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Friday, 01 June 2018

Posidonia 2018 maritime exhibition eyes record-breaking numbers

By L. Karageorgos [email protected] A total of 1,920 exhibitors from 92 countries will showcase products and services at this year’s Posidonia maritime exhibition, its semicentennial anniversary, billed as the world’s…

ESM’s Strauch to ‘N’: ‘Clean exit’, with asterisks; debt relief, only if needed

By Vassilis Kostoulas [email protected] Countries exiting a bailout program are vulnerable to external events, and Greece should protect itself by sending a clear message that it will continue with agreed-to…

Thursday, 31 May 2018

Hellenic Fiscal Council: Several serious risks imperil economic forecasts

A report by the Hellenic Fiscal Council (HFisc), an independent administrative authority established in 2014 under the second memorandum, on Thursday referred to significant risks that jeopardize the Greek economy’s…

Alpha Bank net profits at 65.2 mln€ in Q1 2018

Greek systemic lender Alpha Bank’s net profits increased by 1.34 percent in the first quarter of 2018, reaching 65.2 million euros. The same figure for the first quarter of 2017…

Greece’s Cap Market Commission takes legal action against Folli Follie

The market watchdog in Greece, the Hellenic Capital Market Commission, on Thursday announced that it was filing a lawsuit again Folli Follie group after the listed company failed to provide…

Ecumenical Patriarchate receives request from Orthodox Church in fYRoM to revert to historic Ohrid Archbishopric name

The Ecumenical Patriarchate, the primus inter pares of the world’s Eastern Orthodox churches, this week announced that it had received a request by the “schismatic” Orthodox Church in the former…

Sources point to Greek govt optimism over ‘name issue’ resolution

By G. Kampourakis [email protected] Government sources were optimistic in their assessment that an agreement between Athens and Skopje to finally resolve the obscure – by international standards – but nagging…

Privatization agency: Five expressions of interest for majority stake in Hellenic Petroleum

Five expressions of interest for the purchase of a majority package of the Hellenic Petroleum (Hel.pe) group were submitted by a deadline on Wedneday. Greece’s privatization agency, HRADF, and Paneuropean…

Reuters: No agreement by Monday means IMF will probably not participate in Greek program

European creditors and the IMF are seeking a last-minute agreement over the Greek debt, although the Fund’s participation as a creditor in the Greek program appears unlikely if there is…

Tuesday, 29 May 2018

Arrears to social security sector reach nearly 32 bln€; jobless benefit still exceeds part-time pay in many cases

By S. Papapetros [email protected] Arrears owed to Greece’s social security sector have reached nearly 32 billion euros over the first trimester of 2018, an increase by 584 million euros compared…

EBRD announces largest equity participation in tourism sector with 25%-stake in marina holding company

The European Bank for Reconstruction and Development (EBRD) on Tuesday announced what it called its  largest equity investment in the tourism sector to date by signing agreement that render it…

Greek FM: fYRoM ‘name solution’ in Athens’ best interests; FMs have concluded talks

Greek Foreign Minister Nikos Kotzias added another parameter to the ongoing, and by all accounts, intensified negotiations towards finding a solution to the nagging “name issue” still separating Athens and…

‘Prior actions’ bill to be tabled in Parliament in order to meet June 21 Eurogroup meeting deadline

All of the remaining “prior actions” demanded by creditors in order to conclude the fourth and last review of the current bailout – which itself ends on Aug. 20 –…

Hellenic Investors’ Association warns of lawsuits on behalf of Folli Follie Group shareholders

The Hellenic Investors’ Association on Monday warned that it will file lawsuits on behalf of shareholders and bondholders of the Folli Follie Group (FFG), a jewelry and accessory maker listed…

Urgent maintenance, upgrades at Thessaloniki Port Authority worth 27.8 mln€

By V. Vegiri [email protected] An urgent investment program worth 27.8 million euros at Thessaloniki Port Authority in the implementation phase, the newly privatized port’s management of the announced last week.…

