Today, payments to farmers begin (but with difficulties…), the Rafinas (soft), departures from Grivalia, illegal gambling and the Polemis family’s business ventures on land

Hello! I’ve already written to you that the biggest and astir hard occupation for the authorities close present is the payments to farmers, who haven’t received immoderate wealth for months. Naturally, we’re talking astir respective 100 1000 of them, who are protesting powerfully — not to accidental boiling with anger. According to my root astatine the Maximos Mansion, the occupation is enormous. The EU perfectly refuses to backmost down unless the outgo strategy is afloat regulated to forestall theft and mismanagement. OLAF volition beryllium stationed astatine OPEKEPE’s offices until Friday. Nevertheless, starting today, payments volition gradually statesman for the remainder of 2024, adjacent though the deadline for submitting compensation claims for 2025 hasn’t yet expired (it ends connected the 20th of the month). From today, payments volition besides beryllium made for integrated crops and beekeeping; connected the 28th of the month, immoderate outstanding amounts related to tempest Daniel damages, sheep pox, etc., volition besides beryllium paid — things I had honestly ne'er heard of before. In total, astir €150 cardinal volition “drop” — and past we’ll see. Every time astatine 4 p.m., Hatzidakis, Tsiaras, Pitsilis, and different officials are dealing with this issue. As the saying goes: run, small legs, run…

Kiwis, Daniel, and frayed nerves

So, with farmers’ and livestock breeders’ nerves stretched to the bounds owed to the important outgo delays, today’s treatment betwixt Minister Tsiaras and ND MPs is expected to beryllium tough. Even wrong the Ministry of Rural Development, things are chaotic astatine times. For example, a root told maine that nary outgo bid had been sent to the Finance Ministry for kiwi crops destroyed by Daniel, meaning those radical haven’t received a cent successful 2 years. The comic portion is that the Ministry of Rural Development has a lawman curate from Larissa (Kellas), who was appointed to “absorb” tensions from Thessaly. And due to the fact that there’s a kiwi festival coming up successful a portion of Larissa, a polite connection has been sent to authorities officials advising them not to amusement up.

The amendment for the Tomb of the Unknown Soldier

The amendment assigning work for the cleaning and attraction of the Tomb of the Unknown Soldier to the Ministry of National Defense is ready. The Prime Minister’s General Secretary, Stelios Koutnatzis, has prepared the main provisions and penalties, but further coordination with Dendias is needed. Dendias volition beryllium successful the U.S. today, specifically astatine the Naval War College successful Rhode Island, and besides plans meetings successful Boston. The amendment whitethorn beryllium submitted by the extremity of the week but volition beryllium voted connected adjacent week arsenic portion of a Ministry of Infrastructure bill.

Visit to Attikon Hospital

Seizing the opportunity, Mitsotakis wants to get retired of the Maximos Mansion arsenic overmuch arsenic possible, docket permitting. I perceive that contiguous helium plans to sojourn Attikon Hospital unneurotic with Adonis (Georgiadis) to inspect the renovated ER section — a task funded by the Recovery Fund, which he’s been pushing hard. Whether he’ll besides marque a little circuit of occidental Attica volition beryllium connected his schedule.

Soft Karamanlis?

After Samaras’ “tensions” past week, contiguous it’s Karamanlis’ crook (in Rafina) — he’ll talk astatine an lawsuit honoring Anna Psarouda-Benaki astatine the Old Parliament. His speech, lasting astir 15 minutes, volition chiefly absorption connected the person helium nominated for Speaker of Parliament successful 2004, with lone little references to organization matters. He volition accent that Western societies are facing a increasing situation of spot successful institutions and the judiciary, and that it’s a situation for the governmental strategy to span this gap. I’m told his remarks won’t beryllium interpretable successful airy of the Routsis case, and wide the code volition beryllium alternatively soft. Not that it truly makes overmuch difference.

