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Monday, 01 April 2019

Timmermans in Athens: Time to end austerity for Greece, Europe

EU Commission first VP Frans Timmermans, the Party of European Socialists’ (PES) candidate for Commission, spoke in Athens on Sunday at a closely watched conference by the Kinima Allagis party,…

Sunday, 31 March 2019

Major haul of amphetamines at NW port of Igoumenitsa

A 31-year-old Bulgarian national was arrested at the extreme northwest port of Igoumenitsa over the weekend after Greek authorities discovered nearly 370,000 psycho-stimulant pills hidden in a large gas tank…

Saturday, 30 March 2019

Moderate quake, 5.2 on R scale, felt in greater Athens area

A moderate earthquake was felt in the greater Athens area at 12.46 p.m. (10.46 GMT), with the quake measuring 5.2 on the Richter scale. The epicenter was west of Athens,…

Friday, 29 March 2019

Mitsotakis from Thessaloniki: Veto of North Macedonia EU course if Greek interests not protected

Main opposition New Democracy (ND) president travelled to the northern city of Thessaloniki on Friday, kicking off a tour of northern Greece, where he promised local producers more protection for…

Alpha Bank after-tax profits of 53 mln€ in 2018

Alpha Bank reported after-tax profits of 53 million euros in 2018, up from 21.1 million in 2017. Just as importantly, the Athens-based systemic lender said its goal is to reduce…

Prosecutors abruptly recommend charges in reopened party loans case; focus on opposition

Scores of current and retired bank executives in Greece, as well as former party treasurers for main opposition New Democracy and PASOK parties, face various felony and misdemeanor charges, after…

Tsipras in Bucharest for Bulgaria-Greece-Romania-Serbia summit

Greek Prime Minister Alexis Tsipras on Friday referred to a “model of cooperation” for the wider SE Europe region in referring to the recently implemented Prespa agreement, in statements in…

Bill for protection of primary residences passes by a wide margin in Parliament

A draft bill reinstituting a legal framework for the protection of primary residences in Greece – from creditors – was passed by a wide margin in Parliament on Friday afternoon,…

Mitsotakis: May 26 Europarliament elections a referendum for Tsipras gov’t

Main opposition New Democracy (ND) party leader Kyriakos Mitsotakis on Friday continued to play up the notion that the upcoming May 26 European Parliament elections in the country serve as…

Opening of Four Seasons Astir Palace marks return of iconic Vouliagmeni resort on int’l tourism map

By L. Karageorgos [email protected] The renowned Four Seasons brand officially debuts in Greece this week with the Four Seasons Astir Palace Hotel Athens at Vouliagmeni promontory in coastal southeast Athens,…

Northern Greece business world divided over Tsipras visit, trade mission to North Macedonia

V. Vegiri [email protected] The business community in northern Greece appeared divided this week over an upcoming visit to neighboring and recently renamed North Macedonia by Greek Prime Minister Alexis Tsipras,…

NBG group returns to profitability in 2018; reduced NPLs by 11.5 bln€ by 2021

National Bank group reported after-tax profits of 50 million euros in 2018, after posting 158 million euros in losses in 2017. Operational profits reached 71 million euros in Greece, from…

Thursday, 28 March 2019

Tax bureau: 2 out of 3 businesses in Greece in 2017 reported zero profits; losses total 47 bln€

Two out of three companies and other legal entities in Greece declared no profits to the tax bureau for 2017, statistics released recently by the Independent Public Assets Authority revealed.…

Light quake shakes Patras region in SW Greece

A light earthquake measuring 3.9 on the Richter scale shook southwest Greece, and was particularly felt in the greater Patras region. The quake was recorded at 11.15 a.m. (09.15 GMT),…

Court rules in favor of PPC in legal battle over arrears owed by Halyvourgiki steel mill

An Athens first instance court on Wednesday rejected a motion by the Halyvourgiki company, which owns and operated Greece’s biggest and oldest steel mill, to overturn an injunction against it…

