Economy
Budget primary surplus of 3.6 bln by July, monthly revenues short of target by 315 mln
Greece’s budget primary surplus slipped by 3.8 percent to 3.57 billion euros in the 7-month period of 2016 from 3.71 billion last year, the Finance Ministry (MoF) preliminary budget execution bulletin showed on Tuesday.
Greek stocks rebound 2.4 pct, banks edge down for fourth successive week
The Greek equity market largely traded in positive territory this week but on extremely soft volumes with weekly gains at 2.4 percent.
Rebound of 0.3 pct in Greek GDP puts annual estimate of mild recession in sight
Greece’s seasonally adjusted (SA) GDP at constant prices rebounded by 0.3 percent quarter on quarter (QoQ) in the second quarter (Q2) of 2016 after a revised drop by 0.1 percent in Q1, Hellenic Statistical Authority (ELSTAT) flash estimates showed on Friday.
Building activity plummets 31.5 pct in May
Greek building permits dropped for the fifth successive month at a notably accelerating pace by 31.5 percent in May, following a 5.3 percent decline in April, Hellenic Statistical Authority (ELSTAT) data displayed on Friday.
Eurosystem funding drops by another 4.3 bln in July, largely on reduced ELA reliance
Greek banks’ Eurosystem funding continued heading south for the thirteenth month in a row in July, when it decreased by 4.3 billion in July after a drop of 8.57 billion in June, the Bank of Greece's (BoG) monthly financial statement showed on Thursday.
Coca Cola posts strong FX neutral H1 results
Coca-Cola HBC AG has announced its H1 2016 results, which show that FX neutral net sales revenue increased by 2.4 percent. Accounting for currency movements, a 3.4 percent decline in net sales revenue was registered.
OTE sees increase in Greek fixed income revenue, driving EBITDA up by 10 pct in H1
The Hellenic Telecommunications Organization S.A (OTE Group) has released its H1 2016 results, showing a slight drop in revenues for the first six months of 2016 compared to the same period last year.
Majority stake in Piraeus Port transferred to COSCO, further investment lined up
The first and most crucial stage of the Piraeus Port (OLP) privatisation was completed on Wednesday with the transfer of a 51 percent share stake from the Hellenic Republic Asset Development Fund (HRADF) to COSCO.
HFSF General Council appoints interim CEO and Deputy CEO
The Hellenic Financial Stability Fund’s (HFSF) General Council, which convened on Tuesday, appointed Christoforos Stratos and Michael Haralabidis as Executive Board CEO and Deputy CEO respectively for an interim period until the selection of the new board members.
Industrial production surges 7.5 pct in June, with highest growth rate since 2001
Greece’s Industrial Production Index (IPI) soared 7.5 percent in June following an upward revised rise by 3 percent in May, Hellenic Statistical Authority (ELSTAT) data displayed on Tuesday.