Economy Ministry

Only one offer, from Cypriot company Inter-M Traders, was said to have reached KPMG, which is conducting the tender for an investor in Elefsis Shipyards on behalf of the overindebted shipbuilding group and creditor bank Alpha, in cooperation with the Economy Ministry.

US firm NCH Capital has received the necessary approvals from the Economy Ministry for its investment plan concerning a five-star hotel it intends to develop in the Erimitis area of Corfu (pictured) and is hoping the construction license will be issued soon so work can get under way during 2019.

The timetable of the 120-million-euro project provides for the hotel to open in 2021.

An Economy Ministry bill seen by Kathimerini will extend the national section of the Public Investments Program (PIP) from one to five years and place it under public scrutiny.

The bill, which will go to Parliament next year, will be announced in the coming days by Economy Minister Yiannis Dragasakis during his speech in Parliament at the debate on the 2019 budget.

The Economy Ministry and the European Bank for Reconstruction and Development (EBRD) are promoting alternative ways to finance small and medium-sized enterprises and support the Greek stock exchange, which has experienced a flurry of delistings in recent years.

The introduction of local products of Azerbaijani to international markets is boosting the non-oil sector of country's economy and strengthens business ties with foreign countries. Therefore, Azerbaijan is organizig a number of export missions to foreign countries in order to promote national products, reports AzerNews. 

The Greek government is expected to decide whether to impose a price cap on fuel prices on the islands at the start of next week.

Greece's Regulatory Authority for Energy (RAE) reportedly called on the Economy Ministry to impose a nationwide price cap on fuel prices through an automatic activation mechanism during a meeting on Tuesday. The ministry, however, is said to disagree with the move.

The Economy Ministry taking over the majority package of Mangalia Shipyard represents an important success of the Romanian state, PM Viorica Dancila said on Tuesday.

Turkey attracted some $3.1 billion in net international direct investment from January to April, a 22 percent year-on-year decline, the Economy Ministry announced on June 21.

Car owners in the Balkans are fuming over the rising price of fuel and threatening to protest this month, piling pressure on governments to rein in costs to consumers who fear a knock-on effect on the price of food and other goods.

Oil prices hit three-and-a-half year highs last month, twice topping $80 per barrel and pushing up prices at fuel pumps.