Economy of Greece

Japanese ratings agency R&I has upgraded Greece to B- from CC, while retaining a stable outlook.

The Greek economy shrank by less than 1.5 percent in the first quarter of this year, Greek Finance Ministry sources have told the media ahead of confirmation by the Hellenic Statistical Authority (ELSTAT) later this week.

Greece's jobless rate improved in February to its lowest rate in more than a year, data showed on Thursday, in another sign the Greek economy is emerging from a crippling six-year slump.

By Vangelis Mandravelis

OPAP subsidiary Ellinika Lachia SA announced on Wednesday the instant lottery’s return to the Greek market under the name “Scratch.”

The new scratch cards, which were launched at the start of May, appear to constitute a priority for OPAP’s Czech management and the flagship of Ellinika Lachia regarding sales strategy.

Eurobank dominated the action during Tuesday’s bourse session. The bank stock’s major decline combined with its 53.5 percent share of all trading on the day sent indices lower as the turnover climbed.

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.

 Social discontent and higher uncertainty may hide surprises in the European Parliament election result

By Dimitris Kontogiannis

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.

By Derek Gatopoulos

Greece's will achieve better-than-expected budget figures in 2014 year but that unemployment would only decline slowly over the coming four years, the country's finance ministry said Wednesday.