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Friday, 07 June 2019

Greek bond spread continue to drop, amid ‘bullish’ outlook

By E. Triiri [email protected] Greek bond spreads continued to post historic lows this month, following the trend in the Eurozone but also on the back of new figures showing a…

Battered PPC still owed 200 to 250 mln€ by Greek state; Commission: power rate hikes necessary

By K. Deligiannis [email protected]  Arrears owed to the Public Power Corp. (PPC) of between 200 to 250 million euros, dating to 2011, related to public utility offsets, remain “up in…

Eurostat: Greek GDP growth falling behind Eurozone, other post-bailout EZ members

By N. Bellos [email protected]  Greece’s annual GDP rate has slowed, compared to the three previous quarter, according to comprehensive figures announced this week by Eurostat. Nevertheless, the EU executive’s statistics…

Frigoglass to shut down western Greece plant

Frigoglass on Friday morning abruptly announced the closure of its plant in the Kato Achaia district of western Greece, near the port city of Patras. A parent company statement noted…

Thursday, 06 June 2019

Motor Oil Group GS meeting approves 0.95€ per share dividend for 2018, on top of 0.35€ pre-dividend

By J. Kanoupakis [email protected] A general shareholders’ meeting of Motoroil Group, one of the two biggest petrochemical producers in Greece and the only fully privately held concern, on Wednesday announced…

Mitsotakis, US Amb. Pyatt meet on Thurs

Main opposition New Democracy (ND) president Kyriakos Mitsotakis on Thursday met with US ambassador to Greece Geoffrey Pyatt, with talks touching, as expected, on bilateral issues as well as regional…

Govt backs off from pre-election transfers, appointments in Parliament, following outcry

The government on Thursday afternoon backed off a hasty plan to transfer 32 civil servants from other state entities to Parliament and its affiliated foundation, after a firestorm of criticism…

UK shipping minister tours Piraeus Port Authority on Thurs.

The UK’s transport and maritime minister, Nusrat Ghani, on Thursday toured the port of Piraeus, where she was received by Piraeus Port Authority (PPA) deputy CEOs Capt. Weng Lin and Angelos…

Amnesty International hails Tsipras govt’s ‘about-face’ over definition of rape in proposed penal code changes

Amnesty International, in a relevant announcement, on Thursday afternoon praised the withdrawal of a proposed amendment to Greece’s penal code, which aimed to alter the definition of the offense of…

Venizelos makes farewell address in Greek parliament

Former minister Evangelos Venizelos, one of Greece’s most prominent politicians and lawmakers, on Thursday made what he said was his last address in Parliament, confirming that he will not stand…

Media reports point to cascade of last-minute hirings, accommodation of SYRIZA cadres, relatives before Parliament closes

A cascade of late-minute hirings by Parliament’s foundation, signed by Parliament President Nikos Voutsis, along with numerous transfers of civil servants from one state entity to another – 32 alone…

Govt appears to back down on proposal to change definitions of rape in penal code, amid firestorm of reaction

The relevant justice minister on Thursday, from Parliament’s podium, announced an “improvement” in proposed changes in the criminal code referring to the definition of the offense of rape, succumbing to…

Hybrid wind/hydro power unit on Ikaria expected to produce half of isle’s energy needs

By K. Deligiannis [email protected]   A new hybrid power unit on the verdant eastern Aegean island of Ikaria will generate up to 50 percent of the power consumed on the…

Wednesday, 05 June 2019

OPAP exceeds forecasts, posts net profits of 57.2 mln€ in Q1 2019

The ATHEX-listed Greek Organisation of Football Prognostics S.A. (OPAP), which runs betting parlors and manages games of chance in the country, on Wednesday reported a 43.5-percent increase in net profits…

Piraeus Bank e-auction of 42 properties around Greece next month

By E. Sakellari [email protected] The Piraeus Bank Group will offer up 42 properties it owns around Greece, with an electronic auction set for July 9 and 10 on its special…

