Economy of Greece

Iraklio port tender set for another delay

The opening of the binding financial offers for 67% of Iraklio Port Authority had been scheduled for Thursday, but this is no longer expected to happen.

Both contenders have asked to examine the legalization documents of their competitor.

Their new deadline expires early next week, so it is likely that the financial bids will be unsealed at the board meeting next Thursday.

Foreign buyers going rural

European nationals are showing a huge interest this year in rural Greek realty, led by pensioners and those approaching retirement, estate agents have told Kathimerini, adding that they often make their acquisitions even before the completion of properties' construction.

ATHEX: Bourse benchmark rises almost 8% in one week

Stocks on the Greek bourse continued their impressive rally following last Sunday's election with another day of robust growth and turnover, taking the Athens benchmark to a new nine-year high on Friday. Adding to the momentum was the Motor Oil deal for the takeover of a solar energy company that brings it back into partnership with Public Power Corporation.

ATHEX: Banks boost index helped by mid-caps

Unfazed by news of a German recession and a US credit default threat, the Greek stock market reverted to its upward trajectory on remarkable trading volume on Thursday, recapturing the 1,200-point level, with the help of growth in bank stocks. The universally positive first-quarter results of listed companies also contributed to the price growth.

National Bank quarterly profit drops on lower trading income

National Bank, the country's second-largest lender by market value, has posted a 28% drop in earnings for the first quarter on lower trading income and one-off items.

NBG, 40 percent-owned by the country's HFSF bank rescue fund, said net profit stood at 260 million euros in the first quarter, down from 360 million euros in the same period last year.