The punching bag at ELTA, the hidden ministers and the truth, the day of judgement for OPEKEPE, OTE’s big deal, Pappas, Oikonomou, Martinos (shipping news)

Hello, the serial with ELTA continued yesterday morning-afternoon wrong the authorities walls, contiguous it volition determination to Parliament, wherever it volition beryllium discussed successful the competent committee, successful the beingness of MPs of each parties. About 50 bluish MPs yesterday, then, successful a teleconference successful which the curate of Digital Policy participated — I was grazing the sheep implicit present a spot further distant — and 1 miserable CEO (ELTA) named SkliKas, became the punching bag. Whatever resentment provincial MPs had against M.M and the government, they took it retired connected a — successful my presumption — kinda ridiculous subject. As if they don’t cognize ELTA has been dormant for a agelong clip and each that is needed is cautious connection handling. Neither the postmen volition vanish from the villages nor grandmas volition not beryllium capable to wage electricity. We said these besides yesterday, but you see, six years of governing without ministry is simply a batch for a bulk MP. And particularly erstwhile it’s imaginable helium whitethorn not beryllium reelected successful his constituency — what, helium should larn different commercialized present successful aged property than the… bluff of politics! So, to finish, ELTA should person been modernized 10 years agone and not beryllium paid golden until today. Basically, erstwhile determination was interest, the State should person unloaded them. Even Petsas is shouting contiguous because, helium says, the station bureau successful Dionysos volition shut!

And the ministers…disappeared!

But sorry, for ministers besides to vanish and not withstand a clash with nine (the spoiled broadside of it) oregon with their chap MPs is not precise honorable. Moral: The authorities six years present succeeded successful galore things and achieved rather superior reforms. When, though, the clip of clash came connected a subject, it ever stepped back. Only connected cheery couples it didn’t measurement backmost — and of people paid for it dearly. Well then, constitute it down: if you spot ELTA truly closing, bent bells connected me.

Hatzidakis

Hatzidakis yesterday had a discussion, I’m told, with K.M and complained heavy that they load connected him ever the soiled work. Well that’s wherefore helium went determination — truthful the premier curate doesn’t pay. I deliberation that, generally, 2025 is not 2019 and Maximos is simply a antithetic thing. So, it needs antithetic plan — but these are their problems.

What the information is

Now, to recognize how… acold this full happening is from reality, spot what applies contiguous for ELTA services and volition proceed to use and what they mean to change. A elemental speechmaking of this substance proves that this is simply a colossal connection blunder oregon incompetence of ELTA management, that they ne'er “shouted” these things, truthful that everyone understands that neither the postmen who service are being fired, nor the shops are closing and not replaced. Which nonstop services are done present successful the stores and which by the carnal postman astatine home.

Services performed wrong stores

1. Posting and receiving postal items and parcels
2. Bill postulation (DEI, EYDAP etc.) and accelerated payments
3. Pension Account transactions (withdrawals, deposits)
4. Issuance and redemption of postal wealth orders
5. Banking transactions and Western Union

1,2,3 are performed by the bearer astatine the citizen’s doorway today. 4 is simply a substance of strategy hold and 5 tin beryllium implemented aft changes successful the organization framework.

Mountain villages and islands

How bash we guarantee citizens successful distant areas – particularly islands and mountainous – volition not beryllium near without carnal store until the caller operation is afloat operational • Already 92% of pensions and 90% of postal items are delivered astatine location by postmen. • No country without entree – work via agrarian postmen, location services and cooperating agents. • Deliveries with cognition of section communities – continuity of work without interruption. • Phase B of program – gradual implementation with afloat accusation to citizens for alternate solutions. • No interruption of work – continuity via postmen, agents, supermarkets and location services.

OPEKEPE – Commission

For OPEKEPE you cognize grosso modo. Today the Greek program volition beryllium submitted to the Commission, which successful world has been shaped successful statement with Brussels. The Commissioners volition present survey it for a fewer days and much (positive news) we volition perceive connected Thursday, erstwhile the competent Commissioner Christoph Hansen comes to our places.

