Tag #Greek Economy

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kathimerini.gr

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Feb 25, 13:12

Athens Stock Exchange Dips 0.88%, Holding Above 1600 Points

The Athens Stock Exchange's general index fell 0.88% to 1603.96 points on Monday, with trading volume at €254.92 million, influenced by global market trends and investor response to German election results and upcoming earnings reports; strong gains in DAA and Coca-Cola prevented a fall below 1600 p...

Athens Stock Exchange Dips 0.88%, Holding Above 1600 Points

The Athens Stock Exchange's general index fell 0.88% to 1603.96 points on Monday, with trading volume at €254.92 million, influenced by global market trends and investor response to German election results and upcoming earnings reports; strong gains in DAA and Coca-Cola prevented a fall below 1600 p...

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Decent Work and Economic Growth

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What were the key factors driving the Athens Stock Exchange's decline during the first trading session of the week?

The Athens Stock Exchange experienced a 0.88% decline in its general index, closing at 1603.96 points, on increased trading volume of €254.92 million. This follows a sell-off on Wall Street and reflects investor assessment of German election results. Strong gains in DAA and Coca-Cola prevented the index from falling below the crucial 1600-point support level.

kathimerini.gr

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Feb 20, 13:10

Hellenic Cables Wins US Submarine Cable Contract

Hellenic Cables won a contract to supply 21 kilometers of 230 kV submarine power cables for the Silver Run Expansion project, connecting New Jersey and Delaware via the Delaware River, with production expected to finish in the first half of 2026.

Hellenic Cables Wins US Submarine Cable Contract

Hellenic Cables won a contract to supply 21 kilometers of 230 kV submarine power cables for the Silver Run Expansion project, connecting New Jersey and Delaware via the Delaware River, with production expected to finish in the first half of 2026.

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Affordable and Clean Energy

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How will the manufacturing and delivery timeline of the submarine cables impact the overall completion of the Silver Run Expansion project?

This contract underscores the growing demand for high-voltage submarine cables in the United States energy infrastructure projects. Hellenic Cables' state-of-the-art manufacturing facility in Corinth, Greece, will produce the cables, slated for completion in the first half of 2026. The project's success relies on the timely manufacturing and delivery of the cables, illustrating the increasing importance of international collaboration in large-scale energy projects.

kathimerini.gr

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Feb 14, 10:08

Greek Construction Giants Secure €1.35 Billion in Thessaly Reconstruction Contracts

Greek construction giants won €1.35 billion in Thessaly reconstruction contracts, prompting legal challenges from smaller firms, most of which have been rejected, potentially delaying the project.

Greek Construction Giants Secure €1.35 Billion in Thessaly Reconstruction Contracts

Greek construction giants won €1.35 billion in Thessaly reconstruction contracts, prompting legal challenges from smaller firms, most of which have been rejected, potentially delaying the project.

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Industry, Innovation, and Infrastructure

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What are the broader implications of this decision on the Greek construction industry and the fairness of public procurement processes?

The awarding of these contracts highlights the dominance of large firms in Greek construction and raises concerns about fairness and competition. While the government aims for swift reconstruction, legal challenges may significantly prolong the process. The decisions by the Single Public Procurement Authority appear to favor established players.

kathimerini.gr

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Feb 12, 13:17

Greece Reforms Real Estate Investment Company Regulations

Greece's new law modernizes its Real Estate Investment Company (REIC) framework, streamlining bureaucracy, expanding investment options (including renewable energy), and maintaining investor protections, though concerns over unfavorable tax treatment persist.

Greece Reforms Real Estate Investment Company Regulations

Greece's new law modernizes its Real Estate Investment Company (REIC) framework, streamlining bureaucracy, expanding investment options (including renewable energy), and maintaining investor protections, though concerns over unfavorable tax treatment persist.

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Sustainable Cities and Communities

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How does the new framework address previous limitations and distortions in the regulation of REICs in Greece?

