Economy
MIG records a decline in sales for 9M 2016
Marfin Investment Group (MIG) has released its 9-month 2016 results, showing that sales amounted to 848.4 million euros, registering a 3 percent decline versus the same period last year.
NBG turns profitable in Q3, NPE stock drops further by 1 billion
National Bank of Greece (NBG) turned profitable again in the third quarter (Q3) of 2016 with a positive bottom-line result of 16 million from losses of 3.06 billion in Q2, which fully reflected a one-off loss of 3.1 billion related to the recycling of Finansbank’s losses that were previously recognised in other comprehensive income.
Motor Oil Hellas profits rebound in Q3
Motor Oil Hellas’ Q3 results show that the group’s gross profits came to 187.1 million euros versus 134.9 million euros in Q3 2015, an increase of 37 percent. The results mark a strong turnaround for the group compared to their H1 2016 results, which reported a fall in gross profit of 11.1 percent.
High tax continues to dampen OPAP’s performance
The Greek Organisation of Football Prognostics (OPAP), Greece’s leading game operator and Europe’s largest betting firm, has released its Q3 financial statement showing that gross gaming revenue rose by 6.1 percent to 319.2 million euros.
Greece’s downstream oil industry adapts to shifting demands
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If the average person were asked to guess what Greece’s top export is, they might say olive oil or feta. They’d be wrong. It is refined petroleum.
Fiscal Council adopts 2017 budget forecasts with three reservations
Following the tabling of the 2017 budget in Parliament on Monday, the Greek Fiscal Council published on Tuesday its opinion, which concludes that it adopts the forecasts but under three reservations.
Moody’s changes outlook for Greek banks from negative to stable
In a report released on Tuesday, Moody’s upgraded Greek banks’ outlook to stable from negative on the back of improving profitability and funding, which are expected to normalise from a very weak base.
Travel receipts rebound 2.3 pct in September, 9-month figure still points to a decline of 5.5 pct
Greece's travel receipts rebounded for the first time in the last six months by 2.3 percent in September, Bank of Greece (BoG) figures displayed on Tuesday.
Second round of review talks concludes without breakthrough on labour reforms
Despite lengthy meetings that started on Monday morning and continued overnight until 5.30 am on Tuesday, Greek officials and institutions mission chiefs did not clinch an agreement on the key issues of the second programme review.
Budget for 2017 sees primary surplus at 2 pct on 2.6 bln fiscal measures, strong growth
Finance Minister Euclid Tsakalotos tabled in Parliament on Monday afternoon the 2017 budget detailing the government’s fiscal and macro estimates for 2016 and 2017.