ECONOMY

No plans for casino in Qatar agreement

Regional Development and Competitiveness Minister Michalis Chrysochoidis is pictured yesterday addressing an Arab-Greek economic forum in Athens which winds up today. The government was busy denying press reports yesterday that a 5-billion-euro investment memorandum signed with Qatar in New York on Thursday will involve the construction of a casino in the beachside district of Elliniko. Government spokesman Giorgos Petalotis said there were no plans to turn the area into ‘Las Vegas.’ Press reports indicated that a casino would devalue other properties in the suburb, while the government responded by saying that no specific projects are outlined in the deal. Analysts welcomed the announcement, saying Greece definitely needed positive news on the investment front. ‘All types of investments should benefit Greece at the current time of fiscal concerns,’ Kyprou Securities wrote in a note.