ECONOMY

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ECONOMY

Aspiring entrepreneurs are now able to launch their business activity by taking care of all the necessary paperwork work online.


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BUSINESS

OTE Telecom, Greece’s biggest telecoms operator, said on Friday that revenue would start growing from the second half of the year as coronavirus vaccinations gather pace and transport restrictions are lifted.


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PRIVATIZATION

The management of the National Bank of Greece appears to have decided to concede an increased stake in the group’s insurance subsidiary, Ethniki, amounting to 90% to CVC Capital Partners instead of 80% that was the original target.

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ECONOMY

Provisional estimates put electronic commerce turnover in Greece at 11 billion euros last year, posting an annual jump of 35%, Athens University for Economics and Business Professor Giorgos Doukidis said.


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TOURISM

The worst year for global tourism saw Greece suffer an even worse decline in arrivals than the global average, the Institute of the Greek Tourism Confederation (INSETE) said on Friday.



The Acropolis and a deserted Plaka, a popular district with tourists in Athens, are seen during the lockdown last spring. The pandemic has taken a hefty toll on earnings from Airbnb bookings in the Greek capital. [Thanassis Stavrakis/AP]
ANALYSIS

The pandemic and the resulting crash in the tourism industry also greatly affected short-term rentals, with total earnings falling to €467.4 million from €989 million in 2019, a drop of almost 53%.


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FINANCE

The government aspires to contain public expenditure and procurements in an effort to acquire a better picture of what is being stored by broader public sector entities such as hospitals, universities etc, as well as the equipment owned by budget-funded general government entities.

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STOCKS

Despite the jump in global bond yields, the Greek stock market secured notable gains on Thursday, with prices growing across the board and trading volume returning above the 60-million-euro mark thanks to some share package transactions.


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PROPERTY TAXATION

The adjustment of properties’ taxable rates, known as objective values, is evolving into a tough mission, as the surveyors in many parts of the country (there are two for every area) have recommended very different zone rates. There are also major hikes being proposed in some areas that, if accepted, would lead to a significant increase in tax rates.

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BUSINESS

Development Minister Georgiadis discussed on Wednesday with US International Development Finance Corporation Chief Operating Officer David Marchick new opportunities to expand DFC’s work in Greece.

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BUSINESS

Endeavor Greece, the Greek chapter of the global organization supporting the rise of new ecosystems, has announced this week it will be launching a new platform targeting skilled tech experts abroad, both Greek and non-Greek, looking to connect and break into the local tech scene.


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BUSINESS

The Foreign Ministry’s Secretariat General for Public Diplomacy & Greeks Abroad announced on Thursday an online program aimed at helping Greek and Cypriot entrepreneurs who already have a tech startup or are keen to pursue their tech-related innovation.

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FINANCE

The approximately 110,000 retirees still waiting for their pensions to be issued will be able to automatically secure their provisional handout of up to 384 euros a month with the submission of an application on a new platform that is likely to open on March 10.

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TOURISM

The iconic Porto Carras Grand Resort, on the Halkidiki peninsula in central Macedonia, announced on Thursday that it will be reopening on April 29 under new management.