DOCSLIB.ORG

Athens Conference

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Athens Conference Short Presentation Objectives of the event Conditions and priorities for the start over At a time at which the "appointment" of the Greek economy with the desired primary “surplus”, is imminent, businesses and households remain in anticipation for the restart of the real economy. Under what conditions could this be implemented? What are the critical areas for sustainable development? Which are the priorities and which is the common resultant of the political parties? And also, what can be done to immediately improve the existing businesses in the country and particularly in critical areas such as energy, industry, construction, tourism and information technology that contribute significantly to employment? These are some of the key questions that this forum through broad participation of representatives of the political arena, business, banking, science and institutions, will attempt to answer comprehensively. Energy management “in the constellation” of development At the same time, specifying as always on hot business topics, the forum will highlight the more comprehensive economic, environmental, investment, business, technological and social benefits from the sustainable energy management at all levels. From the energy production to the various stages of distribution and consumption of large and small customers, the efficient use of energy, currently provides direct business development opportunities and significant competitive advantages. The implementation of "smart" networks and remote-controlled meters and the gradual replacement of the old electric power metering systems in every house, has already started in Greece and many other European countries, bringing significant changes in everyday life. But the more comprehensive investments implemented in the transmission and distribution of electricity, as well as, in gas distribution networks, contribute additionally to the objective of rationalization management. Much is being said about the cost of energy during the recession, both in Europe and in Greece. Regarding the large businesses and industry of our country, where management options in energy costs are often associated with their survival, are there ways and means to do this more competitively? And also, how is the current role of alternative suppliers and producers formed, especially under the conditions of healthy competition in a liberalized energy market? Energy upgrading of buildings and the construction sector The last part of the forum concerns the efficient energy management in the wider building sector, which is the largest consumer of energy and in the context of the new European objectives. The financial pressure of the crisis and the objective of reducing pollution and energy imports, are pushing Europe into implementing greater energy savings. Greece – embracing the recent EU Directive (Autumn 2012) for energy upgrading of buildings (mandatory for all member-states) - will send to the EU, the registration of public buildings and its initial proposals in relation to the planed savings. All the major companies will also be involved at the procedure. In this new context, the renewal of the building stock of Greece 1 (which is old and one of the most energy consuming in Europe) is urgent. Given the existing needs, the energy upgrade of large buildings and houses will offer, according to recent studies, new opportunities of activity in the construction industry. It will improve the quality of life and work in buildings and increase their market prices. The goal concerns the motivation through existing programs and the NSRF, as well as, possibly new funding opportunities. In the residential sector, the "save at home" program already simplifies procedures and is probably going to convert from a loan to a subsidy process after the recession. In large buildings, the emerging market for energy services, highlights the catalytic role that the Energy Service Companies (ESCO) may have for the installation and operation of integrated energy management systems of long duration and securing the funding, but also the legal requirements. The bioclimatic architecture, the use of solar thermal energy, the energy independence, the establishment of specific building conditions, the energy performance certificates, the institution of the energy audit, the standardization systems, the 'green' building materials are sectors which also benefit from the shift in energy building upgrades. As is turns out, contributors to this shift are the local communities with several Municipalities and Regions which move already with their own financial resources in this direction. Target Audience Representatives from political parties and ministries, financial firms, insurance agencies, banks, energy and construction companies, heavy industry, equipment and technology suppliers, information technology companies, architectural and design firms, real estate developers, representatives of hotels, hospitals, schools, shopping centers and other buildings, scientific, legal and investment advisers, interested municipalities and academic entities which cooperate with the forum, will be present demonstrating their own interest and expressing opinion on what should be done. Presentations of projects, programs and technologies During the forum, project presentations, financial instruments and programs, as well as, technologies will take place, as in all previous forums. Collaborating Institutions The forum takes place in the context of the initiative “Recharging Growth” with the cooperation of the European Commission (European Commission Representation in