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National Bank starts 2014 posting net profit of 181 mln in Q1
EconomyBankingprofit landed at 181 million from 27 million last year mainly reflecting soaring pre-provision income... by a modest 3 percent year on year (YoY). The latter mainly reflects a boost in trading income to 44 million from loss of 7 million last year. Despite a 14 percent YoY rise in Greek net interest
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Greek Tourism Association sees tourist arrivals rising to 19 mln for 2014
EconomyMacroeconomypercent increase to 15.8 million in 2014 from 12.67 million last year. Iraklio in Crete is set to remain... on the seasonality of this year’s visits indicate that 2.7 million visits are scheduled for June and September... in these months and last year’s ceiling of 2.11 million, part of the scheduled visits in the peak
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Tax chief's departure brings coalition revenue plans under scrutiny
PoliticsGreek Politicsin January 2013 on a five-year contract. The position was created after nearly two years of pressure from... euros. #Greece new unpaid taxes at €763 mln in Apr (from €1.21 bln in Mar) & at €4.33 bln year... this year alone. The growing tax burden did not make Theoharis popular and it was noticeable
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Greek banks' Eurosystem funding at lowest since Jan 2010; ELA also wiped out
EconomyMacroeconomybillion), while Piraeus posted the lowest reliance at 9 billion, half of its year-end figure of 18... the year-end figure of 73 billion, which comprised at that time ECB funding of 63.2 billion and ELA... remained broadly unchanged in the first four months of the year at 49 billion. An ECB decision
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With prior actions pending, PASOK showing signs of adjustment fatigue
PoliticsGreek Politicscarry a political cost. One of the other commitments the Greek government has to meet this year... employees placed in the mobility scheme last year but Mitsotakis insists that no more than 500 should... the government should keep to the target for civil service sackings this year. It is an example
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Ιnterest in exercising Alpha's warrants remains rather limited
EconomyBankingyear. The equity raising was carried out at an issue price of 0.44 euros, equal for private investors... are capped to 4 percent for the first year of exercise, 9 percent for the second year, with the highest... gains do not have any ceiling. As an example, investors who participated in last year’s capital
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Unpaid taxes keep rising, tax audits short of targets
EconomyMacroeconomySystems. Following May’s performance, the year to date figure of new unpaid tax obligations stands... taxes due, underperforming the full year target set at 50 percent. On tax audits and collections of large corporates, the released data unveiled that the year to date collection rate stood at 32.4
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Retail sales up 3.9 pct in April for first positive YoY reading since 2010
EconomyMacroeconomyThe turnover of Greece’s retail trade index rose 3.9 percent year on year (YoY) in April from a revised -3.8 percent recorded in March, according to the Hellenic Statistical Agency (ELSTAT). Retail... likely the key reason for the YoY rebound of April sales as last year Easter came late in the year
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Deposits rise for third straight month in May, reaching 162.1 bln
EconomyMacroeconomyfor the third successive month, the year to date net flow is still negative with outflows amounting... of the five months so far this year on continued erosion of households’ disposable income. That said... the last two year shows that the inflows of 12.3 billion euros that have been posted since July 2012
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Loan and deposit rates edge down in May but remain above euro area average
EconomyMacroeconomydeposits fell further by 18 bps 2.53 percent in May, according to the Bank of Greece (BoG). The year... bps year to date to 2.13 percent in June. Similarly, the last 6-month T-Bill yield stood at 2.15 percent, meaning there was a reduction by 200 bps since the beginning of the year. Although time
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