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Wednesday, 02 November 2016

2 children suffer burns after fire at refugee shelter in northern Greece

An eight-year-old boy and his nine-year-old sister suffered burns during an early-morning fire that erupted in a tent at a temporary refugee shelter in the Oreokastro township near Thessaloniki, northern…

Tuesday, 01 November 2016

Eurobank president: Greek credit expansion will come after economic recovery, not before

Eurobank President Nikos Karamouzis on Monday underlined that a positive credit expansion in recession-battered Greece, something he said is imperative for growth, will not precede but will follow an economic…

Eight new companies earn Stelios Foundation awards for 2016

Eight new Greek companies were awarded monetary sums this week by the Stelios Philanthropic Foundation, set up by easyJet founder Stelios Haji-Ioannou. This Awards for Young Entrepreneurs were announced  during…

New president of Piraeus Bank announced

The board of directors of Piraeus Bank, one of four Greek systemic banks, appointed George Hatzinikolaou to the post of non-executive president on Tuesday afternoon. Hatzinikolaou has previously worked for…

Work-related accidents, fatalities increased in 2014, over previous year

A noteworthy increase in the number of work-related accidents was recorded in Greece in 2014, up by 12.5 percent, yoy — the last year for which figures are available. According…

Dijsselbloem letter ahead of Eurogroup meeting apparently reopens Greek social security reform chapter

The politically charged issue of social security reform in Greece is apparently returning to the agenda of negotiations between the leftist Greek government and institutional creditors, a particularly painful development…

ND ahead of SYRIZA by 24 percentage points in latest poll

The latest opinion poll, published this week, shows the biggest difference between ruling SYRIZA party and its main rival, center-right New Democracy, with the latter fielding a 24-percentage point lead…

Seven funds reportedly bid for Attica Bank 1-bln€ NPL portfolio

Seven foreign distress funds have reportedly expressed an interest in assuming the management of an Attica Bank portfolio of non-performing (NPLs) totalling one billion euros. The same reports cited a…

Labor unions’ research institute: ‘Rapid’ return to markets entails ‘high risks’

The research institute affiliated with Greece’s largest trade umbrella union, GSEE, on Tuesday referred to «high risks» entailed in any «quick» economic recovery and a return to international lending markets…

Govt trio convenes on issue of benefits, bonuses WB recommends for elimination

A trio of top Cabinet ministers was meeting on Tuesday to examine the issue of more than a dozen mostly non-essential bonuses and welfare stipends allocated by the state, benefits…

Greek tourism sector continues to focus on less tourism revenues for 2016, despite higher arrivals

Greece’s association of tourism enterprises was the latest group this week to broach the question of how tourism-related revenue appears to have fallen in 2016 when arrivals reached near record-breaking…

Arrears to Greece’s social security funds nears 17 bln€

Arrears to Greece’s beleaguered social security funds continue to accumulate at an accelerated pace, with a relevant state collection agency for pension contributions announcing this week that the figure is…

Huge Opportunities for Greece’s Farmers in New Markets

Next week a representative from the Greece-based frozen vegetable producer Barba Stathis as well as dairy and juices producer Delta Foods, both part of the Vivartia Group, will travel to…

Retail sector implodes in August; concerns over H2 2016 GDP

The retail sector’s turnover fell in August 2016, Greece’s statistical bureau (EL.STAT) announced on Monday, confirming the downward trend throughout the year. Turnover, both in terms of volume and value,…

Monday, 31 October 2016

Greek Parliament’s Budget Office dampens optimism over GDP growth in 2017

Parliament’s Budget Office fired another salvo over the leftist government’s bow on Monday, expressing a more-or-less pessimistic forecast over Greek economic growth prospects for 2017, while at the same time…

Reuters: Socar renews letter of guarantee for Greek natgas grid operator for 1 month

Reuters reported on Monday afternoon that Azerbaijan’s state energy company Socar has renewed its letter of guarantee for Greece’s natural gas grid operator (DESFA) by one month. The news agency…

Noted economist to “N”: Greek state must stop producing debt

By Vassilis Kostoulas [email protected] A noted Greek economist and author told “N” this week that Greece’s striking fiscal adjustment over the last few years of an ongoing economic crisis is “not…

PepsiCo closes last production unit in Greece

PepsiCo-HBH is the latest multinational to cease production operations in Greece, as a company announcement on Monday claimed that the closure of its last remaining unit aims to ensure the…

Latest political furor swirls over Greek minister’s 2014 Venezuela visit for ‘super market products’

Political sniping between the leftist government and center-right main opposition continued unabated on Monday, with the latter pointing to a previously unknown trip by embattled Minister of State Nikos Pappas…

Govt provisions same figure, 2.65 bln€, in 2017 draft budget from property tax

By G. Kouros The Greek government has provisioned 2.65 billion euros in revenue in its draft 2017 budget from property tax (ENFIA) proceeds, meaning that the system for tax rates…

Main opposition intensifies demand for snap election

Main opposition New Democracy (ND) party leader Kyriakos Mitsotakis on Monday called the current situation in Greece “extremely critical” and again reiterated his demand for snap elections in the still…

Govt appears to insist on Polydoras candidacy for head of broadcasting authority

The leftist Greek government will reportedly proceed as planned with its nomination for an independent broadcasting authority, even in the face the opposition’s immediate rejection of the candidate, former New…

Binding offer submitted by Greek-Indian consortium for new Crete airport

A glimmer of progress has apparently emerged in a long-delayed and oft-proposed project to build a new airport in Crete’s Irakleio prefecture, one of the prime tourism destinations in the…

Wind Hellas signs 250-mln€ bond loan

Wind Hellas, one of the three mobile telephony operators in Greece, boosted liquidity over the recent period with a five-year bonded loan worth 250 million euros, while shareholder have agreed…

Sunday, 30 October 2016

Opposition rejection of govt candidate for broadcast authority turns bitter

The fallout from a surprise offer by the leftist SYRIZA government to nominate a one-time New Democracy minister for the post of president of the country’s independent broadcast authority continued…

Saturday, 29 October 2016

Govt announces surprise candidate, a veteran conservative, for broadcast watchdog authority

Former interim Parliament president and long-time conservative political cadre Vyron Polydoras is the leftist government’s surprise choice for president of a national radio-television council that oversees – under the constitution…

Regling: ‘Road map’ for Greek debt relief exists; bailout targets must be met

European Stability Mechanism (ESM) managing director Klaus Regling referred to a “road map” for Greek debt relief, pointing to the communique issued after a landmark Eurogroup meeting in May 2016,…

Friday, 28 October 2016

Biden attends ‘OXI’ Day event in DC; says Obama will touch on debt issue during Athens visit

US Vice-President Joe Biden was quoted by the Cyprus News Agency on Thursday as saying that Barack Obama will touch on the increasing thorny issue of the Greek debt, during…

Thursday, 27 October 2016

Athens Hilton sold to Turkish-Greek consortium

D-Marine Investments Holding BV, a subsidiary of Dogus Holding AS, and Temes SA, a development arm of the Costa Navarino resort of southwest Greece, are the new owners of the…

Producers’ composite index falls in Sept, yoy

The Greek producers’ composite price index in the industrial sector (measuring both the domestic and external markets) fell 3.0 percent in September this year compared with the same period in…