ENGLISH EDITION

ENGLISH EDITION

Investors scratch their heads over Greek banks, bad loan plans

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.

08 Οκτ 2019 11:34

ENGLISH EDITION

Greece sees economic recovery picking up in ambitious 2020 plan

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.

07 Οκτ 2019 15:13

ENGLISH EDITION

Eurobank deal with US Pimco expected soon despite delays-sources

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.

07 Οκτ 2019 11:44

ENGLISH EDITION

Petsas announces up to 40 pct tax reduction for property upgrade

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».

07 Οκτ 2019 10:22

ENGLISH EDITION

There is no fiscal gap for 2020, Staikouras says

"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.

06 Οκτ 2019 21:42

ENGLISH EDITION

US Sec of State Mike Pompeo: We have told the Turks that illegal drilling is unacceptable

The US will offer clear and undisputable guarantees to support Greece regarding the Turkish aggressive stance in the eastern Mediterranean, US Secretary of State Mike Pompeo said in joint statements with Greek Foreign Minister Nikos Dendias on Saturday.

05 Οκτ 2019 20:50

ENGLISH EDITION

Greek CEOs very optimistic over economic developments

The ACEO-ICAP general economic climate index rose to 186 points in the third quarter of 2019 from 171 points in the previous quarter, reflecting the continuation and strengthening of a positive climate that has prevailed after the general elections in July and expectations of a significant improvement of the business environment in the country.

05 Οκτ 2019 08:47

ENGLISH EDITION

US Secretary of State Pompeo arrives in Athens; Saturday's schedule

After a week of travelling to Italy, Montenegro and the Republic of North Macedonia, US Secretary of State Mike Pompeo arrived on Friday evening at Athens International Airport, where he was welcomed by his Greek counterpart, Foreign Affairs Minister Nikos Dendias. Pompeo is scheduled to meet with key Greek officials on Saturday before returning to the US on Sunday.

04 Οκτ 2019 22:44

ENGLISH EDITION

Mohegan Gaming, Hard Rock submit bids for Hellinikon casino

Mohegan Gaming and Entertainment and Hard Rock International have submitted bids to build and operate a casino at Greece's Hellinikon complex as progress on the urban development picks up. Each of the bids from the two casinos is seen involving investments of more than a billion euros with a scheduled completion time of two to three years from when construction of the seaside complex starts.

04 Οκτ 2019 13:38

ENGLISH EDITION

Progress made on Greek bad loans plan in race against time

Significant progress was made in a meeting held Thursday between Greece's Finance Minister Christos Staikouras and top bank officials on the Hercules plan, a proposal to help the country's lenders reduce 75 billion euros of bad loans festering on their balance sheets.

04 Οκτ 2019 10:48

ENGLISH EDITION

Parliament plenary ratifies four concessions for offshore oil and gas drilling in Ionian Sea, waters west of Crete

The Hellenic Parliament, in a plenary session on Thursday, ratified four concessions allowing the exploratory drilling and extraction of hydrocarbons in regions of the Ionian Sea and waters west of Crete.

03 Οκτ 2019 18:46

ENGLISH EDITION

Mytilineos takes leading position in green energy development

Industrial group Mytilineos is cementing its leading position in Greece's energy market with a modern natural gas unit that will start operating in 2021 as it also moves to build on its position in environmentally friendly development. This strategy comes at a time where the Greek government is revising its strategy on green power, setting ambitious goals for the country's switch to renewable energy sources.

03 Οκτ 2019 09:28