US in­ves­ti­gat­ing Greek welded pipe ex­ports

Kathimerini English - - Focus -

The US De­part­ment of Com­merce an­nounced on Mon­day the ini­ti­a­tion of an­tidump­ing duty in­ves­ti­ga­tions into im­ports of large di­am­e­ter welded pipe from Canada, China, Greece, In­dia, South Korea and Tur­key, and coun­ter­vail­ing duty in­ves­ti­ga­tions into im­ports of large di­am­e­ter welded pipe from China, In­dia, South Korea and Tur­key. Ac­cord­ing to 2016 data, im­ports of large di­am­e­ter welded pipe from Greece amounted to $70 mil­lion. The US In­ter­na­tional Trade Com­mis­sion (ITC) is sched­uled to make its pre­lim­i­nary in­jury de­ter­mi­na­tions on or be­fore March 5. If the ITC de­ter­mines that there is a rea­son­able in­di­ca­tion that im­ports of large

launched an in­ter­na­tional ten­der to sell a 5 per­cent stake in its big­gest tele­coms op­er­a­tor OTE, a key term of the coun­try’s in­ter­na­tional bailout. Greece has raised about 4.7 bil­lion eu­ros from pri­va­ti­za­tions since it signed its first bailout in 2010 and aims to raise an­other 3 bil­lion by 2019, a year af­ter its cur­rent res­cue pro­gram ex­pires. Pri­va­ti­za­tion agency TAIPED said the ten­der process would be con­ducted in one phase and set a March 15 dead­line for in­ter­ested in­vestors to sub­mit of­fers for the stake, which cor­re­sponds to 24.5 mil­lion shares. OTE, the for­mer na­tional monopoly, is 40 per­cent owned and man­aged by Ger­many’s Deutsche Telekom, which has a right of first re­fusal to buy the shares but has not yet said if it will ex­er­cise that right. Greece holds a 10 per­cent stake in OTE, which has a mar­ket value of 5.7 bil­lion eu­ros and is Greece’s sec­ond- big­gest listed com­pany by mar­ket value af­ter Coca-Cola HBC. The coun­try has ear­marked 250 mil­lion eu­ros from the stake sale in this year’s bud­get plan. OLP earn­ings. Pi­raeus Port Author­ity (OLP) has an­nounced its pre­tax prof­its dou­bled in 2017, which is at­trib­uted to in­creased rev­enues from the port’s com­mer­cial sec­tion. Fig­ures show that turnover rose to 111.5 mil­lion from 103.5 mil­lion a year ear­lier – a 7.7 per­cent in­crease – with pre­tax earn­ings at 21.2 mil­lion eu­ros, from 11 mil­lion in 2016. di­am­e­ter welded pipe from Canada, China, Greece, In­dia, Korea and Tur­key ma­te­ri­ally in­jure, or threaten ma­te­rial in­jury to the do­mes­tic in­dus­try in the US, the in­ves­ti­ga­tions will con­tinue, and the De­part­ment of Com­merce will be sched­uled to an­nounce its pre­lim­i­nary CVD de­ter­mi­na­tions on April 17 and its pre­lim­i­nary AD de­ter­mi­na­tions on July 2, though these dates may be ex­tended.

Euro­pean travel group TUI said yes­ter­day that sum­mer trad­ing has been very good with book­ings for Greece, Tur­key and Cyprus all grow­ing strongly. should press on with eco­nomic and fi­nan­cial re­forms to boost growth needed to cre­ate badly needed jobs and achieve in­come con­ver­gence with the Euro­pean Union that it as­pires to join. The IMF board last week signed off on a re­view of Bos­nia’s 553-mil­lion-euro, three-year loan pro­gram and ap­proved a dis­burse­ment of a 74.6-mil­lioneuro loan tranche af­ter the Balkan coun­try met key re­quire­ments. The global lender re­leased 79.2 mil­lion eu­ros for eth­ni­cally di­vided Bos­nia’s two au­ton­o­mous re­gions in 2016, but the new in­jec­tion was held up for a year due to a fail­ure to im­ple­ment agreed steps to lib­er­al­ize the econ­omy. In its re­port fol­low­ing the re­view, the IMF said it had sup­ported Bos­nian au­thor­i­ties’ re­quest for a 12-month ex­ten­sion of the loan deal and reschedul­ing of pay­ments. It also agreed to re­quested waivers on non-ob­ser­vance of the per­for­mance cri­te­ria, say­ing the de­vi­a­tions were tem­po­rary and small.

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