AGET Iraklis

A prominent Greek businessmen, who was permanently residing in Switzerland, was found dead in his luxury home near Zurich on Monday, but the cause of death remains unknown pending a coroner's report.

Swiss authorities were investigating the cause of Manolis Kyprianidis's death as, according to reports, it was not clear whether he was murdered or had committed suicide.

The European Court of Justice (ECJ) issued a verdict on Wednesday on the case of Greek cement producer AGET Iraklis that indirectly called for a change in the law on group layoffs in Greece.

A Greek law forcing employers to seek government approval for mass layoffs is too vague and violates European Union laws, the EU's top court ruled on Wednesday, potentially complicating Athens's stance in talks with international lenders.

By Nikos Roussanoglou

Construction has been hit harder than all other economic sectors during the Greek crisis years, with its added value dropping 78 percent within five years, while one of the biggest local firms, Michaniki, has just been forced into administration.

The Supreme Court on Friday ordered cement company AGET Iraklis to pay 78,000 euros in compensation to 26 residents of Aghia Marina in Halkida after ruling that the firm’s factory caused pollution in the area.

In their suit, the residents claimed that the company did not take the necessary steps to ensure that the environment was not damaged and that their health was not put at risk.

By Anestis Dokas

OTE telecom’s exit from the Athens Stock Exchange next year has emerged as a likely development that would leave the local bourse even poorer in capitalization terms.

OTE chief executive Michalis Tsamaz stated a few days ago in Barcelona that parent company Deutsche Telekom may acquire an additional 10 percent stake in the Greek telecom provider.