News archive of May 2017

Macedonia Parliament Approves New Gov't after Prolonged Stalemate

Macedonia's new government was elected Wednesday night with the support of 62 MPs in the 120-seat parliament. Its establishment is expected to put an end to the prolonged political crisis in the country. The previous government, led by the right-wing VMRO-DPMNE party stood accused of allegations of wiretapping and corruption.

AEK makes the most of Panathinaikos's revenge over PAOK

An exciting twist of the last round of the play-offs saw AEK nick the top spot right at the end on Wednesday, as a depleted Panathinaikos avenged PAOK for the game controversially abandoned in Athens in mid-May and the elimination in the Cup a few weeks earlier.

Shipowner Marinakis expands his media holdings acquiring the Lambrakis group

The historic - albeit financially troubled - Lambrakis Media Group (DOL) is coming under the control of shipowner Evangelos Marinakis, who also has a number of other media outlets as well as a leading soccer franchise, Olympiakos and a second-tier English soccer club, Nottingham Forest.

Banks to put pressure on strategic defaulters

Banks are putting an end to the informal immunity granted to strategic defaulters, switching their tactics to the more active pursuit of dues. Tackling the problem more efficiently could fetch hundreds of million of euros in liquidity.

Watsa: End capital controls, open up

Greece requires economic liberalization, stressed Prem Watsa, the head of the Fairfax group, while addressing the "Dialogue2" event organized by the Eurolife ERB Insurance Group in Athens on Tuesday.

Athens Airport facelift coincides with 20-year concession extension

The image of Athens International Airport has improved considerably following recent infrastructure upgrades. The country's main airport can now use its fully automatic systems to serve up to 26 million passengers per annum, up from 20 million last year.

Gov't receives triple warning

The Hellenic Fiscal Council and the Hellenic Federation of Enterprises (SEV) warned the government on Wednesday about the threat of stagnation in the economy without the implementation of reforms, along with the threat of fiscal problems in the future from state-guaranteed loans.

Alpha Bank Q1 profit grows as bad debt charges decline

Alpha Bank was profitable for a third straight quarter in January-to-March as provisions for impaired loans declined, Greece's fourth-largest lender by assets said on Wednesday.

13 soldiers killed in helicopter crash in Turkey's Şırnak

Thirteen soldiers were killed when a helicopter crashed in the Şenoba district of the southeastern province of Şırnak late on May 31.

The General Staff said in a statement that the AS 532 Cougar-type helicopter got tangled in a high-voltage power line shortly after taking off from the Şenoba Brigade Commandship at around 8:55 p.m., according to preliminary information.

Greek/Indian venture aims to start work on Crete airport in early 2018

Greek construction group GEK Terna and India's GMR Infrastructure hope to start building a new 850-million-euro airport on Crete early next year, a source from GEK Terna said on Wednesday.

Greece on Tuesday awarded the contract to the Greek-Indian joint venture, which was the sole bidder.