Economy of Greece

Lavrentiadis and another 33 face trial

The Athens Council of Appeals Court Judges on Monday ruled that businessman and former Proton Bank chairman Lavrentis Lavrentiadis – currently in custody – and another 33 suspects will have to go to trial to face charges of running a criminal organization, money laundering, fraud and breach of faith in connection with alleged embezzlement at the lender.

EYDAP leads benchmark index to weekly gains of 1.4 pct

Most of the morning gains in Friday’s bourse session evaporated by the end of the day, although the upward momentum created since Tuesday was enough to see the benchmark clear 1,240 points.

The Athens Exchange (ATHEX) general index closed at 1,240.16 points, adding 0.65 percent to Wednesday’s 1,232.12 points. On a weekly basis it gained 1.39 percent.

OPAP sets new priorities

By Vangelis Mandravelis

OPAP’s chairman and chief executive, Kamil Ziegler, outlined on Tuesday the priorities of the Greek gaming monopoly’s new management following its privatization, which mainly concern the introduction of new games and a shift in sponsorship policy.

Cash-starved bourse loses more ground

The absorption of liquidity from banks’ share capital increases and from sovereign and corporate bond issues has this month deprived the local stock market of the cash that would have kept it on the upward course of previous months. Monday’s decline took the bourse’s benchmark below the 1,200-point level, mostly due to the lack of buyers rather than aggressive selling.