In Brief
Greece ups 2030 linked bond to 3-3.5 bln euros LONDON (Reuters) – Greece increased the size of its planned new 2030 index-linked government bond to 3.0-3.5 billion euros from 2.5 billion euros yesterday, after receiving 9.5 billion euros of orders, a banker familiar with the tender said. Order books were likely to shut at short notice, the official at one of the banks managing the sale said, with pricing most likely to occur today. The government bond was linked to eurozone consumer price inflation. Earlier, an official at one of the banks managing the sale said the issue would be priced tighter than original guidance, at around 30 basis points over the French OATei due 2030. The European trading day began with one banker familiar with the sale saying the new bond would be 30-34 basis points over the French linker bond. «The debt agency raised the amount of the bond after strong demand,» a group treasurer with a major Greek bank told Reuters. Titan Cement says completed purchase of US quarry Listed cement firm Titan’s US unit completed the purchase of Cumberland Quarry as part of its plans to expand operations in North America, it said yesterday. Titan America LLC agreed to pay $36 million (26.9 million euros) in cash for 100 percent of the Salem, Kentucky-based Cumberland Quarry business, its second purchase in the USA in a week, the Greek group said a statement. Last week Titan said it would pay $235 million plus working capital to buy US concrete company S&W Ready Mix. S&W operates 26 ready-mix plants in Myrtle Beach, South Carolina, and Wilmington, North Carolina. (Reuters) Turkish exports rise Turkish exports climbed 19.3 percent year-on-year to $8.935 billion in March, the Turkish Exporters’ Association said yesterday. The association, which gives its figures about a month ahead of official figures, said exports were up 25.14 percent in the first quarter of the year to $23.156 billion. Fast-growing Turkey is trying to increase its exports to trim a gaping current account deficit. The trade gap, which is a major component of the current account deficit, narrowed 0.6 percent in February to $3.718 billion, official data showed on Friday. (Reuters) Greek manufacturing Expansion in Greece’s manufacturing sector accelerated in March, reaching its highest level in almost seven years, a monthly survey of around 300 companies showed yesterday. (Reuters) Cuisine promotion Forty-six companies from Crete have joined the Tourism Development Ministry program «Competitiveness» on Greek cuisine promotion and the strengthening of firms for certification on Greek cuisine. The program is jointly funded by the European Regional Development Fund. Greek-Turkish conference Greek and Turkish entrepreneurs will participate in an economic conference to be held in Iraklion, Crete, on June 22-24 by the Iraklion Chamber of Commerce in association with the Izmir Hellenic-Turkish chambers. The conference will focus on sea, land and air transport, tourism and European projects. DriveMe Forthnet’s electronic roadmap, DriveMe, is now also available in English; log on to www.driveme.gr. The service covers all of Greece, with full street numbering in most major cities.
