Economy
ALD Automotive-LeasePlan merger could affect Greek leasing market
The completion of the takeover of Dutch multinational LeasePlan by the French ALD Automotive for 4.9 billion euros leads to the merger of the two leasing and fleet management companies operating in Greece, with the position of managing director in the new structure (ALD Automotive-LeasePlan) being occupied by the previous CEO of LeasePlan, Costas Petroutsos.
Banks see revenue from interest soar
Greece's four systemic banks recorded an increase in interest income between 50% and 75% in the first quarter of the year, benefiting from the rise in interest rates on their loan portfolios and the containment of interest rates on deposits.
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Costs hamper construction
The cost of new housing construction has recorded an increase of 65-70% from mid-2021 to date due to the successive crises - first the disruption in the supply chain caused by the pandemic and then the war in Ukraine.
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Greece’s bonds trade as if investment grade already achieved
Greek bonds are already trading as though the country has regained investment grade, bank analysts that deal with Greek government debt told Reuters on Friday, with the news agency reporting that investors consider Greece's return to investment-grade credit ratings "a done deal."
Greece, a champion in debt slashing
Moody's projects that Greece will post one of the largest debt reductions internationally over the next few years, stressing that the sustainability of the Greek debt is already at a much better level than that of Italy (which is rated investment grade) and will continue to be.
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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.
Eurozone yields set for weekly rise on repricing of ECB rate hikes
Eurozone government bond yields were headed for a weekly rise as robust economic data and hawkish remarks by central bank officials triggered some upward repricing in market bets about future European Central Bank rate hikes.
Kılıçdaroğlu pledges to ease burden of credit card debts
Republican People's Party (CHP) leader and Nation Alliance's presidential candidate Kemal Kılıçdaroğlu has pledged the citizens to make regulations in order to ease the burden of credit card debts if he is elected as the president in the May 28 polls.
PPC swings to profits in year’s first quarter
Greece's main power utility Public Power Corporation (PPC) said on Thursday it had swung to profit in the first quarter on the back of lower energy costs.
The utility reported net profit of 51 million euros for the January-to-March period versus a loss of €186 million last year.
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Turkish banks are sound, say Minister Nebati, regulators
Turkish banks and the country's banking industry are resilient and sound, the top economy official and regulators have said in separate statements.