Greece, Directorate of Energy Efficiency EU, EU Regional Policy Directorate), Ministry of Environment, Energy & Climate Change, Ministry of Development, Infrastructure, Transport and Networks, Invest In Greece, Technical Chamber of Greece, Coalition for Energy Savings, as well as, a number of important scientific and business entities, CRES, NATIONAL CENTER FOR SCIENTIFIC RESEARCH DEMOKRITOS, Hellenic Electricity Association (H.EL.AS), HAIPP, Hellenic Electricity Generators Association from Renewable Energy Sources, Hellenic Union of Industrial Consumers of Energy (UNICEN), Industries Association of Thessaly and Central Greece, SATE, PEDMEDE, Hellenic Wind Energy Association, HELAPCO, SPEF, PASYF and many others (detailed list of which will be sent shortly with the semifinal program). Venue: Hotel Divani Caravel Possible Dates: 2-3 July 3-4 or July A First Approach of Contents and Program First Day OPENING REMARKS European Parliament, European Commission, Prime Minister's Office, representatives of political leadership of Ministry of Environment and the Ministry of Development, representatives of political parties, etc. 2 (Invited among others: Mr. Chrysanthos Lazaridis, MP, member of the Special Permanent Committee on Environmental Protection, Mr. Yiannis Maniatis, former Vice-Minister of Energy, Secretary General of the PASOK Parliamentary Group, Mr. John Milios, Head of Economic Policy, SYRIZA EKM) First panel: The development we wish for Topics: The areas identified by the government and political parties as a priority to restarting growth. The proposals of banks and relevant scientific entities for development. The enduring contribution of the energy and the necessary recovery of the construction sector. The investments which are in priority. The prospects for the stock market. Privatization and the revival of the investment climate. Participants (to be confirmed): . Invest in Greece Representative (President Mr. A. Syngros has been invited) . Economic Research Division of Alpha Bank (Mr. Michael Masourakis - Senior Manager of Division & Member of the Executive Committee of Foundation for Economic & Industrial Research (IOBE) has been invited) . National Bank Representative (Directorate of Strategy and Economic Analysis) . Management Representative of Athens Stock Exchange . Hellenic Republic Asset Development Fund (TAIPED) Representative (President Mr. S. Stavridis has been invited) . Athens University (Mr V. Rapanos, Professor of Finance has been invited) . Centre of Planning and Economic Research (KEPE) or McKinsey company Representative . Other participants from Greece and abroad (international and European banks have been invited) . Representative of European Investment Bank (Mr. Evangelos Antonaros, communications consultant for Greece and Cyprus) . Other Representatives Second panel: Sustainable development and management of energy resources Topics: The EU strategy aiming to reduce energy imports and achieve energy self-sufficiency. The overall benefits will flow to the real economy and businesses from rationalized energy management at all levels. The recording of energy consumption and correlations between energy consumption and production. The valuation of energy costs and the identification of ways to improve energy efficiency. The economic benefits that may result from this process. The options in the production, distribution and use of energy to protect the environment, while maintaining and improving the competitiveness of enterprises. The proposals of SEV’s Council for Sustainable Development and the contribution of each company in the development of Greek entrepreneurship. Participants (to be confirmed): . Mr. Stavros Dimas, a former EU Environment Commissioner . Representative of the Hellenic Federation of Enterprises (SEV) Council for Sustainable Development (Mr. Efthimios Vidalis, President) . Mr. Kyriakos Mitsotakis, MP, member of Special Permanent Committee on Environmental
Load more

Recommended publications
  • Annual Report and Annual Bulletin Group Overview
    Annual Report and Annual Bulletin Group Overview €2.2 billion invested in expansion and modernization since 2000 Six-fold Turnover growth since 1992 (from €267 million to €1,497 million) Fully active in four major regions – 58% of Turnover outside Greece and Western Europe Successful vertical integration – Non-cement products now 41% of Turnover Consistent cost reductions in all areas of operation CSR focus – First Company in Greece to sign the United Nations Global Compact A growing employer – Nearly fourfold employee growth since 1992 (from 1,554 to 6,034) KEY FINANCIALS 2003-2007 (thousand EUROS) 2007 2006 2005 2004 2003 Τotal assets 2,325,864 1,976,612 1,802,864 1,533,767 1,499,184 Ιnvested capital 1,741,587 1,407,247 1,317,409 1,065,223 1,003,031 Shareholders’ equity(1) 1,172,827 1,080,189 922,988 650,519 530,282 Turnover 1,496,915 1,568,109 1,341,727 1,142,474 1,066,531 EBITDA 425,863 480,671 389,173 318,472 301,704 Earnings before tax and minority interest 300,346 380,823 293,068 242,605 196,762 Earnings after tax and minority interest 239,739 259,185 210,128 176,951 122,872 Basic earnings per share(2) 2.85 3.07 2.50 2.11 1.46 Net dividend 63,399 63,338 50,598 43,747 39,868 Dividend per share(2) 0.75 0.75 0.60 0.52 0.47 Number of shares as at December 31st 84,532,574 84,485,204 84,330,124 84,129,224 83,932,824 2007 2006 2005 2004 2003 Interest coverage ratio 10.05 14.71 11.40 12.66 9.86 Net debt to EBITDA ratio 1.34 0.68 1.01 1.30 1.57 Return on invested capital(3) 15.5% 19.3% 17.9% 17.4% 14.3% (1): Shareholder’s equity has been restated for 2005 due to a change in the accounting treatment of dividends payable to shareholders, as required by IFRS.
