K.M.’s investment breakfast with the 25 funds, Prokopis, Karachalios, Loulis and…the rest of the gang, the Israelis boosting real estate, the snakes in LNG

Hello, I watched the different nighttime Kyriakos Mitsotakis’ TV interrogation with the Wall Street Journal, successful which helium spoke for rather a portion astir everything the American writer asked him. To beryllium honest, I didn’t spot a person who is collapsing—generally, oregon specifically due to the fact that of the cancellation of his gathering with Erdogan. After all, arsenic you tin see, Erdogan has his ain issues (he did the aforesaid with Meloni), and helium tends to flare up with everyone and everything—including, of course, our “planetarch.” But of course, there’s a quality betwixt POTUS, the person of the planet, and the section dictator of the region. In immoderate case, we’ll spot whether this “non-meeting” volition disturbance up the calm waters and marque them murky—to get the (nice) header of Kathimerini yesterday. But however other tin I enactment it? Watch Mitsotakis talk and behave, adjacent erstwhile things aren’t going wholly his mode (c’est la vie, arsenic helium himself said), and comparison him with the alternative… Nikos A. of PASOK, the “I’m ready” guy, oregon whomever other you want. Then spell to slumber calmly astir what time whitethorn bring. Now, you mightiness say: what’s going to happen—will we participate an epoch of “Karamanlis oregon tanks,” but this clip arsenic “Mitsotakis oregon chaos”? The information is, nary 1 knows. Anyway, I deliberation we’ve got a agelong roadworthy up until the end—which is, of course, the elections.

10 trillion with Mitsotakis astatine the Aman

A large concern breakfast, with K.M. astatine the halfway and 25 representatives of large American companies, funds, banks, and security institutions, was held yesterday astatine the Aman Hotel successful New York. The names—and particularly the worth of assets managed by these players—are genuinely huge. In total, we’re talking astir about $10 trillion (!) successful assets. The treatment included caller players arsenic good arsenic precise elder executives of organizations already known to the government. Here’s the list: Capital Group, with assets worthy astir $3.3 trillion; JP Morgan Asset Management, $3.7 trillion; Morgan Stanley Investment Management, $1.7 trillion; and galore more. For example: Paulson & Co., Point 72 Asset, Oakhill Advisors (with “only” $100 cardinal successful assets), Lazard, etc. The gathering was organized by George Linatsas of Axia Ventures successful collaboration with K.M.’s concern advisor Dimitris Politis (formerly of HRADF). Topics of involvement included technology, artificial intelligence, and galore Greek startups, arsenic good arsenic infrastructure—not lone accepted infrastructure, but besides AI-linked infrastructure (energy, information centers, etc.).

The gathering with pharmaceutical executives

In a much closed circle, K.M. besides had a gathering with 10–12 CEOs and elder executives of large pharmaceutical and beingness subject companies. The meeting, held astatine Pfizer’s offices, was co-organized by Albert Bourla (no further introductions needed) and Marc Casper of Thermo Fisher Scientific, which is simply a elephantine American biosciences and objective probe company. It’s worthy noting that Casper, who is already investing successful Greece, had been astatine the Maximos Mansion 2 weeks agone with his vice president, Gianluca Pettiti. Greece is seen arsenic a notation state for galore of these companies and besides has a “good name” acknowledgment to the prime of its quality capital.

The Atlantic Council menu

Still successful the U.S., K.M. besides visited the Atlantic Council, wherever helium had his archetypal gathering with the caller ambassador, Ms. Gilfoyle, who volition get successful Greece by mid-October. A roundtable treatment was held, with representatives of Gulf countries, including Anwar Mohammed Gargash, diplomatic advisor to the president of the UAE, representatives of respective companies progressive successful the Middle East, and others that “play ball” astatine a planetary consulting level. Also participating: UK Deputy Prime Minister David Lammy and the EU’s typical to the Gulf, Luigi Di Maio. From the Greek side, Mitsotakis was accompanied by Energy Minister Stavros Papastavrou. The treatment was moderated by Fred Kempe, president and CEO of the Atlantic Council, on with Theodoros Kyriakou, president of Antenna Group.

Time to get escaped of the “brat,” No. 2

I wrote a fewer days agone that my root told me: anyone who goes to Karamanlis’ bureau (Rafina) for a coffee—what other would they do, anyway—with the erstwhile premier minister, won’t person to hold agelong earlier proceeding him rant against Mitsotakis, saying: “Get escaped of that brat (or thing similar that), and fto anyone other come.” Now I adhd this: different large property of Rafina-Karamanlism, erstwhile President Prokopis [Pavlopoulos], speaks with the highest praise for Karystianou. Next to him, on with… the remainder of the gang, Nikos Karachalios and Giannis Loulis implicit the imagination team. Now, of course, their shared hatred for the “brat” unites them, adjacent though a “sentimental bypass” whitethorn beryllium needed, since Karystianou and the surname Karamanlis don’t precisely align. But I wonder: if each these enemies of Mitsotakis bash signifier parties—Samaras, Karystianou, Tsipras—who volition they permission behind, and who volition they broadside with? Something like… “Between Kiki and Coco, I conscionable can’t choose.”

Developments with Routsis?

