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Economy

Disposable income of Greek households has increased, claims …

“The disposable income of Greek households has increased in the last two year,” Panagiotis Rigas said on Friday. Who is P. Rigas? The General Secretary of Greece’s governing SYRIZA. In an interview with Athens 984 radio, Rigas claimed the disposable income of Greek households has increased in the past two …

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Greece publishes maps for hydrocarbon research in Ionian Sea and off Crete

The Greek Environment and Energy  Ministry published the maps for hydrocarbon research and exploitation rights. The areas are located in the Ionian Sea and off the island of Crete. The map were published on the Government Gazette on Wednesday. The areas affected are: Ionian Sea: One plot north of the …

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Bank of Greece: Increased surplus in the balance of travel services in June

In June 2017, the balance of travel services showed a surplus of 1,9 million euros, up 15.5%, according to information by the Bank of Greece. In June 2016, the surplus amounted to 1,66 million euros. Travel receipts rose significantly and this was driven by a 13.0% increase in inbound traveller …

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UPS Schaeuble wants to allow EZ South to tap ESM for investment

German finance minister Wolfgang Schaeuble was always against a common European debt, against Eurobonds and new support programs for the European South. He seems to have made a U-turn. As expected not without strict measures and concessions. According to German daily BILD, Schaeuble is working on a proposal that would …

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Fitch upgrades Greece to “B” from “CCC” with “positive” outlook

Fitch Ratings upgraded on Friday Greece’s Long-Term Foreign-Currency Issuer Default Ratings (IDR) to “B-” from “CCC”, with a “positive” outlook,based on its view that the country’s third adjustment program review will be completed without creating instability and that the Eurogroup will grant debt relief in 2018. The full rating report …

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2/3 of TAP gas pipeline cleared in Greece and Albania

More than 500 kilometers out of 765 kilometers of the Trans Adriatic Pipeline’s (TAP) route has been cleared in Greece and Albania, which is 2/3 of the pipeline’s length in those two countries, TAP AG consortium said. At the same time, welding and trenching work continues as part of TAP’s …

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Inspectors find tax evasion conducted by foreign-registered yachts

The Greek Coast Guard in cooperation with the newly established independent authority for public revenues, has reportedly stepped up checks of yachts and tourist vessels this summer in an attempt to net undeclared charter revenues and foreign-registered vessels that illegally carry out excursions exclusively in Greek waters. Inspections initially check …

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ELSTAT suspends quarterly flash estimates on GDP; media speculate

Greece’s statistics service ELSTAT has suspended until further notice the release of flash quarterly estimates on the country’s gross domestic product because of divergences with provisional estimates, a statement issued by ELSTAT said on Monday. The move means that flash data will not be issued on Aug. 14. Nationwide quarterly …

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Greece to launch hydrocarbon tenders in Ionian Sea and Crete

Greece will soon launch two new international tenders for the concession of hydrocarbon exploration and exploitation rights in the Ionian Sea and Crete. The new tenders will be launched after applications submitted by the Total-ExxonMobil-Hellenic Petroleum consortium -which is interested for the sea regions southwest of Crete- and Energean Oil …

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Greece receives six expressions of interest for gas grid operator DESFA

Greece received six expressions of interest for the sale of a 66 percent stake in state natural gas grid operator DESFA, the country’s privatization agency (HRADF) said in a press release on Monday. The investor groups that responded to the tender are: -Macquarie Infrastructure and Real Assets Ltd -A consortium …

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