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Industrial turnover drops by 7.4 pct in October
EconomyMacroeconomyGreece’s industrial turnover edged down sharply by 7.4 percent year-on-year (YoY) in October, from... on Friday showed. October’s reading is the sixth negative reading in the year to date and the third.... In other indicators, November’s PMI index came to 54.1 points, from 53.5 in October, with foreign
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FM rallies opposition to Turkey-Libya deal as Athens prepares for EastMed signing
PoliticsForeign Policyfrom Ankara’s side, especially following the signing of two memoranda with Libya. In this context..." according to diplomatic sources. EastMed pipeline The same sources underline that Dendias’s trip..., Egypt and Cyprus is due to be held in the new year Cavusoglu interview In an interview with Sunday’s
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Alpha Bank launches major securitisation as banks ready portfolios for Hercules scheme
EconomyBankingin the securitisation either independently or as joint ventures. According to reports, the bank’s management has..., with the securitisation aimed to be wrapped up by the end of Q3. This would take Alpha Bank’s non-performing... to seek guarantees of up to 3.7 billion euros through the government’s Heracles plan, mostly via
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Travel surplus rises by 12.7 pct in 9M
EconomyMacroeconomy(9M) of the year, Bank of Greece (BoG) noted in its travel balance report. This year’s figure is 12.7.... Leisure trips accounted for the lion’s share of total expenditure in 9M 2019 at 88.6 percent... concentration BoG’s report showed that five out of 13 regions account for over 87.9 percent
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Uproar over minister's home protection comments underscore sensitive nature of challenge
PoliticsGreek Politicsby Greece’s banks, which is seen as one of the main obstacles to growth in the post-MoU era... to extend the protection scheme with slight amendments, while the country’s creditors pressured them... the elephant in the room and the furore over Georgiadis’s comments may be a sign of things to come. ND may
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General govt primary cash surplus at 9.45 bln in Dec, arrears fall by 195 mln
EconomyMacroeconomyGreece’s general government (gg) primary cash surplus came to 9.45 billion euros across 2019, up by 3.73 billion euros compared to the same period last year, according to the Finance Ministry’s (MoF...). Tax refunds account for the lion’s share of arrears at 34.3 percent of the total, followed by social
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Industrial production declines by 4.5 pct in Dec
EconomyMacroeconomyGreece’s Industrial Production Index (IPI) dropped by 4.5 percent in year-on-year (YoY) in December compared to a revised downward drop of 9 percent in November, according to Hellenic Statistical..., Markit’s PMI showed that Greece’s manufacturing PMI increased to 54.4 points in January from 53.9
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Retail market suffers drop in crisis era, shows consolidation towards larger businesses
EconomyFeaturesGreece’s retail market suffered a loss of over 14 billion euros across the crisis years according... in the fact that ESEE’s data showed a decline in businesses between 2006 and 2016 as businesses shut down... also showed a rise of 4.1 percent YoY, while the European Commission’s economic sentiment indicator
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New businesses lowest in Greece versus EU with funding obstacles burdening enterprises
EconomyFeaturesof the basic problems faced by Greek businesses. Grant Thornton’s presentation, in conjunction with Eurobank... between small and medium enterprises (SMEs) and large companies was also evident. Grant Thornton’s... in Greece’s very high number of small to medium sized enterprises, along with high rates of self
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Current account deficit more than halves to 2.57 bln in 2019
EconomyMacroeconomyGreece’s current account (C/A) balance posted a deficit of 540.3 million euros in December, from...-on-year (YoY). According to the BoG, December’s performance is primarily attributable to improvement... a surplus of 42.7 million, rising against last year’s figure of 23.1 million. Travel receipts came
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