Greek Business File2021-11-16T14:17:25+03:00

Greek Business File

OTE sells Telekom Romania to Orange Romania

The Hellenic Telecommunications Organization S.A. (“OTE S.A.” or the “Company”) announces that it has entered into an agreement to sell its 54% stake in Telekom Romania Communications S.A. (Fixed, Telekom Romania or “TKR”) to Orange Romania. The agreed consideration is €497m for 100%, corresponding to €268m for OTE’s stake, on a debt-free, cash-free basis and is subject to customary adjustments at closing of the transaction, such as for net debt, working capital and pre-Closing items. OTE will retain ownership of [...]

November 9th, 2020|Greek Business File|

Moody’s upgrades Greece- Greece sells bonds at negative yield for the first time

From B1 to Ba3: Moody's Investors Service upgraded its credit rating for Greece with a steady outlook. The ratings agency stated the following reasons for its decision: - Ongoing reforms that support the sustainable improvement of institutions and have already presented tangible progress in areas such as tax administration, tax compliance and the fight against corruption. - The country's growth prospects in the coming years are positive despite negative short-term effects due to the pandemic, especially in the tourism sector. [...]

November 8th, 2020|Greek Business File|

Greece enters national lockdown for the second time- What are the new rules

On Saturday, 7th of November, Greece has entered its second national lockdown. The decision was taken after a spike in new coronavirus cases and the increasing number of hospitalized COVID- 19 patients. The total number of confirmed coronavirus cases has surpassed 50.000 with more than 700 deaths. “We need to stop this wave” Kyriakos Mitsotakis, Prime Minister of Greece, said, announcing the new measures. “ I choose drastic measures sooner rather than later. Many European countries were forced to take [...]

November 7th, 2020|Greek Business File|

N. Bernitsas: «I see a grid more favorable for investment»

Greek Business File, September-October 2020, No 127 Interview by Antonis D. Papagiannidis N. Bernitsas: «I see a grid more favorable for investment» Notis Bernitsas appears optimistic about the course of the Greek economy. In an interview with Economics, he claims that the Mitsotakis government, in its first year, has shown a collective commitment to promote investment and predicts that large investors will soon seize the opportunity to invest in Greece, a country with strong institutions and the strongest currency in the [...]

November 5th, 2020|Greek Business File|

The birth of an idea

Greek Business File, September-October 2020, No 127 by Themistocles Vokos The birth of an idea An emblematic event for the shipping community, Posidonia, proved to be a victim of the Covid-19 pandemic. Originally planned for June, Posidonia 2020 were postponed to October and then cancelled, for the first time in their long history that tried to recreate the atmosphere of the ancient Greek ‘agora’. Business File asked Themistocles Vokos, a person that actually shaped Posidonia exhibition, to describe the birth [...]

October 29th, 2020|Greek Business File|

Troubled waters. Can the Greek Merchant Marine react symbolically to Turkish revisionism?

Greek Business File, September-October 2020, No 127 Geopolitics by George Prevelakis   Troubled waters. Can the Greek Merchant Marine react symbolically to Turkish revisionism? Greece has gone through a severe economic crisis during the 2010s. Currently, apart from the Covid-19 challenge, Greece faces a serious threat by her neighbouring Turkey who employs various means and ways to claim a share of the Greek maritime space.   Can the Greek presence abroad, the Diaspora and the Merchant Marine, be of assistance [...]

October 23rd, 2020|Greek Business File|

Expand the private sector, support sustainable infrastructure, enhance the financial sector: EBRD ‘s new goals for Greece.

The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a new strategy for Greece, which will guide the Bank’s investment and policy engagement in the country during the next five years. The EBRD’s work will include measures in response to the ongoing coronavirus crisis and efforts to support economic recovery. In the period to 2025, the EBRD’s operational and strategic priorities in Greece will be based on the following three pillars: strengthening competitiveness by facilitating the [...]

October 23rd, 2020|Greek Business File|

Greece asks for full suspension of the EC-Turkey Customs Union

Greece is asking for a full suspension of the customs union between EU and Turkey. The letter was send by the Greek Minister of Foreign Affairs, Nikos Dendias, to the European Commission's enlargement chief, Oliver Varhelyi. A copy of the letter has also been send to the EC Vice Presindent, Valdis Dombrovskis. In the letter, N. Dendias states that the Commission should consider the full suspension of the customs union “as a message of disapproval for Turkey's ongoing illegal behavior” [...]

October 21st, 2020|Greek Business File|
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