Economy of Europe

OTE telecom announced on Wednesday the conclusion on Tuesday of the bookbuilding process for the issuance of a 500 million-euro seven-year bond in international debt capital markets.
The issuance was strongly oversubscribed allowing tight pricing. The coupon was set at 0.875 percent, the lowest ever achieved, OTE stated.

The easing of Greek state bond yields to record lows has opened the way to international markets for major Greek corporations too, as they can now take the opportunity to reduce their cost of borrowing.

The Greek stock market shook off international concerns regarding oil prices and a US-Iran standoff and posted some healthy gains in the second half of the week's first session, on improved trading volume too.

The Minister of Public Finance, Eugen Teodorovici, said it is absolutely necessary the new European Commission to take into account the interests of all member states, and not only of some of them that are believed to be stronger and more influent. "I hope that the new team of the European Commission will truly approach every matter in the spirit of cohesion.

Romania is the largest natural gas producer in Easter Europe, with an average natural gas production in recent years of about 11 billion cubic meters, the Oil and Gas Employers' Federation (FPPG) stated. "Today, 13 September, we are celebrating the Day of the Romanian Gas Worker.

The government's Economic Policy Council on Wednesday unblocked the process for the sale of a 30 percent stake in Athens International Airport, in the presence of Prime Minister Kyriakos Mitsotakis.

A Finnair Airlines plane flying from Helsinki to Paris landed an emergency in the Finnish city of Turku due to the death of a passenger on board, RIA Novosti reports.

The airline's press service says the plane made an unplanned landing in Turku because of a sick passenger.

Greece's finance minister will submit an official request to his eurozone peers this week to repay a loan to the International Monetary Fund, Prime Minister Kyriakos Mitsotakis told reporters on Sunday.

"The relevant request will be submitted by the finance minister to the Eurogroup on Friday," Mitsotakis said.

The benchmark of the Greek bourse jumped 20 points on Thursday after a sudden buying spree by traders that saw banks earn almost 4 percent. The favorable climate on foreign markets and the continuing decline of Greek bond yields appear to have convinced investors to buy back into local stocks again.

So far in 2019, Turkish illegal fishers were given 14.1 million Turkish lira ($2.4 million) in administrative fines during coast guard
inspections, the Coast Guard Command said on Sept. 5.