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Athens News Agency: News in English, 10-06-28

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Large load of Argentine lemons confiscated at port of Piraeus
  • [02] NBG denies share cap hike
  • [03] Tax revenue at 32.6% of GDP
  • [04] Stocks end 0.91% down

  • [01] Large load of Argentine lemons confiscated at port of Piraeus

    (ANA-MPA) -- A total of 77.8 tons of lemons imported from Argentina were found unsafe for consumption and were blocked at the port of Piraeus, following inspections by Piraeus prefecture and customs officers.

    A considerable number of rotten lemons were found in each of the 4,320 paper boxes loaded in three large containers, according to an official statement issued.

    Five shipments weighing 196.5 tons were found unsafe since the beginning of the year and were not allowed to reach the domestic markets.

    [02] NBG denies share cap hike

    (ANA-MPA) -- National Bank of Greece (NBG) on Monday dismissed press reports alleging it was mulling a share capital increase plan.

    In an announcement, Greece‚s largest financial institution, said it did not intend to proceed with a share capital increase plan, given its strong capital base. (ANA-MPA)

    It is obvious, the bank stated, that sustaining and improving this strong capital base was a priority for National Bank amid the current economic situation. (ANA-MPA) In this framework, National Bank was constantly examining all ways to achieve its target and was committed to timely inform investors over its actions towards this direction, the announcement read.

    [03] Tax revenue at 32.6% of GDP

    BRUSSELS (ANA-MPA) -- Tax revenue in Greece accounted for 32.6 pct of GDP in 2008, significantly below the EU-27 and Eurozone average rates of 39.3 pct and 39.7 pct, respectively, Eurostat announced here on Monday.

    In a report on taxation trends in the European Union, the EU executive‚s statistics agency said Greece recorded the biggest VAT increase in the last decade and one of the biggest declines in corporate taxes in the EU. (ANA-MPA)

    VAT rates rose from 18 pct in 2000 to 19 pct in 2009 and 23 pct in 2010, the biggest increase in the EU-27, followed by Cyprus (VAT rate rose from 10 pct in 2000 to 15 pct in 2010). The value added tax rate rose from an average 19.2 pct in 2000 to 20.2 pct in 2010. Sweden, Denmark and Hungary (25 pct) topped the list with the highest tax rates, while Luxembourg and Cyprus (15 pct) recorded the lowest tax rates. (ANA-MPA)

    Implicit tax rates on labour was the largest source (ANA-MPA) of tax revenue in the EU, accounting for more than 40 pct of tax revenues, followed by consumption tax (around 25 pct) and capital taxes (around one/fifth of tax revenue).

    [04] Stocks end 0.91% down

    Stocks ended lower in the first trading session of the week in the Athens Stock Exchange. The composite index of the market fell 0.91 pct to end at 1,447.15 points, with turnover shrinking to 71.99 million euros. The Big Cap index fell 1.07 pct, the Mid Cap index ended 1.19 pct lower and the Small Cap index eased 0.37 pct. The Telecoms (2.80 pct) and Utilities (1.83 pct) sectors scored gains, while Health (3.14 pct) and Raw Materials (2.56 pct) suffered the heaviest percentage losses of the day.

    Broadly, decliners led advancers by 95 to 59 with another 50 issues unchanged. Epsilon Net (8.70 pct), Vell Group (8.26 pct) and Nexans (8.05 pct) were top gainers, while ANEK (14.81 pct), Karamolegos (9.72 pct) and Karatzi (9.35 pct) were top losers

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