    [Show full text]
  • EUR XINT M G-EM HL Greece P EUR Index
    Created on 31st July 2019 XINT M G-EM HL Greece P EUR Index EUR The XINT M G-EM HL Greece P EUR Index covers the highly liquid and liquid segment of the Greek equity market. The index membership comprises the 8 largest companies by freefloat adjusted market value and represents aproximately 85% of the Greek market. INDEX PERFORMANCE - PRICE RETURN EUR 110 100 90 80 70 60 50 Aug 2017 Nov 2017 Feb 2018 May 2018 Aug 2018 Nov 2018 Feb 2019 May 2019 Index Return % annualised Standard Deviation % annualised Maximum Drawdown 3M 32.57 3M 26.74 From 24 Jan 2018 6M 51.32 6M 21.27 To 20 Nov 2018 1Y -6.63 1Y 25.19 Return -41.26% Index Intelligence GmbH - Grosser Hirschgraben 15 - 60311 Frankfurt am Main Tel.: +49 69 247 5583 50 - [email protected] www.index-int.com TOP 8 Largest Constituents FFMV million Weight Industry Sector Hellenic Telecom. Organization SA 19.41% 3,049 19.41% Telecommunications Alpha Bank SA 15.59% 2,449 15.59% Banks Eurobank Ergasias SA 14.56% 2,287 14.56% Banks Greek Org. of Football Prognostics SA 14.47% 2,273 14.47% Travel & Leisure JUMBO SA 12.23% 1,921 12.23% Personal & Household Goods National Bank of Greece SA 9.26% 1,454 9.26% Banks Motor Oil Hellas Corinth Refineries SA 8.69% 1,365 8.69% Oil & Gas Titan Cement Company SA 5.78% 908 5.78% Construction & Materials Total 15,707 100.00% This information has been prepared by Index Intelligence GmbH (“IIG”).
    [Show full text]
  • The Mineral Industry of Greece in 2016
    2016 Minerals Yearbook GREECE [ADVANCE RELEASE] U.S. Department of the Interior October 2019 U.S. Geological Survey The Mineral Industry of Greece By Sinan Hastorun The mineral industry of Greece held leading positions 23%; gypsum, by 20%; sulfur, by 19%; limestone, by 18%; globally in the production of bentonite, huntite, perlite, and marble, by 14%; and pumice, by 13%. Gold output decreased pumice. In 2016, Greece was the world’s 2d-ranked perlite by 82%; crude attapulgite clay, by 58%; nitrogen (N content of producer, 3d-ranked pumice producer, 4th-ranked bentonite ammonia), by 37%; lignite coal, by 29%; pozzolan (santorin producer, 9th-ranked magnesite producer (not including the earth), by 24%; crude bentonite, by 21%; and processed United States), and 10th-ranked bauxite producer. The country bentonite, by 15% (table 1; Ministry of Environment & accounted for 30% of world perlite output; pumice, 5%; and Energy, 2017). bentonite, 4%. Greece was the sole European Union (EU) member state that produced nickel and ferronickel from its own Structure of the Mineral Industry laterite deposits (table 1; Ministry of Environment & Energy, Most mineral companies were privately owned. Government 2015, p. 11; Bennett, 2018; Bray, 2018a, b; Crangle, 2018; ownership was limited primarily to coal and nickel. The West, 2018). Government held a 55.2% stake in LARCO G.M.M. S.A., Greece has substantial nonfuel mineral deposits. These which was a leading nickel producer and the largest ferronickel include deposits of such metals as bauxite, copper, gold, iron producer in Europe in terms of output, and a 34.12% stake in ore, magnesite, nickel, silver, and zinc and such industrial Public Power Corp.
