Economy
Hellenic Petroleum net profits slump by 53 pct on oil price movements
Greece’s largest oil refinery, Hellenic Petroleum’s financial results for the first nine months (9M) of the year show that the group’s sales dropped by 7 percent during the period.
Changes to primary residence protection proposed in bid to draw more applications
A bill bringing changes to the framework for the protection of primary residences was submitted to Parliament yesterday by the Finance Ministry, which is hoping to boost the number of applications.
Piraeus sets ambitious NPL targets with Intrum deal as banks prepare securitisations
The deal between Piraeus Bank and Intrum which concluded in October will create the largest independent loan servicer in Greece, executives from both firms said in comments to the press late last week.
PMI stable at 53.5 points in October as foreign orders rise
Greece’s manufacturing PMI remained almost unchanged at 53.5 points in October from 53.6 points in September, according to the latest data from Markit.
Airport privatisation set for take-off as more sales head for runway
The privatisation of the Athens International Airport (AIA) moved forward a step this week when the Hellenic Republic Asset Development Fund (HRADF) announced that 10 investment schemes expressed interest in the first phase of acquiring a 30 percent stake in the airport currently held by HRADF.
Loan interest drops to 4.59 pct in September
The overall weighted average interest rate on all new loans to households and non-financial corporations came to 4.59 percent in September, down 9 basis points (bps) from the rate of 4.68 noted in August, data from the Bank of Greece (BoG) showed on Thursday.
Retail turnover increases by 1.2 pct in August, volume edges up by 0.8 pct
Greece’s retail sales index increased by 1.2 percent in August, following a revised decrease of 1.9 percent in July, Hellenic Statistical Authority (ELSTAT) data showed on Thursday.
Latest T-bill auction highlights shift in Greek yield curve
The flow of positive news in Greece’s sovereign debt market continues as the Public Debt Management Agency (PDMA) announced the results of Wednesday’s 26-week T-Bill auction in which the yield dropped to zero.
Economic sentiment eases to 106.7 in Oct, industry and construction confidence improve
Greece’s economic sentiment (ESI) dropped by 0.5 points in October to reach 106.7 points, European Commission (EC) figures showed on Wednesday.
Credit contraction at 0.5 pct in Sept, balance at 157.28 bln
Credit contraction in the Greek market came to 0.5 percent in September from 0.1 percent in August, Bank of Greece (BoG) figures showed on Tuesday.