INDEX Business File Quarterly Review

Transcription

1 INDEX Business File 2009

2 C O N T R I B U T O R S A N D A R T I C L E S Α ALEXAKIS, VANESSA TESTING TIMES FOR THE ATHENS BOURSE (with Pangalos, Philip) CLOUDS ON THE HORIZON CREDIT SQUEEZE HITS PROPERTY MARKET RESORTS CHOOSE RENEWABLE ENERGY COME FLY WITH ME READY FOR TAKE-OFF SPREADING THE WORD (with Hatzidakis, George) GREEK WINES ABROAD TEARS OF SAINT ISIDOROS SWEET SMELL OF SUCCESS THE 30 MAJOR GREEK SHAREHOLDERS ON THE MAIN ASE HELLENISM AT HEART Β BOURAS, STELIOS GREEK PROPERTY REBOUND UNLIKELY BEFORE END OF RUNAWAY TRAIN Η HATZIDAKIS, GEORGE ROAD TO RECESSION? (with Pangalos, Philip) SEEKING GREENER PASTURES MESSAGE IN A BOTTLE EARTH, WIND AND FIRE FUEL FOR THOUGHT GREEK WINE COMES OF AGE PAROS WINES REACH OUT (with Alexakis, Vanessa)GREEK WINES ABROAD GREECE S LIQUID GOLD OLIVE OIL LOOKS TO BRANCH OUT THINKING OUTSIDE THE BOX OLD AND NEW FACES ON THE FRONT LINES GREECE S TOURISM SECTOR LOOKS TO TACKLE THE DOWNTURN COUNTDOWN TO COPENHAGEN HOPE, KERIN ALTERNATIVE GAS SUPPLY ROUTE PLANS IN THE PIPELINE ALBANIA: A REGIONAL TRANSPORT AND ENERGY HUB? GREEK BANKS FACE MOUNTING BAD DEBTS IN SOUTHEAST EUROPE CYPRUS SEEKS WAYS TO REINVIGORATE ITS FLAGGING ECONOMY K KONTOGIANNIS, DIMITRIS SHOW ME THE MONEY GREEK BOND YIELD SPREADS NARROW DARKER CLOUDS GATHER OVER GREEK BONDS P PANGALOS, PHILIP (with Papachristou, Harry) A MAN FOR ALL SEASONS ANNUS HORRIBILIS (with Alexakis, Vanessa) CLOUDS ON THE HORIZON (with Hatzidakis, George) SEEKING GREENER PASTURES THE DAY AFTER TOMORROW ZERO HOUR APPROACHING HIGHWAY TO (FISCAL) HELL ALL CHANGE OPTIMISM PASOK CAN GET ECONOMY BACK ON TRACK PAPACHRISTOU, HARRY (with Pangalos, Philip) A MAN FOR ALL SEASONS THE BINGE IS OVER THE YEAR OF LIVING DANGEROUSLY NOT IN THE FIRING LINE YET FLYING WITHOUT RADAR PSAROPOULOS, JOHN FROM HOMER TO CO-OPS O T H E R A R T I C L E S / C O L U M N S PAGE No. (all issues) PUBLISHER S NOTE 3 EDITOR S LOG 6-7 NEWS IN BRIEF 8-9 DIASPORA (issues 72, 73), (issue 74) I N T E R V I E W S ARAPOGLOU, TAKIS Chairman & CEO of National Bank of Greece CAPRALOS, SPYROS Chairman of ATHEX DIMAS, STAVROS European Union Environment Commissioner ECONOMOU, GEORGE President of the American Hellenic Institute Athens Chapter MITARACHI, NOTIS A. Director of Research at Fidelity International SOLEAS, GEORGE DR Scientist STOURNARAS, YANNIS Director of IOBE Research TAMVAKIS, STEFANOS P. Head of World Council of Hellenes Abroad (SAE) VASSILAKIS, THEODOROS Chairman of Aegean Airlines XAFA, MIRANDA Executive Board Member of International Monetary Fund

