backlogs of work shrank, a survey showed yesterday. Markit’s Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about 10 percent of the Greek economy, rose to a four-month high of 49.3 points last month from 48.3 in November. A reading below 50 denotes a contraction in activity. Manufacturers saw a further decline in new orders, including from abroad. They cited softer demand and the instability of the country’s financial sector, although the fall was the weakest since September. term. The Hellenic Financial Stability Fund said the term of the new CEO will be renewable but cannot run beyond the end of June 2020. The two candidates previously chosen by a selection panel had opted out because the initial term ran only until next June. New applicants have until January 22 to put their names forward.
NCH Capital, a New York-based investment fund, plans to spend about 100 million euros to build a luxury seaside holiday resort on Corfu, it said on Friday. Under a privatization scheme, part of a third international bailout signed last year, Greece on Thursday concluded the lease of a 108.3-acre plot, Cassiope, to NCH Capital for 23 million euros.