GREEK NEWS

National Bank of Greece on Monday announced that it has entered into a definite agreement with a consortium of funds advised by affiliates of Centerbridge Partners, LLP and funds advised by Elliott Advisors (UK) Limited for the disposal of a portfolio of 12,800 secured non-performing small Business Lending and Small & Medium Enterprises loans .(8,300…

An American think-tank and a Greek university are joining forces to attract global energy resource investment interests to the Eastern Mediterranean, especially to Greece. This is the 1st Annual Eastern Mediterranean Energy Leadership Summit, to be hosted in Athens in the first two days of October. According to the organizers, the conference will bring together…

A bill to be tabled in parliament by Wednesday will include a reduced interest rate for the repayment of outstanding debts to insurance funds, Finance Minister Christos Staikouras said on Monday. In terms of the insurance bill, Staikouras said that interest on outstanding debts to social insurance funds will be reduced from 5 percent to…

The Environment & Energy Ministry gave the go-ahead to the construction of liquid natural gas (LNG) facilities at the south port of Patras, the central Greek city, on Monday. The supply and storage facilities project comes under the Poseidon Med II program and will cover a total of 25,000 square meters near the Glafkos River…

The total size of domestic steel tube production more than doubled in 2018 compared with the previous year, due to the signing of major projects abroad by the leading company in the industry, ICAP said in a survey released on Monday. The survey showed that domestic consumption of steel tubes fell steeply in the last…

Environment and Energy minister Kostis Chatzidakis presented measures to rescue the Public Power Corporation (PPC) in Parliament, during a three-day debate on the new government’s policy statements on Monday, that include the partial privatization of the distribution network operator. The measures for the troubled public utility, he said, include abolishing the lignite and hydroelectric production…

The government will outsource to the private sector the licensing of new investments, Developments and Investments Adonis Georgiadis said in parliament on Monday, during the three-day debate on the government’s policy platform. Georgiadis said a relevant draft bill will be tabled in parliament that will include other provisions for speedier processing of investment applications. “We…

The balance of travel services in May 2019 showed a surplus of 1,361 million euros, compared with a surplus of 1,262 million in May 2018, the Bank of Greece said in a report on Monday. More specifically, based on provisional data, travel receipts in Μay 2019 rose by 9.3% to 1,605 million eirps, from 1,468…

Over 10,000 users have initiated the process of applying for debt management to save their primary residence from loan defaulting during the e-platform’s three weeks in operation, officials said. According to the process, the Special Secretariat of Private Debt Management will post online the percentage and suggested contribution of the state within 15 days of…