Economy

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.

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.

Hellenic Bank raises 201 mln euros in new capital

NICOSIA – Cyprus’s 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.

Small recovery for stocks after recent sell-off

A slight improvement in the coalition government’s 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 week’s sell-off, leading to a small recovery on Monday.

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