The updated framework consolidates tax provisions, removes unnecessary regulations not aligned with ESMA guidelines, and retains investor protection measures such as 'statement of assets' requirements. It allows REICs to exploit renewable energy units for their properties, subsidiaries, and tenants, improving energy profiles. This addresses limitations in the previous framework which restricted investment types and created distortions.

kathimerini.gr

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Feb 12, 22:20

Greek Banks Face Challenges Amidst Positive Economic Outlook

Greek central bank governor Yannis Stournaras addressed challenges facing Greek banks and the economy, highlighting the need for continued reforms to ensure sustainable growth, while warning about vulnerabilities to international financial conditions and the need for banks to diversify revenue strea...

Greek Banks Face Challenges Amidst Positive Economic Outlook

Greek central bank governor Yannis Stournaras addressed challenges facing Greek banks and the economy, highlighting the need for continued reforms to ensure sustainable growth, while warning about vulnerabilities to international financial conditions and the need for banks to diversify revenue strea...

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Decent Work and Economic Growth

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What are the key challenges facing the Greek banking system and how do they impact the country's overall economic outlook?

Greece's economy shows positive growth, with a projected 2.3% GDP increase in 2024 and similar rates for the following three years. However, the Governor of the Bank of Greece, Yannis Stournaras, highlighted challenges including the high dependence of Greek banks on interest income, making them vulnerable to interest rate reductions. Further strengthening of bank profitability and capital is crucial for continued upgrades.

kathimerini.gr

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Feb 7, 13:10

Alpha Asset Management's 2024 Growth: €6 Billion in Assets Under Management

Alpha Asset Management, a subsidiary of Alpha Bank Group, achieved €6 billion in assets under management in 2024, a 39% increase from 2023, driven by a 65 basis point market share increase and €1.1 billion in net inflows, placing it second in net sales among Greek collective investment managers (exc...

Alpha Asset Management's 2024 Growth: €6 Billion in Assets Under Management

Alpha Asset Management, a subsidiary of Alpha Bank Group, achieved €6 billion in assets under management in 2024, a 39% increase from 2023, driven by a 65 basis point market share increase and €1.1 billion in net inflows, placing it second in net sales among Greek collective investment managers (exc...

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How did Alpha Asset Management's focus on sustainability contribute to its overall performance?

The company's strong performance is attributed to high returns across various Alpha mutual funds, particularly in equity and bond categories, which led to its second-place ranking in net sales among Greek collective investment managers. The significant increase in assets under management reflects both stronger relationships with existing clients and the attraction of new ones, expanding its geographic reach.

kathimerini.gr

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Feb 20, 13:10

Greece Lowers Social Security Costs for Overtime

Greece's Ministry of Labor is changing how social security contributions are calculated for overtime, night shifts, and holidays for full-time employees, basing it on the eight-hour workday rate instead of including premiums, thus reducing costs for both employees and employers while maintaining cur...

Greece Lowers Social Security Costs for Overtime

Greece's Ministry of Labor is changing how social security contributions are calculated for overtime, night shifts, and holidays for full-time employees, basing it on the eight-hour workday rate instead of including premiums, thus reducing costs for both employees and employers while maintaining cur...

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What are the broader economic implications of this non-wage cost reduction, considering its impact on employment and investment?

This measure aims to boost both employee disposable income and business competitiveness. By reducing employer and employee contributions based on the regular eight-hour wage, the government projects annual savings for employees ranging from approximately €49 to €403 and for employers from €78 to €645, based on provided examples. This builds on previous government efforts to decrease non-wage costs, already achieving a 5.4 percentage point reduction since 2019 and aiming for 5.9 percentage points by 2027.

kathimerini.gr

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Feb 15, 13:09

HDB Reactivates Tepich III Loan Fund, Offering €250 Million to Greek SMEs

The Hellenic Development Bank (HDB) reactivated the Tepich III loan fund on February 10, 2025, offering over €250 million in new loans to Greek SMEs through its KYC and OPSKE platforms, following the disbursement of over €450 million in previous loans.

HDB Reactivates Tepich III Loan Fund, Offering €250 Million to Greek SMEs

The Hellenic Development Bank (HDB) reactivated the Tepich III loan fund on February 10, 2025, offering over €250 million in new loans to Greek SMEs through its KYC and OPSKE platforms, following the disbursement of over €450 million in previous loans.

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What is the immediate impact of the Tepich III loan fund's reactivation on Greek SMEs?

