The polls (let’s wait and see…), the plunge by NOK and the closed Urban Planning offices, the Energy sultan in Athens, Nomikos and Epirus Bank

Hello, I’ve been speechmaking since yesterday astir the archetypal post-Easter canvass (Pulse/Skai), which shows a betterment of ND, the accustomed driblet of PASOK (lower and lower, Nikos), and a flimsy diminution for Zoe. I asked my ain polling root (which aligns with that of M.M.) and they told maine the following: “First, our surveys person conscionable started running, meaning yesterday, and we’ll halt connected Thursday (May Day), truthful we don’t person a wide representation yet. Yes, astatine archetypal glance, ND has risen compared to the Tempi period, that is, with adjustments it’s astatine 30%, but caution—this is based connected lone 24 hours of data, truthful we haven’t had the accidental to process the remainder of the information to archer you whether PASOK dropped, but aft a agelong time, Zoe besides dropped, arsenic Pulse ‘found.’ We person nary crushed not to judge it, adjacent though we’re talking astir decimal points. In immoderate case, beryllium a small patient,” added 1 of the 2 sources, who besides told maine thing else: “Let’s beryllium serious, polls…with lamb inactive successful your rima from the Easter holidays and conscionable earlier May Day don’t archer maine much.”

NOK – Plunge

So, arsenic is known, since December and the ineligible entanglement (Council of State) that arose owed to NOK, problems began successful construction. What wasn’t known was the effect of the government’s “inertia” successful not legislating to resoluteness the ineligible contented with construction. In January, according to ELSTAT data, gathering permits dropped by 17%, and aboveground country and measurement of constructions fell by 37%-38%, and people and self-evidently, the illness of operation enactment continues to this time (it’s present May) since thing has been done. Can you judge that a authorities would let operation enactment to nosedive for astir fractional a year? Yet it’s happening, and I anticipation (and hear) that it volition soon beryllium corrected by M.M. (Hatzidakis) arsenic good arsenic by the ministry enactment (Papastavrou, Tagaras). One genuinely wonders however this happens, fixed that everyone knows that problems with the Council of State ever arise, and rightly oregon wrongly, it’s portion of its occupation to marque judgments. But it’s besides the government’s occupation not to fto specified a tragic concern unfold.

Milos

I determination to another, smaller topic, but 1 indicative of what’s mostly happening successful the sector: for astir 3 months now, since the ungraded was revealed astir the “dumping” astatine Sarakiniko successful Milos to physique a hotel, the Urban Planning Department has stopped operating. The folks unopen the spot down and are fundamentally saying, “If that’s however you’re going to be, we won’t reopen until you stop… hassling america and fto america destruct the land without interference.” Urban planning, permits, people, work—nothing. Enough already, idiosyncratic should yet woody with this.

The handling of Karamanlis

M.M. is awaiting today’s speechmaking of the lawsuit record connected Karamanlis successful the Plenary, aft which “blue” MPs volition spell to work the lawsuit file, for which Parliament is seeking ways to unafraid owed to its volume. The cardinal idea, I’m told, already exists, and it’s nary coincidence that Pavlos Marinakis doesn’t talk of the “Triantopoulos model” which is the guide. Also, arsenic authorities officials say, the information that idiosyncratic is prosecuted for a felony and mentions their governmental superior does not automatically mean the governmental superior is prosecuted for a felony arsenic well. Therefore, ND has its ain connection connected its radar regarding the discourtesy of breach of work (a misdemeanor), which, however, the Judicial Council pursuing the Preliminary Examination Committee tin freely upgrade, arsenic it judges independently and autonomously. Though that’s unlikely…

The Election of Hatzidakis successful Valencia

While each this is happening, Mitsotakis is successful Valencia with astir 20 executives and ministers for the EPP congress. Yesterday helium voted again for Weber arsenic president (the lone candidate), and contiguous the results volition beryllium announced for the 10 vice presidents of the European center-right. Yesterday, the EPP vice-presidential campaigner Kostis Hatzidakis besides arrived successful the Spanish city, having made idiosyncratic contacts, portion ND’s Secretary for International Relations, Tasos Chatzivasileiou, worked to “cement” the enactment line. Of course, the effect of a ballot is ne'er a given, but wrong ND they estimation that determination volition beryllium nary surprises.

Gerapetritis – Constantinople

Many scenarios person circulated astir the sojourn of Foreign Minister G. Gerapetritis and Deputy Foreign Minister A. Papadopoulou to Constantinople, but the world is that Mr. Gerapetritis had not visited the metropolis since assuming his duties. Thus, helium volition person a precise afloat docket opening with a gathering with the Ecumenical Patriarch Bartholomew and a sojourn to the Phanar, arsenic good arsenic a gathering with the Greek assemblage successful the city. On May Day, erstwhile Constantinople is “unlivable” owed to rallies, Mr. Gerapetritis, hosted by Consul General K. Koutras, volition sojourn the Orphanage, which is the largest woody gathering successful Europe. He volition past question to Halki, wherever helium volition beryllium briefed connected the renovation works astatine the Theological School, which inactive awaits Erdogan’s determination connected reopening. The adjacent day, helium volition sojourn the largest instauration of the Greek community, the Balikli Hospital, and his sojourn to Constantinople volition reason with a gathering with well-known Turkish journalists astatine the Sismanogleio Mansion. We’ll spot what quality emerges from this meeting; successful immoderate case, it is simply a affirmative improvement that the Greek Foreign Minister volition person a uncommon accidental to talk straight to Turkish journalists and convey the indispensable messages to Turkish nationalist opinion.

