- Minister of State Haris Pamboukis on Tuesday flatly rejected an Athens daily news report on the development of the state-owned real estate in Helliniko. Pamboukis , who holds the strategic investments portfolio, stated that the news report is untrue, stressing that Qatar never withdrew its interest, while Germany and the European Commission were never involved.
- The clothing/footwear sector is suffering mostly from a deep economic recession in the country, with a “free-fall” in sales continuing this year. Market executives expect a negative figure in turnover to continue in May and predicted that a decline in sales would total around 20 pct in the first five months of 2011. Antonis Makris, executive vice-president of the Association of Retail Sales Enterprises of Greece, told ANA-MPA that it won’t be a surprise if turnover fell 20 pct this year and stressed that “beyond a negative psychology, Greek consumers are hit by a shrinking income”.
- The Bank of Greece on Tuesday permanently revoked the license of the Eurostar insurance company and placed the company under liquidation. Eurostar is a smaller-sized insurance company with activities focusing on the damages and vehicle insurance sectors. BoG froze its assets in February after the company failed to submit a share capital increase plan.
- Eurobank EFG Mutual Funds Management Company topped the list of the domestic mutual funds management market with a market share of 23.31 pct, figures showed on Tuesday. A report by the Association of Institutional Investors said National Asset Management (17.07 pct), Alpha Asset Management (16.40 pct), Insurance Organisations Management (10.59 pct), HSBC (Hellas (4.08 pct) and Hellenic Postbank Asset Management (3.85 pct) were next on the list.