News In English
CVC Capital Partners Reaps Huge Profits from Greek Investments, Leaving Questions for Piraeus Bank
For CVC Capital Partners and its CEO, Rob Lucas, Greece has proven to be a goldmine.
Piraeus Bank in Talks to Acquire 70% of Ethniki Insurance for €469 Million - CVC Poised for 570% Return
For Piraeus Bank, the acquisition represents a strategic move to diversify its revenue streams and enhance shareholder value.
Santorini Struggles with Ongoing Seismic Crisis as Scientists Urge Caution
Santorini, one of Greece’s most celebrated islands, now stands eerily silent as a relentless series of earthquakes between the island and neighboring Amorgos, another Aegean gem, continues to rattle the region.
Could Spyros Latsis Make a Comeback in Greek Banking?
Spyros Latsis, the Greek billionaire and business magnate, is widely known as the son of the late tycoon Yiannis Latsis, whose legacy spans shipping, real estate, and banking.
GEK TERNA and Motor Oil in Talks Over Heron, Stirring Market Speculation
The main question now is whether this corporate engagement will evolve into a strategic partnership with significant ramifications for Greece’s energy sector.
Corruption and Governance: Greece’s Critical Performance in Transparency International’s New Assessment
On February 11, 2025, Transparency International is set to release the new Corruption Perceptions Index (CPI) for 2024, shedding light on global trends and developments in the fight against corruption.
Greek Salary Increases Offset by Heavy Taxation and Social Contributions
Greek workers are set to receive only a modest increase in their take-home pay over the next two years, despite government plans to raise the average gross salary to €1,500 by 2027.
Greek Citizens Targeted by Israeli Spyware Paragon, Italian Government Reveals
The Italian government has revealed on Wednesday that Greek and Cypriot citizens were among those targeted by the Graphite spyware, developed by the Israeli company Paragon Solutions.
HELLENiQ ENERGY CEO Calls for Pragmatic Energy Transition
Andreas Siamisis, CEO of HELLENiQ ENERGY, one of the largest oil companies in Southeast Europe and operator of three refineries in Greece, emphasized on Tuesday the need for a pragmatic approach to energy planning.
Tempi Crash Report Suggests Hazardous Cargo Sparked Deadly Blaze
The Greek newspaper Kathimerini on Wednesday unveiled new details from a draft report by the National Organization for the Investigation of Aviation and Railway Accidents and Transport Safety (EODASAAM) on the Tempi train disaster.
Santorini Rocked by Earthquakes: Airbnb Cancellations Skyrocket
By Tuesday evening, a total of 11,000 people had left Santorini.
Kimberly Guilfoyle’s Appointment as U.S. Ambassador to Greece Draws Interest – and Some Questions
Set to arrive in Athens in early June, Guilfoyle steps into the position at a crucial moment for U.S.-Greece relations.
Political Turmoil in Greece Over Accountability for Deadly Train Crash
Opposition parties have intensified their efforts to hold the government responsible, arguing that both the prime minister and his ministers bear political liability for the disaster.
Greece’s Leading Private Healthcare Chain Set for Major Overhaul After PureHealth Acquisition
The market anticipates substantial strategic and operational adjustments, particularly aimed at addressing financial challenges faced by certain units within HHG’s portfolio.
Greek Insurers Freeze Health Premium Hikes Amid Economic Pressures, Urging Government Support
To tackle rising healthcare expenses, the insurance sector has put forward several proposals.
Greek Tourism Authorities on High Alert Over Santorini Seismic Activity
The Ministry of Tourism remains on high alert, with all relevant agencies fully prepare
European Leaders Seek Common Strategy for Defense Funding Amid U.S. Security Shift
European leaders met again to develop a common strategy for strengthening European defense—particularly its funding, which the European Commission estimates at €500 billion over the next decade.
Greece Moves to Digitize Pension Records in Effort to Speed Up Payments
As part of this modernization effort, EFKA is upgrading its ATLAS pension allocation system by digitizing paper records from 1980 onwards across all primary and supplementary insurance funds.
Greece Leverages AI to Boost Tax Compliance
Leveraging artificial intelligence, business intelligence, and automation, AADE aims to modernize tax procedures and enhance compliance.
Regulatory Hurdles and Investor Doubts Cloud Piraeus Bank’s Insurance Acquisition
Beyond financial performance, the deal faces significant regulatory hurdles, particularly in the area of capital requirements.
Greek Ombudsman Report Exposes Coast Guard Negligence in Deadly Pylos Shipwreck
The report details significant failures by Greek authorities.
EU Commission Takes Action Against Greece Over VAT Directive Non-Compliance
The small business VAT directive aims to simplify tax obligations for small enterprises by allowing them to sell goods and services without applying VAT.
Athens Stock Exchange Sinks 2.7% Amid Global Market Jitters
The total market capitalization of the Athens Stock Exchange shrank by approximately €2.7 billion.
CVC’s Ethniki Insurance Play: From Entry to Asset Stripping to Exit
Negotiations between Piraeus Bank and CVC over the acquisition of Ethniki Insurance, Greece’s largest insurer, are expected to reach a critical juncture this week.
Coffee Prices Surge, but Greek Café Scene Keeps Expanding
Coffee lovers in Greece may soon be paying more for their daily cup, as retail and café prices are set to rise between 10% and 25% in the coming weeks.
Ghent University Scientists Uncover Explosive Findings in Deadly Greek Train Collision
Scientists from Ghent University have uncovered critical new evidence about the fire that followed the tragic train collision in Tempi, Greece.
Owning Property in Greece? You May Owe Taxes Even Without Local Income
If a foreign investor faces a tax assessment based on imputed income, they have the right to file an administrative appeal with the Independent Authority for Public Revenue (AADE) in Greece.
Hundreds of Small Earthquakes Shake Santorini – Scientists Monitor Seismic Trends
A surge in seismic activity has been recorded in the Aegean Sea, particularly in the area between the Greek islands of Santorini and Amorgos, with over 200 tremors occurring over the weekend.
Greek Court Case on Public Sector Wages Raises IMF Concerns
Despite assurances from the Greek government that it has no plans to reinstate the 13th and 14th salaries for public sector employees, a legal challenge by Greece’s public sector union, ADEDY, set for June, has drawn the attention of the International Monetary Fund (IMF). The case seeks to restore holiday bonuses that were cut during Greece’s financial crisis and bailout programs.
Piraeus Bank’s Interest in Ethniki Insurance Puts Pressure on National Bank of Greece
The unexpected interest of Greece’s Piraeus Bank in acquiring Ethniki Insurance, the country’s largest insurer, has raised eyebrows in the financial and insurance sectors.
NBG Contradicts Greek Supreme Court’s Justification for Dismissing Predator Spyware Complaints
The scandal revolves around the illegal use of Predator spyware, which was allegedly deployed to monitor 87 high-ranking officials, including ministers, military personnel, journalists, prosecutors, and entrepreneurs.