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UAE, Greece discuss cooperation in land, maritime transport

UAE, Greece discuss cooperation in land, maritime transport

Dr. Abdullah bin Mohammed Belhaif Al Nuaimi, Minister of Infrastructure Development, and Chairman of Federal Transport Authority – Land and Maritime, received on Sunday, Dr. Catherine Boura, Ambassador of Greece to the UAE, to explore prospects for joint cooperation in land and maritime transport as well as in i

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Greece has no immediate problem tapping the markets, Dragasakis says

Greece has no immediate problem tapping the markets, Dragasakis says

Government Vice President and Economy and Development Minister Yiannis Dragasakis referred to the reconstruction of the party that can deal with all situations.

Dragasakis was speaking to the central committee of SYRIZA on Sunday.

Referring to the interest rates in relation to Italy, he said that while there are

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Despite positive figures, Greece is still in transitional period, Liakos says

Despite positive figures, Greece is still in transitional period, Liakos says

“Despite the positive elements it has to show, Greece is still in a transitional period and is therefore affected by the climate of instability,” Deputy Minister to the Prime Minister Dimitris Liakos said in an interview with ‘Real News’ newspaper.

“We are living a period of intense reorganization, and this makes m

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ESM chief economist Strauch: Greece returning to positive growth

ESM chief economist Strauch: Greece returning to positive growth

The Greek people made a major effort to successfully exit their bailout programs, and the reforms are bearing fruit, European Stability Mechanism (ESM) chief economist Rolf Strauch said in a brief address on “Global Financial Stability: Insights from Europe” at the annual IMF-World Bank meeting in Bali, Indonesia, on F

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Greek banks sound, Bank of Greece governor Stournaras says

Greek banks sound, Bank of Greece governor Stournaras says

“The ongoing improvement of the liquidity situation of Greek banks reflects the improved condition of the Greek financial system. The recent stock market developments in respect of the banking sector are not related to the soundness of Greek banks and are due to purely exogenous factors, such as rises in interest rates

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Greek stocks end volatile session slightly lower on Wednesday

Greek stocks end volatile session slightly lower on Wednesday

Greek stocks ended slightly lower in the Athens Stock Exchange on Wednesday, unable to hold on to their early strong gains. Traders said investors remained reluctant despite positive comments made by Bank of Greece governor over the soundness of Greek banks. The bank index jumped 7.78 pct early in the day to end with a

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Greek industrial production index up 1.4 pct in August

Greek industrial production index up 1.4 pct in August

Greece’s industrial production index grew 1.4 pct in August, with manufacturing production rising 2.9 pct in the month, Hellenic Statistical Authority said on Wednesday.

The statistics service, in a monthly report, said that the industrial production index rose 1.4 pct in August compared with the same month in 2017,

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Greek annual inflation rate up 1.1 pct in September

Greek annual inflation rate up 1.1 pct in September

The Greek annual inflation rate rose 1.1 pct in September from 1.0 pct in September 2017 and 1.0 pct in August 2018, reflecting price increases in fuel, pharmaceuticals and telephone services, Hellenic Statistical Authority said on Wednesday.

The statistics service, in a monthly report, attributed this development to

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Iternational Monetary Fund revises growth forecast for Greek economy

Iternational Monetary Fund revises growth forecast for Greek economy

Iternational Monetary Fund revises growth forecast for Greek economy to 2.4% growth for 2019. This forecast is improved by 0.6%, as in April 2018. The Fund estimates that this year’s growth will reach 1.8%.

For Greece’s current account deficit, the IMF predicts that it will grow to 0.8% of GDP this year, while for 2019 i

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Greece out of intensive care but work needed before it can run again, says Singh

Greece out of intensive care but work needed before it can run again, says Singh

The Greek economy has moved on from the crucial phase it was in, said Daleep Singh, a former US Treasury assistant secretary, but added that the global environment is creating a series of challenges that must be handled in order for the country to secure a steady post bailout period.

In an interview with state

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Fitch upgrades Greek bank IDRs after deposit withdrawal restrictions are lifted

Fitch upgrades Greek bank IDRs after deposit withdrawal restrictions are lifted

Fitch Ratings upgraded Alpha Bank AE’s and National Bank of Greece S.A.’s Long-Term Issuer Default Ratings (IDR) to ‘CCC+’ from ‘RD’ and Eurobank Ergasias S.A.’s and Piraeus Bank S.A.’s Long-Term IDR to ‘CCC’ from ‘RD’, it said on Monday. At the same time, Fitch has upgraded the four banks’ Short-Term IDRs to ‘C’ from ‘

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Greek banks have made significant progress, Karamouzis says

Greek banks have made significant progress, Karamouzis says

Greek banks have made significant progress in boosting their capital and stabilizing the banking system, improved all their financial indexes, liquidity and deposits, capital adequacy, reducing NPEs, accessing markets and financing the real economy, Nikolaos Karamouzis, president of Hellenic Bank Association said on Monday.

Addressing an Economist

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Greek stocks came under renewed heavy selling pressure on Monday

Greek stocks came under renewed heavy selling pressure on Monday

A deteriorating climate in the Italian bond market negatively affected Greek state bonds, pushing prices lower and bond yields higher on Monday. The yield spread between the 10-year Greek and German benchmark bonds widened sharply to 4.31 pct from 3.97 pct on Friday, with the Greek bond yielding 4.66 pct (4.52 pct

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Greek trade deficit up 15.1 pct in August, down 1.8 pct in Jan-Aug

Greek trade deficit up 15.1 pct in August, down 1.8 pct in Jan-Aug

The Greek trade deficit widened by 15.1 pct in August despite the fact that export growth (25 pct) exceeded that of imports (20.6 pct) in the month, with the trade deficit shrinking 1.8 pct in the January-August period, Hellenic Statistical Authority said on Monday.

The statistics service, in a monthly report on the

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Greek FinMin Tsakalotos courts Asian investors

Greek FinMin Tsakalotos courts Asian investors

Greek Finance Minister Euclid Tsakalotos, who is currently in the process of courting Asian investors, has encouraged them to tap into the country’s economic rebound and grab the “first-mover advantage” now enjoyed by China.

Early investors will get in just as prices start to rise, Tsakalotos said in a recent interview

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Tourist arrivals in Rhodes up 9.26 pct in September

Tourist arrivals in Rhodes up 9.26 pct in September

Tourist arrivals in the island of Rhodes grew 9.26 pct in September, totaling 402,108 from 368,045 in September 2017, Fraport Greece said in a report.

These figures, combined with early estimates over tourism trends in October, confirmed forecasts that 2018 will be the best year for tourism in the island of Rhodes.

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