3 S U B J E C T S / S E C T O R S A ACQUISITIONS 71 / AIRLINE INDUSTRY 72 / AIRPORTS 72 / 46-47, 73 / 8-9 ATHENS 2004 OLYMPICS 71 / ATHENS HEART 71 / AWARDS/PRIZES 72 / B BALANCE SHEET 71 / BANKRUPTCY 71 / 30-34, BANKS 71 / 8-9, 10-14, 22-23, 26-28, 30-34, 46-50, 73 / 14-16, BIODIVERSITY 72 / 20-24, 30 BIOFUELS 72 / 26-30, BONDS 71 / 22-23, 30-34, 72 / 16-18, 73 / 14-16, 74 / BORROWING 73 / BUDGET 71 / 16-20, 24-25, 74 / 6-7 BUREAUCRACY 73 / C CAPITALISM 71 / CAPITALIZATION 71 / CARBON 72 / CLIMATE CHANGES 72 / COMMUNITY SUPPORT FRAMEWORK FOURTH 72 / COMMUNITY SUPPORT FRAMEWORK THIRD 71 / 16-20, 72 / COMPETITIVENESS 72 / 8-9, 73 / 8-9, CONSORTIUM 71 / 8-9 CONSTRUCTION INDUSTRY 71 / 6-7, 10-14, 16-20, 24-25, 36-38, 46-50, 72 / 10-14, 73 / CONSUMPTION 71 / 6-7, CORRUPTION 73 / 6-7 CREDIBILITY 74 / 6-7 D DEBT 71 / 10-14, 73 / DEFICIT 71 / 16-20, 73 / 3, 10-12, 18-22, 74 / 18-19, 20-22, DIVIDENDS 71 / 8-9 E ECONOMIC GROWTH 71 / 6-7, 10-14,16-20 ECONOMIC POLICY 71 / 10-14, 74 / ECONOMIC REFORMS 74 / 6-7, 10 ELECTIONS 73 / 3, 6-7, 10-12, ELECTRICITY 72 / EMPLOYMENT 71 / 40-42, 46-50, 73 / 3, 6-7 ENERGY 71 / 44-45, 72 / 26-30, ENVIRONMENT 72 / 20-24, 26-30, 32-34, 74 / EURIBOR 71 / EUROPEAN MONETARY UNION (EMU) 71 / EUROPEAN UNION (EU) 71 / 6-7, 16-20, 24-25, 30-34, 40-42, 44-45, 72 / 6-7, 20-24, 32-34, 73 / 8-9, 30-32, 40-42, 46-47, 74 / EUROZONE 72 / 6-7, EXPANSION 71 / EXPORTS 73 / 10-12, 35-37, 45 F FARMERS 71 / FINANCIAL CRISIS 71 / 10-14, 24-25, 26-28, 30-34, 40-42, 46-50, 73 / FIRES 73 / 3, 6-7 FISCAL POLICY 73 / 10-12, FLU 72 / FOREIGN INVESTMENT 71 / 26-28, 73 / 8-9 FREIGHT RATES 71 / FUNDING 71 / FUNDS 71 / G GDP 71 / 16-20, 22-23, 24-25, 40-42, 72 / 6-7, GEOTHERMAL ENERGY 72 / GLOBAL CRISIS 71 / 16-20, 30-34, 36-38, 40-42, 44-45, 72 / 8-9, 10-14, 20-24, 38-40, 73 / 3, GLOBAL ECONOMY 73 / GOLDEN HALL 71 / GOLF TOURISM 74 / GOVERNMENT 71 / 8-9, 16-20, 22-23, 30-34, 40-42, 72 / 8-9, 74 / 3, GREEK ECONOMY 