Greece

Fitch Ratings has revised Greece’s outlook to “Positive” from “Stable”, although it kept the country’s rating at “BB”, two notches below investment grade. The credit ratings agency in a report issued Friday (Jan. 14) raised its estimate for Greece’s economic growth in 2021 to 8.3%, much faster than the 4.3% forecast in the previous rating review last July. “We expect the recovery

Greece’s ATHEX Group and Sofia’s bourse inked a deal for the admission to trading, clearing and settlement of Bulgarian derivatives. The scope of the agreement includes the introduction of single stock futures having as underlying selected stocks traded at the Bulgarian Stock Exchange (BSE) and index futures, having as underlying the blue-chip index of the BSE, the SOFIX, which tracks the performance

Athens-listed Alpha Bank, one of the leading Groups of the financial sector in Greece, has agreed to sell its Albanian subsidiary to Hungary-based OTP Bank. The Hungarian lender will pay 55 million euros ($62.05 million) to buy a 100% stake in the asset, Alpha Bank said on Monday (Dec.6). With a total asset-based market share of almost 5%, Alpha Bank is the

Greece-headquartered Hellenic Petroleum S.A., one of the largest oil companies in Southeast Europe, announced on Wednesday (Nov. 24) that its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at 264 million euro ($296 million) in January-September 2021, up by 3% compared to the same period a year ago. The Athens-listed company’s sales grew 43% year-on-year to 6.4 billion euro, Hellenic

Athens-based industrial conglomerate Mytilineos S.A. through its Renewables and Storage Development (RSD) Business Unit has signed an agreement with Enel Green Power Romania SRL, part of Italy’s Enel Group, for the sale of approximately 90MW solar portfolio in Romania, consisting of two solar farms, planned to achieve commercial operations by the end of 2022 / beginning 2023. The projects are developed in

The Athens Stock Exchange (ATHEX) has been given the green light by the Securities Commission of Republic of Serbia to acquire a 10.24% stake in Belgrade Stock Exchange (BELEX). The operator of Greece’s stock and equity derivatives markets did not say how much it will pay for the stake in BELEX. The two bourses are joining forces to strengthen their presence in

The Organisation for Joint Armament Co-operation (OCCAR), has contracted a consortium of Athens-based Theon Sensors S.A. and Frankfurt-listed Hensoldt for the production and delivery of Binocular Night Vision Goggles (BNVG) under the Night Vision Capability Programme which offers the possibility for EU and non-EU countries to join via an established process. The first phase alone will amount to a high two-digit million