ENGLISH EDITION

Vinci does business in energy efficiency, constructions, and other infrastructure projects via its subsidiary Vinci Energies, which reported revenues of 12.6 billion euros in 2018. Almost 30 percent of revenues came from industrial installations, such as building production lines, while another 30 percent came from energy projects. 

This transaction, from which NBG will record a book gain of 500 million euros, could only be executed with the approval of the Greek state. The extraordinary gains are a bonus for the bank which would not have been otherwise able to move ahead with large securitizations of non-performing loans (NPLs) under the state guarantee Hercules plan. The gains will help also help cover losses connected with the sale of National Insurance.

In a letter sent to employees and seen by Business Daily, chief executive Paul Mylonas informed staff that the program will be pushed back to February 10, from the end of December. This will allow for a higher participation rate in the program as many employees had questions about it and how they would be affected by upcoming changes to the social security system.

The EU is working with the government and local government to ensure that funding reduces the repercussions to residents of these areas and creates viable alternatives, the Commissioner said. Countries like Greece that are speeding up the post-lignite programs will have a competitive edge and receive funding earlier. The EU has assessed the amount provided to coal-mining areas of Europe undergoing a transition to nearly 100 billion euros.

Indicative of the mood, was a harsh line adopted by the commission against Portugal on Wednesday, because of insufficient progress in reducing its structural deficit. The opinion is a blow to Portuguese Finance Minister Mario Centeno, who chairs the Eurogroup of finance ministers, who had been credited with overseeing a sharp improvement in the country's finances.

The development plan for the Hellenic Telecommunications Organization (OTE) in the decade ahead is still being worked on, Group Chairman and CEO Michael Tsamaz said in a personal message to staff, adding that they had nothing to fear about the future of their jobs.

These applications, relating to 13 projects that are mostly in the field of tourism, have been submitted to Enterprise Greece, the country's investments and trade promotion agency, for approval. If they are given the green light, the projects will then head to a joint ministerial investment committee that is likely to put them on a fast track process, helping speed up its implementation time by reducing red tape involved.

A major makeover is taking place at Patision street, one of the busiest streets in central Athens. Four new property investments (and possibly a fifth) are set to take place on the street with most located on the stretch between Omonia square and the Athens University of Economics and Business (AUEB).

"We are open to discuss proposals to combine the Israel - Cyprus - Greece project with other interconnections, either within Greece or with other countries of the Eastern Mediterranean," Deputy Environment and Energy Minister Gerassimos Thomas said to ANA.

Turnover of the company's shopping centers rose 2.5 pct compared with the same period in 2018, with average occupance reaching 99 pct. Net Loan to Value ratio was 38.1 pct, while the company's share price was 8.23 euros at the closing of December 31, 2019, up 53.4 pct from a year earlier.