Business
Greece faces slow, jobless recovery next year
Written by Elena Becatoros and Nicholas Paphitis
ATHENS (AP)—Greece's deep, six-year recession is likely to end in 2014, but growth will be weak and unemployment will remain above 20 percent for another three years, the country's international debt inspectors said. The European Commission issued the gloomy predictions in a 237-page assessment of Greece's bailout agreement, as the country formally received its latest emergency loan payout, worth 4.2 billion euros ($5.4 billion).
Jamie Dimon under pressure ahead of investor vote
Written by CHRISTINA REXRODENEW YORK (AP) — Jamie Dimon, chairman and CEO of the biggest U.S. bank, faces a key test this week: His shareholders are voting on whether to let him keep both jobs. It's been just more than a year since his bank, JPMorgan Chase, revealed a surprise trading loss that tarnished its usually stellar reputation in Washington and on Wall Street, and what a difference it has made. Shareholder groups are calling for the bank to strip him of his chairman job, a move that would be a bruising referendum against a man who's normally chieftain even among other big-bank CEOs.
Visit to China 'absolutely successful', government source
Written by ANA-MPASHANGHAI—Prime Minister Antonis Samaras' official visit to China with a delegation of ministers and business repre-sentatives, which wrapped up Saturday (Greek time), was "absolutely successful," according to a government source summarising the results of the trip. Chinese railways and container giant COSCO, the latter already active in the port of Piraeus, will participate in the privatisation of TrainOSE, Chinese businesses are interested in the Athens International Airport and a Chinese group is interested in regional airports, the source said.
BATON ROUGE —Prominent Greek American John D. Georges, CEO of Georges Enterprises and the Georges Media Group, purchased The Advocate, one of the nation’s oldest and largest local daily newspaper and digital media outlets that currently serves the Louisiana communities of Baton Rouge, New Orleans, Lafayette and surrounding parishes. The Advocate was first published as a weekly in 1842 and has a daily average circulation of daily households and 500,000 daily unique digital visitors.
PM Samaras and cabinet members gearing up for China trip
Written by ANA-MPAPrime Minister Antonis Samaras and members of his cabinet made final preparations for an official visit to China starting Wednesday, as the prospect of extending bilateral cooperation with major agreements in the leading sectors of shipping and tourism, and in the turning the main port of Piraeus into a major hub of commerce in Europe with the help of China-based container company COSCO, will be on the agenda.
Poll shows favorable views of EU in sharp decline
Written by Don MelvinBRUSSELS (AP)— Positive views of the European Union by its citizens are near all-time lows. And no EU country is plunging faster into the abyss of gloom than France. Germans are broadly perceived as being the most trustworthy Europeans — but also the least compassionate. Britons, often seen as deeply skeptical of the benefits of EU membership, are in fact split right down the middle — 46 percent to 46 percent — over whether to leave the union or stay in it.
Winners of the Hellenic Entrepreneurship award 2013 announced
Written by GuestATHENS—The Hellenic Entrepreneurship Award today announced the four winners for 2013 who will receive business start-up funding as well as mentoring and business support services. Funded and administered by the Libra Group on behalf of The Hellenic Initiative (THI), the Hellenic Entrepreneurship Award helps Greek entrepreneurs to overcome economic barriers and pursue innovative business plans.
IOCC Receives $1.5 Million Gift To Advance Clean Water Access In Africa
Written by IOCCBALTIMORE—International Orthodox Christian Charities (IOCC) announced the establishment of the Katherine Valone “St. Photini” Water Program to advance projects that provide safe, healthy and reliable water resources to communities in need in Africa. The $1.5 million gift, the largest single private donation in the history of IOCC, was a bequest from the late Katherine Valone, a retired Chicago schoolteacher with a lifelong desire to provide clean water to the people of Africa.
New programme to place 10,000 in tourism sector to open
Written by ANA-MPAA new programme offering 10,000 positions for young people in tourism, with training and placement at businesses, was presented jointly on Thursday by Labour, Social Insurance and Welfare Minister Yiannis Vroutsis, Tourism Minister Olga Kefalogianni, and president of the Association of Greek Tourism Enterprises (SETE) Andreas Andreadis.
Greek finance minister: Economic recovery in sight
Written by Elena BecatorosATHENS (AP)— Greece's recession-wracked economy should start recovering from next year and its sky-high unemployment rate should edge lower from the end of 2014, the country's finance minister said in an interview broadcast Thursday. Speaking on state-run NET television, Yannis Stournaras said the government's aim was to achieve a primary surplus—a surplus without taking into account interest payments on outstanding debt— by the end of this year.
