Economy
Industrial turnover dives 18.3 pct in Aug for highest drop in almost 5 years
Greece’s Turnover Index in Industry continued heading south for the tenth successive month in August, when it fell at an accelerating pace of 18.3 percent from 15.4 percent in July, Hellenic Statistical Authority (ELSTAT) data displayed on Tuesday.
Cash primary surplus contracts 2.9 pct to 2.68 bln on weak revenues in Sept
Greece’s central government primary cash surplus eased by 2.9 percent to 2.68 billion euros in the first 9 months of 2015 from 2.76 billion last year, Bank of Greece (BoG) figures showed on Monday.
Piraeus Q3 trading update shows significant acceleration in NPL formation
Following a more detailed trading update for the second quarter (Q2) published last week, Piraeus Bank released on Monday a condensed trading update for Q3 outlining the evolution of the key balance sheet items.
Privatisation chief sees gradual progress but revenues remain unclear
In an interview with Kathimerini newspaper on Sunday, the Chairman of the Hellenic Republic Asset Development Fund (HRADF) Stergios Pitsiorlas provided an update on five privatisation projects.
Greek stocks up by 1.3 pct this week on banks’ 12.4 pct rebound
The Greek stock market saw only marginal movement this week except on Thursday when it rebounded 2.7 percent, led by a sharp rise of bank shares by 13.9 percent amid rumors that capital needs would be manageable.
Greek banks brace for recapitalisation, with Piraeus initiating a bond swap offer
Following meetings held with the Single Supervisory Mechanism (SSM) of the ECB in Frankfurt on Wednesday and Thursday, media reports indicate that Greek bankers appear more optimistic on the final outcome of the ongoing assessment noting that capital needs could be manageable.
ELA funding drops by 1.58 bln in Sept for third straight fall
Greek banks’ Eurosystem funding slipped for the third straight month in September, when it fell by 1.58 billion euros, the Bank of Greece's (BoG) monthly financial statement showed on Thursday.
Budget execution slips in Sept as 3.08 bln primary surplus turns to underperformance
Greece’s budget execution showed a deterioration in September, with the primary balance recording a deficit of 719 million euros from a surplus up to 1.8 billion in the prior four months, the Finance Ministry's (MoF) preliminary figures showed on Thursday.
Committee of wise men proposes drastic changes to Greece's pension system
The findings of the committee of wise men established by the Labour Ministry to examine the current situation and propose a new plan for Greek pension system were presented on Thursday.
Banks' trading updates show slight improvement in core pre-provision income, deceleration in NPL formation
Changing its previous announcement to publish its second quarter (Q2) financial results on Wednesday, Piraeus Bank released today a trading update providing the evolution of the key balance and P&L items excluding loan provisions and profits.