Finance

Athens-listed Mytilineos Group topped the chart of Greek companies for the fifth year in a row and was second among European firms in the Environment, Social and Governance (ESG) Bloomberg Survey, with a score of 78.1 percent.

Moody's Corp has agreed to pay nearly $864 million to settle with U.S. federal and state authorities over its ratings of risky mortgage securities in the run-up to the 2008 financial crisis, the U.S. Department of Justice said on Jan. 13.

The pensions of some 70,000 Greeks who can retire within 2017 will be reduced by up to 20 percent.

The finances of households and corporations in Greece, which have deteriorated over the last 12 months, and the inefficiency of the banks' debt settlement strategies are reflected in the fact that about four in every 10 loans that had already been restructured are now in need of a new payment plan, according to a review of the country's credit sector published yesterday by the Bank of Greece.

Hungary plans to take serious steps against non-governmental organisations linked to the billionaire George Soros after the election of Donald Trump as President of the USA.

Despite political turbulence and security worries, Turkey remains an attractive market for venture capital investors thanks to its prime location, its young, educated workforce, and the depth of Turkish entrepreneurship, according to seasoned market-watchers.

Three crucial legislative interventions are still pending for the handling of nonperforming loans without which banks cannot take full action to tackle the problem.

There is no sign of deterioration in the Turkish banking sector's nonperforming loans or assets quality, which could disturb the system, the head of the Turkish Banking Regulation and Supervision Agency said on Jan. 9, describing a recent Moody's report as "ill-intentioned."

Greek flour-making company Loulis Mills on Thursday announced the signing of two contracts of collateralized common syndicated bond loans, amounting to 30 million euros and 10 million euros respectively, with coordinator and administrator bank Alpha.

In the first bond loan the bondholders are Alpha, Eurobank and National.

National Bank of Greece expects to sell its subsidiary Ethniki Insurance this year and plans other sales as part of its restructuring, its chief executive said on Wednesday.

Last month Greece's second largest lender hired Goldman Sachs and Morgan Stanley as advisers on the sale of the insurance unit, banking sources close to the deal said.