Economy
Rebound of 0.3 pct in Greek GDP puts annual estimate of mild recession in sight
Greece’s seasonally adjusted (SA) GDP at constant prices rebounded by 0.3 percent quarter on quarter (QoQ) in the second quarter (Q2) of 2016 after a revised drop by 0.1 percent in Q1, Hellenic Statistical Authority (ELSTAT) flash estimates showed on Friday.
Building activity plummets 31.5 pct in May
Greek building permits dropped for the fifth successive month at a notably accelerating pace by 31.5 percent in May, following a 5.3 percent decline in April, Hellenic Statistical Authority (ELSTAT) data displayed on Friday.
Eurosystem funding drops by another 4.3 bln in July, largely on reduced ELA reliance
Greek banks’ Eurosystem funding continued heading south for the thirteenth month in a row in July, when it decreased by 4.3 billion in July after a drop of 8.57 billion in June, the Bank of Greece's (BoG) monthly financial statement showed on Thursday.
Coca Cola posts strong FX neutral H1 results
Coca-Cola HBC AG has announced its H1 2016 results, which show that FX neutral net sales revenue increased by 2.4 percent. Accounting for currency movements, a 3.4 percent decline in net sales revenue was registered.
OTE sees increase in Greek fixed income revenue, driving EBITDA up by 10 pct in H1
The Hellenic Telecommunications Organization S.A (OTE Group) has released its H1 2016 results, showing a slight drop in revenues for the first six months of 2016 compared to the same period last year.
Majority stake in Piraeus Port transferred to COSCO, further investment lined up
The first and most crucial stage of the Piraeus Port (OLP) privatisation was completed on Wednesday with the transfer of a 51 percent share stake from the Hellenic Republic Asset Development Fund (HRADF) to COSCO.
HFSF General Council appoints interim CEO and Deputy CEO
The Hellenic Financial Stability Fund’s (HFSF) General Council, which convened on Tuesday, appointed Christoforos Stratos and Michael Haralabidis as Executive Board CEO and Deputy CEO respectively for an interim period until the selection of the new board members.
Industrial production surges 7.5 pct in June, with highest growth rate since 2001
Greece’s Industrial Production Index (IPI) soared 7.5 percent in June following an upward revised rise by 3 percent in May, Hellenic Statistical Authority (ELSTAT) data displayed on Tuesday.
NBG raises 300 mln from SME loan securitisation in first such Greek transaction since 2007
National Bank (NBG) said on Monday it completed a securitisation of SME loans, the first such transaction by a Greek bank since 2007.
After calm summer, hectic September lies ahead for Greek government
Although August appears to be a relatively quiet month for the government, particularly compared to the previous months and last year, there is a list of 15 prior actions the government is supposed to implement by mid-September to receive the next aid tranche of 2.8 billion euros.