Titan cement results for 2018

The Titan cement group on Wednesday released 2018 results showing 119 million euros in new investments, including an increase in its share in the Turkish consortium Adocim, leaving the former…

Greek DM refers to ‘concern’ over ‘incident’ in Aegean

Greek Defense Minister Evangelos Apostolakis on Wednesday referred to “concerns” over the prospect of an “incident” in the Aegean involving the militaries of Greece and Turkey. Speaking from New York…

Wednesday, 27 March 2019

Anti-smoking loopholes shot down by high court; new ministerial decision re-issues exclusions

Greece’s Council of State (CoS), the country’s highest administrative court, this week shot down a ministerial decision, dating to 2011, which essentially watered down a strict anti-smoking law that even…

6.9% point-lead for ND over SYRIZA in latest poll

Main opposition New Democracy (ND) party fields a 6.9-percentage point lead over ruling SYRIZA in the latest opinion poll released on Wednesday evening. The results were shown on the Athens-based…

OPAP’s board proposes 0.70-euro dividend on back of record GGR performance in Q4 2018

The ATHEX-listed Greek Organisation of Football Prognostics’ S.A. (OPAP) board on Wednesday proposed a dividend of 0.70-euros per share, with the proposal to be forwarded to a general assembly of…

Dragasakis: gov’t not opposed to reward for responsible borrowers; may not make it into current draft bill

A top government minister on Wednesday, during debate at a relevant Parliament committee, expressed qualified support towards legislating a law to benefit responsible borrowers, especially those paying off mortgages in…

Air Canada announces weekly flights between Athens-Toronto, Athens-Montreal over summer 2019

Air Canada will expand its presence in Athens this coming summer with the addition of two weekly flights linking the Greek capital to Toronto and two weekly flights to Montreal,…

Govt Dep. PM Dragasakis: Primary home protection law a ‘compromise’ with creditors; ‘strategic defaulters’ in Greece at 25%

Greek Deputy PM and Economy Minister Yannis Dragasakis referred to this week’s draft amendment unveiling a successor law for a recently expired legal framework to protect primary residences as the…

Reports: Hellenic Sugar Industry to file for bankruptcy protection by Fri.

Debt-plagued Hellenic Sugar Industry S.A. is expected to file for bankruptcy protection (Article 106B and 106d) by Friday, as part of a major restructuring plan proposed by its primary creditor,…

Piraeus Bank’s Handjinicolaou elected as new president of Hellenic Bank Association

Members of the Hellenic Bank Association’s (HBA) board of directors on Tuesday unanimously elected George Handjinicolaou, the president of Athens-based Piraeus Bank, as its new president. New vice-presidents for HBA,…

Athens hands Turkish envoy strict demarche over harassment of helicopter carrying Greek PM

Greece’s foreign ministry on Tuesday presented Turkey’s ambassador to the country with a demarche protesting the harassment of a helicopter carrying Greek Prime Minister Alexis Tsipras to an eastern Aegean…

Greek govt tables draft law for successor framework on primary residence protection from creditors

The Tsipras government on Tuesday evening finally tabled a draft bill containing the legal framework for protection of primary residences (from creditors) in the country, a post-bailout “prior action” whose…

ABB selected for power, propulsion systems for China’s first domestically built cruise ship

ABB will supply a comprehensive power and propulsion package for China’s first domestically built cruise ship, in a landmark deal with Shanghai Waigaoqiao Shipbuilding (SWS). The Azipod steerable propulsion systems,…

Lavrio-Cesme ferry boat route to begin on June 1

A daily ferry boat route connecting the small port of Lavrio, in the extreme southeast Athens area, with the western Turkish port of Cesme will begin on June 2. The…

Tuesday, 26 March 2019

FinMin, govt sources quickly dismiss prospect of ‘Easter bonus’ for Greek pensioners, civil servants

Greek Finance Minister Euclid Tsakalotos immediately extinguished speculation of yet another “holiday benefit” being doled out by the poll-trailing Tsipras government, speaking hours after a deputy minister referred to an…