New power company to be carved out of Public Power Corp and sold to investors, as part of privatization plans of Greece’s largest electricity provider, will have total production capacity of 2,690 MW, Kathimerini newspaper reports, without citing anyone.
Hellenic Seaplanes S.A., a new airline set to start flying tourists between Greek islands this summer, forecasts that sea-based commercial carriers could generate 1 billion euros ($1.4 billion) in annual revenue as European travelers return to a country emerging from recession.
Greece wants to triple the share of generic drugs prescribed by the end of next year, closing the gap to targets set by international creditors under the terms of the country’s bailout, Health Minister Adonis Georgiades said.
Greece’s lenders need to boost their capital by 6.38 billion euros ($8.84 billion) after six years of recession and the country’s financial crisis left them with swelling bad loans, the central bank said.
The International Monetary Fund wants a greater say in the fate of Greek banks because it’s worried that the European Central Bank is being too lenient on them, three people with knowledge of the matter said.
European stocks plunged the most in more than a month, retreating after reaching a six-year high last week, as investor concern increased that the escalating tension in Ukraine will hurt corporate earnings.