Greek daily news

Greek Daily News 23/05/2024

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ECONOMY

-Substantial investor interest was recorded on Wednesday (May 22) in the reopening of the 10-year Greek government bond. According to the Public Debt Management Agency (PDMA), the bids exceeded by approximately 3.5 times the auction amount of 250 million euros, reaching 835 million euros. The bond’s yield was 3.51%. Through this auction, the PDMA successfully raised 250 million euros.

-Germany’s Pro Credit Bank has granted Greece loans totaling half a billion euros since 2015 until today, with 99% of its portfolio consisting of small and medium-sized enterprises. The ProCredit group, which is mainly active in South Eastern and Eastern Europe, reported a strong financial result of EUR 33.5 million for the first three months of 2024, which corresponds to a return on equity of 13.4%.

-In 2023, Spain took the lead as the EU biggest exporter, sending 7 100 tonnes of honey to countries outside of the bloc, or 29% of all extra-EU exports of honey. Germany followed with 5 500 tonnes (22% of all exports), ahead of Romania (1 700 tonnes, 7%), Hungary (1 600 tonnes, 6%) and Greece (1 500 tonnes, 6%), Eurostat data showed.

(Source: Eurostat)

-A seasonal hotel employee in Greece with no previous experience is paid a salary between 965 and 1,052 euros gross and if he works up to 100 days he still gets €1,631.20 as an unemployment benefit, Kathimerini reported.

-An analysis by the Foundation for Economic & Industrial Research (IOBE) revealed that olive oil drove April food inflation to 5.4% in Greece.

SHIPPING

The “green light” for the continuation of dredging operations in the port of Piraeus, for reasons of safe navigation, was given by the Council of State, Naftemporiki reported.

TRANSPORT

Out of the 140 electric buses, 46 can now circulate in Athens, and in the coming weeks, their number is expected to double the ministry of Transport said in a statement last week. The other 94 are being parked at bus garages as the project of permanently installing the charging infrastructure has not been completed in time.

TOURISM

A historic Boeing B727/284 Mount Olympus aircraft – once part of the fleet of the “Olympic Airways” commercial airline founded by Greek shipping magnet Aristotelis Onassis – has been given a new lease of life as a visitable tourist attraction at the site of the former Greek airport at Elliniko in Athens. The exhibit was organised by Zela Aviation and the Elliniko-Argyroupoli municipality, AMNA reported.