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Greece

Greek economy swings back to growth in third quarter Q/Q, despite COVID

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ATHENS Greece emerged from its worst quarterly contraction on record to report 2.3% growth in output for the third quarter, aided by a tentative return to economic activity following the country's first coronavirus lockdown.

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Greece to spend big part of EU recovery funds on green, digital projects 25 Nov 2020

ATHENS Greece plans to spend more than half of the 32 billion euros ($38 billion) it will get from the European Union's recovery fund on green and digital transformation projects, its deputy finance minister said on Wednesday.

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Greece's Aegean Airlines reports third quarter loss as pandemic hits travel 24 Nov 2020

ATHENS Greece's largest carrier Aegean Airlines reported on Tuesday a 28.3 million euro ($33.6 million) loss for the third quarter as passenger traffic fell and aircraft were grounded during the coronavirus pandemic.

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Piraeus Bank profit drops on higher loan-loss provisions 23 Nov 2020

ATHENS Piraeus Bank, one of Greece's four largest banks, on Monday reported a sharp drop in third-quarter profit compared with the previous quarter on the back of higher loan impairment provisions and weaker trading income.

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Greece considers capital boost for Aegean Airlines, shares fall 23 Nov 2020

ATHENS Greece is considering a capital injection of around 120 million euros ($142.55 million) for Aegean Airlines, the government said on Monday, adding the nation's biggest carrier was crucial to the tourist-reliant economy.

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Exclusive: Alpha Bank picks Davidson Kempner as preferred bidder for £10.8 billion Galaxy bad loans - sources 20 Nov 2020

LONDON/ATHENS Greek lender Alpha Bank has selected U.S. investment fund Davidson Kempner as its preferred bidder to buy a $12 billion portfolio of non-performing loans in what will be Greece's largest-ever sale of bad debt, sources told Reuters.

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ECB supervisor rejects Piraeus request to pay CoCo coupon - source 13 Nov 2020

ATHENS The European Central Bank's supervisory arm has rejected a request from Greek lender Piraeus Bank to make a coupon payment on its contingent convertible bonds (CoCos), a banking source close to the matter told Reuters on Friday.

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Aegean quake toll rises to 116 as Turkey ends search 04 Nov 2020

ISTANBUL Turkey on Wednesday ended search and rescue efforts in the rubble of buildings that collapsed as a result of Friday's strong earthquake in the Aegean Sea, after the death toll crept up to 116 in the western city of Izmir and a Greek island. | Video

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Greek island goes electric with Volkswagen transport deal 04 Nov 2020

ATHENS Volkswagen will provide electric vehicles, charging points and ride-sharing services to a small island in Greece as the country looks at ways to build a greener transport system.

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Man rescued from rubble as Turkey quake death toll hits 62 01 Nov 2020

IZMIR, Turkey A 70-year-old man was pulled from the rubble of a collapsed building in the Turkish city of Izmir on Sunday, after being buried for 33 hours following a powerful earthquake which struck Turkey's Aegean coast and Greek islands.