    [Show full text]
  • Winter in Prague 144 Companies Representing 15 Countries Can Be Selected for Meetings Online
    emerging europe conference Winter in Prague 144 companies representing 15 countries can be selected for meetings online Atrium / X5 / Banca Transilvania / Torunlar REIC have recently signed up click here Registration closes on Friday Tuesday to Friday 4 November For more information please contact your WOOD sales representative: 29 November to 2 December 2016 Warsaw +48 222 22 1530 Prague +420 222 096 452 Radisson Blu Alcron Hotel London +44 20 3530 0611 [email protected] Companies by country Bolded confirmed Companies by sector Bolded confirmed Austria Hungary Romania Turkey Consumer Financials Healthcare TMT Atrium ANY Biztonsagi Nyomda Nyrt. Banca Transilvania Anadolu Efes Aegean Airlines Alior Bank Georgia Healthcare Group Agora AT&S Magyar Telekom Bucharest Stock Exchange Arcelik AmRest Alpha Bank Krka Asseco Poland CA Immobilien MOL Group Conpet Bizim Toptan Anadolu Efes Athex Group (Hellenic Exchanges) Lokman Hekim AT&S Conwert OTP Bank Electrica Cimsa Arcelik Banca Transilvania CME Erste Bank Wizz Air Fondul Proprietatea Coca-Cola Icecek Astarta Bank Millennium Industrials Cyfrowy Polsat S.A. Immofinanz Hidroelectrica Dogan Holding Atlantic Grupa BGEO Ciech LiveChat Software PORR Poland Nuclearelectrica Dogus Otomotiv Bizim Toptan Bank Pekao Cimsa Luxoft Raiffeisen Bank Agora OMV Petrom Ford Otosan CCC Bank Zachodni WBK Dogus Otomotiv Magyar Telekom RHI Alior Bank Romgaz Garanti Coca-Cola Icecek Bucharest Stock Exchange Ford Otosan O2 Czech Republic Uniqa AmRest SIF-2 Moldova Halkbank DIXY CSOB Grupa Azoty Orange Polska Vienna Insurance Group Asseco Poland Transelectrica Lokman Hekim Eurocash Erste Bank Grupa Kęty OTE Warimpex Bank Millennium Transgaz Migros Ticaret Folli Follie Eurobank HMS Group Turk Telekom Wienerberger Bank Pekao Pegasus Airlines Fortuna Garanti Industrial Milk Company Wirtualna Polska Holding Bank Zachodni WBK Russia Sabanci Holding Gorenje Getin Noble Bank Intercars Croatia CCC DIXY Teknosa Hellenic Petroleum Halkbank Mytilineos Atlantic Grupa Ciech Gazprom Tofas Kernel Hellenic Bank Pegas Nonwovens Podravka Cyfrowy Polsat S.A.
    [Show full text]
  • Hellenic Equities: a New Start-July 2015
    Hellenic Equities: A New Start-July 2015 In view of the imminent Hellenic stock market re-opening sometime in the short term future we attempt to re-value our preferred picks and affirm our investment thesis. It is more than obvious that in such extraordinary circumstances with low visibility and high volatility in the market and financial /fiscal operations, any assumptions regarding valuations fall under certain culprits. At the core of our problem lies the Risk free rate crucial for our model. We have utilized both the normalized scenario of 6.50% R.f. rate and the 10.50% stressed R.f. rate to better evaluate our picks. We are obliged to pinpoint that at 11.00% current 10yr Hellenic Government Bond yield both our scenarios fall short. Our fundamental research indicates as top picks in our Hellenic Equities Universe the following listed stocks: Coca Cola Hellenic (CCH), OTE Hellenic Telecommunications Organization (HTO), Aegean Airlines (ARAIG), Mytilineos Holdings (MYTIL), Metka S.A (METK), Hellenic Organization of Football Prognostics (OPAP), Titan Cement (TITK) and Hellenic Exchanges Group (EXAE). Additionally we have a positive view on Motor Oil, Thrace Plastics, Kri Kri S.A, Thessaloniki Sewage Company and Terna Energy S.A from smaller capitalizations. Coca Cola Hellenic Bottling operates largely in a broad geographical area covering the Balkan markets, Russia, certain parts of Europe and Greece. The Company is headquartered in Switzerland, a relocation offering an improved risk- return profile due to the significantly lower risk premium. We expect Coca Cola Hellenic to preserve its strong Cash Flow ability and regard it a safe and value play on Greek Equities.
