Economy

Greece has once again followed a familiar pattern as it lost ground on the latest "Doing Business Index", published by the World Bank. According to the report, which is set to be formally released today and which assesses how easy...

Fortore Energia is an Italian company working in the wind energy, photovoltaic and biomass sector.  The company is increasing its presence in the Greek market. After having founded Fortore Gea Hellas with head offices in Kozani, it submitted a request...

Marfin Popular Bank said late Monday that its board of directors will convene on November 11th to discuss an 488.6 million Euro rights issue, proposed by the Executive Committee. In a research note, Citi says that it hasn’t been disclosed...

On Friday Piraeus Bank said it will proceed with a capital increase in cash via the offering of pre-emptive rights to existing shareholders, for approximately €800 million.  This amount is subject to shareholders΄ approval at the EGMs. The bank said...

Last Wednesday the Greek government tabled an amendment in Parliament to extend incentives for the repatriation of capital from abroad until Dec. 31, 2010. The amendment also extends  to the end of the year, a deadline for payment of tax...

Tourism group Grecotel is expecting to see a rise in its market share of 18% in Russia and the Ukraine.   Agreements were signed with the 60 most important tour operators in the two countries, which represent 80% of Greece's tourism...

Greece's 2009 budget deficit will be more than 15% of GDP after revision. This was announced today by Greek Finance Minister Giorgio Papaconstantinou, quoted by the press in a conference in Cyprus (photo). Eurostat has to officially announce the...

Further deficit efforts from Greece should focus on spending cuts and reining in tax evasion and not on new taxes, Greece’s central banker said. "There is no more room for increasing tax rates on businesses and individuals," Governor George Provopoulos...

Greece will pay by the year's end all hospital debts accumulated with medical suppliers from 2005 up to last month.  The nation plans to keep closer tabs on such costs in 2011, as stated bya senior health ministry official to Reuters on...

"Greek practical bankruptcy due to restructuring the huge debt of the state is unavoidable, in spite of the austerity measures for cutting budget expenses, which the government undertook."  An authoritative economist made this comment on Sunday. “For me it is...

The implications of the upwards revision of Greece’s budget data by Eurostat will not be substantial, an IMF spokesperson told Capital Still, the Fund points out that there is no question of changing the target of reducing the fiscal deficit...

Qatari companies have cancelled their plans for a private 2.5 billion euro liquified natural gas and power project at the Astakos port in western Greece.  This result is due to disagreements with Italy concerning LNG prices. However the cancellation of...

Eurogroup chief Jean-Claude Juncker said in an interview with a Greek newspaper appearing on Sunday that: "since 2008 we had been pressing and ringing the warning bell to the Greek authorities to take measures to reverse the situation, which...

Economic diplomacy is underway in Luxembourg on the way EU countries will politically accept the revision of the Greek deficit and debt that threatens to subvert the goals of the 2011 budget, but also on the question of extending...

Greece will auction a three month Treasury bill issue next Tuesday the 19th of October, seeking to raise 900 million euros from the market. The issue will be auctioned to the market's primary dealers.  The settlement date is set...