EconomyLoop
where regional business news becomes global to everyone

EFKA receives front-loaded state dues

The government has offered indirect financing to the Single Social Security Entity (EFKA) in the first four months of its operation so that the fund can cover its obligations.... read more

 Ekathimerini14 minutes ago

     
Greek PM blames 'harsh winter' for recent higher power bills

Greek Prime Minister Alexis Tsipras blamed a "harsh winter" in the Greece over the 2016-2017 period for causing a rise ... read more

 Naftemporiki21 minutes ago
Study shows sluggish growth in hotel beds despite rise in arrivals

Investment in new hotels in Greece has suffered considerably in the last few years, according to a survey by the Institute for Tourism Research and Forecasts (ITEP).... read more

 Ekathimerini21 minutes ago
Tax hikes have failed to pay off

The recent hikes in indirect taxes have not fetched the desired results, leading instead to a 247-million-euro shortfall in state revenues, according to figures issued on Wednesday by the State General Accounting Office.... read more

 Ekathimerini28 minutes ago
National, Piraeus hit by review uncertainty in Q1

Uncertainty over the Greek bailout review took its toll on Piraeus Bank and National Bank of Greece (NBG) in the first quarter as the country's two biggest lenders focused their efforts on cutting bad debts.... read more

 Ekathimerini35 minutes ago
ATHEX: Bank stocks tumble on creditor plans

The plans of Greece's creditors about retaining the International Monetary Fund as an observer but not a contributor of funds to the Greek bailout program, as reported in the press, sent Greek stocks tumbling on Wednesday.... read more

 Ekathimerini1 hour ago
Greek budget posts 1.726 bln€ primary surplus over Jan-Apr period

Greece's state budget posted a primary surplus of 1.726 billion euros over the January-April 2017 period, down from a corresponding ... read more

 Naftemporiki1 hour ago
Hellenic Petroleum general assembly postponed after Latsis group request

A previously scheduled annual general assembly of shareholders of Hellenic Petroleum (Hel.Pe), the country biggest petro-chemical conglomerate, was postponed on ... read more

 Naftemporiki2 hours ago
Reuters: ESM paper says Greek debt relief unnecessary if high fiscal targets maintained for 2 decades

Reuters on Wednesday quoted a "confidential paper" prepared by European Stability Mechanism (ESM) as advising that bailout-dependent Greece will not ... read more

 Naftemporiki3 hours ago
Greek PM says he rejected Schaeuble debt offer; eyes market borrowing after bailout ends in 2018

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 Naftemporiki6 hours ago
Big stock investors establish Greek foothold in patient bet

Big money managers have started buying cheap Greek stocks from banks to lotteries as clouds over talks between Athens and its international creditors gradually clear, anticipating big returns.... read more

 Ekathimerini6 hours ago
Greek Public Revenue Authority Reinforces Staff in Tourist Areas

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 Greek Reporter8 hours ago
Greece to sign three contracts for hydrocarbon extraction, PM says

The Greek government will on Thursday sign three contracts for hydrocarbon extraction, Prime Minister Alexis Tsipras has said without giving more details.... read more

 Ekathimerini8 hours ago
Greek govt scrambles to find 'Plan B' in the wake of latest failed Eurogroup meeting

The Tsipras government appeared surprised and unable to intervene in the contentious negotiations between Berlin and the IMF over the ... read more

 Naftemporiki9 hours ago
Chinese Online Travel Platform 'alitrip.com' to be Presented to Greek Tourism Sector on May 26

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 Greek Reporter9 hours ago
Greek Merchant Fleet Bigger by 90 Million Tons in 7 Years

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 Greek Reporter9 hours ago
IMF-Germany Closer to Agreement on Greek Debt Issue

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 Greek Reporter9 hours ago
Latest pension, benefits cuts to affect millions of Greek households

The number of Greek pensioners and beneficiaries to be affected by the latest round of austerity cuts and higher social ... read more

 Naftemporiki10 hours ago
QE remains a long shot for Greece

Greece is nowhere near a swift inclusion in the European Central Bank's quantitative easing (QE) program, according to senior officials at domestic banks.... read more

 Ekathimerini10 hours ago
Just a fraction of debts to state may be paid

No more than an eighth of the sum of the expired debts to tax authorities can be collected, as the Independent Authority for Public Revenue considers just 11.4 billion of the 92 billion euros of taxpayers' arrears to be collectible, with the greatest... read more

 Ekathimerini12 hours ago
Greeks add 90 million tons to fleet in 7 years

The soaring of the Greek-owned merchant fleet's numbers since 2010 confirms that the nation is consolidating its position at the top of the global shipping industry.... read more

 EkathimeriniYesterday
Gov’t ready to engage in cruise port upgrading partnerships

The 4th Posidonia Sea Tourism Forum opened on Tuesday in Athens with Shipping Minister Panayiotis Kouroublis announcing that the government is preparing to invite international cruise companies visiting Greece to invest in port infrastructure project... read more

 EkathimeriniYesterday
Cosco’s ambitious plans for Piraeus Port

Piraeus Port Authority (OLP) is not only planning to create four new mooring slots for cruise ships at the southern side of the port that will be able to receive vessels of up to 390 meters in length, but in the medium term it is also preparing the c... read more

 EkathimeriniYesterday
Hydrocarbon Exploration; Energy Giants to Bid for Greek Maritime Area

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 Greek ReporterYesterday
'Schaeuble Continues to Be a Problem for Europe' S&D Group Head Pittella Says

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 Greek ReporterYesterday
Aegean Air sees losses grow