    [Show full text]
  • John Hancock Emerging Markets Fund
    John Hancock Emerging Markets Fund Quarterly portfolio holdings 5/31/2021 Fund’s investments As of 5-31-21 (unaudited) Shares Value Common stocks 98.2% $200,999,813 (Cost $136,665,998) Australia 0.0% 68,087 MMG, Ltd. (A) 112,000 68,087 Belgium 0.0% 39,744 Titan Cement International SA (A) 1,861 39,744 Brazil 4.2% 8,517,702 AES Brasil Energia SA 14,898 40,592 Aliansce Sonae Shopping Centers SA 3,800 21,896 Alliar Medicos A Frente SA (A) 3,900 8,553 Alupar Investimento SA 7,050 36,713 Ambev SA, ADR 62,009 214,551 Arezzo Industria e Comercio SA 1,094 18,688 Atacadao SA 7,500 31,530 B2W Cia Digital (A) 1,700 19,535 B3 SA - Brasil Bolsa Balcao 90,234 302,644 Banco Bradesco SA 18,310 80,311 Banco BTG Pactual SA 3,588 84,638 Banco do Brasil SA 15,837 101,919 Banco Inter SA 3,300 14,088 Banco Santander Brasil SA 3,800 29,748 BB Seguridade Participacoes SA 8,229 36,932 BR Malls Participacoes SA (A) 28,804 62,453 BR Properties SA 8,524 15,489 BrasilAgro - Company Brasileira de Propriedades Agricolas 2,247 13,581 Braskem SA, ADR (A) 4,563 90,667 BRF SA (A) 18,790 92,838 Camil Alimentos SA 11,340 21,541 CCR SA 34,669 92,199 Centrais Eletricas Brasileiras SA 5,600 46,343 Cia Brasileira de Distribuicao 8,517 63,718 Cia de Locacao das Americas 18,348 93,294 Cia de Saneamento Basico do Estado de Sao Paulo 8,299 63,631 Cia de Saneamento de Minas Gerais-COPASA 4,505 14,816 Cia de Saneamento do Parana 3,000 2,337 Cia de Saneamento do Parana, Unit 8,545 33,283 Cia Energetica de Minas Gerais 8,594 27,209 Cia Hering 4,235 27,141 Cia Paranaense de Energia 3,200
    [Show full text]
  • Company Update Strategy to Penetrate New Markets Pays Off
    Metka Greece/ Basic Resources Company update Investment Research Reason: Estimates Revision 3 June 2013 Buy Strategy to penetrate new markets pays off Recommendation unchanged Share price: EUR 10.70 Despite the uncertain global economic environment, Metka’s strategy to closing price as of 31/05/2013 penetrate new markets in Africa and Middle East bears fruits, securing Target price: EUR 13.80 new EPC contracts that help replenish backlog. Metka’s attractive from Target Price: EUR 12.70 investment case remains intact due to: a) solid position in a broad region Reuters/Bloomberg MTKr.AT/METTK GA (SE Europe, Middle East, Africa) which is characterized by substantial Daily avg. no. trad. sh. 12 mth 46,695,000 opportunities due to rising demand and high infrastructure needs, b) Daily avg. trad. vol. 12 mth (m) 488,890.88 increasing importance of natural gas as the fuel of choice for thermal Price high 12 mth (EUR) 12.70 power plants, c) strong balance sheet estimating a net cash position of Price low 12 mth (EUR) 5.55 c.EUR 190m by the end of 2013 and c.EUR 260m by the end of 2014. In Abs. perf. 1 mth -7.2% this framework, we raise our target price to EUR 13.80 from EUR 12.70 Abs. perf. 3 mth -12.3% Abs. perf. 12 mth 82.9% previously, reiterating our Buy recommendation. Market capitalisation (EURm) 556 Metka’s backlog currently stands at around EUR 1.0bn, conservatively Current N° of shares (m) 52 excluding from our estimates the second awarded project in Syria with a budget of EUR 678m as opposed to the first project which is in an Free float 43% advanced phase.
