EconomyLoop
where regional business news becomes global to everyone

‘Historic’ expo to strengthen Sino-Greek cooperation, minister says

The ongoing China International Import Expo (CIIE) is a "historic” event that will help elevate Greece-China cooperation to a new level, a Greek official has said.... read more

 Ekathimerini9 days ago

     
New European court verdict to upset public works tenders

A decision by the European Court of Justice banning companies convicted of cartel practices from undertaking state contracts for at least three years has dealt a major blow to the local public works market.... read more

 Ekathimerini9 days ago
Greek govt, Orthodox Church announce 'historic decision' on estate, clergy's salary, constitutional revision

Greek Prime Minister Alexis Tsipras and the head of the influential Autocephalous Church of Greece, Archbishop Ieronymos, on Tuesday announced a more-or-less unexpected agreement, which both men called "historic", to revise church-state relations in ... read more

 Naftemporiki10 days ago
Growth in supermarket sales continued to slow in September

Supermarkets sales have been running out of steam since June, confirming concerns that Greece's exit from the bailout program would not automatically mean a rise in demand, particularly since there has been no increase to disposable incomes.... read more

 Ekathimerini10 days ago
PPC to charge its customers one euro for each paper bill

Public Power Corporation has said that it will start charging its customers one euro for every paper bill it sends out to them every two months, encouraging them to register on its website for an electronic bill instead.... read more

 Ekathimerini10 days ago
Achtsioglou admits reform did not match CoS pension ruling

Labor Minister Effie Achtsioglou admitted on Tuesday that the government's ratification of the so-called Katrougalos law in 2016 was not in full compliance with a verdict from the Council of State deeming the 2012 pension cuts as being in violation o... read more

 Ekathimerini10 days ago
New Chinese ambassador visits Piraeus Chamber

The ambassador described Greece's biggest port as "the Head of the Dragon” and the "crown” of Greek-Chinese cooperation.... read more

 Ekathimerini10 days ago
ATHEX: Blue chips see main index bottom out in the afternoon

A handful of blue chips carried the benchmark at the Greek bourse higher on Tuesday, a defensive move that boosted stock prices from lows that dragged the main index down to near 610 points.... read more

 Ekathimerini10 days ago
Fiscal calculations on the Greek deficit

In previous Notes for Discussion, we have discussed a possible path for real GDP, the deflator as a measure of prices and inflation, and the path for nominal GDP.... read more

 Ekathimerini10 days ago
Greek Municipalities Sue Over Privatization of Archaeological Sites

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 Greek Reporter10 days ago
Cyprus: Unemployment Hits 9-Year Low

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 Greek Reporter10 days ago
Greek Wine Production Declines in 2018

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 Greek Reporter10 days ago
Greek tax bureau points to 14 'indications' of money laundering, including 'nervousness' on the part of a client

Greece's independent public revenues authority on Monday pointed to no less than 14 "indications", as it said, pointing to money ... read more

 Naftemporiki10 days ago
High court: Monasteries in Greece must pay tax on properties; places of worship, charitable uses excluded

Orthodox monasteries in Greece are obliged to pay property taxes (ENFIA) for properties they own, excluding ones used as places ... read more

 Naftemporiki10 days ago
Athens named 'European Capital of Innovation' for 2018

Athens was named as the "European Capital of Innovation 2018" on Tuesday during a special ceremony in Lisbon, Portugal, with ... read more

 Naftemporiki10 days ago
Worries for Greek gov’t and pensioners from court decisions

More than 19,000 applications are submitted every day demanding the payment of money lost as a result of pension cuts imposed in 2012 and 2015, ruled by judges as a violation of the Constitution.... read more

 Ekathimerini10 days ago
Piraeus Bank seeks to sell-off shipping-related 'bad debt' portfolio by end of year

Greek lender Piraeus Bank is reportedly accelerating the process to sell-off another portfolio of "bad debt", mostly loans extended to ... read more

 Naftemporiki10 days ago
Cyprus signs dairy product export protocol with China

A protocol for the export of Cypriot dairy products to China was signed on Tuesday between Cyprus's Minister of Agriculture, Rural Development and Environment Costas Kadis and Minister of the General Administration of Customs of China Ni Yuefeng.... read more

 Ekathimerini10 days ago
Mitsotakis calls for 'leaner' constitution; non-profit, non-state universities in Greece

Main opposition New Democracy (ND) leader Kyriakos Mitsotakis on Tuesday unveiled his center-right party's proposals for constitutional revision, a subject ... read more

 Naftemporiki10 days ago
Commission's econ forecasts deemed as crucial in deciding Athens' request to suspend pension cuts

A European Commission report this week on the course of member-states' economic performance is deemed as crucial in gauging the ... read more

 Naftemporiki10 days ago
EU to Decide How Greece's Primary Surplus Should be Used

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 Greek Reporter10 days ago
Greece one of 8 countries temporarily excluded from US ban on Iranian oil

Greece is one of eight countries that Washington will exempt from oil sanctions it slapped this week on Iran, with ... read more

 Naftemporiki10 days ago
Attorney: Body of ethnic Greek man killed in shootout with police in southern Albania to be released on Tues.

