Financial markets
Firms agree: Buy Greek paper
In the next few weeks Greece is set to tap the bond markets for the first time in 2021, and some very positive messages are coming from international firms regarding Greek notes.
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Turkish investors' interest in capital markets on rise
Turkish capital markets in 2020 drew growing interest from domestic investors, with 782,367 people investing in the markets, according to data compiled on Jan. 5 by Anadolu Agency from the Central Registry Agency (MKK).
Piraeus Bank CoCos about to turn into shares
The conversion of Piraeus Bank's contingent convertible bonds (CoCos) into shares will be at a price of 6 euros per share, Kathimerini understands.
This is going to cost the Hellenic Financial Stability Fund, the lender's majority shareholder, some €1.5 billion, according to sources.
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Market not seeing ECB cash
The real economy has seen just a small part of the cash injection granted by the European Central Bank to the Greek credit sector for tackling the impact of the pandemic.
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EU boost for local economy
Greece secured two vital sources of liquidity from the European Union on Thursday that will help it to rebound next year: the extension of the European Central Bank's extraordinary bond-buying program (PEPP) and the unblocking of the Next Generation EU fund following the agreement of the majority of EU states with Hungary and Poland.
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Turkish grocer to sell 35% stake in Moroccan affiliate
Turkish discount grocer BİM has agreed on selling 35% shares of its Moroccan affiliate to the U.K.-based Blue Investment Holding, according to a statement sent to Turkey's Public Disclosure Platform (KAP) on Dec. 9.
Blue Investment Holding is owned by Helios Investment Partners, a private equity fund manager focused on the Africa region.
Cash abundance for economy
The Greek credit sector has received a cheap liquidity boost this year of 40 billion euros from the European Central Bank that has flooded the market with cash aimed at supporting enterprises and households in the face of the pandemic.
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Recovery in Turkish manufacturing sector slows down
The pace of recovery in Turkey's manufacturing activity eased in November amid a second wave of the coronavirus outbreak, according to a closely watched business survey on Dec. 1.
Experts see Piraeus Bank strengthening its credit profile
International agencies view the outlook of Piraeus Bank favorably after the formal verdict by the European Central Bank that leads to turning the Greek lender's contingent convertible bonds (CoCos) into common shares, and despite the major drop in third-quarter profits announced.
Terna Energy to raise capital via private placement
Terna Energy has decided to boost its capital by €50.1 million through private placement.
The decision will officially be taken at a general assembly on September 1 at company headquarters. If approved, the company will issue 4,556,757 common shares of a nominal value of €0.30 each, which will be distributed via private placement at an expected price of at least €11.