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Cosco's 369 mln Piraeus Port improved bid accepted, seals latest privatisation
EconomyBankingincreasing its stake to 67 percent. The state will retain a 23 percent stake in OLP and 3 positions... in OLP and 1 position in the BoD. It is reminded that COSCO, one of the largest Chinese state-owned... been effective from October 1, 2009, involved the management of OLP’s Piers II and III
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Loss-making Q4 and 2015 for Alpha, targets positive bottom-line in 2016
EconomyBankingtrading income, the bank’s core pre-provision income (PPI) fell 3 percent quarter on quarter (QoQ... that out of the 3 billion euros in impairments in 2015, 1.6 billion relate to the outcome... raising in November, the bank’s Common Equity Tier 1 (CET1) ratio reached 16.7 percent, while
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Newsletter 67 - 18/03/2016
would yield at least 1 percent of GDP, as was foreseen in the third memorandum of understanding... for the targeted pension cost savings of 1 percent of GDP to be achieved. The lenders are also insisting... to the Q4 reading for 2014. The year-on-year decline reflects a rise in the number of employed by 3
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Greek corporate lending rates up to 250 bps higher than eurozone average
EconomyMacroeconomyThe corporate lending rates did not show any marked change in February with that for amounts above 1 million euros slipping by 3 bps to 4.83 percent. For lower amounts, the respective rate stood at 5.62 percent (amounts below 250,000 euros) and at 5.23 percent (amounts between 250,000 and 1 million euros
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Can Greece learn to love renewable energy?
EconomyFeaturesto an estimated 8.1 million jobs (direct and indirect).[1] Driving past the wind turbines in the Greek... percent at the end of 2015.[3] The group’s energy sales revenues from renewable sources at the end... and short term economic outlook that would be a welcome buffer. [1] http://www.ren21.net/wp-content
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Greece’s embattled commercial steel market industry braced for more challenges
EconomyFeaturesand Chinese steel imports to curb the effect of cheap steel on European prices.[1] The fallout from.... Meanwhile, Chinese steel production has risen from 15 percent in 1999 to 50 percent today.[3] The country... blamed on price volatility of raw commodities. [1] https://www.ft.com
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Piraeus Bank posts minor losses in Q4, almost breaking even for 2016
EconomyBankingin Q4 largely due to a rise in operating expenses, while the full-year figure also dropped by 3..., the NPL stock declined further by more than 1 billion QoQ to 24.38 billion in Q4 from 25.35... to 1.32 billion, while excluding one-off expenses costs were down 3 percent on a recurring basis
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ESM takes stock of Greece's sovereign vulnerability
EconomyProgrammeindicator, a score of 1 to 4 is assigned in the ESM’s analysis. Specifically, if a country is among... the 25 percent worst-performers are assigned the score 1 (most vulnerable). To identify the cut-off... 2 and 2.5 to elevated, between 2.5 and 3 to moderate and a score above 3 means low vulnerability
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Hydrocarbons add to tension between Turkey, Greece and Cyprus
PoliticsForeign Policyto reach Cyprus' block 3 for hydrocarbon research when it was impeded. Turkey is currently conducting military exercises close to Cyprus's Block 2 and 3 and has blocked the area using a NAVTEX... confirmed that it had made a lean gas discovery in Block 6 with Calypso 1 NFW. “An intensive and detailed
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Banks focus on defining challenge of reducing NPEs
EconomyBanking3 cents on the euro of loan principal sold, which translated into 45 million euros for the whole... is proceeding with the sale of an NPL portfolio totalling 3 billion euros, consisting of 50 percent new..., totalling roughly 1 billion euros, which are collateralised. This would bring the total sales
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