    [Show full text]
  • GREK-Factsheet.Pdf
    Global X MSCI Greece ETF ETF Category: International Access ± Single-Country GREK As of 8/31/2021 KEY FEATURES FUND DETAILS Inception Date 12/07/2011(1) MSCI All Greece Select 25/50 Efficient Access Underlying Index Index Efficient access to a broad basket of Greek securities. Number of Holdings 27 Assets Under Management $162.18 mil Total Expense Ratio 0.58% Distribution Frequency Semi-Annually Targeted Exposure Targeted single country exposure. TRADING DETAILS Ticker GREK CUSIP 37954Y319 Exchange NYSE Arca Bloomberg IOPV Ticker GREKIV Unique Offering Index Ticker M1CXGXA The first and only ETF to directly target Greece. PERFORMANCE (%) TOP 10 HOLDINGS (%) Holdings Subject to Change Since 1M YTD 1Y 3Y 5Y Inception Hellenic Telecom 15.78% Public Power Corp 4.57% NAV 4.77% 13.45% 43.23% 5.94% 8.02% -3.04% Alpha Services A 10.45% Piraeus Financial 4.53% Market 4.98% 14.22% 44.09% 6.27% 8.12% -3.07% Opap Sa 8.23% Titan Cement Int 3.56% Price Eurobank Ergasia 8.20% Motor Oil (hellas) Sa 3.53% Hybrid 4.76% 13.69% 43.96% 6.70% 8.78% -2.19% Index(2) National Bank Of Greece 4.73% Mytilineos S.a. 3.52% The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. High short- term performance of the Fund, when observed, is unusual and investors should not expect such performance to be repeated.
    [Show full text]
  • FIL COPY RESTRICTEDTRIC FILE CO0PY Report No
    FIL COPY RESTRICTEDTRIC FILE CO0PY Report No. DB-32a Public Disclosure Authorized This report was prepared for use within the Bank and its affiliated organizations. They do not accept responsibility for its accuracy or completeness. The report may not be published nor may it be quoted as representing their views. INTERNATIONAL BANK FOR RE'CONSTRUCTION AND DEVELOPMENT INTERNATIONAL FINANCE CORPORATION INTERNATIONAL DEVELOPMENT ASSOCIATION Public Disclosure Authorized APPRAISAL OF THE NATIONAL INVESTMENT BANK FOR INDUSTRIAL DEVELOPMENT S. A. (NIBID) Public Disclosure Authorized October 31, 1967 Public Disclosure Authorized Development Finance Companies Departrnent CURRENCY EQUIVALENTS US$ 1.00 - Dr 30 Dr 1.00 = US$ 0.033 Dr 1,000,000 = US$ 33,333.33 APPRAISAL OF THE NATIONAL INVESTMENT BANK FOR INDUSTRIAL DEVELOPMENT S.A. This report is based on the findings of a mission to Greece in August 1966, composed of Messrs. D. Gustafson and S. Gupta of IFC, and a follow-up visit in September 1967 by Mr. Gustafson. TABLE OF CONTENTS Paragraph Page SUMMARY i - viii i - ii I INDUSTRY IN GREECE 1 - 8 1 - 3 Growth and Composition of Industry 1 1 Characteristics of Greek Industry 2 - 5 1 - 2 Treaty of Athens 6 2 Recent Investment Levels and Prospects 7 - 8 2 - 3 II FINANCIAL ENVIRONDMENT 9 - 19 3 - 6 General Setting 9 3 Interest Rates 10 3 Financing of Industry 11 h Commercial Banks 12 - 13 4 Hellenic Industrial Development Bank 14 - 15 5 The Securities Market 16 - 17 5 -. 6 Investment Banks 18 6 Other Institutions 19 6 III NIBID!S OGANIZATION 20 - 34
    [Show full text]
  • Market Reforms and Urban Disparity: the Cases of Athens & Thessaloniki Antonis Kamaras July 2004
    Market Reforms and Urban Disparity: The cases of Athens & Thessaloniki Antonis Kamaras July 2004 The Hellenic Observatory The European Institute London School of Economics & Political Science Acknowledgements I am grateful to George Pagoulatos who has offered me extremely valuable advice and has read various versions of this paper more times than he would care to remember. I have also been greatly helped by Lila Leontidou’s comments and was encouraged by her open-minded reception of this foray of mine in urban studies. Loukas Tsoukalis’s criticism went, as usual, to the heart of the matter, for which much thanks. Professor Featherstone dealt with an almost perfect stranger with a sense of fairness that can still come as a surprise, where I come from. I also very much appreciate the comments of the anonymous reviewer. He or she helped me crystallize my thinking on several issues which had previously been obstinately elusive. Several friends have also been generous with their time, putting thought to paper in their helpful advise to me. Titan Cement, Eurobank and 3E provided funding for the initial stages of my research for this paper, for which I am also grateful. As usual, I am responsible for any errors or deficiencies that the paper might contain. The views expressed in this paper are my own. 2 Table of Contents INTRODUCTION........................................................................................................4 MAKING A CAPITAL ...............................................................................................8
