Economy
Government steps in as NBG row takes new twist
Just one day after the election of the new chairman at the National Bank of Greece (NBG), which was seen as providing respite in the recent dispute between the NBG top management and the bank’s major shareholder, the Hellenic Financial Stability Fund (HFSF), things appear to be flaring up again at the lender.
Record job departures in Oct but highest 10-month net hirings since 2001
The employment balance turned negative again in October with net departures notably increasing to 82,810 from 56,473 a year ago, data from the Labour Ministry’s Ergani information system displayed on Thursday.
Hellenic Petroleum’s Q3 EBITDA grows 74 pct
Greece’s largest oil refiner, Hellenic Petroleum, has released its results which show strong performance for both Q3 and the 9-month period of 2016.
OTE enjoys best quarterly growth in a decade during Q3
The Hellenic Telecommunications Organization’s (OTE Group) Q3 results revealed that group revenues rose by 2.7 percent, representing the group’s best quarterly growth in a decade (997.9 million euros in Q3 2016 versus 971.3 million euros in Q3 2015).
In 16th successive fall, Eurosystem funding drops by 3.5 bln in Oct
Greek banks’ Eurosystem funding dropped by another 3.53 billion euros in October after a decrease by 3.15 billion in September, the Bank of Greece's (BoG) monthly financial statement revealed on Thursday.
CPI drops at a slower pace of 0.5 pct in October
Τhe Greek Consumer Price Index (CPI) fell at a decelerating pace of 0.5 percent in October after a drop of 1 percent in September, according to data published by the Hellenic Statistical Authority (ELSTAT) on Thursday.
Unemployment rate edges up to 23.4 pct in August
Greece’s seasonally adjusted (SA) unemployment rate increased to 23.4 percent in August from an upward revised 23.3 percent in July, the Hellenic Statistical Authority (ELSTAT) labour force survey displayed on Thursday.
NBG elects chairman, HFSF calls time-out in dispute over management
The turmoil at the National Bank of Greece (NBG) caused by the dispute between the NBG top management and the Hellenic Financial Stability Fund (HFSF) over the new chairman at the bank seems to have temporarily ended on Wednesday.
In autumn forecasts, EC sticks by GDP estimates but expects lower unemployment
In its autumn economic forecasts published on Wednesday, the European Commission (EC) repeated its previous estimate that economic activity will start picking up from the second half of this year, before notably accelerating in the next two years.
Industrial production edges up 0.1 pct in September
Greece’s Industrial Production Index (IPI) edged up 0.1 percent in September, after an upward revised identical growth rate in August, Hellenic Statistical Authority (ELSTAT) data showed on Wednesday.