71 / 10-14, 16-20, 36-38, 40-42, 72 / 10-14, 73 / 10-12, 18-22, 74 / 3, 18-19, GREEK RICH LIST 74 / GREEK STATE 71 / 8-9 H HEDGE FUNDS 72 / I INFLATION 71 / INSTITUTIONAL INVESTORS 71 / 26-28, 73 / INTEREST RATES 71 / INVESTMENT 71 / 16-20, 26-28, 40-42, 72 / 38-40, 42-44, 73 / INVESTORS 71 / 26-28, 46-50, 74 / K KYOTO PROTOCOL 72 / 20-24, 74 / L LABOUR MARKET 71 / 16-20, 24-25, 73 / LEGISLATION 71 / 8-9 LENDING 71 / 10-14, 73 / LIBERALIZATION 71 / 6-7 LIQUIDITY 71 / 10-14, 26-28, 30-34, 46-50, 72 / LOANS 71 / 10-14, 30-34, 46-50, 72 / 8-9, 73 / 8-9, M MALLS 71 / MASTIC 73 / MEDITERRANEAN COSMOS 71 / MERGERS 71 / 10-14, MONETARY POLICY 71 /

4 N NABUCCO PIPELINE 71 / NATURAL GAS 71 / 44-45, 72 / NEW ACROPOLIS MUSEUM 72 / 3, 8-9 O OIL INDUSTRY 72 / 8-9 OLIVE OIL 73 / 40-42, 42-44, 45 OLYMPIA MALL 71 / ONASSIS PRIZES 72 / 8-9 P PANTHEON PLAZA 71 / PENSIONERS 71 / PHILOTIMO 74 / PIPELINES 71 / POLITICIANS 71 / 6-7 PORTS 71 / POWER PRODUCTION 72 / PRIVATE SECTOR 71 / 16-20, PRIVATISATION 71 / 8-9, 73 / PRODUCTION 72 / PROPERTY 71 / 8-9, 10-14, 46-50, 73 / PUBLIC DEBT 71 / 22-23, 72 / 10-14, 73 / 14-16, 18-22, 74 / 6-7 PUBLIC INVESTMENT 71 / PUBLIC SECTOR 71 / 6-7, 16-20, 73 / 6-7, PUBLIC SPENDING 71 / 16-20, 73 / R REAL ESTATE 71 / 6-7, 46-50, 73 / RECESSION 72 / 6-7, 10-14, 73 / 10-12, 74 / 6-7, REFORMS 74 / 3, 10 REFORMS 71 / 6-7, 72 / 6-7, 10-14, 73 / 6-7, 10-12, RENEWABLE ENERGY SOURCES 72 / 20-24, RIOTS 71 / 6-7, 40-42, 46-50, 73 / 3 S SCANDALS 73 / 6-7 SCIENCE 73 / SCIENTISTS 73 / SERVICE INDUSTRY 71 / SHAREHOLDERS 71 / 30-34, 74 / SHARES 71 / 8-9 SHIPOWNERS 71 / SHIPPING 71 / 10-14, 24-25, 36-38, 73 / SHIPS/VESSELS 71 / SHIPYARDS 71 / SMEs (SMALL -AND MEDIUM- SIZED BUSINESSES) 72 / 8-9, 73 / 6-7 SOLAR ENERGY 72 / SOUTH STREAM PIPELINE 71 / STOCK MARKETS 72 / T TAX EVASION 73 / 10-12, 74 / 6-7 TAXATION 71 / 8-9, 73 / 10-12, 74 / THE MALL 71 / THESSALONIKI INTERNATIONAL TRADE FAIR 73 / 6-7 TOURISM 71 / 6-7, 10-14, 24-25, 36-38, 40-42, 46-50, 72 / 8-9, 10-14, 46-47, 73 / 10-12, 74 / 30-32, TOURIST INDUSTRY 71 / TRANSPARENCY 71 / 26-28, 72 / TRANSPORTATION 72 / 32-34, TURKISH GREEK INTERCONNECTOR (TGI) 71 / U UNEMPLOYMENT71 / 16-20, 24-25, 40-42, 73 / 6-7, 8-9, 74 / 8-9, W WIND POWER 72 / WINES 73 / 30-32, 34-35, 35-37, C