Kimberly’s 20 minutes with Tasoulas

Today astatine noon, U.S. Ambassador Kimberly Gilfoyle volition formally contiguous her credentials to President Tasoulas. Together with her 2 much ambassadors are sworn successful — the Norwegian and the Canadian. Kimberly volition beryllium the 3rd to participate the Presidential, logically aft 12:30. She volition present to Tasoulas the folder with the authoritative documents and, arsenic usual, they volition beryllium for 15-20 minutes successful the ceremonial hallway of the Presidency to accidental a fewer archetypal acquaintance words. Now, if Tasoulas volition speech to her astir the mountains of Epirus and invitation her to his places, I don’t cognize — but I hazard the estimate.

“Greece volition sorb 75% of RRF funds”

We inactive person clip up truthful estimates are risky, but not truthful overmuch clip that they are impossible. We notation to the absorption estimates of RRF funds. The file stands connected this circumstantial estimation due to the fact that it comes from wrong the absorption mechanics and from a idiosyncratic highly experienced successful that field. Unfortunately though due to the fact that these radical usually collaborate for their jobs with the governments successful bureau they ever talk anonymously. After I explained past wherefore the file gives value to the circumstantial source, to proceed saying helium supported that 75% of RRF funds are expected yet to beryllium absorbed by our country. He added it’s not lone our state that volition amusement “deficit” arsenic acold arsenic absorption due to the fact that owed to the analyzable bureaucratic process, the mentation that the projects request connected the concern broadside for submission of folders, successful the extremity astir each — if not each — EU countries volition not negociate to sorb the funds until 2026. By the aforesaid estimate, funds not absorbed volition not spell wasted due to the fact that it is estimated they volition beryllium channelled towards the defence sector. If the estimation is verified, the absorption volition surely lament and wail for the nonaccomplishment of government, the enforcement state, etc.

Millenium Capital reduced abbreviated positions successful METLEN

Rise to 44.42 euro was noted yesterday by METLEN stock. Meanwhile a simplification of abbreviated positions was recorded successful the banal of the group, arsenic Millenium Capital Management announced that connected 30/10/2025 it had a abbreviated presumption 0.883% vs 0.92%.

OTE is going for large woody with COSMOTE TOWERS (is ace dividend coming?)

For immoderate clip present successful OTE they had started preparations to monetize the alleged “passive equipment” of the mobile antenna web owned by the Group, thing which galore telecoms person done securing important superior specified arsenic Vodafone Group with Vantage Towers, United Group which closed a woody with the Arabs of Saudi Telecom, but besides the genitor Deutsche Telekom which sold 51% of GD Towers to DigitalBridge and Brookfield. Note that from that woody DT enactment astir €18bn successful its cash… So immoderate clip ago, OTE assigned to 1 of the Big4 firms a survey for utilizing the operation passive instrumentality arsenic it decided to proceed to a rotation disconnected of that activity. The hive-off of the activities related to the passive instrumentality of the mobile antenna towers was implemented and already the publication to the recently formed, 100% subsidiary institution COSMOTE TELEKOM TOWERS (CCT) was completed. Its stock superior amounts to €633m portion arsenic “dowry” it undertook absorption of 3,833 passive mobile basal stations and successful full approx 3,600 spots with installed passive equipment. In the archetypal BoD of CCT the presumption of president was taken by Giorgos Tsonis (CTO of OTE Group) and vice president Charalambos Mazarakis (Chief Officer Financial Affairs OTE Group).

ATHENS AIRPORT: G. Paraschis departs – G. Kallimasias succeeds him

End of an epoch astatine the biggest airdrome of the state wherever the declaration expiry of 1 of the longest serving CEOs of the aerial transport assemblage mostly brings changes astatine the helm of Athens International Airport. After a 19 twelvemonth way astatine the “helm” of AIA Giannis Paraschis decided to permission connected 31 January 2026 and successful his spot from aboriginal February takes implicit Giorgos Kallimasias, enforcement of the AIA since 1999. G. Paraschis has arsenic known since 2023 besides the presumption of president astatine SETE wherever his 3 twelvemonth word ends formally — based connected existent information — outpouring 2026. Mr Kallimasias, holding since 2019 the presumption of Chief Strategy Officer, “ran” important actions, specified arsenic the 20 twelvemonth hold of the airdrome institution concession, the IPO, the promotion of concern plans for enlargement / upgrade of airdrome infrastructure etc.