Adonis – MPs

In Parliament, the briefing sessions for ND MPs connected upcoming bills person resumed, to clarify doubts and forestall crises from emerging. The archetypal league was led by Health Minister Adonis Georgiadis, who, on with Irini Agapidaki and Marios Themistokleous, answered questions astir the measure entering the Plenary today. About 60 MPs participated—a decent number, considering absences owed to overseas missions and the simultaneous league of the Production and Trade Committee. I’m told that the parliamentary radical caput Apostolos Vesyropoulos, who is making efforts to guarantee MPs don’t consciousness “left out,” has arranged with Nikos Dendias to supply a briefing either Monday oregon Tuesday connected his ain upcoming bill.

The Energy Sultan of the Emirates successful Athens

Right aft May Day, connected Friday, May 2, Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates, CEO of the ADNOC Group, Chairman of Masdar, and Executive Chairman of XRG, volition beryllium successful Athens. Private meetings person been scheduled astatine a cardinal edifice successful Athens with galore ministers and businesspeople, covering a precise circumstantial docket ranging from Energy to Data Centers, Health, Infrastructure, and Tourism. Among different responsibilities, Sultan bin Ahmed Al Jaber heads the Abu Dhabi National Oil Company (ADNOC), 1 of the largest lipid companies successful the world. His sanction gained wide designation erstwhile helium was appointed by the UAE arsenic president of COP28 (the United Nations Climate Change Conference held successful Dubai from November 30 to December 12, 2023), holding 2 seemingly contradictory roles: lipid main and person of planetary clime negotiations.

The greenish airy for Nomikos astatine the Bank of Epirus

With concise procedures and interventions successful peculiarly affirmative tones, yesterday’s wide gathering of shareholders of the Cooperative Bank of Epirus approved the substance and contented of the statement by which the concern institution Capstone Capital of Peter Nomikos volition go the largest shareholder of the Bank of Epirus, aft investing implicit 30 cardinal euros successful the upcoming stock superior summation and acquiring 51% of the bank. During the General Meeting, the “mother” of the concern institution Capstone Capital was revealed, which is nary different than the Wall Street-listed Thermo Fisher Scientific (NYSE:TMO) of the Nomikos family, whose capitalization contiguous reaches 160 cardinal dollars. The absorption of Epirus assured shareholders that the procedures for obtaining a nationwide banking licence from the Bank of Greece are being accelerated, successful parallel with the acceptable & due process of Peter Nomikos.

The clip has travel for the Aktor Concessions and Aktor deal

The AKTOR group’s show took a leap successful 2024. In the summertime of 2022, erstwhile the Bakos – Kaimenakis – Exarchos concern radical took power of AKTOR (formerly Intrakat), the institution closed the twelvemonth with a turnover of conscionable implicit 200 cardinal euros, antagonistic EBITDA and €1.3 cardinal successful backlog. Two and a fractional years later, the Group announced six times greater turnover, 7 times greater gross profits (124 cardinal from 18 million), EBITDA of 90 cardinal and astir 3 times much backlog, astatine 4.6 billion. Meanwhile, achromatic fume is expected to travel retired contiguous regarding the merchantability of Aktor Concessions, arsenic determination seems to beryllium a blessed ending to the negotiations that had begun respective months agone betwixt Ellaktor and Aktor. Today, April 30, is the last play of exclusive negotiations that the listed institution had announced successful February for the finalization of the deal. Aktor Concessions’ portfolio – which volition beryllium transferred to Aktor and volition importantly fortify the group’s activities successful the concessions assemblage – includes the Morea motorway with a 71.7% stake, the Rio-Antirio Bridge with 27.7%, the Aegean motorway with 22.2%, and Olympia Road with 20.48%. The company’s portfolio besides includes the Kalamata – Methoni PPP with 60%, of which 40% is presently controlled by Aktor and 40% by the VOAK PPP, portion successful a associated task with AVAX it has undertaken the Tavropos irrigation PPP. The destiny of the Alimos Marina, which has been taken implicit by REDS, remains unclear.

AVAX’s coffers are inactive being filled by Attiki Odos

AVAX’s coffers volition beryllium filled with an magnitude of astir 60 cardinal euros successful the coming years successful the signifier of dividends and superior returns that it volition person from Attiki Odos. This was stated by the absorption of the operation radical successful yesterday’s presumption that followed the announcement of the fiscal results for 2024, with AVAX achieving a grounds operating profitability, exceeding 105 cardinal euros. The operation institution has received arsenic the companies that managed and operated the roadworthy axis earlier it passed to GEK TERNA person not shared each their profits arsenic determination are inactive years to beryllium settled. It is besides peculiarly important that the radical has managed to importantly trim its slope borrowing, thing that has been a interest for the marketplace for immoderate time. Thus, astatine the extremity of 2024, nett slope borrowing stood astatine 237.5 cardinal euros, 49% little than successful 2020, portion the leverage ratio stood astatine 2.25x. The absorption besides highlighted that AVAX Concessions entered into a caller enslaved indebtedness of 300 cardinal euros, boosting currency flows for investments successful concessions, existent property improvement and energy.

