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OTE, Greece’s biggest telecoms operator, said it raised 400 million euros from a four-year bond issue.
It completed the note issue on Wednesday via a bookbuilding process and said it was oversubscribed by about five times.
The coupon was set at 2.375 percent, the lowest that OTE has achieved in the last decade, it said in a statement on Thursday.
OTE, which is 45 percent owned and managed by Deutsche Telekom, has net debt of 700 million euros.
The company said it will use the proceeds to refinance part of its future debt maturities and a planned 2-billion-euro investment in new generation networks.
Deutsche Bank and Morgan Stanley were the lead managers.
source: http://www.ekathimerini.com/230627/article/ekathimerini/business/ote-raises-400-mln-via-four-year-bond-issue
The Greek economy grew by 2.3 pct in the first quarter of 2018, after a 2.0 pct growth rate in the fourth quarter of 2017, the Foundation for Economic and Industrial Research (IOBE) said in a report released on Wednesday.
IOBE said that economic growth in the first three months of the year was based on an improvement in the country’s external balance as exports grew 7.6 pct and imports fell 2.8 pct. Investments dropped 12.1 pct, household consumption eased 0.4 pct and public consumption rose 0.3 pct in the January-March period.
“ The quarterly report coincides with a very important period for the country. The completion of the third memorandum. The damage to the economy and the country is very great. Efforts for drastic reforms to improve economic activity and attract foreign investments, designed to preserve the living standards of the previous decade failed to meet the necessary social support. Thus, our living standards, which approached that of Scandinavian countries before the crisis, currently approach that of the other Balkan countries,” Takis Athanasopoulos, president of IOBE said. He noted, however, that “ all is not lost. In the last few years several reforms have been carried out, many things have changed and it is in our hands for the country to move forward faster. There is time for regrouping and regaining lost living standards”.
IOBE's report estimated that economic growth in Greece will reach 2.0 pct this year, exports will grow by 7.0 pct, investments will rise by 13 pct, although public investments are expected to remain subdued for the second year in a row. Household consumption is projected to rise by 0.7 pct despite a decline in unemployment because of more fiscal measures in 2018. Public consumption is expected to rise by 1.5 pct. The unemployment rate is projected to fall to 19.8 pct this year and the inflation rate to reach 0.5 pct in 2018. IOBE said confidence in the banking system was recovering, although at a slow pace.
source: http://www.amna.gr/en/article/275562/Greek-economy-to-grow-around-20-pct-in-2018--IOBE-report-says
ΔΕΛΤΙΟ ΤΥΠΟΥ
“Capital Link CSR Leadership Awards”
ΤΕΛΕΤΗ ΒΡΑΒΕΥΣΗΣ
ΤΙΜΗΤΙΚΕΣ ΔΙΑΚΡΙΣΕΙΣ ΣΤΟΥΣ κ.κ.
Χρήστο Χαρπαντίδη, Πρόεδρο και Διευθύνοντα Σύμβουλο της ΠΑΠΑΣΤΡΑΤΟΣ
&
Θοδωρή Κυριακού, Πρόεδρο του Ομίλου ΑΝΤΕΝΝΑ
ΠΕΜΠΤΗ, 28 ΙΟΥΝΙΟΥ, 2018 ΣΤΟ HILTON ATHENS HOTEL
Αθήνα, 29 Ιουνίου, 2018
Με μοναδική επιτυχία και συμμετοχή που ξεπέρασε τα 600 άτομα, το “8ο Ετήσιο Συνέδριο της Capital Link "Διεθνοποίηση της Ελληνικής Επιχειρηματικότητας - Μια Νέα Διάσταση ΕΚΕ” & ΕΚΘΕΣΗ Έργου Φορέων, πραγματοποιήθηκε την Πέμπτη 28 Ιουνίου 2018 στο Hilton Athens Hotel, υπό την Αιγίδα του Υπουργείου Οικονομίας & Ανάπτυξης, του Υπουργείου Τουρισμού και του Δήμου Αθηναίων. Το Συνέδριο ολοκλήρωσε τις εργασίες του με την απονομή των Διεθνών «Capital Link CSR Leadership Awards» στους κκ. Χρήστο Χαρπαντίδη, Πρόεδρο & Διευθύνοντα Σύμβουλο της ΠΑΠΑΣΤΡΑΤΟΣ & Θοδωρή Κυριακού, Πρόεδρο του Ομίλου ΑΝΤΕΝΝΑ.
Το «Capital Link CSR Leadership Award» δίνεται ετησίως σε μία Ελληνική ή/και Διεθνή προσωπικότητα/εταιρεία, για την κοινωνική τους προσφορά και για την εξαιρετική συμβολή τους στην προώθηση της Ελλάδος και του Ελληνικού Πολιτισμού παγκοσμίως.
by
Gikas A. Hardouvelis
www.hardouvelis.gr
The 10-year old Greek economic depression is unprecedented. Since 2007, not only did real GDP decline by over 26%, but beginning in early 2015 economic activity has stagnated as well. The original fall in output was the outcome of a partly necessary ultra-restrictive fiscal policy, which brought the primary general government deficit from 10% of GDP down to a zero balance in 2014. Yet the subsequent prolonged stagnation is not just due to bad economics but primarily bad politics. In 2015, the moment the economy had just begun taking off, when FDI was flowing into the country and economic sentiment was rising a new and inexperienced coalition government took office. It was led by left wing and right wing populists who aggressively confronted Greece’s lenders, destroyed credibility, starved the country and its banks of liquidity, brought capital controls and aborted the recovery. The country muddles through ever since in what is Greek crisis Phase II. In 2017, positive growth came back but was the lowest in Europe.