Unprecedented honor by American Bureau of Shipping to Greece-based Arcadia shipping for flawless inspections

By A. Tsimplakis [email protected] Greece-based Arcadia shipping has been honored by the American Bureau of Shipping (ABS) as the posting the best  performance in vessel inspections for 2018, with company…

Outcry over last-minute attempt by Tsipras govt to amend penal code; critics point to attempt to downgrade rape offense, in some instances

Proposed amendments to Greece’s penal code and the code of criminal procedure, tabled in Parliament this week after Greek PM Alexis Tsipras signaled his intent to resign and declare snap…

Net revenue from Cyprus’ ‘Aphrodite’ valued at 9.5 mln USD

Net revenue for the Republic of Cyprus from the sale of natural gas from the “Aphrodite” offshore deposit to  Egypt’s Idku LNG terminal are worth 9.5 billion USD, based on…

Commission report: Risks of Greece missing fiscal targets due to recent ‘reform fatigue’

The EU Commission, as widely expected, on Wednesday conveyed its concern over a series of pre-election pledges by the current Tsipras government, warning of the negative impact they will have…

Beleaguered Tsipras govt now eyes amendment to abolish pre-legislated reduction in tax-free income threshold

The leftist Tsipras government appears intent, following an announcement by the prime minister himself on Tuesday evening, on tabling a draft amendment in Parliament ahead of the July 7 snap…

Stagnant consumer spending causes lower than expected Greek GDP growth in Q1 2019

By T. Tsiros  [email protected] A modest increase in GDP growth in the first quarter of 2019 is apparently dampening hopes by the government for an annual hike for the year…

Greek state arrears to private sector drop in April; tax rebates owed rise, however

The state’s arrears to the private sector decreased by 119 million euros in April 2019, although outstanding tax rebates during the same month increased by 283 million euros. According to…

Tuesday, 04 June 2019

Pre-election season heating up, as Greek govt announces hiring of 10.5K teachers over next two years

The government, with just slightly more than a month to go before snap elections, on Tuesday announced the hiring of 10,500 teachers for public schools in the country of roughly…

Tsipras govt revisits issue of German war reparations; diplomatic note submitted to foreign ministry in Berlin

Athens on Tuesday revisited the issue of German reparations to Greece, with the foreign ministry saying the country’s ambassador to Berlin delivered a diplomatic note to the corresponding ministry, requesting…

Greek GDP growth rate at 1.3%, on annual basis, in Q1 2019

Greece’s GDP growth rate increased at a rate of 1.3 percent, on an annualized basis, in the first quarter of 2019, and 0.2 percent on a 3-month basis. According to…

Monday, 03 June 2019

Μitsotakis calls on voters to provide him, ND with strong mandate in July 7 elex

Main opposition New Democracy (ND) Kyriakos Mitsotakis called voters to give his center-right party a “strong mandate” to form a government and to implement its program, just more than a…

Deadline extended for application to settle arrears to tax bureau, via 120 instalments

Another deadline extension, this one dealing with an application for inclusion in a 120-instalment plan to cover arrears to the tax bureau, was announced on Monday, with the due date…

IOBE: Consumer, business confidence slightly up in May; negligible impact of campaign bonus by Tsipras govt

A slightly improved economic climate was recorded in Greece last month, compared with April 2019, with relevant consumer and business confidence indexes, nevertheless, still moving at a lower rates than…

Ex-high court prosecutor: Novartis probe an orchestrated attempt to smear political rivals

Α front-page story over the weekend added yet another “twist” to the ongoing legal and political quagmire revolving around a seemingly never-ending judicial investigation into allegations of kickbacks by Novartis’…

Deadline for submitting tax returns in Greece extended to July 29; 2.2 mln already filed

Greek tax authorities have extended the deadline for submitting returns – for fiscal 2018 – with the pushed back date being July 29. The new deadline affects individual taxpayers and…