Greek betting firm OPAP's profit is expected to have more than halved in the second quarter, hit by a windfall tax the government imposed on businesses to shore up its ailing finances. Analysts polled by Reuters forecast group net profit of 60.5 mln euros on average against 155.5 mln in the year ago period, a
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Greece wants to shore up its banking system against the backwash of the country's debt crisis and has commissioned a study on how to go about it, reviving speculation that some of its lenders could merge. While Athens has so far been meeting its fiscal commitments, slashing the deficit at a fast pace, its banks
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Greece's biggest cement producer, Titan, is expected to post broadly flat year-on-year profit in the first half as improved sales in Egypt and the Balkans offset falling business in its home market. The average forecast of seven analysts polled by Reuters was for net profit of 61.3 mln euros. Sales are seen dropping 3.8% to
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Some investors who have heavily underweighted euro zone assets may have more reasons to change their mind in the coming week as the resilience of the region's economy contrasts with persistent hints of a U.S. double dip. Given a surprisingly robust economic performance, especially in Germany, investors are becoming more sanguine about the single currency
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. The EU foreign affairs chief will urge EU states next month to back trade concessions for Pakistan as worries grow about the impact of devastating floods on the stability of its fragile government. EU diplomats say support for such trade breaks appears to be growing, given Pakistan's strategic importance in the struggle against Islamist
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. With elections looming in many African countries, banks are likely to feel increasing political heat to cut sky-high lending costs but are unlikely to unleash growth-boosting cheap credit into their economies. Many countries on the poorest continent enjoyed annual expansion of 5% or more in the years up to 2008, and their leaders are
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Australia could have its first minority government in 70 years, a worst-case scenario for investors, with an election-eve poll showing the ruling Labor party drawing level with the conservative opposition. The vote looks so close, the result may have nothing to do with policy but simply come down to which leader, Prime Minister Julia Gillard
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World wheat price rises are not yet sufficient to trigger global food inflation, an economist at the UN Food and Agricultural Organization said on Friday, even though they almost doubled in the space of two months. A drought and heat wave in the Black Sea region, although declared to be over in Russia earlier this
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Russia will not import grain in 2010, an Agriculture Ministry spokesman said on Friday, adding that traders had been spreading rumours of imports to heat up the market. Analysts have said that Russia, the world's third biggest wheat exporter last year, will have to import millions of tonnes of grain for the first time in
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Nicosia District Court issued today a five-day remand order against the fourth suspect in connection with the murder of Managing Director of ''Dias'' media group Andis Hadjicostis, Gregoris Xenophontos. All objections and arguments put forward by the defence of the suspect were overruled by Judge Charalambos Charalambous. Quoting precedents in both Cyprus and British case
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