GREEK NEWS

Greek banks cut borrowing from the Eurosystem in October

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Greek banks cut their dependence on the Eurosystem to 37.3 billion euros in October, from 41.7 billion in September, the Bank of Greece said on Monday.

The central bank, in its monthly financial report, said that this development reflected an increase in borrowing by the European Central Bank to 14.6 billion euros in October, from 13.2 billion in...

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Private building activity up 9.5 pct in August

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Private building activity grew 9.5 pct in volume in August this year, despite a decline in the number of building permits issued in the month, Hellenic Statistical Authority (ELSTAT) said on Monday.

The statistics service, in a monthly report said building activity fell 5.3 pct in permits and 4.3 pct in surface but grew 9.5 pct in volume compared...

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Credit risk management conference in Athens

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The need to ensure a stable economic environment, encouraging new business investments, the successful and immediate capitalization of banks, efficient management of non-performing loans and the significance of liquidity and credit risk were the issues in the agenda of a Credit Risk Management conference organized by ICAP late last week.

Addressing...

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Greek exports to India up 2.7 pct in 2016

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Greek exports to India grew 2.7 pct in 2016, while imports from India rose 4.3 pct in the same year, after an increase of 10.6 pct and a decline of 11.8 pct in 2015, respectively, the Greek embassy in New Delhi said in its annual report on India’s economy.

The report noted, however, that with the exception of tourism, bilateral economic relations...

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Survey: Greeks show increased confidence in private insurance

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“Greeks have gradually begun to show more confidence in insurance companies,” Dimitris Mazarakis, president of the Hellenic Association of Insurance Companies (EAEE) said on Friday.

Presenting a poll, conducted by MRB on the ocassion of the Insurance Day, Dimitris Mavros, MRB’s CEO, said around 70 pct of Greeks have a positive view of private i...

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Tzanakopoulos: Greece will record two percent growth by year end

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Greece will register a two percent economic growth by the end of the year, government spokesman Dimitris Tzanakopoulos said on Friday evening in a speech in Kalamata.

“An image of the economy is emerging that corresponds to a recovering country,” he said, adding that the country is moving towards the end of a difficult are of adjustment programs in...

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Government to cut TV ad tax to 5 pct from 20 pct as of April 2018

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A special levy on TV advertisements will be lowered to five percent from 20 percent today as of April 1, 2018, based on an amendment tabled by Digital Policy Minister Nikos Pappas on Friday.

The amendment concerns advertisements played on television channels that will be licensed by the Greek National Council for Radio and Television (NCRTV)...

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European Commission VP visits PPC plant in Lavrio

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European Commission Vice President Maros Sefcovic paid a visit to the Public Power Corporation (PPC) plant in Lavrio, southeast of Athens, on Thursday.

Sefcovic, who is responsible for Energy Union, was given a tour by the PPC president before visiting the Technological Cultural Center of Lavrio.

The Commission vice president was accompanied by...

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