EconomyLoop
where regional business news becomes global to everyone

FinMin circular lowers GDP forecast for 2018 to 2.3% from 2.5%

A circular issued by Greece's finance ministry on Friday cites a 2.3-percent forecast for GDP growth in 2018, down from ... read more

 Naftemporiki47 days ago

     
Greece Facing Possible EU Yacht-Tax Probe

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 Greek Reporter47 days ago
Flexible employment forms continue to expand

The Greek labor market has presented a mixed picture over the last few months. While employment increased in February according to the Labor Ministry's Ergani database, the majority of new hirings are in part-time or shift work.... read more

 Ekathimerini47 days ago
ATHEX: Index swings to 1 pct gains for the week

The Athens bourse benchmark rose again on Friday, tipping the weekly balance from losses to gains, following two weeks on a downward slide.... read more

 Ekathimerini47 days ago
Gov’t cuts GDP growth estimate to 2.3 pct in 2018

The Finance Ministry has quietly revised its forecast for Greek economic growth in 2018, putting it at 2.3 percent against the budget estimate for 2.5 percent, also included in the latest compliance report by the European Commission.... read more

 Ekathimerini47 days ago
‘Quite a few’ Chinese suitors for PPC plants

Several Chinese firms have expressed interest in acquiring coal-fired plants Greece's power utility Public Power Corporation (PPC) will divest to comply with a European Union court ruling, the company's chief executive said on Thursday.... read more

 Ekathimerini47 days ago
Greek DM refers to Greek 'hostages' in Turkish prisons; opposition rails against Tsipras personally

Greek Defense Minister Panos Kammenos on Friday more-or-less broke his “radio silence” on the continued incarceration of two army servicemen, ... read more

 Naftemporiki47 days ago
Greek consumer price inflation at +0.4 pct in February

Greece's annual EU-harmonized inflation rate accelerated in February, statistics service ELSTAT data showed on Friday.... read more

 Ekathimerini47 days ago
Greek state to issue 12-month bond on March 14

A 12-month state bond will be issued on March 14, Greece's public debt management organization announced on Friday, confirming a ... read more

 Naftemporiki48 days ago
New 12-month T-bill to launch

Plans for a three-year state bond have been shelved for now, as conditions in the bonds markets remain uncertain, but the Finance Ministry is planning to issue a 12-month treasury bill next week.... read more

 Ekathimerini48 days ago
Greece to auction 625 mln euros of 12-month T-bills on March 14

Greece will sell 625 million euros ($769.06 million)of 12-month treasury bills on March 14, its debt agency PDMA said on Friday.... read more

 Ekathimerini48 days ago
Greece eyes 12-month bond issue, first after eight years

Greece's Public Debt Management Organization is expected to announce a 12-month bond issue, even within the day, roughly eight years ... read more

 Naftemporiki48 days ago
Israel expects decision on East Med gas pipeline to Europe in 2019

Israel expects a decision to go ahead with the construction of a 2,000 kilometer (1,243 mile) pipeline linking vast eastern Mediterranean gas resources to Europe to be made by early 2019, Israeli Energy Minister Yuval Steinitz told Reuters.... read more

 Ekathimerini48 days ago
Finance Ministry ponders bill on sale of encroached land

The Finance Ministry is drafting a plan for the sale of land which has been encroached on to the perpetrators, aiming to bolster state revenues for the 2018-19 period.... read more

 Ekathimerini48 days ago
Greek Shipyard Faces Liquidation

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 Greek Reporter48 days ago
No Discussion of Greek Debt Easing on Monday's Eurogroup

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 Greek Reporter48 days ago
German visitors will easily exceed 4 million this year

For Greek tourism, the German market is this year expected to fetch revenues of over 3 billion euros.... read more

 Ekathimerini48 days ago
Greek State Bond Yields See Fall

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 Greek Reporter48 days ago
Youth Unemployment Still Leads Greek Joblessness

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 Greek Reporter48 days ago
ATHEX: Stocks rise on low turnover

The absence of sellers during Thursday's bourse session at Athinon Avenue resulted in strong gains for the majority of stocks on particularly low trading volume.... read more

 Ekathimerini48 days ago
Amerra likely to net local fish farming enterprises

Greek fish farming is about to enter a new era as the winning bidder for the takeover of local companies Selonda and Nireus is set to be announced on Thursday or Friday.... read more

 Ekathimerini48 days ago
ECB lowers ceiling on ELA drawn by Greek banks

The European Central Bank lowered the ceiling on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 3.2 billion euros to 16.6 billion euros, the Bank of Greece said on Thursday.... read more

 Ekathimerini48 days ago
'N' con'f on private insurance held in Athens

The social security system in thrice-bailed out Greece should be viewed as a serious economic problem whose solution demands a ... read more

 Naftemporiki48 days ago
Greece plans 12-month T-bill issue soon, first since crisis, finmin source says

Greece is planning to issue a one-year treasury bill in the coming days, a finance ministry official told Reuters on Thursday, its first such issue in about eight years.... read more

 Ekathimerini48 days ago
18 foreign nationals arrested for string of attacks, muggings around Acropolis archaeological site

Police announced 18 arrests on Thursday related to a string of particularly violent armed robberies and muggings of tourists and ... read more

 Naftemporiki49 days ago
95 out of 332 e-auctions around Greece successfully completed on Wed.