Greece's largest carrier Aegean Airlines posted a net loss of 35.8 million euros for the first quarter on Tuesday, up from 21.5 million euros in the same period a year ago.... read more

 EkathimeriniYesterday
PPC gets shareholder approval for grid spin-off

Greece's main power utility Public Power Corporation secured shareholders' approval on Tuesday to sell part of its grid operator to the state, a final step in concluding the spin-off of the grid next month.... read more

 EkathimeriniYesterday
ATHEX: Bourse index succumbs to pressure

It was down, then up and then back down again for the benchmark of the Greek bourse on Tuesday, as the inconclusive Eurogroup on Monday night and the terrorist attack in Manchester took their toll on the Greek market.... read more

 EkathimeriniYesterday
Short-term debt relief already paying off for Greece

Short-term debt relief measures implemented last January by the European Stability Mechanism (ESM) have already generated beneficial effects for Greece's ... read more

 NaftemporikiYesterday
IMF needs more realism in eurozone assumptions on Greece

The International Monetary Fund needs to see more realistic eurozone assumptions about Greece's economy and more detail on planned debt relief measures to join a bailout, IMF's European Department head Poul Thomsen said.... read more

 EkathimeriniYesterday
Schaeuble expresses optimism over Greek bailout deal in June

Powerful German FinMin Wolfgang Schaeuble on Tuesday appeared uncharacteristically optimistic over the prospects of a conclusive agreement for the Greek ... read more

 NaftemporikiYesterday
Tzanakopoulos says Greece can get 'clear' deal at June Eurogroup

Government spokesman Dimitris Tzanakopoulos indicated that a proposal made to Greek officials at Monday's Eurogroup in Brussels was vague and could have ended up putting off debt relief indefinitely, adding that he was confident Greece would get a be... read more

 EkathimeriniYesterday
Greek stocks slide, yields spike after hopes for debt deal dashed

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 EkathimeriniYesterday
German Finance Minister sees deal for Greece in three weeks 'if all goes well'

Germany's Finance Minister Wolfgang Schaeuble expressed some confidence on Tuesday that Greece's international creditors would overcome their differences and agree in three weeks on a deal that would release more loans to Athens.... read more

 EkathimeriniYesterday
EU Commission: We Call on All Sides to Honor Greece's Efforts

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 Greek ReporterYesterday
PPC shareholders OK sale of 25% stake in grid operator; precursor to latter's privatization

A general assembly of Public Power Corp. (PPC) shareholders this week approved the sale of a 25-percent stake of the ... read more

 NaftemporikiYesterday
Govt spox indirectly points to Germany as preventing Eurogroup deal for Greece

A Greek government spokesman on Tuesday indirectly blamed the German side for the failure, a day earlier, to achieve an ... read more

 NaftemporikiYesterday
Private sector interest mostly focuses on Alexandroupolis, Elefsina ports; profits up in 2016

The extreme northeastern port of Alexandroupolis, near the land border with Turkey, and the small port of Elefsina, due west ... read more

 NaftemporikiYesterday
Short-dated Greek Bond Yields Rise after Failure to Reach Debt Relief Deal

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 Greek ReporterYesterday
IMF's Thomsen: We Need More Realism in Assumptions and More Specificity About Greece's Economy

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 Greek ReporterYesterday
Tsakalotos: Overall Deal on Greece's Loan Tranche, Debt Feasible Within Three Weeks

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 Greek ReporterYesterday
Aegean reports 35.8 mln€ in losses for Q1 2017

Greece-based carrier Aegean Airlines on Tuesday reported net losses of 35.8 million euros in the first quarter of 2017, up ... read more

 NaftemporikiYesterday
IMF's Thomsen: Realistic fiscal assumptions, specificity necessary for Greek program

IMF European department chief Poul Thomsen said the Fund wants Greece's Euro zone creditors to employ more realistic assumptions about ... read more

 NaftemporikiYesterday
Tsakalotos says overall deal can be reached in three weeks

Finance Minister Euclid Tsakalotos told reporters on Tuesday that he believed an overall agreement on Greece - that will release bailout funding and detail debt relief measures - could be reached within the next three weeks.... read more

 EkathimeriniYesterday
IMF's Thomsen praises progress, says more work to do

After representatives of Greece's international creditors failed to hammer out a deal on bailout funding and debt relief in Brussels, Poul Thomsen of the International Monetary Fund told reporters on Monday that measures legislated by the Greek parli... read more

 EkathimeriniYesterday
Sports Digest: Green hoopsters thrash AEK

Panathinaikos has advanced to the finals of the Basket League after thrashing AEK 105-67 away on Monday to clinch the best-of-five semifinal series 3-1.... read more

 EkathimeriniYesterday
Primary budget surplus targets, debt relief cited as obstacles to agreement over Greek program

"Close, but no cigar" is the phrase that more-or-less sums up Eurogroup chairman Jeroen Dijsselbloem's statements immediately after the end ... read more

 NaftemporikiYesterday
T-bills regain confidence of foreign banks as collateral

After a long time Greek treasury bills are being accepted by foreign banks on the interbank market as collateral for the funding of the country's systemic lenders. Kathimerini understands that there have been repurchase (repo) transactions with T-bil... read more

 EkathimeriniYesterday
ExxonMobil and Total aim for fast-track concession process

Multinationals ExxonMobil and Total, in cooperation with Hellenic Petroleum (ELPE), will stake a claim for a huge maritime area of 20,000 square kilometers stretching from south of the Peloponnese to Greece's southernmost island of Gavdos.... read more

 EkathimeriniYesterday
Eurogroup statement on Greece

Eurogroup statement on Greece, 22 May 2017... read more

 NaftemporikiYesterday