Read more: Economic Policy Uncertainty, Political Uncertainty and the Greek Economic Crisis
ΔΕΛΤΙΟ ΤΥΠΟΥ
8ο ΕΤΗΣΙΟ ΣΥΝΕΔΡΙΟ ΤΗΣ CAPITAL LINK
"ΔΙΕΘΝΟΠΟΙΗΣΗ ΤΗΣ ΕΛΛΗΝΙΚΗΣ ΕΠΙΧΕΙΡΗΜΑΤΙΚΟΤΗΤΑΣ - ΜΙΑ ΝΕΑ ΔΙΑΣΤΑΣΗ ΕΚΕ”
& ΕΚΘΕΣΗ Έργου Φορέων
ΠΕΜΠΤΗ, 28 ΙΟΥΝΙΟΥ, 2018 ΣΤΟ HILTON ATHENS HOTEL
Αθήνα, 25 Ιουνίου, 2018
Το 8ο Ετήσιο Συνέδριο της Capital Link "Διεθνοποίηση της Ελληνικής Επιχειρηματικότητας - Μια Νέα Διάσταση ΕΚΕ" & ΕΚΘΕΣΗ Έργου Φορέων, θα πραγματοποιηθεί την Πέμπτη 28 Ιουνίου 2018 στο Hilton Athens Hotel, υπό την Αιγίδα του Υπουργείου Οικονομίας & Ανάπτυξης, του Υπουργείου Τουρισμού και του Δήμου Αθηναίων.
Με ιστορικό 23 ετών στη διοργάνωση εξαιρετικά επιτυχημένων Επενδυτικών Συνεδρίων, η Capital Link εγκαινίασε πριν από 8 χρόνια τη διοργάνωση μιας σειράς Ετήσιων Συνεδρίων Εταιρικής Κοινωνικής Ευθύνης στο Λονδίνο, την Αθήνα και τη Νέα Υόρκη όπου έχει γραφεία. Το Συνέδριο, όπως και όλα τα Συνέδρια της Capital Link (στη Νέα Υόρκη, στο Λονδίνο, στην Αθήνα, στη Λεμεσό, στη Σαγκάη, στη Σιγκαπούρη και από φέτος και στο Τόκυο,) συνδυάζουν μοναδικές δυνατότητες πληροφόρησης, τεχνογνωσίας και δικτύωσης.
CONFERENCE - AGENDA
The 8th Annual Capital Link "Opening up Greece to Global Opportunities – A new aspect of CSR" Forum will take place in Athens, on June 28th, 2018, under the Auspices of the Ministry of Economy & Development, Ministry of Tourism and the City of Athens..
The Globalization of the Greek Entrepreneurship has significant benefits for the Greek economy and thus by extension for the welfare of society as a whole. The expansion of Greek businesses into foreign markets and the attraction of foreign investments into Greece are two pillars for economic growth that can generate revenues and jobs. The globalization of Greek Entrepreneurship exemplifies itself through a wide range of activities – from exports to serving the international markets through local subsidiaries. It includes small scale operations to Greek multinationals – with the common denominator being the Greek Entrepreneurial ability to compete successfully in a global marketplace. And on the other side, it is also exemplified by attracting foreign investments into a multitude of sectors where Greece has distinct competitive advantages. The positive impact from this trend is particularly important at this time, as Greece is gradually recovering from recession, and is returning to a period of economic growth.
Dr. Dimitrios K. Roussis
Adjunct Lecturer Law School DUTh
In year 2010 Greek State entered the IMF-EU Support Mechanism. The State's financial inability was rapidly turned to a private sector's distress.
Large and small market entities faced transactions' fall, loss of profits, irreparable damages, insolvency issues. Individuals lost most of the half of their revenues.
Eventually, all banking and financial institutions operating in Greece confront the collapse of their financial figures and are obliged to fulfill new capital requirements to absorb losses.
Within the frame of a general economic decline almost all property owners are forced to transfer their assets to reduce expenses and tax burdens and prevent greater fall of their assets' value.
Instead, almost eight years after the initiation of austerity measures very few of the transferable assets have been placed and sold. The largest owners (State, Banks) seem too reserved to transfer their property, i.e. shares, stake holdings, loan portfolios.
The inevitable question is raised: what is the actual cause of this costly delay?
Let's try to sum up the crucial factors that affect to our opinion the negative status.
The Greek government’s turn towards realism has raised hopes that foreign and domestic investors would grab the opportunity to transform Greece’s economy and help bring the country out of the decade-old crisis.
Already three massive investment projects are promising to create thousands of new jobs and inject billions into the Greek economy.
Read more: The Three Investments that Could Change Greece’s Fate
by
The government and Greece’s creditors have agreed that the contract for the concession to the ETVA BIPE - Goldair consortium of a freight center on a 0.59-square kilometer plot at Thriasio, western Attica, owned by state railway property firm Gaiaose, will be approved in Parliament by next month.
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