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Wednesday, 11 October 2023

First online platform for services to sailors

The ministries of Shipping & Island Policy and Digital Governance announced the first online platform dedicated to sailors. More specifically, the two ministries’ political leadership met to discuss works and…

Piraeus Port Authority signs new 3-year collective labor agreement

Piraeus Port Authority (PPA) announced on Wednesday the successful completion of the negotiations between the management and the unions (OMYLE) and the signing of the new Collective Labor Agreement with…

Greek shipowners focus on small containerships

Greek shipowners are lately targeting the container shipping market, claiming tonnage with guaranteed charters that offer flexibility in today’s weak conditions. The significant correction of values from the high levels…

IMF sees higher primary surpluses in Greece as of 2024

The public debt as a percentage of GDP is expected to fall in 2024 and the Greek economy to return to primary surpluses of 2%, according to the International Monetary…

Hellenic Cables and Jan De Nul sign contract for offshore wind farms in Poland

Hellenic Cables and Jan De Nul signed a contract for the construction, transport and installation of an underwater system of four export cables 220kV HVAC for the Polish offshore wind…

Greek wine and the challenges it faces

“The turnover of Greek wine in exports totaled 100 million euros in 2022, 57 million in the EU and the rest in third countries,” Aris Spaidiotis, Skouras Estate export manager,…

Two milestones that will determine the performance of Greek electrical and electronics market

The sale of Kotsovolos and the Black Friday are the two milestones that will determine the course of the Greek electrical and electronics market. More specifically, the investment interest that…

NBG: Greek businesses on a positive track in 2024

Greek businesses are expected to maintain their high growth rates in 2024, with construction and IT playing a leading role in terms of dynamics, based on the resources of the…

Tuesday, 10 October 2023

List of uncertainties that could potentially affect the 2024 budget growing

The list of uncertainties that could potentially affect the 2024 budget is growing with the flare-up in the Middle East and increases in judicial pensions adding tens of millions of…

Celestyal Cruises excludes Israel from its cruise schedule until end-November

Greek cruise company Celestyal Cruises announced on Tuesday the suspension of its cruises to Israel until the end of November 2023, following the resurgence of the Israeli-Palestinian conflict. More specifically,…

PPC confirms its interest in Kotsovolos

Public Power Corporation S.A. (PPC), in response to a relevant question by the Hellenic Capital Market Commission with respect to press articles regarding an offer by PPC for the acquisition…

Attica Bank: Resilient recovery amid deterioration in international climate

Global economic activity continues to slow, while the inflation rate is slowly declining. The short-term outlook for the European economy is deteriorating, with the German economy now facing the risk…

Inflation: Sharp drop to 1.6% in September – Slowdown in food prices

Greece’s inflation recorded a significant drop in September, according to the Hellenic Statistical Authority (ELSTAT). However, food prices remain the main problem despite the fact that the rate of increase…

Star Bulk is building two new cargo ships

All major shipping companies are slowly returning to newbuilding orders, due to pressure from the International Maritime Organization’s “green” timetable. According to “Naftemporiki”, Star Bulk Carriers, owned by Petros Pappas,…

Israel-Gaza: The impact on Greek companies

The impact on the economic and business level after the Hamas attack on Israel is still too early to assess. However, it is certain that the escalating tension in the…

Helleniq Energy’s CEO: The estimates for significant hydrocarbon deposits in Greece are premature

The estimates for the existence of significant hydrocarbon deposits in Greece are premature, Helleniq Energy’s CEO, Andreas Shiamishis, said during the industrial conference organized by the Hellenic Federation of Enterprises…

Cruise lines redesign their itineraries amid Israeli-Palestinian escalating tension

Several cruise lines are expected to redesign their itineraries after the resurgence of the Israeli-Palestinian conflict. Despite the fact that so far no company has made an official announcement, pending…

Focus Bari: More and more consumers are saying yes to private label products

The proportion of Greeks who have bought even once private label products has increased spectacularly and become universal over the last 23 years, according to a survey by Focus Bari…

Monday, 09 October 2023

New tugboats and rescue vessels turning the page

In an interview with “Naftemporiki”, the president of the Hellenic Shipowners’ Association of Tugs, Pavlos Xiradakis, referred to the great operational capabilities that the new tugboats and rescue ships will…

Athens Stock Exchange under pressure on Middle East conflict

The Athens Stock Exchange fell for a seventh consecutive week, with the General Index in free fall, with losses of 2.26% at 1,111 points. On individual sector indices, banks recorded…

Greek agreements for new dry bulk vessels skyrocketed

The Greek agreements to build new dry bulk vessels skyrocketed this year, as despite the uncertainty around “green” technologies, there is a need to renew the fleets. According to data…

Mitsotakis: Turning Greece and the region into a green energy trading hub

The Prime Ministers of Greece-Bulgaria-Romania participating in a trilateral summit in Varna on Monday stressed the importance of connectivity, with an emphasis on energy and transport, as well as convergence…

Olive oil: Concern over adulteration – Sweeping inspections

Intensive on-site inspections and sampling in olive oil standardization facilities, in wholesale and retail businesses, are carried out by the Food Analytical and Research Laboratories (EFET), amid concerns over oil…

The imminent sale of Kotsovolos to bring changes in the electronic sector

The imminent sale of the Kotsovolos chain by the English parent company Currys is expected to change the landscape in the market of electrical and electronic goods, according to market…

Ultra-Fast Broadband: A 870-million-euro broadband project in the final stretch

The road for the signing of the PPP contract for the “Ultra-Fast Broadband Infrastructures” project, with a total budget of 870 million euros (including VAT) with the second contractor, Terna…

The political landscape after the local elections; the messages sent

The government and the opposition parties are mulling the outcome of the local elections on Monday, focusing primarily on the messages at the regional level. In a total of seven…

Israel – Hamas conflict: Impact on oil prices

Israel is facing a sudden, barbaric attack by the Islamist group Hamas on its territory, with Prime Minister Benjamin Netanyahu declaring that the country is “at war”. The attack occurred…

Greece voted for mayors and regional governors on Sunday

Greece’s local and regional elections were held on Sunday, with runoff elections scheduled to take place next Sunday, October 15, in municipalities and regions where a second round of voting…

Friday, 06 October 2023

Exports: New ‘plunge’ in August – The trade deficit shrank to 2.746 billion

Greek exports recorded a new decline in August, while imports also moved on a downward trajectory, with the trade deficit shrinking to 2.746 billion euros. According to the Hellenic Statistical…

DBRS: HFSF has played a critical role in the recovery of the Greek banking sector

Greek banks have benefited from the recovery of the domestic economy and are in a stronger position after significant restructuring, DBRS noted and estimated that the HFSF divestment from the…