New utilization effort (with societal footprint owed to… fashionable fighters)

Do you retrieve the years agone communicative with an EOMMEX gathering successful Tavros that TAIPED was trying to utilize? There had adjacent been recovered the winning bidder, MRP TAVROS AE, subsidiary of the Dutch radical MRP controlled by the Meijer family, 1 of the richest of the country. The radical which is 1 of the largest existent property companies successful the Netherlands virtually slammed the doorway and left, arsenic the Tavros-Moschato municipality — successful whose borders the gathering is — was against the investment. Now I perceive that for the 3.3 stremma spot adjacent Piraeus Avenue a caller utilization tender is being prepared. But truthful that determination won’t again beryllium issues with “people’s fighters” who blocked the archetypal plan, successful the caller effort determination is examined a proviso for societal housing. Given the monolithic lodging problem, this clip the effort mightiness not stumble connected objections.

Institute “Bruno Leoni” awards G. Stournaras

In a study by Italian Ilfoglio connected the summation of Unicredit’s information successful Alpha Bank, it is mentioned that this twelvemonth the yearly Award of “Bruno Leoni” Institute is fixed to Greece for the effectual enactment the state achieved successful fiscal accommodation and structural reforms. The grant is fixed to the Governor of Bank of Greece, Giannis Stournaras, Friday 7/11 astatine authoritative meal by Istituto Bruno Leoni successful Milan. At the yearly gala meal astir 500 personalities of academic, concern and fiscal satellite participate, to whom the victor addresses his speech. G. Stournaras is honored for the achievements of Greece successful confronting and overcoming an economical situation of exceptional dimensions and arsenic said characteristically successful the invitation, helium was chosen “thinking of a nationalist fig who could beryllium considered to embody the galore important steps of advancement Greece made the past years”. Among erstwhile winners are Vernon Smith (2008), Mario Vargas Llosa (2014), reformers specified arsenic Lord Lawson (2013) and Leszek Balcerowicz (2019), historiographer Richard Pipes (2015), economist Deirdre McCloskey (2016), dissident person Isabel Diaz Ayuso (2021), governmental dissidents Jimmy Lai (2022) and Maria Corina Machado (2024).

The greenish stake of Petros Pappas successful shipping

Star Bulk Carriers, of Petros Pappas, proceeds to “green” modulation of shipping, applying a multi twelvemonth programme for modernization and decarbonization of its fleet. With full investments exceeding $50m past 3 years, the institution targets emanation simplification and afloat vigor compliance by 2050, according to its caller ESG Report. The institution has launched an extended newbuild programme including 5 caller Kamsarmax, each equipped with latest tech engines and adaptation capabilities to alternate fuels. At the aforesaid clip installation of shaft generators successful caller ships is evaluated, arsenic good arsenic usage of star and upwind powerfulness for existing units. This strategy is portion of the broader program of the institution for renewal and decarbonization of the fleet which numbers 142 bulkers capableness supra 14.2m dwt. By extremity 2024, fleet volition scope 164 ships, covering each size spectrum — from Supramax and Panamax to Capesize and Newcastlemax. The mean property of fleet, 11.9 years, is importantly little than planetary average, allowing accelerated adoption of caller technologies and vigor standards.

Re-appearance of George Economou successful VLCC tanker newbuildings

George Economou via his TMS Group re-enters dynamically the crippled of newbuildings of VLCCs successful China. According to shipping sources TMS is successful last signifier statement with Hengli Shipbuilding to physique up to 4 caller vessels capableness approx 306,000 dwt each. Deliveries expected to commencement 2027 and implicit 2028. His past effort successful this tract was 2017 erstwhile helium had agreed with Hanjin Heavy Industries successful Philippines, but woody did not materialize owed to fiscal problems of the yard.

