Economy
Drilling at Bulgaria’s Khan Asparuh Block Delayed Until 2016
Hydrocarbon drilling at Bulgaria's Khan Asparuh Black Sea block will be delayed by up to a year due to the slump in global oil prices, the international consortium holding the exploration licence has decided.
Economy runs risk of 'irreparable damage,' warns Stournaras
Bank of Greece Governor Yannis Stournaras warned on Monday of the risk of «irreparable damage to the Greek economy» from ongoing political uncertainty and the resulting reduction of liquidity in the market.
Sony benefits from using Piraeus
By Vangelis Mandravelis
Every week three or four Trainose trains, each consisting of 38 carriages, depart from Piraeus carrying as many containers of Sony merchandize destined for Slovakia, where the Japanese elctronics giant assembles TV sets to cover the needs of its European market.
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Gov’t will not renew home repossession ban
By Dimitra Manifava
The Development Ministry appears unwilling to grant another extension to the implementation of a law protecting primary residences from repossession by banks over unpaid debts, as it believes that the legal framework dating from 2010 is sufficient to protect homeowners in financial difficulties.
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Bonds rise for the first time in 10 days
Greek 10-year yields fell from near the highest since September 2013 after Finance Minister Gikas Hardouvelis said a deal with creditors was possible in January if Parliament elects a president this month.
The rate tumbled 34 basis points to 8.81 percent. The rate on three-year bonds declined 87 basis points to 10.26 percent after reaching a record 11.13 percent last Friday.
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Hellenic Bank raises 201 mln euros in new capital
NICOSIA Cypruss Hellenic Bank has raised 201 million euros in new capital, covering the adverse scenario capitalization shortfall of Europe-wide stress tests in October.
The bank said its three major shareholders Wargaming, Third Point Hellenic Recovery Fund and Demetra Investments fully supported the rights issue.
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Flexopack expands with subsidiary in UK
Athens-listed Flexopack announced on Monday that it is setting up a subsidiary in Great Britain, based in Norwich and fully controlled by Cypriot subsidiary Flexopack International Ltd.
The plastics group expects the new firm to assist in its expansion to the British market for the promotion of its products and services.
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Small recovery for stocks after recent sell-off
A slight improvement in the coalition governments poll ratings and in its chances to gather the votes needed for a president to be elected later this month following positive statements by a number of independent deputies, has started to shift the mood on the local market after last weeks sell-off, leading to a small recovery on Monday.
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Sertic: Greatest savings in expenditures, subsidies
BELGRADE - Serbian Minister of Economy Zeljko Sertic stated on Monday that the Ministry's 2015 budget would be lower by RSD 20 billion, and added that the greatest savings will be ensured through expenditure reduction and lower subsidies, while lowest savings will be made in the investment sector.
Turkish refinery opens $3 bln facility
The Turkish oil refining company Tüpraş opened a new $3 billion fuel-oil recycling facility at its refinery in the northwestern province of İzmit on Dec. 15.
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