Out of Grivalia — Panagiotis Panayiotidis

The ambiance astatine Grivalia Hospitality remains tense, with yet different high-profile enforcement departure. According to information, Panagiotis Panayiotidis — caput of Grivalia Developments, the group’s operation limb — near the institution connected 30/9/25. He had been brought successful by erstwhile CEO N. Strafthi. The departure was a communal determination betwixt Chrysikos and Panayiotidis. By the way, the “match” betwixt G. Chrysikos and erstwhile CEO N. Strafthi continues. Strafthi is reportedly furious due to the fact that Chrysikos blames her for Grivalia’s losses, adjacent though she was CEO for lone 8 months. The quality whitethorn adjacent extremity up successful court. Market chatter says Strafthi is preparing immoderate surprises for Chrysikos — rather likely, since she was his closest subordinate for implicit 20 years and knows things firsthand. Grivalia Hospitality is doing amended this twelvemonth (compared to the €55 cardinal losses of 2024), but the losses haven’t yet been afloat closed, and show inactive falls acold abbreviated of Prem Watsa’s expectations. In immoderate case, it’s clip for Grivalia to crook the leafage and absorption connected the aboriginal — particularly with demanding projects ahead, specified arsenic the Petalioi islands.

Forget the Kyriakoulis you knew – Why not?

Forget the Kyriakoulis institution you knew. The well-known steadfast progressive successful maritime tourism — chartering leisure boats and managing marinas — is changing its sanction to Y/KNOT Invest S.A. If you’re puzzled by the caller name, the institution explains that Y/KNOT has a dual symbolic and modern planetary character: inspired by the operation “Why Not?”, it expresses a tone of innovation and boldness, portion “KNOT” symbolizes the transportation with the sea, tradition, and continuity of the Group, arsenic good arsenic the links betwixt people, activities, and values. Admittedly, an archetypal sanction — and successful the aforesaid spirit, this file could suggest a fewer catchier ones: beryllium happy, ouzo power, Zorba’s sirtaki, this is Sparta, etc.

Greeks gambled €1.67 cardinal illegally past twelvemonth (money exists!)

Deputy Minister of National Economy and Finance, Giorgos Kotsiras, spoke astir a precise strict model for amerciable gambling astatine yesterday’s OPAP Responsible Gaming Conference. The inaugural for the caller legislative model had been announced by Minister Kyriakos Pierrakakis, pursuing the assignment 2 months agone of Antonis Vartholomaios arsenic President of the Hellenic Gaming Commission (EEEP). He spoke of a holistic model aimed astatine tackling amerciable gambling astatine its root. Beyond protecting society, players, and licensed operators from the amerciable market, a important relation successful shaping the measures was played by an EEEP survey (a new, updated 1 is besides being prepared). According to it, astir 800,000 citizens gambled past twelvemonth connected unlicensed websites, successful amerciable clubs, oregon underground casinos — with full wagers estimated astatine astir €1.67 billion. This translates to astir fractional a cardinal euros successful mislaid authorities revenue. Industry experts estimation that with tougher measures against amerciable gambling, the authorities could recoup astir fractional of that — astir €250 cardinal — creating caller fiscal abstraction for benefits. Among different things, the caller ineligible model volition enforce stricter penalties connected offenders, contiguous and semipermanent closure and licence revocation for premises wherever amerciable gambling occurs, and, peculiarly for online gambling, decisive enactment astatine the payment-network level, successful practice with each regulatory authorities.

The Polemis Family’s Fourfold “Hit” connected Land

The Polemis family, 1 of the oldest and astir historical “powers” successful Greek shipping, traces its roots to Andros. However, their activities are not constricted to shipping, arsenic land-based concern ventures are proving progressively charismatic to much and much shipowners. Thus, the subdivision of the household headed by Spyros Polemis—of Polembros Shipping—along with his children Leonidas and Katerina, made a fourfold “move.” Yesterday, Tuesday, 4 caller companies were registered with the General Commercial Registry (GEMI), each with land-based activities—though their names inactive evoke the sea, since they were inspired by oversea winds. The “move” is rather significant, since the household of Spyros Polemis is initially investing a full of €5,730,000. Specifically, each 4 companies are headquartered successful a gathering connected Vouliagmenis Avenue and person arsenic their intent the purchase, sale, and absorption of existent property and land. The 2 companies named “Maistros Anemos Single-Member P.C.” and “Zephyros Anemos Single-Member P.C.” person archetypal stock superior of €2,000,000 and €650,000 respectively, divided into shares of €100 each, each contributed by Leonidas Polemis, lad of Spyros Polemis, who besides assumes their management. At the aforesaid time, the different 2 recently established companies—“Sirokos Anemos Single-Member P.C.” and “Evros Single-Member P.C.”—have archetypal stock superior of €2,500,000 and €580,000 respectively, contributed by Katerina Polemi, who likewise takes implicit their management. It should beryllium noted that though Katerina Polemi comes from a shipping family, she has made her vocation successful music. She studied astatine Berklee College of Music successful the U.S., recorded her archetypal medium “Spread the Music not the Name” successful 2011 to fantabulous reviews, and has performed concerts worldwide. She has appeared astatine Carnegie Hall, Boston Symphony Hall, and, successful Greece, astatine the Athens Concert Hall (Megaron Mousikis). She besides composed the soundtrack for the movie “Little England” by Pantelis Voulgaris.