    [Show full text]
  • Delos Small Cap Domestic Equity Fund H.C.M.C
    DELOS SMALL CAP DOMESTIC EQUITY FUND H.C.M.C. Rule 113/04.03.1999 Risk Profile NBG Asset Management MFMC 103-105 Syngrou Avenue 117 45, Athens Greece Tel. +30 210 900 7400 Fax.+30 210 900 7499 www.nbgam.gr The investment objective of the Mutual Fund is the highest possible return, through the capital appreciation of its investments. The Mutual Fund mainly invests in a well-diversified equity portfolio, focusing on mid and small market capitalization stocks listed mainly in the Athens Stock Exchange. Report Date 30/06/2016 FUND INFORMATION PERFORMANCE MUTUAL FUND VS BENCHMARK Currency EUR 3 Years Cumulative Return (30/06/2013- Fund Size (mm) 28,15 30/06/2016) Launch Date 2/4/1999 ISIN GRF000038007 60% 40% Benchmark HELLENIC MID & SMALL CAP INDEX 20% Bloomberg Code DELSCDE GA EQUITY 0% RETURNS -20% Ytd 1 Year 3 Years (01/01/2016- (30/06/2015- (30/06/2013- -40% 30/06/2016) 30/06/2016) 30/06/2016) -60% FUND BENCH Mutual Fund -7,67% -19,60% -33,30% Benchmark* -4,65% - -26,53% +/- -3,02% - -6,77% STATISTICAL DATA (3 years rolling) (30/06/2013-30/06/2016) ASSET ALLOCATION Fund Bench Cash/Other Sharpe Ratio -0,37 -0,28 9,8% Annualised Standard Deviation 29,90% 31,56% Maximum Monthly Return 20,39% 26,30% Minimum Monthly Return -17,99% -17,87% Months with Positive Return 15 15 Months with Negative Return 21 20 Top 10 Holdings Equity 90,2% JUMBO SA 5,5% TITAN CEMENT CO-PREF 4,9% Sector Breakdown LAMDA DEVELOPMENT SA 4,5% TITAN CEMENT CO.
    [Show full text]
  • Frequently Asked Questions1 Regarding the Acceptance Period of the Voluntary Tender Offer Made by Titan Cement International S.A
    Frequently Asked Questions1 regarding the Acceptance Period of the Voluntary Tender Offer made by Titan Cement International S.A. 1. What does the Tender Offer mean for shareholders of Titan Cement S.A.? Titan Cement International is making an offer to holders of Titan shares in permitted jurisdictions, to exchange their shares, either ordinary or preferred, for new shares in Titan Cement International on a one-for-one basis. Provided that the Tender Offer is successfully completed, existing Titan shareholders will become shareholders of Titan Cement International and their shares will be eligible for trading on Euronext Brussels, the Athens Exchange and Euronext Paris following the necessary regulatory listing approvals. 2. What are the principal objectives of the Tender Offer? Titan Cement International has highlighted the benefits to be derived from such a move as being that: • it better reflects and enhances the international nature of TITAN Group’s business activities; • it links the Group with a large international stock exchange, offering a broader and deeper investor base and enhances liquidity of its traded shares; and • it broadens the Group’s funding sources, improving its access to both the international debt capital markets and international banking institutions, to achieve more competitive financing costs. This Tender Offer fully reflects the international outlook and footprint of TITAN Group. Its proposed implementation should mark another milestone in the Group’s historical development and contribute significantly to the Group’s international competitiveness and future growth. 1 Important Notices: • The content of this document does not replace either the Information Circular released by Titan Cement International S.A.
    [Show full text]