Business Briefs

-REDS - a listed real estate developer - on Tuesday said it has invested around 75 million euros in the development of a "Smart Park" commercial park, located east of Athens proper and near the international airport.

- Greek banks continued suffering from a trend of capital outflows, which began last year, with the value of savings deposits by enterprises and households falling by 4.9 billion euros in May, the Bank of Greece announced on Tuesday.

- The Association of Athens-Attica Hoteliers on Tuesday urged the government to approved a series of specific and fundamental measures aimed at supporting hotels located in the country’s capital to overcome losses suffered as a result of violent street protests late last month.

- Greece's clothing industry is shrinking at a dramatic pace this year, after the sector suffered losses in 2010, a report stated on Tuesday.

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