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Thursday, 07 December 2023

Erdogan to Sakellaropoulou: We should talk looking at the full part of the glass

“I think it will be better for the future of both sides to talk about the glass half full,” Turkish President Recep Tayyip Erdogan said on Thursday during his meeting…

JP Morgan’s investment invitation in Athens

The large international rating agencies continue to “sell” the investment dream in Greece to their clients. “We hope you will be able to join us on this journey, which will…

Argyriadis (Huawei) to “Naftemporiki”: Constant training is a key pillar of our programs

Huawei’s training program will continue in 2024, expecting similar success, as “training is a key pillar of CRS programs and Huawei wants to continue to contribute to this field in…

Greeks work longer on average than others in the EU

Greek workers, both salaried and self-employed, work significantly longer hours on average than workers in other EU member states, according to a new survey conducted by the French Rexecode. Based…

Prime Minister Mitsotakis to meet Turkish President Erdogan

“We go to Greece, and then to Hungary on December 18. Our goal is to improve and strengthen our relations and cooperation with the countries of the region, starting with…

Wednesday, 06 December 2023

Low interest rates on deposits urge Greeks look for alternative options

Thousands of deposit account holders seem to be looking for alternative options as the interest rates on deposits in Greece remain at extremely low levels, as evidenced by the continued…

Greece’s economy rises by 2.1% in Q3

Greece’s economy rose by 2.1% in the third quarter of 2023 compared with the same period last year, the Hellenic Statistical Authority (ELSTAT) said. The GDP grew by 0.02% between…

More tankers in the Greek-owned fleet

Greek shipowners are reportedly investing in both new-built vessels and second-hand tonnage. On the shipyard level, shipping sources told “Naftemporiki” that TMS Tankers recently returned to the Chinese shipyard Cosco…

DESFA- Corinth Pipeworks: 27-mln-euro contract for a certified hydrogen transport pipeline

Cenergy Holdings announced that Corinth Pipeworks, its steel pipes segment, was awarded a contract with a value of more than 27 million euros by DESFA, the Hellenic Gas Transmission System…

Kollias to “N”: Combining fiscal responsibility with provision of incentives for investment

The President of the Economic Chamber Konstantinos Kollias in an interview with “Naftemporiki” stressed the need to combine fiscal responsibility with the provision of incentives for investment, as well as…

Zara: Pre-Owned platform extends to Greece

Zara will launch on December 12 the Pre-Owned platform that helps customers extend the life of their clothes in 14 new European markets, including Greece. Through the platform, Zara customers…

Stylianidis: The alignment of EU legislation with international IMO standards is a matter of high priority

“Maritime transport is a well-established globalized industry,” Minister of Maritime Affairs, Christos Stylianidis, said in his intervention at the meeting of the EU Council of Transport Ministers, in Brussels. Stylianidis…

The Growthfund Summit: The Athens Stock Exchange in transition to developed markets

The Athens Stock Exchange as a growth tool dominated a panel discussion in the context of “The Growthfund Summit”, organized at the Athens Micro Stock Exchange. Yannos Kontopoulos, managing director…

Growthfund Summit: The logistics sector faced with problems

The special importance of the logistics sector was underlined in the first Growthfund Summit organized in Athens. The speakers also referred to the opportunities and challenges, while pointing out the…

Amazon Web Services: The first European Outpost Testing Lab in Greece

Amazon Web Services chose Greece for the opening of the first Outpost Testing Lab (OTL) in Europe and the 5th in the world. The presence of AWS in the country…

Tuesday, 05 December 2023

Hatzidakis announces launch of National Investment Fund

Economy and Finance Minister Kostis Hatzidakis announced the launch of a National Investment Fund and the modernization of the legislation governing the operation of public enterprises operating under the ‘umbrella’…

Significant changes in favor of borrowers and consumers

Significant changes in favor of borrowers and consumers are implemented with the passing of the bill for servicers, as the penalties for credit companies are tightened, while changes are also…

Heracles: Strategic investment in green transformation with the support of the EU Innovation Fund

The EU Innovation Fund, one of the world’s largest funding programmes for the development of large-scale innovative decarbonisation technologies, has chosen to co-finance Heracles Group’s “Olympus” CO2 capture project. The…

Pure car carriers on track for new record

The current year is expected to be a record year for the pure car carrier market. According to Clarksons latest estimates, sea transport of cars will grow by 17% this…

Intrakat: Liquidity injection of 85 million in Aktor subsidiary

Intrakat covered Aktor’s liquidity needs totaling 85 million euros, only a few days after the completion of its acquisition. Intrakat’s vice-chairman and CEO Alexandros Exarchou, said that this amount concerns…

Marina of Flisvos celebrates 20 years of operation

The Marina of Flisvos, which celebrates 20 years of operation this year, has developed into a place of economic activity and recreation. The managing director of the Flisvos Marina, Stavros…

Pitsilis: Tightening penalties for fuel smuggling or adulteration is important

The Hellenic Authority for Communication Security and Privacy (ADAE) chief, George Pitsilis, called the bill to limit tax evasion “very important”, speaking to the Economic Affairs Committee of the Parliament.…

Greek food and beverage producers expanding in Asia

Greek food and beverage companies held a total of 405 Business to Business meetings, as part of a business mission organized by the German Hellenic Chamber of Industry and Commerce,…

RRF: Financing investment plans

The Recovery and Resilience Facility (RRF) is the main arm of the Next Generation EU (NGEU), which, together with the Structural Funds, constitutes a comprehensive package of channeling resources to…

The three financial goals for return to full normality

The return of the average salary in the private sector to the previous levels, the increase of GDP per capita, the stimulation of investments – also in real estate –…