The Koustas Sons

New ventures are not lone being pursued by the adjacent procreation of the Polemis family, but besides by different almighty shipping dynasty. The 2 sons of Giannis Koustas (of Danaos), Dimitris and Roberto Koustas, founded successful July 2024 a existent property absorption institution called “Akti Kondyli Properties S.A.”, with archetypal stock superior of €3 million, headquartered astatine the aforesaid code arsenic Danaos, 14 Akti Kondyli. Yesterday, they proceeded to found different company, “Sikos Single-Member S.A.”, intended for holding institution services. It is besides based astatine 14 Akti Kondyli successful Piraeus, with archetypal stock superior of €1,350,000, contributed by Dimitris Koustas. The archetypal Board of Directors consists of Dimitris Koustas arsenic Chairman and CEO, and members Roberto Koustas and Claudine Aimee Carbonaro.

Lowering the Fleet’s Average Age

Behind the scenes of Greek shipping, Kostas Delaportas continues softly with the large renewal of DryDel’s fleet. Ships that others mightiness inactive see “new,” specified arsenic the 63,600-dwt Andiamo (2019), person been sold for astir $30.5 million, portion the 64,500-dwt Utopia (2020)—still nether clip charter—changed hands for $34 million. The shipowner’s extremity is to trim the mean fleet property to nether 4 years, portion besides taking transportation of 5 newbuildings implicit the adjacent 12 months. The caller ultramaxes and capesizes ordered from Japanese shipyards bespeak his strategy: ships tailored precisely to Delaportas’s standards, replacing older secondhand vessels and taking vantage of beardown request for younger tonnage. In Akti Miaouli, insiders susurration that each determination reflects cautious superior planning, aiming for a modern, resilient fleet acceptable to payment from precocious freight rates successful the coming years.

Nikos Tsakos’s “Engine and Tonic” Travels

Nikos Tsakos precocious embarked connected a three-week travel combining concern and household matters. He began successful London, successful acquainted surroundings for the family, wherever helium and his subordinate Sir Efthymios Mitropoulos—former Secretary-General of the IMO—spent sizeable clip astatine the International Maritime Organization. Their beingness determination was linked to supporting London International Shipping Week, a cardinal planetary lawsuit traditionally attended by galore Greek shipping families. Tsakos described the ambiance arsenic “engine and tonic”—dynamic and stimulating—with meaningful exchanges among apical manufacture figures. He past traveled to the United States, wherever helium attended a Greek Orthodox assemblage ceremonial blessed by the Ecumenical Patriarch, during which the household prayed for bid and stableness successful the markets. Returning to London, helium participated successful the yearly lawsuit astatine City University, wherever helium and his lad Panagiotis presented topics connected shipping to a high-profile audience.

Andreas Martinos and Support for the Border Islands

With an inaugural that highlights the societal look of the company, Minerva, led by Andreas Martinos Jr, has undertaken to upgrade 11 schools connected the land of Kalymnos done the programme “Together successful the Borderlands.” The result? 1,546 students and 217 teachers present bask improved infrastructure, caller STEM spaces, originative enactment rooms, libraries, and speechmaking corners. At the aforesaid time, 2 kindergartens, 2 vocational grooming workshops, and 1 machine laboratory were upgraded, portion each schools received acquisition and diversion materials.

IDEAL Holdings: Euronext, Free Float, Minion, and Acquisitions

A precise absorbing effect was fixed yesterday by Lambros Papaconstantinou of IDEAL Holdings, erstwhile asked by reporters however helium views the upcoming “marriage” of the Athens Stock Exchange with the Euronext Group. After analyzing the evident benefits for the extent and credibility of the Greek marketplace if it joins a large banal speech group, Papaconstantinou besides highlighted different important point: On ample planetary exchanges, large organization investors not lone look astatine institution size but wage adjacent attraction to escaped float. Specifically, they similar listed companies wherever the main shareholder holds a comparatively tiny stake. If determination is 1 main shareholder, it is mostly preferable that their involvement does not transcend 30%. If determination are aggregate large shareholders, past 45% is considered the limit. Furthermore, Papaconstantinou enactment an extremity to rumors astir a imaginable acquisition of Minion by Attica, and again denied immoderate involvement successful Vivartia. He stated that IDEAL is focused connected concern sectors and targeted acquisitions successful IT and food, aiming to fortify existing holdings. Finally, helium announced that a large acquisition of this standard is expected by the extremity of Q1 2026.

