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Billionaire hedge fund manager John Paulson says he believes in the future of Greek banks and the growth potential of the country’s economy.
Read more: John Paulson: We believe in the future of Greek banks
A day after the White House confirmed that US President Barack Obama will pay a post-election visit to Athens, sources close to Greek Prime Minister Alexis Tsipras said the news marked a recognition of Greece’s role “as a pillar of stability in the wider region.”
Read more: Obama visit hailed as nod to Greece’s regional role
Greece expects to have “very good news” to announce by next week on the process of selling its power grid operator ADMIE, a unit of its PPC electricity company, Energy Minister Panos Skourletis said on Tuesday.
Read more: Greece expects ‘good news’ on grid operator sale by next week, says minister
Dear Readers,
During his brief visit to Athens and before heading off to Ankara, the UK Secretary of State for Foreign and Commonwealth Affairs Philip Hammond MP, in an unofficial briefing of journalists, has sent a clear message: his country demands serious reforms from the European Union, less bureaucracy, more flexibility on all fronts, including the right for less social benefits to members of other European countries.
As more and more ship classification societies focus on Greek shipping, Europe’s largest class society DNV GL has big plans to develop Piraeus into a third home and decision-making centre. David Glass reports.Classification societies target Greek shipping
The Union of Greek Shipowners fired a broadside at the European Union over the hot topic of taxation and warned that tampering with conditions set out in the current Community Guidelines on State Aid to Maritime Transport will not only have a far-reaching impact on Greece’s crisis-mired economy but will also imperil Europe’s shipping strength. David Glass* reports.
Read more: Union of Greek Shipowners fires warning shot at EU over taxation issues
A recent study by global non-profit Endeavor Greece, EY, Athens University of Economics and Business and the Hellenic-American Chamber of Commerce shows that a growing current supporting entrepreneurship is taking root in Greek universities. The researchers polled 2,222 students in 30 higher education institutions and found the vast majority held a positive view of entrepreneurship, many wanted to become entrepreneurs and tech is the field of choice for a startup. Business File’s Maria Kagkelidou reports.
Greece is looking forward to another record-setting year in tourism in 2016 taking advantage of security concerns related to international terrorism, but safe forecasts cannot be made yet. Although the predictions are generally speaking good, many hotel owners are willing to sell their business while banks are getting ready to put on the block a number of indebted hotel units to foreign funds and hotel companies. In the mean time, the Sani-Ikos deal shows the way; other hotel chains will follow in coming months. Business File reports.
Read more: Optimism that 2016 will be another record year for tourism
The sacking at the government’s request of the chief executive of Greece’s biggest bank, in which a US hedge fund is the second-largest investor, took markets by surprise. Yet the move underscored a daunting obstacle for international companies entering the Greek market: the Athens government’s track record of interfering in corporate affairs whether or not the state is a shareholder. Issues of governance loom larger than ever as the SYRIZA-led administration pushes ahead with privatisation sales agreed as part of Greece’s 86 billion euro third bailout, while unions and even some cabinet members raise obstacles to deals that are already underway. Kerin Hope reports.
Read more: State meddling remains obstacle to international investments
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