In Brief
NBG sells stake in Hellenic Exchanges National Bank of Greece yesterday sold 3.56 million shares in Hellenic Exchanges to institutional investors at 22.50 euros a share, it said in a stock market filing. The placement, via an accelerated book building, met with strong demand, the bank said. A total of 3,559,961 shares in Hellenic Exchanges, the operator of the Athens stock and futures markets, was sold. Credit Suisse and NBG International were joint bookrunners. (Reuters) EU states face court for bluefin tuna overfishing BRUSSELS (Reuters) – The European Union executive launched legal action against seven member countries yesterday for failing to protect fisheries of the endangered bluefin tuna. The European Commission said it could take Greece, Malta, Portugal, Spain, Italy and France to the European Court of Justice for «failing in their obligation to send catch data.» Lira at new high Turkey’s lira currency hit a key level of 1.22 against the dollar in after-hours trade yesterday, firming more than 1 percent from Tuesday’s close to a fresh six-year high. «Dollar weakness is going to continue… (The lira’s moves) will depend on global sentiment,» said one trader. Istanbul’s main stock index took its cue from European bourses, ending up 2.56 percent at 54,245.83 points. Turkish lira bonds also firmed yesterday as the yield on the May 6, 2009 benchmark paper fell to 16.64 percent from a previous 16.84 percent and traders welcomed news the Treasury was issuing a 2018 dollar-denominated bond. (Reuters) Koc investment plans Turkish conglomerate Koc Holding targets investment of around $1 billion in 2008, CEO Bulent Bulgurlu told reporters yesterday. He said investments would be aimed at increasing capacity at all its companies. Koc, which has said it is looking at selling its supermarket chain Migros, has businesses ranging from lender Yapi Kredi to white goods maker Arcelik and oil refiner Tupras. (Reuters) Turkish imports Turkey’s total imports are expected to reach $160 billion this year, Trade Minister Kursad Tuzmen said yesterday. He also said the country’s imports of natural gas and crude oil would total $35 billion this year. Turkey is dependent on gas and oil imports to meet rising energy demand in the country, which has grown sharply in the wake of a 2001 financial crisis. Last year, gas and oil imports amounted to $28.55 billion. «We expect that imports will reach $160 billion this year. Exports this year are expected to be $100 billion,» Tuzmen said in a speech. (Reuters) Cyprus bank credit Bank credit in Cyprus increased in August 29 percent year-on-year to 14.07 billion Cyprus pounds (US$34.3 billion), according to central bank figures published yesterday. Total credit grew in August by 229.5 million Cyprus pounds compared to 214.9 million Cyprus pounds in July, mainly as a result of an increase in credit for trade purposes, the figures showed. A recently introduced reduction in the ceiling on holiday home buyers showed a fall in construction- and housing-related loans. (Reuters)