The Hellenic Development Bank (HDB) reactivated the Tepich III loan fund on February 10th, 2025, offering over €250 million in new loans to SMEs. Applications are submitted through KYC and OPSKE platforms. This follows the disbursement of over €450 million in previous loans.

kathimerini.gr

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Feb 12, 01:11

CVC Exits Ethniki Asfalistiki, Realizing Near 100% Return

CVC Capital Partners is nearly completely divesting from Ethniki Asfalistiki, selling 70% to Piraeus Bank for €469 million, resulting in a near 100% return on investment due to contractual clauses and the increased valuation of €670 million.

CVC Exits Ethniki Asfalistiki, Realizing Near 100% Return

CVC Capital Partners is nearly completely divesting from Ethniki Asfalistiki, selling 70% to Piraeus Bank for €469 million, resulting in a near 100% return on investment due to contractual clauses and the increased valuation of €670 million.

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What were the key factors contributing to CVC Capital Partners' substantial return on its investment in Ethniki Asfalistiki?

CVC Capital Partners is almost completely divesting from Ethniki Asfalistiki, achieving a nearly 100% return on its investment. The company's valuation increased to €670 million from €505 million at the time of acquisition from Ethniki Bank.

kathimerini.gr

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Feb 12, 13:17

Greece's Property Income Surge and Persistent Regional Disparities

Greece saw an 83% rise in property income's share of household income from Q4 2019 to Q3 2024, exceeding the OECD average, while its per capita disposable income grew by 1.3% in Q3 2024 compared to the previous quarter but remained below pre-crisis levels; regional GDP disparities persisted, with At...

Greece's Property Income Surge and Persistent Regional Disparities

Greece saw an 83% rise in property income's share of household income from Q4 2019 to Q3 2024, exceeding the OECD average, while its per capita disposable income grew by 1.3% in Q3 2024 compared to the previous quarter but remained below pre-crisis levels; regional GDP disparities persisted, with At...

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Reduced Inequality

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What is the most significant impact of the rise in property income on Greek households and how does it compare to other OECD countries?

Greece experienced the highest increase in property income's contribution to household income among OECD countries, rising 83% from Q4 2019 to Q3 2024. This surge, largely driven by increased property and rental prices, contrasts with average EU-27 growth of 19%.

kathimerini.gr

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Feb 11, 16:09

Greece Unveils Capital Market and Crypto Bill with Tax Incentives

Greece's Ministry of National Economy and Finance will introduce a capital market and crypto asset bill next week, including tax incentives for angel investors, SMEs, and corporate bond holders, alongside measures for increased market transparency and crypto asset regulation.

Greece Unveils Capital Market and Crypto Bill with Tax Incentives

Greece's Ministry of National Economy and Finance will introduce a capital market and crypto asset bill next week, including tax incentives for angel investors, SMEs, and corporate bond holders, alongside measures for increased market transparency and crypto asset regulation.

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What immediate impact will the new Greek bill have on capital markets and investor behavior?

Greece will introduce a new bill next week to strengthen its capital market and protect investors in crypto assets. The bill includes tax incentives for angel investors, SMEs entering the market, and holders of listed corporate bonds. It also aims to improve market liquidity and transparency.

kathimerini.gr

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Feb 6, 13:11

Greek Businesses Lag in Investment Despite Optimistic Revenue Outlook

Grant Thornton's annual survey reveals that despite 60% of Greek businesses expecting increased revenue and profits, only 40% plan to increase investments in machinery and 30% in buildings, hindering the country's economic growth and highlighting a need for structural changes to foster investment.

Greek Businesses Lag in Investment Despite Optimistic Revenue Outlook

Grant Thornton's annual survey reveals that despite 60% of Greek businesses expecting increased revenue and profits, only 40% plan to increase investments in machinery and 30% in buildings, hindering the country's economic growth and highlighting a need for structural changes to foster investment.

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How do the findings on investment in sustainability and innovation relate to the overall investment climate and competitiveness of Greek businesses?

The insufficient investment undermines Greece's potential growth, as noted by Eurobank CEO Fokion Karaviás who urged for faster, more decisive investment, alongside reforms and a shift towards an investment-driven economy. Achieving the Draghi report's goals requires a 9% annual investment increase, demanding political commitment and prioritizing investment over consumption tax cuts.

Showing 109 to 120 of 153 results