Economy
H1 exports show notable fall in many sectors but agricultural products buck trend
Greek exports fell 8.1 percent to 11.8 billion euros in the first half (H1) of 2016 from 12.84 billion a year ago, according to the Export Research Centre (KEEM) of the Pan-Hellenic Exporters Association (PEA).
HFSF study identifies constraints on developing dynamic NPL market
The Hellenic Financial Stability Fund (HFSF) published on Friday an updated analysis of the non-regulatory constraints and developments for the development of a non-performing loan (NPL) market in Greece.
Fitch affirms Greece’s rating at ‘CCC’
In its scheduled review published on Friday evening, Fitch affirmed Greece’s rating at ‘CCC’. It is worth noting that S&P has the highest rating (B-) on Greece, three notches above that of Moody’s (‘Caa3’) and two notches higher than Fitch.
Greek stocks climb 3 pct on week, banks post double-digit gains
The Greek stock market traded in positive territory climbing by 3 percent this week following modest gains of 0.7 percent in the previous week. The improving performance was accompanied by a notable recovery in the trading activity.
New round of cuts in supplementary pensions
The Unified Auxiliary Insurance Fund (ETEA) confirmed on Wednesday that 230-240,000 supplementary pensions, around 20 percent of the total number of 1.24 million, will be downward adjusted.
Stable rate in time deposits, corporate loan rates pick up in July
Greek households’ new time deposit rate was kept stable at 0.86 percent in July, Bank of Greece (BoG) data showed on Thursday.
PMI picks up to 50.4 in August, new orders grow for first time in two years
Greece’s Manufacturing PMI resumed above the 50-point mark edging up to 50.4 in August after falling to 48.7 in July, Markit survey showed on Thursday.
Viohalco subsidiaries post losses in H1 2016
Industrial giant Viohalco has released its H1 2016 financial results, outlining the group’s performance during a challenging year for commodities.
One-off loss affects NBG’s P&L, NPE stock drops by 900 mln in Q2
National Bank of Greece (NBG) recorded net losses of 3.06 billion in the second quarter (Q2) of 2016, fully attributed to a one-off loss of 3.1 billion involving the recycling of losses related to Finansbank that were previously recognised in other comprehensive income as well as in equity and capital.
Eurobank remains profitable with net profits of 46.2 mln in Q2
Eurobank remained profitable for the second straight quarter, albeit with lower net profits of 46.2 million in the second quarter (Q2) of 2016 from 60.2 million in the previous quarter.