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Corinth Pipeworks, a subsidiary of Cenergy Holdings, will construct the steel pipes for the Gas Interconnector Greece-Bulgaria (IGB) that will plan, build and manage the natural gas pipeline, a project linking Komotini in northern Greece and Stara Zagora in Bulgaria, with projected connections to other pipelines such as the Trans Adriatic Pipeline and the natural gas grid of Greece.

Expectations are dropping among investors and real estate officials about the impact the government's recently announced incentives will have on the construction sector. Some in the business are even calling on the government to change the measures before they are voted on by lawmakers on the grounds that they will have little, or no impact, on building activity and are more trouble than they are worth.

The European Commission has found Greek plans aimed at supporting the reduction of non-performing loans of Greek banks to be free of any State aid. The Commission found that, under the asset protection scheme (known by the name of “Hercules”), the Greek State will be remunerated in line with market conditions for the risk it will assume by granting a guarantee on securitised non-performing loans.

Environment and Energy Minister Kostis Chatzidakis has departed for Sofia to sign an agreement about the Gas Interconnector Greece-Bulgaria (IGB) with his Bulgarian counterpart, Temenuzhka Petkova, on Thursday. Following the signing of the bilateral IGB agreement, the delegations of the two countries will attend a working luncheon.

Greece can achieve a 2.8 percent economic growth rate forecast in its 2020 budget draft if foreign investment activity picks up, says Kathrin Muehlbronner, Senior Vice President at Moody's Investors Service, in comments to Business Daily on Wednesday.

A number of fund managers believed recently that Greek banks had turned the corner and started building positions in the sector. But most of them now looking over their portfolios in disappointment, realizing that there is a massive gap between preparing a proposal that will improve the balance sheets of lenders and implementing it. What did go wrong.

The budget sees gross domestic product expanding by 2.8 percent in 2020, versus a previous forecast of 2.3 percent in the country's mid term plan. This year, however, Greece's growth forecast will miss the mark, with expansion seen at 2 percent, as opposed to the 2.3 percent target previously set.

Eurobank, Greece's third-largest lender, is holding talks exclusively with US fund manager Pimco on the sale of its Financial Planning Services (FPS) unit, sources tell Business Daily, ruling out negotiations with any other potential buyer. The deal relates to Eurobank's FPS unit, the lender's loan recovery business, and includes its Cairo portfolio of sour debt worth 7.4 billion euros.

Citizens that will upgrade their residents will have a tax reduction up to 40 percent, government spokesman Stelios Petsas said on Sunday in an interview with SKAI. According to Petsas, «the government's main plan is to provide a reduction of taxes up to 4,000 euros to anyone who makes expenses of 10,000 euros to upgrade his property».

"There is no fiscal gap for 2020 and this will be shown in the draft budget to be submitted to Parliament on Monday," Finance Minister Christos Staikouras said in an interview with "Εleftheros Typos" newspaper on Sunday.