Economy
Economy
Deal to sell shipyards may sink
A major deal for the United Arab Emirates-based Abu Dhabi MAR Group to buy Hellenic Shipyards (HSY), also known as Skaramanga, appeared to be floundering yesterday, apparently over the failure to settle several outstanding debts that still burden the...
Economy
Unemployment Rate At 12%
Greece’s unemployment rate in July 2010 was 12.0% compared to 9.6% in July 2009 and 11.6% in June 2010, the country’s statistical office said Thursday.
The number of employed amounted to 4,439,296 persons while the number of unemployed amounted to...
Economy
Hellenic Statistical Authority Reports Decline in Building Activity
Building activity dropped 29.1% in volume in July this year, with a 24.8% decline in the January-July period, substantially contributing to an economic recession in the country, the Hellenic Statistical Authority stated on Monday.
The statistics agency reported a total...
Economy
NBG’s Capital Raise Oversubscribed By 1.83
National Bank of Greece said Tuesday that for the combined offering of the new shares and the convertible equity notes € 3,315,704,345 were offered vis-à-vis € 1,815,054,306 that related to the new shares and convertible equity notes offered, corresponding...
Economy
«IMF can give Greece more time to repay loan»
The International Monetary Fund is prepared to give Greece more time to repay its loan to the institution if European nations, which provided the bulk of a joint 110 billion euro ($154 billion) package, decide to do so first,...
Economy
Deputy FM Sends Letter On Astakos Investment
Deputy Foreign Minister Spyros Kouvelis Thursday sent a letter to Qatari Minister of state for Energy & Industry Affairs Dr. Mohamed Saleh Al-Sada regarding progress in the investment in Astakos, an official announcement said.
Specifically, Kouvelis noted the signing of...
Economy
Revision Of Greece΄s 2009 Deficit May Weigh In 2011 Budget
On the 22nd of October, the day Eurostat will reveal how much the Greek 2009 deficit will be upwards revised, it will become known whether the 2011 budget will once again change incorporating additional measures.
The new data will be...
Economy
The Decline of Greek Tourism
Greek tourism revenues have fallen 7-8% in 2010. Yet early bookings show signs of a recovery next year. Strikes and protests in Greece have kept many tourists away from its beaches and ancient sites this year. This has hurt the...
Economy
New Greek Parliament Committee to Investigate Role of Int'l Banks
A Greek parliament committee will be set up by the end of the year. It will investigate the role of international banks regarding the problems that led to the Greek debt crisis, Athens News Agency reported. It cited statements from...
Economy
Piraeus Bank Withdraws Offer for ATE & Hellenic Post Bank
Piraeus Bank Deputy CE) stated the bank withdrew its offer for the State’s stakes in ATE and Hellenic Postbank.
“Piraeus Bank withdrew its interest as it notes that the relevant decisions are not to be made imminently,” Stavros Lekkakos said.
In...
Economy
Greek – Arab Economic Forum in Athens
The 3rd Greek-Arab Economic Forum opened today in Athens. The event is organised by the Greek Industrialists' Association and by the Greek-Arab Chamber of Commerce.
The Forum's theme is: ''Fostering business alliances to tap emerging opportunities'' and will last until...
Economy
Greece & Qatar Plan to Sign Cooperation Memorandum
Prime Minister Papandreou is expected to sign a cooperation memorandum with the Qatar government. The memorandum will ammount to 5 billion euros with Emir of Qatar Khalifa al-Thani. The memorandum regards Qatar Investment Authority's (QIA) plans involved in the...
Economy
Fitch Investment Agency Schedules October Visit to Greece
By Paris Karagounis
Fitch analyst Chris Pryce stated that Greece is holding tight to its rating of investment grade but it might slip through her hands. His agency is the solemn financial institution which has not downgraded Greece as "junk’’...
Economy
Finance Minister Addresses Tax Meeting
Finance Minister George Papaconstantinou warned on Wednesday the following statistics. The number of pending tax cases totals 2.5 million. Cases in tax courts total 150,000 and involve claims worth 30 billion euros. However tax inspection authorities are able to...
Economy
Greek Public Dept Management Agency Sold 390 Million Euros of Treasury Bills
Dow Jones Newswires reported that the Greek Public Debt Management Agency sold 390 million euros of 13 week treasury bills at an auction Tuesday. The amount sold includes a 30% non-competitive tranche.
Meanwhile Greece’s Debt Chief said foreign investors bought most...