Economy
OECD expects Greek economy to recover, stresses need for structural reforms and debt relief
In its latest Economic Outlook report published on Monday, the Organisation for Economic Cooperation and Development said it expects a rebound in the Greek economy in the next two years supported by structural reforms, rising business and consumer confidence and stabilisation of the economic and political environment.
Having failed to resolve differences, Greece and lenders enter new week of talks
Ahead of the Eurogroup Working Group due to convene on Monday, the Greek authorities held a teleconference on Saturday afternoon with the institutions’ mission chiefs on the second programme review.
Greek stocks rise for third consecutive week as trading increases
The Greek stock market has rebounded for the third successive week, albeit with slower gains of 1.9 percent from 5 percent.
Lamda Development shopping centres drive growth for 9M 2016
Property developer Lamda Development’s nine-month financial results show that despite the adverse economic environment this year, EBITDA the group’s three shopping centres posted an increase of 6.7 percent compared to the same time last year, reaching 32.0 million euros.
Budget primary surplus to Oct confirmed at 6.5 bln, 2.9 bln above revised target
Greece’s budget primary surplus was confirmed at 6.5 billion euros in the 10-month period of 2016 from 4.53 billion a year ago, the Finance Ministry (MoF) final budget execution bulletin showed on Thursday.
MIG records a decline in sales for 9M 2016
Marfin Investment Group (MIG) has released its 9-month 2016 results, showing that sales amounted to 848.4 million euros, registering a 3 percent decline versus the same period last year.
NBG turns profitable in Q3, NPE stock drops further by 1 billion
National Bank of Greece (NBG) turned profitable again in the third quarter (Q3) of 2016 with a positive bottom-line result of 16 million from losses of 3.06 billion in Q2, which fully reflected a one-off loss of 3.1 billion related to the recycling of Finansbank’s losses that were previously recognised in other comprehensive income.
Motor Oil Hellas profits rebound in Q3
Motor Oil Hellas’ Q3 results show that the group’s gross profits came to 187.1 million euros versus 134.9 million euros in Q3 2015, an increase of 37 percent. The results mark a strong turnaround for the group compared to their H1 2016 results, which reported a fall in gross profit of 11.1 percent.
High tax continues to dampen OPAP’s performance
The Greek Organisation of Football Prognostics (OPAP), Greece’s leading game operator and Europe’s largest betting firm, has released its Q3 financial statement showing that gross gaming revenue rose by 6.1 percent to 319.2 million euros.
Greece’s downstream oil industry adapts to shifting demands
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If the average person were asked to guess what Greece’s top export is, they might say olive oil or feta. They’d be wrong. It is refined petroleum.