Nikolas Martinos and the “sweet spot” of the market

After a bid of palmy sales, Thenamaris of Nikolas Martinos continues to work the marketplace perfectly. Since 2022 the institution has liquidated approx $1bn from merchantability of much than 30 ships, with 9 transactions lone this year. Latest example, Seavoyager, which changed sanction to Cosmo Sail and emblem to Barbados, passing to Chinese hands for terms good supra existent valuations. The determination is portion of the strategy of fleet renewal, wherever Thenamaris sells astatine the apical of rhythm and places selectively successful newer tonnage. Now, it maintains a fleet of 51 tankers controlling 7 suezmax, 24 aframax/LR2, 13 MR and 7 VLCC. In shipping circles they accidental Nikolas Martinos has recovered the “sweet spot” of the marketplace and liquidates astatine the close moment, successful the close way.

The “made successful Greece” bodyworks

An absorbing letter–appeal was received yesterday, Monday November 3rd, by Prime Minister Kyriakos Mitsotakis and MoD Nikos Dendias. Sender: the Association of Manufacturers of Frames and Bodyworks of Motor Vehicles, and subject: the information of the Greek framework and bodywork manufacture successful the armaments programme of the Armed Forces. This Association has a half-century way grounds (established successful 1976), and its members are bodywork manufacturers and each kinds of superstructures connected each types and categories of conveyance frames arsenic good arsenic manufacturers of trailers — immoderate adjacent with a past of 90 years of publication to the nationalist economy. It is diagnostic that President of the Association is Petros Tagalakis, caput of TEMAX, a historical bodywork shaper and shaper of astir each occurrence engines successful our country, portion Vice President is the precocious elected president of the Hellenic-American Chamber of Commerce Giannis Sarakakis, who needs nary further introduction. As stated successful the letter, “months agone you announced the authorities readying for the instrumentality of the Armed Forces of our country, which we were informed includes among different things subject vehicles of assorted types. At the aforesaid clip you announced your determination for the information of home manufacture successful this planning, which we warmly applaud. The members of our Association already person the morganatic and prerequisite multi-year know-how, accumulation capabilities, unit and besides the acquisition to lend to the co-production of rolling banal intended for the Armed Forces.” It is further stressed that “it is captious for the improvement of home manufacture to implicit the process for the ‘National Vehicle’, which contempt the completion of the evaluation, inactive remains pending since 2023.” Finally, it is stated that “within this model the publication of the existing home manufacture could lone person affirmative results successful the implementation of the armament programs of the Armed Forces,” portion it is projected to clasp a gathering betwixt the Maximos Mansion and MoD officials handling the substance and representatives of the Association. Although I bash not cognize details, it seems logical to maine that wrong this ongoing, indispensable and precise costly regeneration of the Armed Forces, the existing home manufacture should assertion a tenable share, which surely volition person precocious nationalist added value.

Foreign concern superior enters Motor Oil

Buy orders successful the banal of Motor Oil reached up to €26.62 yesterday, to yet adjacent astatine €26.60 (+2.23%) and capitalization a enactment distant from €3 billion. With play emergence astir +6%, the question of overseas managers who steadily take the banal without haste becomes obvious. The archetypal placements started soon aft the group’s information successful Kepler Autumn Conference 2025, 9–11/9 successful Paris. There Petros Tzannetakis referred to the restart of the (second) refinery, to the strengthening of nett margins. The lawman CEO besides focused connected the associated task with GEK TERNA — for the Komotini (CCGT) works that volition beryllium operational by the extremity of 2025 — portion helium estimated that the 2nd fractional metrics volition beryllium positive, strengthened by accrued income and beardown refining margin. Since then, that is from Paris and after, the archetypal inflows successful the Motor Oil banal were manifested, from overseas concern portfolios, bringing the group’s marketplace worth to €2.946 billion. According to accusation from brokerage houses, absorption volition denote Q3 / 9-month metrics aft November 17.

The grounds and the bonus

On apical of the banal speech committee PPC recovered itself successful the archetypal league of November, arsenic the existent period foreshadows developments for the group. On November 18 it volition denote 9-month fiscal results and 1 time aboriginal it volition contiguous the renewed concern program for the play 2026–2028 astatine the capitalist time that volition instrumentality spot successful London. The banal recorded +4% rise. It is the champion regular show of the past 7 months. It closed astatine a caller 16-year precocious astatine €15.7 and reached €15.8 astatine intraday highs. Next people €16, which it hasn’t seen since aboriginal September 2009. At the aforesaid clip it is precise adjacent to becoming the 9th listed institution with capitalization supra €6 billion. This year’s highest of €27 is being approached again by Motor Oil with the “vehicle” of the interim dividend that volition beryllium distributed for fiscal 2025 a fewer days aft New Year’s Day. Management decided the outgo of €0.35 per stock dividend. Its ex-date is scheduled for Tuesday December 23 and its outgo for Monday January 5. The quality brought buyers to the forefront and Motor Oil’s banal recorded 1 of the strongest rises successful ample cap. It stopped astatine €26.6 and is mounting sail for the records it had acceptable mid-last August.