A total of 95 electronic auctions, out of the 332 scheduled around Greece, were successfully completed on Wednesday, according to ... read more

 Naftemporiki49 days ago
Reports: Athens court approves appointment of special liquidator for Hellenic Shipyards

An Athens first instance court on Thursday approved the appointment of a special liquidator for the troubled Hellenic Shipyards Co. at Skaramangas, according to high-ranking sources at the finance ministry.... read more

 Naftemporiki49 days ago
Court ruling paves way for liquidation of Skaramangas shipyards

An Athens court has approved an appeal by the Greek state and Piraeus Bank to prepare the Skaramangas shipyards for liquidation.... read more

 Ekathimerini49 days ago
Debt relief to be included in looming talks between Athens, creditors to conclude 3rd bailout

Resumed negotiations between Athens and its institutional creditors, ahead of the fourth and last review of the current (third) bailout, ... read more

 Naftemporiki49 days ago
Greek unemployment drops to 20.8 percent in December, eurozone's highest

Greece's jobless rate eased to 20.8 percent in December from an upwardly revised 21 percent in the previous month, the country's statistics service ELSTAT said on Thursday.... read more

 Ekathimerini49 days ago
Greek military chief meets with US ambassador on Wed.

Greece's chief of the national defense general staff, Adm. Evangelos Apostolakis, on Wednesday received US ambassador to Greece Geoffrey Pyatt, ... read more

 Naftemporiki49 days ago
Mitsotakis promises emphasis on investments, speaking from Rhodes

Main opposition New Democracy (ND) president Kyriakos Mitsotakis promised a "return to normalcy" and an emphasis on attracting investments to ... read more

 Naftemporiki49 days ago
ATHEX: Muted trade points to lack of direction

Greek stocks saw another day of lackluster trade on Wednesday even though the vast majority of foreign markets registered gains.... read more

 Ekathimerini49 days ago
Athens city-breakers grow sixfold in 4 years

Athens is rapidly growing as a tourism destination in itself rather than simply a transit point for foreign tourists heading to the islands, according to figures revealed on Wednesday by Aegean Air and Athens International Airport at the ITB internat... read more

 Ekathimerini49 days ago
Takings from deposits lists fail to impress

The deposits of Greek enterprises and individuals on the various lists of suspected tax dodgers given to Greek authorities add up to more than 10 billion euros, yet the tax evasion identified amounted to just 919 million euros (including the fines im... read more

 Ekathimerini49 days ago
Greek property market halts its slide

The Greek property market showed the first signs of recovery in the last quarter of 2017, moving up the charts of countries surveyed by the Global Property Guide and Knight Frank.... read more

 Ekathimerini49 days ago
Turkish-flagged pleasure craft change designation in order to continue east Aegean mini cruises; Greek framework pending

A "Turkish wave" of professional pleasure craft is again expected to target the foremost holiday destinations in the eastern Aegean ... read more

 Naftemporiki49 days ago
Greek Police Clash with Protesters Over Home Auctions (video)

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 Greek Reporter49 days ago
Yield on Greek T-bills rises

Greece raised 1.3 billion euros in an auction of treasury bills on Wednesday, the Greek Public Debt Management Agency (PDMA) said.... read more

 Ekathimerini49 days ago
Turkish presidential adviser: Not 6th, not even 66th fleet will deter Turkey

Turkish saber-rattling continued unabated on Wednesday, with an aide to Turkish president Recep Tayyip Erdogan boasting that "not the sixth, ... read more

 Naftemporiki49 days ago
Banks start reporting 2017 results next week

Next week will see the country's systemic banks start to release their financial results for 2017, which will be of particular interest given that they will incorporate the additional provisions in the context of the new international financial repor... read more

 Ekathimerini49 days ago
Greece should have been granted debt relief in 2010, says Thomas Wieser

What is largely missing in Greece, in contrast to other bailed out European countries like Ireland and Spain, is a frank discussion on its own contribution to its economic predicament, former Eurogroup Working Group (EWG) president Thomas Weiser told... read more

 Ekathimerini49 days ago
Turkey PM: 2 Greek servicemen violated border, case before justice system

The first official reaction by a top Turkish government official vis-a-vis the still unresolved case of two Greek servicemen being ... read more

 Naftemporiki49 days ago
Greece could sell 51 pct stake in Hellenic Petroleum, sources say

Greece could sell up to a 51 percent stake in its biggest oil refiner Hellenic Petroleum to meet a key condition of its international bailout, government and union officials said.... read more

 Ekathimerini49 days ago
Greek carrier Aegean grew passenger traffic by 12 pct in Jan-Feb

Greece's largest carrier Aegean Airlines said on Wednesday it flew 12 percent more passengers in the first two months of this year compared to the same period in 2017, mostly on international routes where traffic grew by 15 percent.... read more

 Ekathimerini49 days ago
BoG sources angrily deny Internet claims of central banker's accounts being frozen

A close aide to Bank of Greece (BoG) Gov. Yannis Stournaras on Wednesday categorically denied a pair of online reports ... read more

 Naftemporiki50 days ago
Appellate council rules against extradition of Kurd arrested before Erdogan visit to Athens

A three-justice appellate council in Athens on Tuesday ruled against the extradition of one of nine Turkish citizens, identified as ... read more

 Naftemporiki50 days ago
Meet the Greeks in Forbes' List of Billionaires

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 Greek Reporter50 days ago
ESM’s Regling says reforms are Greece’s best insurance against risk

The head of the European Stability Mechanism (ESM), Klaus Regling, told Skai TV in an interview aired on Tuesday night that Greece can look forward to a "clean exit” from the bailout when it expires in August but needs to be aware of the risks ... read more

 Ekathimerini50 days ago
European business program aims to boost growth in Greece and beyond

The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) have launched a new advisory program to help small and mid-sized businesses in Greece, Bulgaria and Romania to grow and create jobs.... read more

 Ekathimerini50 days ago