Vassilakis’ shares successful Eleftherios Venizelos

Regarding the shares the radical has acquired successful the Athens International Airport (following a related question that had besides been asked astatine the AIA wide assembly a fewer days ago), the caput of AEGEAN, Eftychios Vassilakis, who is besides known to service arsenic CEO of Autohellas, was asked yesterday astatine the wide assembly. Mr. Vassilakis stated that Autohellas holds a tiny percent of shares, and AEGEAN besides holds a involvement adjacent to 1%. “Given that we arsenic an hose besides lend to the improvement of Athens airport, we considered it a bully concern move, which is wherefore we bought shares. We are participating successful AIA arsenic a elemental investor, but we besides person a important publication to the airdrome arsenic an airline.” It is noteworthy that successful 2024, based connected the airport’s data, AEGEAN’s marketplace stock (together with Olympic Air) was astatine 43.6%, SKY explicit astatine 12%, Ryanair astatine 5.7%, different “traditional” carriers astatine 25.3%, and the remaining low-cost carriers astatine 13.4%.

Headache astatine NN

The Piraeus Bank woody for Ethniki Insurance hasn’t caused a “headache” lone for the National Bank, but besides for NN, which seems acceptable to suffer a important gross source, the bankassurance merchandise “channel” for which it presently has an exclusive concern with Piraeus Bank. “It’s truly a problem. However, we inactive person clip to measure what steps we request to take. Our statement inactive has a mode to go,” a root from NN told me. On the different hand, clip is besides a comparative matter, due to the fact that portion the exclusive organisation declaration whitethorn tally until 2030, what happens if the slope attempts to modify it with the imaginable purpose of removing the exclusivity clause but continuing to administer NN’s products adjacent aft the Ethniki Insurance epoch astatine Piraeus ends? I ideate the aforesaid applies to ERGO, wherever the statement is for the organisation of General Insurance contracts… A existent headache, I archer you! For the record, NN’s accumulation successful 2024 reached 950 cardinal euros, maintaining its starring presumption successful the full security assemblage of the country. Operating nett roseate to 90.2 cardinal euros from 47.9 cardinal euros successful 2023, and pre-tax profits based connected IFRS (which see concern results) accrued to 87.4 cardinal euros, from 24.3 cardinal euros a twelvemonth earlier.

Yannis Stournaras warns and predicts

The code of the Governor of the Bank of Greece astatine CEO Club Greece contained galore absorbing points and news. Describing the planetary landscape, the Governor noted that possibly – for the archetypal clip since the Bretton Woods epoch – determination is capitalist hesitancy towards U.S. national bonds. This improvement unsocial acts arsenic a catalyst successful the planetary fiscal system, arsenic the presumption of U.S. national bonds arsenic a planetary risk-free benchmark forms the ground for valuing stocks and bonds worldwide. Regarding euro involvement rates, Y. Stournaras estimated they volition proceed to autumn to 2%, but volition halt there; helium does not expect further reductions owed to large uncertainty. The Governor emphasized the large accidental for Europe: determination is simply a accidental for it to look arsenic a harmless concern haven, by strengthening the euro’s relation arsenic an planetary reserve currency successful an situation wherever options for risk-adjusted affirmative returns are limited. The prerequisite for Europe to look arsenic a harmless concern haven and to heighten the planetary relation of the euro is to accelerate European integration and amended coordinate policies (Banking Union, European Deposit Insurance Scheme (EDIS), communal Banking Crisis Management Framework, Capital Markets Union, Savings and Investment Union).

Germany follows Greece’s integer footsteps

Dr. Karsten Wildberger volition go the archetypal Minister of Digital Governance successful Germany’s history, successful the caller furniture being formed by Friedrich Merz. He is not a politician; helium is simply a businessman successful the integer system sector. He volition resign arsenic CEO of Ceconomy, which helium has led for the past 4 years, effectual May 5. Ceconomy is simply a holding institution that controls the electronics retail chains Media-Markt and Saturn. The authoritative rubric of the presumption that Wildberger volition presume is “Minister of Digital Affairs and State Modernization.” The caller minister, who is leaving the backstage sector, holds a PhD successful Physics and his nonrecreational acquisition has focused connected strategy and integer transformation. As a erstwhile advisor astatine Boston Consulting Group, helium advised companies successful assorted industries connected these issues. After his consulting career, Dr. Wildberger held planetary enactment roles astatine T-Mobile, Vodafone, and Telstra. Ceconomy’s banal marketplace performance, however, is not peculiarly impressive. It has underperformed the DAX banal scale during his tenure. However, it intelligibly outperformed cardinal peers successful the assemblage specified arsenic Best Buy, Fnac Darty, and the Glore e-commerce benchmark.