Lending towards Greek shipping sector drops by 5.6% percent in 2017, yoy

By L. Karageorgos [email protected] Bank lending towards the Greek shipping sector shrank by 5.6 percent in 2017, after an 8.77 percent drop in 2016 compared to 2015, according to annual…

Monday, 28 May 2018

Germany’s Sigmar Gabriel the keynote speaker at Tuesday’s SEV general assembly

Former German vice-chancellor and foreign minister Sigmar Gabriel on Tuesday will be the keynote speaker at the general assembly of  the Hellenic Federation of Enterprises (SEV), Greece’s largest employers’ and…

Eurostat: 6% of Greek citizens (ages 20 to 64) live in other EU member-states

Roughly six percent of Greek citizens, between the ages of 20 and 64, lived in other EU member-states in 2017, according to figures released on Monday by Eurostat. The same…

40 people arrested at Iraklio airport last week alone trying to exit country with forged IDs

Greek authorities on Monday announced that 40 foreign nationals were arrested at Iraklio (Heraklio) airport on Crete between May 21 and May 27, 2018 on charges of possession and use…

Tax inspectors target holiday isles, packaging units

Tax inspectors in Greece continued to target top tourist destinations, among others, as the former are traditional “havens” for tax evasion in the still bailout-dependent country. In a sample of…

Mitsotakis again promises to cut taxes if elected; says SYRIZA govt implementing 4th memorandum

Main opposition New Democracy (ND) party leader Kyriakos Mitsotakis remained “on message” over the weekend, saying that if elected he and his center-right party will lower taxes in the recession-battered…

Dimitrov: ‘Name issue’ solution possible by June 28 EU summit

The foreign minister of the former Yugoslav Republic of Macedonia (fYRoM), Nikola Dimitrov, on Monday estimated that negotiations to finally solve the “name issue” still plaguing relations between Athens and…

Friday, 25 May 2018

Employers’ group responds to govt post-bailout growth plan with proposals for tax cuts, market liberalization, less red tape

The Hellenic Federation of Enterprises (SEV), Greece’s largest employers’ and industrialists’ group, on Thursday evening responded to the Greek coalition government’s recently unveiled “holistic strategic growth plan” with four proposals.…

Athens reports higher tax revenues, primary budget surplus in Jan-Apr 2018 period

Greece’s finance ministry said tax revenues reached 13.088 billion euros over the first four-month period of the year, exceeding a budget target by 297 million euros. The closely watched primary…

Handelsblatt: Decades of creditors’ supervision of Greek finances ahead

German media focused directly on the publication of a 40-page “supplemental MoU” on the Greek program, unveiled by the Commission on Thursday, with Handelsblatt noting that Greece will remain under…

Jiménez ends tenure with AEK Athens

AEK Athens FC on Friday announced that it was parting ways with Spanish coach Manuel ‘Manolo’ Jiménez, who led the popular Greel football team to its first championship in 24…

Tsipras refers to ‘murder attempt’ against Thessaloniki mayor; comments on fYRoM ‘name talks’, early elex

Greek Prime Minister Alexis Tsipras travelled to the northern port city of Thessaloniki on Friday for a meeting with the city’s mayor, Yannis Boutaris, days after the latter was kicked…

ASE suspends trading of Folli Follie shares

The Athens Stock Exchange (ASE) on Friday announced a suspension of trading of Folli Follie shares, following a relevant request by the Capital Markets Commission, and earlier, by the jewelry…

Union of Greek Shipowners: Greek interests control 20% of global maritime transport

By A. Tsimplakis [email protected] Some 20 percent of the global maritime trade is controlled by Greek shipowners and shipping companies, a noteworthy figure, given that only some 0.15 of the…

Thursday, 24 May 2018

High court OKs building permit for new shopping mall, entertainment complex in SW Athens

The Council of State, the highest administrative court in Greece, on Thursday approved of a major property development plan in gritty part of southwest Athens, opening the way for the…