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Athens News Agency: News in English, 12-02-17

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

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Gov't cuts pensions to secure 'missing' 325 million euros
  • [02] ATEbank accepts bid to sell SEKAP to India's Bommidala Enterprises

  • [01] Gov't cuts pensions to secure 'missing' 325 million euros

    AMNA / The government on Friday announced that it will be cutting both main and supplementary pensions in order to secure budget cuts of 325 million euro demanded by its EU and IMF creditors in order to release bailout loans.

    There will be a 12 percent cut to main pensions above 1,300 euro a month, with the exception of NAT seamen's fund pension which will see reductions of 7 percent. These will include the 'gilt-edged' pensions paid out by public utilties and banks. amna

    The cuts will apply to supplementary pensions as low as 200-250 euro a month, which will see cuts of 10 percent, while those from 250-300 euro will be cut by 15 percent and those above 300 euro by 20 percent. Those below 200 euro will not be cut. www.amna.gr

    Labour ministry sources said the sums saved through the cuts amount to 400 million euro, and not the 300 million euro originally demanded, because the sums collected by cuts to other ministry budgets fell short by 100 million euro.

    [02] ATEbank accepts bid to sell SEKAP to India's Bommidala Enterprises

    AMNA / ATEbank on Friday said its board accepted a bid by Bommidala Enterprises Ltd to buy 1,849,171 common, nominal, voting rights shares, or 50.36 pct in SEKAP, a tobacco products industry owned by the bank.

    ATEbank, in an announcement, said that completion of the transaction is pending approval by competition authorities. www.amna.gr

    The bank said its board also accepted a bid by Eurofarm SA to buy 2,472,867 common, voting rights shares, or 99.98 pct in Hellenic Feed Industries SA and announced announced a decision to hold an international tender to sell AIKBANKA, its subsidiary in Serbia. ATEbank said it will hire Investment Bank of Greece and European Privatization and Investment Corporation (EPIC) as consultants to the sale. amna


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