Economy
Time deposit rate edges down to 0.76 pct, loan rate spikes to 5 percent
Greek households’ new time deposit rate dropped for the second straight month, albeit at a slower pace, by 3 basis points (bps) to 0.76 percent in October, after a decline by 8 bps in September, Bank of Greece (BoG) data displayed on Friday.
The key elements of the draft agreement between Greece and lenders
During the second round of meetings between the institutions’ mission chiefs and the Greek government, a draft supplemental memorandum of understanding (sMoU) was prepared.
Folli Follie 9-month results show revenues up 9.2 pct
Greek jewellery and fashion accessory designer and retailer Folli Follie’s 9-month 2016 results show that the group’s consolidated revenues reached 956.2 million euros, an increase of 9.2 percent on the 875.5 million euros from the corresponding period in 2015.
Pieces of review puzzle yet to fall into place ahead of Eurogroup
Although progress is being made on ongoing discussions between the Greek government and the institutions, an agreement has not been clinched as the various sides have yet to converge on several key issues.
PMI drops for third straight month to hit one-year low of 48.3 in Nov
Greece’s Manufacturing PMI fell for the third successive month, albeit at a slower pace of 0.3 points in November after a drop by 0.6 points in October, the Markit survey displayed on Thursday.
Collapse of DESFA tender adds to Greece’s privatisation challenges
The Energy Ministry confirmed via a press release issued on Wednesday afternoon that the privatisation process of the Hellenic Gas Transmission System Operator (DESFA) has been cancelled after the preferred bidder, the Azeri SOCAR, did not extend its letter of guarantee.
Alpha Bank posts net profits of 41 mln in Q3, discloses NPE reduction targets
Alpha Bank concluded the reporting period of the four systemic Greek banks releasing its third-quarter (Q3) results on the last day of November.
Bank of Greece reveals lenders' NPE challenge and sets out path to recovery
The Bank of Greece (BoG) published on Wednesday its first report on the operational targets for non-performing exposures (NPEs).
Retail sales rebound for second time in last three months by 1.7 pct in September
The turnover of Greece’s retail trade index increased by 1.7 percent in September after a downward revised drop of 2.5 percent in August, Hellenic Statistical Agency (ELSTAT) figures displayed on Wednesday.
Report shows Greek tax burden increased in 2015, remaining above OECD average
The latest OECD report on Revenue Statistics published on Wednesday revealed Greece’s tax burden increased further by 1 percentage point (pp) to 36.8 percent of GDP in 2015 and remained above the OECD average of 34.3 percent for the third successive year.