The wings of Aegean

In the past days Aegean’s banal has risen to capitalization supra €1.2 billion. One probable origin of the stock mobility possibly is that successful 40 days from today, Aegean Airlines volition beryllium the archetypal hose of an EU subordinate authorities to statesman nonstop flights with Iraq. Along with the enactment to Erbil — the superior of the Kurdish portion which already operates since February 23 with 2 play routes — Aegean’s airplanes volition alert successful an country wherever until contiguous Turkish Airlines and Pegasus dominate. Aegean’s initiatives besides person a geostrategic dimension. Within the adjacent 5 months, Aegean inaugurates nonstop flights besides with India trying to wedge into the practice of Indian airlines with Turkish carriers. Aegean has secured 2 Airbus A321neo XLR (Extra Long Range) with autonomy up to 10.5 hours, to beryllium delivered December 2025 and January 2026. Essentially Aegean is entering the “carriage” of the India-Middle East-Europe Economic Corridor (IMEC) — the corridor that is called to vie with China’s Belt and Road Initiative.

Small and mid capitalization successful the foreground

The Stock Exchange is organizing time the archetypal of 2 meetings for companies not included successful FTSE25, with intent to showcase listed companies that are not successful the archetypal enactment of prime of overseas money managers. It is an evident effort to item the protagonists of the “next day”. The 2nd EXAE meeting, for mid headdress stocks, is scheduled for Monday November 24, portion tomorrow’s lawsuit volition beryllium held with the information of 19 companies from assorted sectors and fields of activity, with the important information that the practice of listed companies is geographically covered too. AlphaTrust Andromeda, AsCo, Elton Group, European Innovation Solutions, Interlife, Kiriakoulis Group, Loulis Food Ingredients, Mediterra, Varveris-Moda Bagno, ONYX, Orilina Properties, Papoutsanis, Performance Technologies, Petros Petropoulos, Quality & Reliability, Real Consulting, Revoil, SoftWeb and Unibios — analytically the 19 participations (up to yesterday noon 3/11). The marketplace worth of each 19 companies hardly exceeds the €1 cardinal threshold (€1.026 cardinal astatine yesterday’s prices 3/11). Only 5 of these listed are valued supra €100 cardinal (ONYX, Orilina, Real Cons., Interlife and Performance). On the other side, SoftWeb, Mediterra, Kiriakoulis, E.IN.S, AlphaTrust, Revoil, Q&R, AsCo are successful the class €10 to €50 million. With a archetypal (rough, and based connected H1 metrics) “pricing” of these companies the cardinal ratios (p/e, p/bv) are astatine levels little than the marketplace average, since successful our banal marketplace the “heavier” stocks are preferred and strengthened investment-wise.

The question of 148 trillion dollars

October 2025 wrote — marketplace — history. The planetary capitalization of superior markets reached $148 trillion. This constitutes +19.3% yearly increase, of people mode supra the humanities average. From the debased levels of 2020, markets person added nary little than $75 trillion, signaling +97% rise. Observing markets the past 20 years, successful a Bloomberg illustration it is revealed that banal markets person quadrupled their worth from astir $35 trillion successful 2005 to $148 trillion this October. The tech assemblage unsocial successful the past 2 years has added $40 trillion — much than fractional of the full summation of the past 5 years. In the aforesaid clip play the planetary system grows astatine rates 3% to 3.5% annually. Market valuations tally astatine treble speed. The decoupling of the existent with the marketplace system is not unprecedented — 2000 and 2008 reminded america painfully. The question contiguous is not “if” but “when” and “how deep” the inevitable correction volition be. The grounds of $148 trillion is simply a bully accidental to re-evaluate our concern portfolios.