O M P A N I E S, O R G A N I S A T I O N S E T C. A AEGEAN AIRLINES 72 / 42-44, AGRICULTURAL MINISTRY 73 / AIG GREECE 73 / AIR FRANCE 72 / ALEXANDER S. ONASSIS PUBLIC BENEFIT FOUNDATION 72 / ALPHA BANK 71 / 8-9, 30-34, 73 / 24-25, AMERICAN HELLENIC INSTITUTE (AHI) 74 / ANEK 71 / 8-9, 72 / 8-9, 73 / 8-9 APPLE 73 / 8-9 ARISTOTLE UNIVERSITY OF THESSALONIKI 73 / ASPIS REAL ESTATE 73 / ASSOCIATION OF GREEK TOURISM ENTERPRISES (SETE) 71 / 40-42, 74 / ASSOCIATION OF INDUSTRIES OF THESSALY AND CENTRAL GREECE 72 / ATE BANK 71 / 10-14, ATHENS CHAMBER OF COMMERCE 71 / ATHENS INTERNATIONAL AIRPORT 73 / 10-12, 74 / 8-9 ATHENS STOCK EXCHANGE (ATHEX) 71 / 26-28, 30-34, 36-38, 74 / ATISREAL 71 / ATTICA BANK 71 / ATTICA GROUP (SUPERFAST FERRIES) 72 / AVIATION ECONOMICS 72 / B BABIS VOVOS INTERNATIONAL CONSTRUCTION 71 / BANK OF CRETE 71 / BANK OF GREECE 71 / 16-20, 24-25, 30-34, 73 / 26-28, 74 / 6-7, 24-28, BOTAS 71 / BULGARGAZ 71 / C CB RICHARD ELLIS-ATRIA 71 / CENTRAL BANK OF GREECE 72 / CENTRE FOR RENEWABLE ENERGY SOURCES (CRES) 72 / CHIOS MASTIHA GROWERS ASSOCIATION 73 / COCA COLA 3Ε 72 / 8-9 COLLIERS INTERNATIONAL GREECE & MONTENEGRO 71 / COSCO 74 / 8-9,

5 COSTA NAVARINO 72 / 30 COUNCIL OF STATE 71 / CREDIT AGRICOLE 71 / CREDIT GUARANTEE FUND FOR SMALL AND VERY SMALL ENTERPRISES - TEMPME SA 71 / 10-14, CUSHMAN & WAKEFIELD HELLAS SA 71 / D DANOS & ASSOCIATES 71 / DEPA 71 / 44-45, 73 / DESMIE S.A. 72 / DEUTSCHE TELEKOM 72 / 42-44, 73 / DIRECT PETROLEUM EXPLORATION 71 / DOLPHIN CAPITAL INVESTORS 71 / DTZ HELLAS 71 / DUBAI FINANCIAL GROUP 72 / E EASYJET 72 / EFG EUROBANK 71 / 8-9, 72 / 10-14, 73 / 24-25, 74 / EFG GROUP 74 / ELIN BIOFUELS 72 / EMPORIKI BANK 71 / ENDESA HELLAS 72 / ENEL 72 / ENVIRONMENT AND PUBLIC WORKS MINISTRY 72 / EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT 72 / EUROPEAN CENTRAL BANK (ECB) 71 / 10-14, 30-34, 72 / 16-18, 38-40, 73 / 6-7, 14-16, 26-28, 74 / 20-22, EUROPEAN COMMISSION (EC) 71 / 8-9, 16-20, 24-25, 44-45, 72 / 6-7, 10-14, 16-18, 42-44, 73 / 10-12, 30-32, 74 / 6-7, 18-19, EUROPEAN INVESTMENT BANK 71 / 44-45, 72 / 8-9 EUROSTAT 72 / 10-14, 74 / F FEDERAL RESERVE (FED) 72 / FEDERATION OF INDUSTRIES OF NORTHERN GREECE (SVVE) 71 / FIDELITY INTERNATIONAL 72 / FINANSBANK 71 / FITCH 74 / 6-7, 8-9, FOUNDATION