Investment

 NBG looks set to boost its assets by 400 mln euros and its capital adequacy ratio by 70 basis points

By Yiannis Papadoyiannis

National Bank of Greece is proceeding with the absorption of its corporate management subsidiary Ethniki Kefalaiou, as Kathimerini understands that the decision has already been approved at all corporate levels and will be immediately enforced.

Coca-Cola HBC (CCHBC), the world’s No 2 bottler of Coca-Cola Co drinks, plans to delist its shares held in American depositary receipts (ADRs) on the New York Stock Exchange next month, it said on Monday.

Greece’s biggest refiner Hellenic Petroleum (ELPE) said on Thursday it mandated Barclays Bank PLC and Credit Suisse Securities as global coordinators to issue a five-year bond.

This would be the company’s second debt issue since May, when it sold $400 million of bonds to improve its liquidity.

[Reuters]

Greece's biggest refiner Hellenic Petroleum said on Thursday it mandated Barclays Bank PLC and Credit Suisse Securities as global coordinators to issue a five-year bond.

Hellenic did not give any further details about the timing or the size of the bonds. This would be the company's second debt issue since May, when it sold $400 million of bonds to improve its liquidity.

Croatia, Macedonia and Bulgaria link their stock exchanges

Five conservative lawmakers have threatened to vote down an amendment designed to reverse wage and pension cuts imposed on Greek judges.

The Finance Ministry on Tuesday submitted to Parliament an amendment abolishing cuts to judges’ salaries and pensions that have been enforced since August 2012 as part of troika-imposed reforms.

The move came a day after a court ruled that retroactive cuts imposed on the pensions of judicial officials were unconstitutional.

By Christina Kopsini

The Greek social security system is a ticking time bomb. Excluding the seamen’s and farmers’ pension funds (NAT and OGA respectively), the reserves of the rest don’t even top 4.5 billion euros, which is not enough to fund pensions after 2016, when the problem will explode.

Friday’s June triple witching and a sudden interest expressed by foreign buyers in the week’s very last hour of trading took the Greek bourse’s benchmark above 1,300 points and its weekly gains close to 3 percent.

Businesses in the region to benefit from European Bank investment