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Wednesday, 04 October 2017

Culture ministry body: 28 out of 620 hectares of old Athens airport designated as having ‘archaeological interest’

A culture ministry-affiliated council has designated 28 hectares of the former Athens airport as an area of “archaeological interest”, out of a total expanse of 620 hectares. The closely watched…

Monday, 02 October 2017

Mitsotakis dismisses Dijsselbloem advise to hold off elections until 2019; ‘it’s an internal Greek matter’

Main opposition New Democracy (ND) leader Kyriakos Mitsotakis on Monday took exception to a recent quip by Eurogroup chairman Jeroen Dijsselbloem calling for elections in Greece to be held in…

Northern Greece exporters association attends bilateral business forum in Skopje

A stabilizing political situation in the former Yugoslav Republic of Macedonia (fYRoM) in tandem with the pending privatization of the Thessaloniki Port Authority loom as substantive factors for boosting bilateral…

Greek econ sentiment up in Sept.

Greek economic sentiment climbed to 100.6 points in September, up from 99 points in August 2017 and 98.2 points in July 2017, its highest point since December 2014 – the…

Draft budget eyes 3.57% primary budget surplus for 2018

A first copy of a draft budget for 2018 includes a forecast for a primary budget surplus in 2018 reaching 3.57 percent of GDP – up from a 3.53-percent forecast…

Reforestation decision for Helleniko overruled; two groups immediately file lawsuit to block ruling

Two environmental groups have filed a motion with the Council of State (CoS), Greece’s highest administrative court, in a bid to overrule a regional government decision quashing an earlier bureaucratic…

Juncker: Schaeuble stood up for Greek interests at crucial moment

Jean-Claude Juncker on Monday punched a hole in a widely held belief – especially in bailout-dependent Greece – that outgoing German Finance Minister Wolfgang Schaeuble was Athens’ standing antagonist in…

IMF-ECB compromise over Greek banks opens way for first sale of NPL portfolios by domestic lenders

By N. Malliara [email protected] Last week’s apparent compromise between the IMF and European Central Bank (ECB) over the scope and date for assessing Greek banks’ financial health is expected to…

Athens airport concession contract extended by 20 years

A 20-year lease extension for the Athens International Airport (AIA) was signed late last week between the consortium managing Greece’s biggest airport and the Greek state, a more-or-less expected development…

Listed companies post bullish results in in H1 2017 despite falling banking stocks

By G. Sakkas [email protected] First half 2017 results posted by listed companies on the Athens Stock Exchange (ASE) point to a return to higher profitability – up by 25.5 percent,…

Abducted businessman located, freed on Crete after six months of captivity

A businessman on the island of Crete was freed by police on Sunday after six months of captivity. The 53-year-old man, Mihalis Lebidakis, had been abducted on March 30 near…

Saturday, 30 September 2017

Grimaldi group top executive: We want HSW, otherwise minority stake should be bought off

By L. Karageorgos Grimaldi group managing director Emanuele Grimaldi said his company wants to acquire a controlling share of Hellenic Seaways (HSW) from Attica group, otherwise it wants the latter…

Greek FinMin says he doesn’t believe more austerity measures will be needed in 2018

Greek Finance Minister Euclid Tsakalotos ruled out new austerity measures in 2018, while repeating the embattled government’s pledge that the looming third review of ongoing bailout will conclude in a…

Alpha Bank: Tourism, small-scale manufacturing exports leading econ recovery in Greece

Alpha Bank’s weekly economic bulletin this week points to tourism and exports of small-scale manufacturing goods as the biggest positive factors in a budding Greek economic recovery, According to the…

Retail turnover up in July, yoy and compared to previous month

An increase of 1.6 percent was reported by Greece’s statistics authority (EL.STAT) in the retail turnover index for July 2017, compared with the same month in 2016. The volume of…

Athens Stock Exchange (ASE) gains 6.5 bln€ in capitalization since start of 2017

By I.  Zafolia [email protected]   A year-long rally at the Athens Stock Exchange (ASE) over the first nine months of 2017 has improved the bourse’s performance compared to the end of…

Fraport Geece downplays recent press report, says any contractual disputes do not threaten implementation

The concessionaire that now manages 14 regional airports around Greece – including the best-known tourism destinations – on Friday downplayed recent press reports pointing to a demand for a 70-million-euro…

Friday, 29 September 2017

Greek govt unveils controversial draft bill that would essentially outlaw taxi-seeking mobile apps

A Greek transport ministry draft bill long expected to tackle the “Uber” threat apparently aims to quash all apps bringing together customer and professional driver without the need of a…

Govt sources point to Tsipras visit to White House next month

Government sources in the Greek capital on Friday evening first referred to the prospect of US President Donald Trump receiving Greek Prime Minister Alexis Tsipras at the White house in…

Fraser Institute report: Greece drops 27 spots in economic freedom index

Bailout-dependent and recession-battered Greece apparently lost significant ground in 2015 in yet another global index , as the Fraser Institute report on economic freedom worldwide announced this week that the…

Thursday, 28 September 2017

BoG Gov. Stournaras: Greek economy recoverying, no room for complacency

Bank of Greece (BoG) Gov. Yannis Stournaras spoke at an event hosted by the British Hellenic Chamber of Commerce in Athens on Thursday evening, detailing what he called the challenges…

Spiegel: Fraport wants 70 mln€ rebate from Greek state for poor condition of 14 airports it recently took over

The consortium that recently assumed the management of 14 regional airports around Greece – including ones in the best-known tourism destinations – reportedly wants a 70-million-euro rebate from the Greek…

Ryanair scales back flights to/from Greece; part of overall cost-cutting

Ryanair continued to scale back its presence in Greece, despite the increasingly high tourism numbers being posted in the country over the past few years. The low-cost carrier will reportedly…

Commission: Five billion euros in VAT remittances not collected in Greece in 2015

Lost VAT remittances in Greece for 2015 reached five billion euros, according to a study by the Commission, which was published on Thursday. The figure, which translates into 28.3 percent…

‘N’: Lagarde to meet with Greek bank association chief in London on Thur.

IMF Managing Director Christine Lagarde is set to meet with Hellenic Bank Association president Nikos Karamouzis in London, according to sources that spoke with “N”. The main point of discussions,…

From here to Jamaika: Will the four German parties agree on a coalition agreement?

Βy Prof. Dr. Alexander Kritikos Research Director Entrepreneurship, DIW Berlin Professor at University of Potsdam Grand coalitions are obviously unfolding bad consequences to the two large German parties. This was so…

IMF’s Thomsen details compromise over ‘stress tests’, targeted AQR for Greek banks before bailout ends

Top IMF official Poul Thomsen, an “old hand” in no less than three Greek bailouts, on Thursday confirmed a looming compromise with European institutions over the Fund’s demands for a…

Mitsotakis to govt: Fire culture ministry gen-sec blocking Helleniko investment

Main opposition New Democracy (ND) leader Kyriakos Mitsotakis on Thursday demanded the firing of a relevant culture ministry general secretary, as a ministry-affiliated council tasked with reviewing a major real…

Wednesday, 27 September 2017

Qatari investment vehicle says wildfires have blocked its Zakynthos plans

The Greek subsidiary of Qatar’s sovereign fund, Al Rayyan, on Wednesday filed a lawsuit against “any party involved” in last month’s wildfires, which destroyed portions of the properties owned by…

PPC reports lower profitability, EBITDA in H1 2017

After-tax profits for the Public Power Corp. (PPC), the dominant electricity utility in the country, reached 14.4 million euros during the first half of the year, a decrease of 74.8…