FOR ECONOMIC & INDUSTRIAL RESEARCH (IOBE) 74 / 6-7, 8-9, FRIGOGLASS 71 / G GAEA A.E. 73 / 40-42, 45 GAZPROM 71 / GENCO 71 / GREECE S HOMEBUILDERS ASSOCIATION 71 / GREEK ASSOCIATION OF INDUSTRIES AND PROCESSORS OF OLIVE OIL - SEVITEL 73 / 40-42, GREEK SHIPOWNER ASSOCIATION 71 / GREEK WINE FEDERATION 73 / 30-32, H HELLAS JET 73 / 8-9 HELLENIC BANK ASSOCIATION (HBA) 71 / HELLENIC CHAMBER OF SHIPPING 71 / HELLENIC COMPETITION COMMISSION 71 / 8-9 HELLENIC FEDERATION OF ENTERPRISES (SEV) 74 / 6-7 HELLENIC FOREIGN TRADE BOARD (HEPO) 73 / HELLENIC POST BANK 71 / HELLENIC PROPERTY FEDERATION 73 / HELLENIC REGIONAL DEVELOPMENT CENTRE (HRDC) 72 / HELLENIC SEAWAYS 71 / 8-9, 72 / 8-9, 73 / 8-9 HELLENIC TELECOMMUNICATIONS ORGANISATION 72 / 42-44, 73 / HUTCHISON WHAMPOA 71 / 8-9 I IBM 72 / INFO-QUEST 73 / 8-9 INSTITUTE OF TOURIST RESEARCH AND FORECASTS (ITEP) 74 / INTERNATIONAL MONETARY FUND (IMF) 71 / 30-34, 72 / 10-14, 73 / 18-22, 24-25, 74 / 6-7, INTERNATIONAL OLIVE OIL COUNCIL (IOOC) 73 / INVEST IN GREECE S.A. 73 / 8-9 ISTANBUL STOCK EXCHANGE (ISE) 71 / K KESH 72 / L LABOUR HOUSING ORGANIZATION 71 / LAMDA DEVELOPMENT 71 / LAMKO GROUP 71 / LARCO S.A. 73 / LEHMAN BROTHERS 73 / LIQUOR CONTROL BOARD OF ONTARIO (LCBO) 73 / 35-37, LOYALWARD GROUP 71 / LUFTHANSA 72 / M MARFIN INVESTMENT GROUP (MIG) 71 / 8-9, 30-34, 72 / 42-44, 73 / 8-9, 10-12, 74 / 8-9 MARFIN TECHNOLOGY HOLDINGS 73 / 8-9 MASTIC SPA 73 / MEDITERRA 73 / MINISTRY OF DEVELOPMENT 71 / 8-9 MINISTRY OF FINANCE 71 / 6-7, 16-20, 22-23, 73 / 10-12, 74 / MINISTRY OF FOREIGN AFFAIRS 72 / MINISTRY OF MERCHANT MARINE 71 / 8-9, 74 / 3 MINISTRY OF TOURISM 71 / MINOAN GROUP 71 / 46-50, 74 / 8-9 MINOAN LINES 74 / 8-9 MOODY S 71 / 8-9, 74 / 6-7, 8-9, MORAITIS WINERIES 73 / MOTOR OIL 74 / MYTILINEOS GROUP 71 / 24-25, 72 / N NATIONAL ASSOCIATION OF HOTELIERS 74 / NATIONAL BANK OF GREECE 71 / 10-14, 16-20, 30-34, 73 / 24-25,

6 NATIONAL STATISTICAL SERVICE (NSS) 72 / 8-9, 73 / NESTLE HELLAS 71 / 8-9 NEW DEMOCRACY (ND) 71 / 6-7, 24-25, 74 / 10, O OBEROI HOTELS 71 / OLYMPIC AIR 74 / 8-9 OLYMPIC AIRLINES 71 / 8-9, 72 / 42-44, 46-47, 73 / OPAP 73 / 8-9 ORGANISATION FOR ECONOMIC COOPERATION AND DEVELOPMENT (OECD) 71 / 24-25, 73 / 10-12, 26-28, 74 / 6-7, ORGANIZATION FOR SECURITY AND COOPERATION IN