Why Prodea Is successful a Hurry

Tomorrow — earlier than immoderate erstwhile twelvemonth — Prodea Investments (+1.67% astatine €6.10) volition denote its nine-month results. Obviously, the absorption has thing affirmative to denote (perhaps a pre-dividend?), which explains wherefore they person moved up the merchandise date, usually acceptable for mid-November. Yesterday, the company’s marketplace capitalization comfortably exceeded €1.5 billion, which is adjacent to its nett plus worth based connected the June valuation of its properties and yields. In the archetypal fractional of the year, Prodea’s turnover reached €112.4 million, portion profits approached €75 million.

Two News Items That Affected Aegean

Aegean Airlines’ marketplace capitalization fell somewhat beneath €1.2 cardinal (-0.75% astatine €13.30), pursuing 2 large planetary developments. The archetypal concerns marketplace reports that EasyJet’s banal appears to beryllium a takeover people by Mediterranean Shipping Company (MSC). If this acquisition materializes, MSC—one of the world’s largest shipping groups—would go a formidable rival for Aegean, which is presently seeking to grow its scope eastward. Analysts enactment that merger and acquisition enactment successful the low-cost hose assemblage is intensifying, with manufacture consolidation apt to summation successful coming years owed to fierce contention and the pursuit of economies of scale. The 2nd portion of quality involves the diminution successful planetary lipid prices, pursuing the International Energy Agency (IEA) monthly report, which chopped its forecast for planetary lipid request maturation successful 2025 to 710,000 barrels per day—that’s 30,000 barrels less than past month’s estimate. This simplification signals weaker planetary economical activity, but besides lowers substance costs—the largest operating disbursal for airlines. For Aegean, wherever pitchy substance accounts for 30–35% of full costs, this translates into an contiguous betterment successful nett margins.

Athens Stock Exchange: Sharp Drop with 30 Block Trades

According to marketplace theory, a ample fig of artifact trades during a steeply antagonistic league often bespeak a “distribution of weight”—and whitethorn foreshadow further declines. Yesterday, full trading measurement reached €320.18 million, of which €63.82 cardinal came from artifact transactions. The cardinal point, however, was the lack of overseas support. Normally, aboriginal successful the session, Western concern funds participate the market, easing concerns and restoring balance—but not yesterday. The General Index stayed antagonistic passim the day, plunging to 2,053.77 points (-1.6%) and closing adjacent its lowest level astatine 2,056.86 points (-1.45%). Apart from OPAP, determination were important declines successful banking stocks, which had been the astir profitable conception of the market: Piraeus Bank astatine €7.28 (-2.02%), Alpha Bank astatine €3.60 (-2.7%), Eurobank astatine €3.61 (-1.01%). National Bank held dependable astatine €13.68, supported by capitalist expectations of the adjacent large deal. Some enactment came from TITAN, Lamda Development, GEK TERNA, EYDAP, and Sarantis, each showing tiny but affirmative gains. Meanwhile, Intralot (-2.94% astatine €1.124), AVAX (-2.7% astatine €2.34), and ADMIE (-1.45% astatine €3.06) added to the day’s gloomy picture.

The Silver “Squeeze” of the Year

The metallic marketplace is experiencing an explosive liquidity crisis, reminiscent of the biggest abbreviated squeezes successful history. The annualized overnight borrowing outgo for metallic has skyrocketed to implicit 100%, surpassing adjacent the levels seen during the legendary abbreviated compression of the 1980s (veterans volition callback the Hunt brothers) erstwhile prices deed $52.50 per ounce. From 2021 to aboriginal 2024, metallic borrowing rates hovered adjacent zero. Suddenly, successful 2024–2025, they person surged—reaching 35% for one-month loans, the highest level successful 5 years. In the carnal market, capitalist request for a safe-haven plus has surged, the availability of metallic bars for commercialized has plummeted, and request from India—traditionally a large user of precious metals—has exploded. The London market, the planetary hub for metallic trading, has astir wholly mislaid liquidity. There are reports of ample aerial shipments of 15–30 cardinal ounces from New York to London by investors seeking to nett from arbitrage opportunities betwixt the 2 large markets. For now, metallic has go the hottest commodity of the year.