English

Thursday, 31 October 2019

Court provides temporary relief from creditors for Creta Farms

Βy D. Alexaki [email protected]  Troubled luncheon meats maker Creta Farms, among the biggest such enterprises in Greece, on Wednesday was granted protection from creditors by a first instance court in…

Greece still at EU-28 average in terms of tax revenues-to-GDP ratio despite fielding extremely high rates

By N. Stasinou [email protected] Despite the Greece remains among the world’s “champions” in terms of official tax rates, as annual World Bank and Organisation for Economic Co-operation and Development (OECD)…

Initial forecasts of major natgas deposit south of Crete raise eyebrows

By K. Deligiannis [email protected] Headlines on Thursday morning in Greece mostly focused on seismic results pointing to the prospect of a major natural gas deposit in a block, south of…

Wednesday, 30 October 2019

Greek bond yields continue to post record lows

Βy E. Triiri [email protected] Greek bonds this week to continued to post new records, with the yield for the 10-year bond falling on Wednesday by three basis points, to 1.18…

Berlin proposing sweeping change of asylum framework; migrants flows to Greek isles continue unabated

German federal interior minister Horst Seehofer on Wednesday announced a plan change the Dublin Regulation, whereby a simple examination of an asylum applicant will take place in the country where…

Draft bill expected to finalize sell-off of natgas utility; further liberalize sector

By K. Deligiannis  [email protected]  The last details are being included in an omnibus draft bill affecting the energy sector in Greece, with the expected highlights being the process to privatize…

Tuesday, 29 October 2019

4.1R quake north of Crete on Tues.

An earthquake measuring 4.1 on the Richter scale was recorded at 15.01 (13.01 GMT) in a sea region north, north-east of the city of Irakleio (Herakleio), Crete. The tremor was…

Mitsotakis: Those who exploit refugee crisis for geopolitical gains shouldn’t lob claims about Greece

Greek Prime Minister Kyriakos Mitsotakis on Tuesday underlined that Greece was dealing with “flows of refugees and migrants that are asymmetrical to its size and population”, while flatly dismissing recent…

Zaev: Failure to receive accession talks date endangers Prespa agreement

The prime minister of recently renamed North Macedonia, Zoran Zaev, this week bemoaned the fact that opposition by at least three EU members, most notably France, to a date for…

Three separate instances of migrants picked up by coast guard reported overnight

Another three separate incidents were reported overnight involving the pickup, by the coast guard, of third country nationals attempting to reach Greek territory aboard flimsy craft, with a total of…

Monday, 28 October 2019

ESM’s board of directors gives ‘Ok’ to Greece for early payment of certain IMF loans

The European Stability Mechanism (ESM) on Monday, along with its affiliated European Financial Stability Facility (EFSF), provided the “green light” to Kyriakos Mitsotakis’ government to prematurely pay-off a portion of…

Annual ‘OXI Day’ commemorations in Greece mark country’s entry into WWII

Greece on Monday marked the 79th anniversary of the country’s entry into WWII on the side of the Allies with the annual military parade through the northern metropolis of Thessaloniki,…

Saturday, 26 October 2019

S&P upgrades Greece’s credit rating to BB-

Standard & Poor’s on Friday upgraded previously crisis-ridden Greece’s credit rating by one notch to BB- with a positive outlook. The agency added that another upgrade may follow in 2020.…

Friday, 25 October 2019

More legal troubles for troubled Folli Follie

The semi-autonomous Hellenic Corporation of Assets and Participations S.A. (HCAP) has filed a demand for 12.34 million euros from embattled retail and accessory maker Folli Follie, while the company and…

JTI to produce Winston cigarette brand at Sekap facility in NE Greece

Multinational cigarette-maker Japan Tobacco International (JTI) has commenced production of its Winston brand for Greece and another nine countries at the once state-owned Sekap facility in northeast Greece. Production began…

Amendment purportedly open way for 2.3-bln€ in currently blocked public works

A last-minute amendment tacked on to an omnibus bill ostensibly aims to free-up public works tenders worth 2.3 billion euros, including a fourth line for the Athens metro network. Essentially,…

Citi report appears ‘bullish’ over Greek economic prospects

Citi paints a decidedly positive picture this week of the Greek economy – a few years after forecasting that the country would crash out of the Eurozone – with a…

Thursday, 24 October 2019

Parliament ratifies landmark bill aimed to crop bureaucracy; allow municipalities right to outsource services

A closely scrutinized and massive draft bill focusing on economic development was passed by a majority of 165 deputies in Parliament – out of 287 voting – on Thursday evening,…

Greek tax bureau calculates billions of euros in losses from thousands of fake, ‘phantom’ invoices since 2013

By G. Palaitsakis [email protected] A veritable “cottage industry” of fake and “virtual” invoices, following revisions in the tax code dating to 2013, has reportedly led to losses for the Greek…

Farmer discovers headless ancient statue while tilling his field in central Greece

A significant archaeological find turned up near the village of Dolichi, near the central Greek city of Elassona this week, with a farmer discovering a major part of a headless…

Poll: Ruling ND party retains double-digit lead over rival SYRIZA

Ruling New Democracy (ND) party retains a 13.5-percentage point lead over main opposition SYRIZA party in the latest monthly opinion poll by the Pulse firm, collecting 38.5 percent of respondents’…

Reports: Govt annoyed with bevy of fees imposed by banks for simple transactions

Adhering to corporate social responsibility is, on the surface, the main topic on the agenda of Thursday’s meeting between Greek Prime Minister Kyriakos Mitsotakis and the heads of the country’s…

Greek minister: Physicians supplied migrants with med diagnoses to avoid deportation

Greece’s relevant public order minister on Thursday charged that an determined number of physicians in the country, all with private practices, have provided “thousands” of diagnoses towards third country nationals…

Govt suspends VAT rate imposition on building licenses, retroactively from Jan. 1, 2006

Greek Prime Minister Kyriakos Mitsotakis used an Economist roundtable forum on Wednesday evening to announce a suspension in the imposition of VAT rates on building licenses, with a retroactive effect…

Wednesday, 23 October 2019

Βinding offer unsealed for Piraeus’ unoccupied high-rise building

By T. Igoumenidi [email protected] A binding offer for the 99-year of a high-rise building in Piraeus’ business district was opened this week, with a consortium consisting of Prodea Investments, Dimand…

Report of Chinese restrictions, higher duties on imported marine equipment, services raises major concern in Piraeus

By A. Tsimplakis [email protected] The specter of restrictions and increased custom duties on imported marine equipment and spare parts as well as in the provision of maritime services to vessels…

Draft amendment will allow purchase of ‘Golden Visa’ via POS, credit/debit card payment

The purchase of a so-called “Golden Visa” by third country nationals will soon be achieved via a POS terminal, as envisioned in a amendment included in a draft bill aimed…

Mykonos makes AirBnB’s top 20 list in terms of users’ interest

Jet-setting Mykonos, the best-known of Greece’s Cyclades islands, appears at number 19 on AirBnB’s list of up-and-coming destinations, with trending (users’ interest) in the popular summer destination increased by a…

McDonald’s presence in Greece growing; profitability up

 By S. Emmanuil [email protected] Premier Capital Hellas, McDonald’s licensee for Greece, appears ready to continue its expansion in the country, on the back of significant capital reserves and liquidity that…

Union of local gov’t workers strikes in opposition to private sector involvement in sanitation

A union representing employees in local government entities, mainly municipalities, continued an industrial action on Wednesday, in opposition to draft legislation that mandates a majority of votes, by active union…