EUROPE 72 / OVERGAS 71 / P PANATHINAIKOS ATHENS FOOTBALL CLUB 72 / PANTHEON 71 / 8-9 PASAL DEVELOPMENT 71 / PASOK 71 / 6-7, 40-42, 73 / 6-7, 14-16, 74 / 10, 12-16, PHOSPHORIC FERTILISERS INDUSTRY 73 / PIRAEUS BANK 71 / 8-9, 30-34, 73 / 24-25, 26-28, 46-47, 74 / PIRAEUS PORT AUTHORITY (OLP) 74 / 8-9 PISCINES IDEALES 72 / 8-9 PLOUMIS-SOTIROPOULOS REAL ESTATE 71 / POPULAR ORTHODOX RALLY (LAOS) 74 / 10 PPC RENEWABLES (PUBLIC POWER CORPORATION RENEWABLES) 72 / PRICEWATERHOUSE COOPERS 71 / PUBLIC DEBT MANAGEMENT AGENCY (PDMA) 71 / 22-23, 73 / PUBLIC POWER CORPORATION (DEH) 72 / 26-30, R RAINBOW 73 / 8-9 REGULATORY AUTHORITY FOR ENERGY (RAE) 72 / ROCKSPRING 71 / ROTHSCHILD GROUP 73 / S S&B INDUSTRIAL MINERALS GMBH 72 / SEA STAR CAPITAL 71 / 8-9, 72 / 8-9, 73 / 8-9 SINGULARLOGIC 73 / 8-9 SKYTRAX 72 / SONAE SIERRA-ACROPOLE CHARAGIONIS 71 / SWISSPORT 71 / 8-9 T TECHNICAL CHAMBER OF GREECE 71 / TEMES SA 71 / 46-50, 72 / 30 TERNA ENERGY SA 72 / TERNA GROUP 72 / THE COALITION OF THE RADICAL LEFT (SYRIZA) 74 / 10 THE COMMUNIST PARTY OF GREECE (KKE) 74 / 10 THESSALONIKI PORT AUTHORITY (OLTH) 71 / 8-9 THESSALONIKI WATER AND SEWERAGE COMPANY (EYATH) 73 / TRANSPARENCY INTERNATIONAL 71 / 8-9 U UNESCO 72 / UNITED NATIONS WORLD TOURISM ORGANIZATION (UNWTO) 71 / UNIVERSITY OF ATHENS 71 / URBAN LAND INSTITUTE 71 / V VIVARTIA 72 / W WINTERSHALL 71 / WINTERSHALL-OVERGAS (WIEE) 71 / WORLD BANK 71 / 8-9, 72 / 10-14, 36-37, 73 / 8-9, 74 / WORLD COUNCIL OF HELLENES ABROAD (SAE) 72 / WORLD TOURISM AND TRAVEL COUNCIL (WTTC) 71 / 24-25, WORLD WINE TRADE GROUP (WWTG) 73 / WWF 74 / A D V E R T I S E M E N T S A AEGEAN AIRLINES 74/15 ALPHA BANK 74/11 ASTICAN 71/43, 72/45, 73/43, 74/45 E ELLAKTOR 72/15, 74/52 EUROBANK EFG 71/52, 72/2, 73/2, 74/2 EUROPEAN BUSINESS PRESS 71/15, 72/11, 73/15, 74/23 G GREEK RICH LIST (MAGAZINE) 73/17, 74/23 H HOTEL GRANDE BRETAGNE 72/51, 74/27, 73/13 L LAVINIA - LASKARIDIS SHIPPING Co. Ltd. 72/41, 73/39, 74/43, 71/39 N NATIONAL BANK OF GREECE 71/51, 72/52, 73/52, 74/51 R REGENCY CASINOS 71/2, 72/17, 73/51, 74/17 T TECHNAVA 72/13 TERNA ENERGY S.A. 72/29 C O V E R T I T L E S MARCH 71 BANKING ON BETTER TIMES JUNE 72 GREEN IS GOOD OCTOBER 73 HIGHWAY TO (fiscal) HELL DECEMBER 74 OPTIMISM: NEW GOVERNMENT CAN GET ECONOMY BACK ON TRACK 5