Monday, 04 December 2023

Developments in the tanker market affect charters

Despite the spectacular increase in tanker construction over the last two years, newbuild tonnage still lags well behind tankers that have exceeded 15 years and are nearing the end of…

Advanced Technologies and Smart Applications dominate the 17th Annual Marine Technology Conference

The 17th Annual Conference of Marine Technology was held at the Eugenides Foundation. The president of the Hellenic Institute of Marine Technology (HELINT), Dr. N. Liapis, opened the proceedings. Τhe…

Barba Stathis acquires 80% of Halvatzi Makedoniki

Barba Stathis, a subsidiary of Vivartia, announced the acquisition of 80% of Halvatzis Makedoniki. “It is with great pleasure that we welcome today Halvatzis Makedoniki to the family of Barba…

Tight security measures in Athens ahead of Erdogan’s visit

Strict police measures are expected in Athens ahead of Turkish President Recep Tayyip Erdogan’s visit on December 7. More specifically, 3,500 Greek police officers will take part in the operation…

EU sources to “Naftemporiki”: 70% of new Stability Pact disagreements resolved; still remains a critical 30%

“70% of the disagreements on the new Stability Pact have been resolved, but there remains a critical 30%, which the EU Finance Ministers hope to settle at the Ecofin meeting,…

The government planning ‘Christmas Basket’ on Dec. 13

The government is planning to launch the “Christmas Basket” on December 13, according to the General Secretary for Commerce and Consumer Protection, Sotiris Anagnostopoulos. The measure is part of the…

Eyes on Moody’s; What to expect from the triple investment upgrade

The Greek government is now aiming at acquiring the investment grade from the last rating agency, after the recent upgrade by Fitch, so that the potential purchasing power for Greek…

Window of opportunity for non-performing loans

The bill on servicers includes important amendments, which facilitate the out-of-court settlement, but also enshrine the role of servicers, so that the process “runs” on time. For example, they advocate…

Danaos: Investments at the right timing

Danaos Corp.’s investment in bulk carriers, capesize type, is made at the right time, as the charter market is considered to be rather “hot” right now. The Greek company listed…

Minion: The rebirth of an iconic landmark

Omonia square and the surrounding area are about to undergo a huge restoration project, in an attempt to regain its lost glory, leaving behind the image of degradation. A decisive…

Friday, 01 December 2023

Greece re-elected to the International Maritime Organization (IMO) for 2024-2025

Greece was re-elected in the first position of the Council under Category “A” of the International Maritime Organization (IMO) for 2024-2025. Category “A” includes countries with the largest interest in…

High prices in supermarkets to be maintained in 2024, analysts say

Market analysts estimate that high prices in supermarkets will be maintained in 2024, seeing the average price increase at 4.5% for the next year. However, prices are expected to start…

Mytilineos to EU Commission: Immediate need to adopt the Green Pool

European Commission President Ursula von der Leyen met with Vice-President Maros Šefković and representatives of the energy sector to discuss issues of energy-intensive industry, from electricity prices and over-regulation to…

Single-digit unemployment rate after 14 years

The Hellenic Statistical Authority (ELSTAT) recorded a single-digit unemployment rate (9.6%) in October, for the first time after 14 years, despite the fact that the employed are fewer by almost…

Heracles cement: 600 million investments in 2024-2027

The Heracles cement industry, a member of the Holcim group, plans investments of 600 million for the next four years 2024-2027, significantly increased compared to the period 2019-2023 which was…

Awaiting Fitch potential upgrade

Although 2023 is a year with several problems and geopolitical risks, it could not be characterized as negative for the Greek economy. One of the factors that played a decisive…

Countdown to sailings with ETS

The shipping sector is expected to be included into the European Union’s Emissions Trading system on January 1, 2024. However, preparations in the member states and negotiations for last-minute changes…

2023 Black Friday: Retail sales stagnate on reduced purchasing power

The trade and services institute INEMY-ESEE conducted a survey on the performance of stores on Black Friday. It used a random sample of 300 businesses in the sector that carried…

Mitsotakis: The three sectors of artificial intelligence application

Prime Minister Kyriakos Mitsotakis had a discussion with Google Vice President for Engineering & Research, Yossi Matias, in an event marking the 15 years of Google’s presence in Greece. Mitsotakis…

Thursday, 30 November 2023

Shipowners sound the alarm over the renewal of the tanker fleet

Leading names in the domestic and international shipping sector estimated that the renewal of the tanker fleet looks like a difficult task, mainly because of the extremely high costs and…

E-commerce: 2,000 executives wanted

A new digital tool, which connects human resources looking for work and companies active in the technology and e-business sectors, was launched by the Greek e-Commerce Association – GR.EC.A. Careers…

Attica Group and Elefsis shipyards sign agreement

An agreement between the Attica group and the Elefsis shipyards of the Onex group is underway. According to “Naftemporiki” sources, this agreement will concern all the ships of the Attica…

Inflation falls to 3% in November – 7.7% rise in food prices

Greece’s inflation slowed significantly to 3% in November from 3.8% in October. Based on Eurostat’s preliminary data, the harmonized index of consumer prices registered a further decline to 2.4% in…

‘Rebrain Greece’-Georgiadis: Large companies offer 110 highly specialized positions

The Labor and Social Security Ministry’s digital platform “Rebrain Greece”, which is evolving into a modern interface between the supply and demand of highly skilled workers, helps Greek businesses to…

LR class for the first LCO2 carriers ordered at Hyundai Mipo Dockyard

The two medium-sized, low-pressure LCO2 (liquid carbon dioxide) carriers (with ammonia dual-fuel capability) ordered by Capital Gas Ship Management at Hyundai Mipo Dockyard will join the Lloyd’s Register classification. The…