiaoli at the office of Greek Prime Minister.
Welcoming Xu at his office， Tsipras said the agreement signing will "cut the 'Silk Road' shorter."
Addressing distinguished guests after the ceremony at the Zappeion Exhibition Center in Athens， Xu said China COSCO Shipping has always been committed to harmonious development in Greece and a win-win situation for all parties.
In addition， China COSCO Shipping will not only operate a port that will connect Asia and Europe trade， but will also create jobs and help invigorate the Greek economy， he added.
On the Greek part， Greek Deputy Prime Minister Yannis Dragassakis said these agreements are of strategic nature as they are not temporary， but can generate prospects for the next decades.
Chinese Ambassador to Greece Zou Xiaoli added that the agreement marked a historic milestone for Sino-Greek friendship and relationships at multiple levels.
Since 2009， China COSOCO Shipping's subsidiary Piraeus Container Terminal (PCT) has been operating Piers II and III at Piraeus port under a 35-year concession agreement， posting remarkable results， while PPA was running Pier I until today.
China COSCO Shipping's vision to turn Piraeus into a leading international transit hub for products and services from Asia to Europe has already attracted other major multinationals to the port which are cooperating with PCT to distribute their products in the region.
WASHINGTON Nike Air Force 1 , April 16 (Xinhua) -- The U.S. economy has emerged from the severe winter weather with business activities picking up in most of the regions, a survey by the Federal Reserve showed Wednesday.
In the Fed's latest Beige Book which gauges 12 regions' economy in the past two months Cheap Air Force 1 , ten districts showed "modest or moderate" expansion, while Cleveland and St. Louis reported declines.
Chicago reported that growth had picked up Air Force 1 Sale , while New York and Philadelphia indicated business activity had rebounded from weather-related slowdowns earlier in the year.
The latest report confirmed Fed's view in early March that the U.S. economy was affected by the severe winter weather from January to early February, but the outlook remained optimistic.
The Fed releases the Beige Book eight times a year to provide a snapshot of the local economy and updates it two weeks before each of its monetary policy meeting. The Fed's policymakers will meet on April 29 to decide weather to continue scaling back the bond purchase as the economic recovery is on an increasingly solid footing.
Consumer spending increased in most districts Air Force 1 Shoes , as weather conditions improved and foot traffic returned. The transportation sector generally strengthened with higher port volumes and increased trucking.
Manufacturing improved in most districts, and several of them reported the impact of winter weather was less severe than earlier this year.
Housing prices rose modestly and inventory levels remained low. Residential construction increased in several regions Air Force 1 Wheat , and commercial construction also strengthened.
The labor market conditions were mixed but generally positive. Employers in New York, Cleveland Air Force 1 Flyknit , Richmond, Chicago Air Force 1 Mid , Kansas City and Dallas reported difficulty finding skilled workers.
In most districts, wage pressures were generally portrayed as contained or minimal. Prices were mostly steady Air Force 1 High , with scattered reports of increases.
Janet Yellen, chair of the Federal Reserve Air Force 1 Low , said Wednesday that the Fed's current outlook for continued, moderate growth is little changed from last fall Air Force 1 , and a significant part of the recent softness was weather related.
BEIJING， April 23 (Xinhua) -- Mobile phone users can read a selection of Chinese classics on messaging app WeChat from Saturday， World Book Day.
Put together by Zhonghua Book Company， the selection includes more than 300 texts on literature and history， such as "Twenty-five Histories" and "A General Mirror for Governing the World."
WeChat is the most popular messaging app in China， with more than 500 million registered users.
According to survey results released by the Chinese Academy of Press and Publication on Tuesday， 60 percent of Chinese did most of their reading on mobile phones in 2015， up 8.2 percent from 2014.
By Maria Spiliopoulou
ATHENS， Sept. 25 (Xinhua) -- Greek veteran triple jumper Pigi Devetzis， who won the silver medal in the Athens 2004 Olympic Games and the bronze in the 2008 Beijing Games， admitted on Sunday that she was under inquiry by the International Olympic Committee (IOC) regarding her participation in the Beijing Olympics， but strongly denied allegations that she had used doping substances.
In November 2015， Greece's Athletics Federation (SEGAS) announced that Greek authorities were formally notified by the International Association of Athletics Federations (IAAF) that Devetzis was tested positive for a banned substance in 2007.
The athlete expressed severe doubts regarding the entire anti-doping test procedures， but lost the bronze medal she won in the 2007 World Championships in Osaka， Japan.
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