An attorney representing the family of a 35-year-old ethnic Greek man killed in a shootout with Albanian police last week ... read more

 Naftemporiki11 days ago
Google Celebrates Greek Computer Scientist who Predicted Internet's Dominance

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 Greek Reporter11 days ago
Kymi, PAOK join Reds and Greens in Cup semis

PAOK eliminated holder AEK and Kymi beat joint Basket League leader Peristeri to make the Greek Cup semifinals along with favorites Panathinaikos and Olympiakos.... read more

 Ekathimerini11 days ago
First locally owned, managed hydroelectric plant inaugurated in NW Greece

Greece's first locally owned and managed hydroelectric unit was inaugurated on Monday in the Velventos district in northwestern Kozani prefecture.... read more

 Naftemporiki11 days ago
Industries denounce new power hikes

The Hellenic Union of Industrial Consumers of Energy (UNICEN) denounced on Monday upcoming power rate increases, describing them as a plan to undermine Greece's industry and the economy's recovery effort.... read more

 Ekathimerini11 days ago
High court prosecutor order preliminary probe into claims contained in a suit by former FM Kotzias'

A supreme court prosecutor has ordered a preliminary investigation stemming from a "fictitious defendants" lawsuit filed by former foreign minister ... read more

 Naftemporiki11 days ago
Property price growth can help banks achieve NPE reduction targets

The key condition for banks to hit their targets for reducing nonperforming exposures is that property prices continue to climb, according to the National Bank's chief executive officer, Pavlos Mylonas.... read more

 Ekathimerini11 days ago
Market sees no point in Greek bond issue before next spring

The government should avoid tapping the money markets for at least another five months and aim at short-term paper rather than a benchmark issue, says Gianluca Ziglio, senior fixed income analyst at Continuum Economics.... read more

 Ekathimerini11 days ago
Bakoyannis announces candidacy for Athens municipality

The regional governor of central Greece (Sterea Ellada), Costas Bakoyannis, on Monday officially announced his candidacy for the city of ... read more

 Naftemporiki11 days ago
Creditors consider impact of acquiescing to Athens' request to suspend looming pension cuts measure

Greece’s creditors seem not particularly concerned over the prospect of the Tsipras government suspending a pre-legislated social security reduction that’s ... read more

 Naftemporiki11 days ago
TAP groundwork proceeding fast

Construction work on the Trans Adriatic Pipeline (TAP) across northern Greece has progressed considerably, Katerina Papalexandri, country manager for TAP AG, said, describing the oil pipeline "a project of major significance both for our country and ... read more

 Ekathimerini11 days ago
ATHEX: Stock losses contained at closing

Closing auctions on the Greek stock market helped minimize the rather sizable losses sustained by the benchmark at the start of the trading week on Monday.... read more

 Ekathimerini11 days ago
Greece to continue importing oil from Iran

Greece will continue to import oil from Iran after it was – along with seven other countries – granted a temporary exemption from the sanctions Washington re-imposed on the Islamic republic on Monday.... read more

 Ekathimerini11 days ago
Coalition-backing MPs on Parliament committee claim possible wrongdoing by political rivals, ex-health ministers

A majority of members on a Parliamentary committee of inquiry, as expected, on Monday attributed “political responsibility” to previous health ... read more

 Naftemporiki11 days ago
Land registry chief: Some 170K properties of 'unknown owner' will revert to state ownership

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 Naftemporiki11 days ago
Debate: Is Italy going the way of Greece in 2015?

Kathimerini English Edition presents the views of Daniel Gros, the director of the Center for European Policy Studies, and Megan Greene, global chief economist at Manulife/John Hancock Asset Management, on the similarities and differences between Gre... read more

 Ekathimerini11 days ago
Dep. social insurances minister: No issue of retroactive returns to all pensioners

A relevant deputy social insurances minister on Monday alluded to reasons of "public interest" in precluding the retroactive return of ... read more

 Naftemporiki11 days ago
Greece’s inability to tap markets due to a lack of credibility, analysts say

The government has blamed international market turmoil for its inability to issue bonds, but foreign analysts tell Kathimerini that the reasons are mostly made in Greece.... read more

 Ekathimerini11 days ago
Industrial users decry PPC intent to raise power rates, cut discounts

The Hellenic Union of Industrial Consumers of Energy (UNICEN), which represents Greece's power-intensive companies on energy-related issues and regulatory matters, ... read more

 Naftemporiki11 days ago
Five commercial air carriers based, operate in Greece; 485 aircraft on Greek registry

Twenty-one aviation companies, with a total of 485 aircraft, are based and operate in Greece, according to figures released by ... read more

 Naftemporiki11 days ago
Sources: Out-of-court settlement process for businesses expected to be extended

Extension of an out-of-court settlement framework for arrears owed by businesses, by six months or even a year, is considered ... read more

 Naftemporiki11 days ago
Mitsotakis confident ahead of next elex: Greece first EU country hit by populism, first to be rid of populists

Main opposition leader Kyriakos Mitsotakis on Sunday promised a major renewal of his center-right New Democracy (ND) party's candidate lists ... read more

 Naftemporiki12 days ago
More Erdogan saber-rattling: 'We will not leave seas to bandits'

The latest "tough talk" emanating from neighboring Turkey came from none other than powerful Turkish President Recep Tayyip Erdogan on ... read more

 Naftemporiki12 days ago
Traders wary of Motor Oil expansion

Investors appear wary of the expansion of listed group Motor Oil into the domain of the media.... read more

 Ekathimerini12 days ago
Piraeus Bank may securitize an NPL portfolio

The management of Piraeus Bank is examining the use of a model previously employed by Attica Bank for its capital boost through the securitization of its bad loans.... read more

 Ekathimerini12 days ago
Chinese investors increasingly interested in local real estate

Chinese investors are willing to sink the 250,000 euros into Greek real estate needed to acquire a visa even if they are not active in that market, a lawyer specializing in foreign investors in Greece tells Kathimerini, commenting on a recent spike i... read more

 Ekathimerini12 days ago
Agenda

MONDAY The Athens Investment Forum 2018 is held at the King George hotel, Syntagma Square, featuring leading government and corporate officials from Greece and abroad.... read more

 Ekathimerini12 days ago
Six Out of Ten Greeks 'Barely Cope': Survey

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 Greek Reporter12 days ago