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Greek Daily News 16/07/2024

ECONOMY -Scope Ratings GmbH affirmed Greece’s long-term issuer and senior unsecured debt-category ratings at BBB-, in both local- and in foreign-currency, and revised the Outlooks to Positive, from Stable. -The Output Price Index in Agriculture – Livestock (excluding subsidies) increased by 6.3% in May 2024, compared with May 2023, the Hellenic Statistical Authority (ELSTAT) data…

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Greek Daily News 12/07/2024

ECONOMY -In the Greek wholesale electricity market, the MWh price in the evening hours on Wednesday reached as much as €500, forming an average daily price at the highs of €184.79, Kathimerini reported. The price is more than €80/MWh higher than the already high prices of May and June. -A hike of 5.3% was recorded…

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Greek Daily News 11/07/2024

ECONOMY -Wood & Company, the leading investment bank in Central and Eastern Europe, maintains its Greek economic growth forecast at 2.8% but the firm remains cautious about the impact of potential wildfires and floods in 2024. -The concessionaire for Kalamata Airport in Peloponnese is expected to be decided upon by the end of 2024, according…

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Greek Daily News 10/07/2024

ECONOMY -One in two Greek consumers declares they will not take a vacation this year, amid high prices of services and holiday packages, a survey by the Research Institute for Retail Consumer Goods (IELKA) revealed. According to ELSTAT, compared to last June increases of 19.7% have been recorded for plane tickets, while hotels appear to…

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Greek Daily News 09/07/2024

ECONOMY -Moody’s upgraded National Bank and Piraeus Bank deposit ratings on Monday, citing improvements in their financial fundamentals. -JP Morgan has upgraded its recommendation for OTE‘s stock to overweight from neutral but lowered the target price for stocks of the largest technology company in Greece to €17.3 from €17.7. -The annual inflation rate in Greece…

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Greek Daily News 08/07/2024

ECONOMY -The summer sales season officially kicked off today (July 8) and will extend through August 31. According to assessments, this summer’s sales target is to exceed last year’s benchmark of 7 billion euros in turnover for both July and August, AMNA reported. -Greece’s trade deficit rose to EUR 3.4 billion in May 2024 on…

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Greek Daily News 05/07/2024

ECONOMY -Major credit rating agency S&P improved the ratings of four Greek systemic banks (National Bank, Alpha Bank, Eurobank, Piraeus Bank) and boutique shipping lender Aegean Baltic Bank (ABBank). National and Eurobank were placed one step before investment grade and, respectively, Alpha Bank and Piraeus two notches below investment grade. Aegean Baltic Bank’s long-term rating…

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Greek Daily News 04/07/2024

ECONOMY -International media outlets have critisized Greece’s introduction of a six-day working week, saying the move is at odds with workplace culture elsewhere in Europe and the US, where four-day working patterns are becoming more common. New legislation, which came into effect at the start of July, allows employees to work up to 48 hours…

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Greek Daily News 03/07/2024

ECONOMY -Greece’s economic climate index fell to 110.6 points in June from 111.0 points in the previous month, according to a survey by the Economic and Industrial Research Foundation (IOBE). -Summer sales in Greece will kick off on Monday, July 8 and go on until August 31. On July 14, as on the first Sunday…

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Greek Daily News 02/07/2024

ECONOMY -Digital work card was implemented fully in retail trade and industry as of Monday (July 1), AMNA reported. The tourism and catering sectors are expected to be added in autumn 2024. -An amendment extending the duration of measures against high prices until the end of 2024 was tabled in the Parliament on Monday. Fines…

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