Economy
Hellenic Petroleum net profits rise 34 pct in H1
Greece’s largest oil refinery, Hellenic Petroleum’s financial results for the first half (H1) of the year showed that the group’s sales rose by 15 percent during the first six months.
Eurobank sees net profits of 1.1 mln in Q2, NPEs continue to fall
Eurobank recorded net profits of 1.1 million euros in the second quarter (Q2) of 2018 compared to profits of 34.5 million in the previous quarter.
Retail turnover in June grows strongly led by fuel and supermarket sales
Greece’s retail sales index increased by 3.3 percent in June, following a revised downward 4.9 percent rise in May, Hellenic Statistical Authority (ELSTAT) data showed on Friday.
Alpha Bank makes loss of 52.9 mln in Q2, reaching profit of 12.3 mln in H1
Alpha Bank reported a net loss of 52.9 million euros in the second quarter (Q2) of the year, attributable entirely from profits originating from continued operations. The results reverse profits of 65.2 million euros noted in the first quarter of the year.
Athens eyes cancellation of pension cuts as Tsipras prepares Thessaloniki package
The Greek government has given its clearest indication yet that it does not intend to implement the 1 percent of GDP in pension cuts due next year.
Economic sentiment remains stable as retail confidence materially improves
Greece’s economic sentiment (ESI) remained broadly unchanged in August dropping by 0.1 points to 105.2 following a rise of 2.8 points in July, European Commission (EC) figures revealed on Monday.
Crisis-era productivity in Greece lowest among OECD countries
A study by the Organisation for Economic Cooperation and Development (OECD) examining productivity levels over the last seven years found that Greece was the only country surveyed where productivity fell over the period.
Deposits inflows reach 840.6 mln in July driven by time deposits
Net deposit movement in the Greek banking system continued to stay on positive ground with inflows of 840.6 million in July, albeit falling from inflows of 1.36 billion in June, Bank of Greece (BoG) figures revealed on Tuesday.
Credit contraction at 1.5 pct in July, balance at 177.56 bln
Credit contraction in the Greek market deepened to 1.5 percent in July from 1.2 percent in June, Bank of Greece (BoG) figures released on Tuesday showed.
Budget primary surplus confirmed at 2.05 bln in July on lower PIB expenditure
The budget primary balance was confirmed at a surplus of 2.05 billion euros in the first seven months of 2018, the Finance Ministry (MoF) final budget execution bulletin for July showed on Friday. Last year’s figure for the same period came to 3.02 billion.