Ellaktor subsidiaries land projects in Sofia
Athens-listed construction firm Ellaktor announced late on Friday that the consortium of Aktor and Ilektor – both Ellaktor subsidiaries – has signed a contract for the study, construction, operation and maintenance of an integrated system of refuse management installations for the City of Sofia, in Bulgaria, and the construction of a unit for the organic processing of refuse and the production of refuse-derived fuel (RDF), following a tender by the municipal authorities of the Bulgarian capital. The project’s budget is estimated at about 90 million euros, not including value-added tax, and is sub-
The Athens Exchange is reopening today after yesterday’s Epiphany holiday, with its general index starting at 1,205.51 points. The price decline in most international markets yesterday may weigh heavily on the local bourse today.
Cyprus experienced deflation in 2013 for the first time in 49 years according to the country’s statistical service. The consumer price index in the crisis-battered Republic of Cyprus suffered a 0.4 percent yearly decline last year, following a decline of 2.3 percent in December on an annual rate. In November prices had shrunk by 2.1 percent and in December 2012 prices had grown by 1.1 percent. The statistical agency noted on Friday that the phenomenon of deflation in December 2013 was mostly due to the reduction in electricity rates, on air ticket prices and in the cost of potatoes and certain types of clothing. However, some categories of fresh vegetables saw prices rise last month.
The Turkish national currency has fallen to a new low in a sign that the government corruption scandal is taking its toll on the economy. Prime Minister Recep Tayyip Erdogan was forced to reshuffle his government after three ministers’ sons were among dozens of people detained in a vast police corruption and bribery investigation last month. The head of a state-owned bank was also arrested. Erdogan’s government has rejected the corruption allegations, pointing fingers instead at an alleged conspiracy to hurt his government ahead of local elections in March. But the political instability is unnerving investors. The Turkish lira reached a record 2.19 against the US dollar and 2.97 against the euro on Monday. It has slid more than 7 percent against the dollar since the scandal first broke out on December 17.
sidized by the European Union’s Cohesion Fund. Its construction is estimated to take 19 months.