The hunger onslaught of Panos Routsis continues, and if you noticed yesterday Floridis’ connection that, nether definite conditions, adjacent the ineligible announcement (exodiko) could beryllium interpreted arsenic a petition for exhumation, I would accidental don’t disregard it. I recognize that wrong the judiciary determination is immoderate question regarding the valuation of the concern and the disposable ineligible margins. Of course, exhumation and further investigative actions—such arsenic toxicological examinations, etc.—are 2 antithetic things and necessitate 2 abstracted judicial decisions. Further investigative actions decidedly necessitate a determination by the President of the Larissa Court of Appeal, arsenic was clarified precocious by the “heads” of the judiciary. However, a elemental exhumation to corroborate individuality done DNA can—at slightest theoretically—proceed much immediately.

The lawman minister’s wedding

Yesterday’s property league astir the GovGr Wallet revealed, successful summation to its caller features, a wedding: that of Deputy Minister of Digital Governance Christos Dermendzopoulos, who volition necktie the knot connected Saturday. The blessed quality was revealed by Minister Papastergiou portion helium was speaking astir certificates, noting that—although the groom is simply a Member of Parliament for Evros—the ceremonial volition instrumentality spot successful Athens, since the bride is from there. From this column: whitethorn their beingness unneurotic beryllium blessed!

How Israelis are boosting Greek existent estate

It is present a recorded inclination successful the Greek existent property market. Investors from Israel amusement a +70% summation compared to past year, having already obtained 271 Golden Visas—and the twelvemonth inactive has a fewer months to go. Athens dominates the concern landscape, representing astir 68% of each Israeli existent property acquisitions successful Greece. Preferences absorption connected neighborhoods specified arsenic Kolonaki, Koukaki, and Metaxourgeio, which connection profitable short-term rental opportunities. Crete is the adjacent astir fashionable destination, particularly for luxury villas adjacent Chania and Rethymno. The displacement of Israelis toward Greece is nary coincidence: a 100-square-meter flat successful cardinal Athens whitethorn outgo them astir $332,000. That’s astir one-third the outgo of a akin flat successful Tel Aviv, wherever prices are climbing alongside owe involvement rates. Greece offers stability, a favorable taxation framework, and important superior gains—within a beauteous Mediterranean situation charismatic to affluent Israelis.

Greek shipowners commencement to consciousness the compression with LNG carriers

Concerns look to beryllium spreading among the circles of Greek shipowners with fleets of LNG carriers, pursuing a caller survey by the UCL Energy Institute and the Kuehne Climate Center. According to the findings, planetary investments worthy $48 cardinal successful LNG vessels hazard turning into “stranded assets” by 2035, arsenic an oversupply of capableness is expected. Greek shipowners had entered the LNG marketplace aggressively implicit the past decade, viewing liquefied earthy state arsenic the span substance of the vigor transition. But the caller probe shows that, dissimilar crude lipid oregon LPG tankers that person alternate uses, LNG carriers are one-dimensional and hard to accommodate to different cargo. This means that if forecasts of declining request are confirmed, the worth of their fleets could travel nether crisp pressure. Now, with freight rates already beneath sustainable levels and planetary markets informing of oversupply—that is, excessively galore ships—there are whispers that immoderate large players successful the assemblage are reviewing their obligations with banks much often than they’d like. A Greek shipowner managing LNG carriers said that his books inactive forecast rising demand, but the occupation is that vessel contention is increasing, truthful freight rates volition fall. Overall, Greek shipowners power 169 LNG carriers, representing 24.5% of planetary capableness successful deadweight tons (dwt), portion besides being progressive successful shipbuilding programs. Maria Angelicoussis – Maran Gas has 15 connected order. George Prokopiou – Dynagas is moving a programme with 14 LNG carriers. Anna Angelicoussis – Alpha Gas has four. Peter Livanos – GasLog is gathering two, arsenic is Andreas A. Martinos Jr.

AEGEAN: Entering wintertime with +10% successful disposable seats

Let’s determination connected to aviation news, starting with AEGEAN, which is entering the wintertime play with 10% much disposable seats compared to past year—driven by the continuing and increasing appetite of Greeks for much travel. In an effort to dispersed postulation beyond the highest summertime tourism season, the radical besides plans to proceed respective important nonstop routes that launched during summer. Among them, arsenic AEGEAN’s Chief Ground Operations Officer Panos Nikolaidis mentioned successful his speech, are Heraklion–Munich and Heraklion–Constantinople, portion caller nonstop flights volition statesman from Thessaloniki Airport to destinations specified arsenic Prague and Constantinople. As for the fleet—where, arsenic is good known, the full Airbus 320/321neo bid amounts to 60 aircraft—39 person already been delivered. Among them are 4 Airbus A321neo LR and 2 Airbus A321neo XLR, with adjacent greater range, which volition serve, among different routes, the caller connections to New Delhi and Mumbai.

Fraport Greece: Sit backmost (and cod dividends)

Continuing with aviation news, Fraport Greece “A” decided, astatine its bonzer wide gathering connected September 22, to administer a full dividend of €30 cardinal for fiscal years 2023 and 2024. Fraport Greece “A” controls the archetypal of the 2 clusters of determination airports nether the group’s management, with 7 airports successful its umbrella. The amounts are allocated €9 cardinal for 2023 and €21 cardinal for 2024—a twelvemonth during which the 14 determination airports handled 36.03 cardinal passengers, an summation of 6.36% (+2.15 cardinal passengers) compared to 2023 levels. For this year, rider postulation maturation is estimated astatine +2.5% to 3%. Fraport Greece “A” is liable for the cognition of the airports of Aktio, Zakynthos, Kavala, Thessaloniki, Corfu, Kefalonia, and Chania. Passenger postulation astatine these airports successful 2024 was higher than successful 2023, up 5.75%, reaching a full of 19.89 cardinal passengers.

Euronext: Visits to Athens, but cards kept close

They travel and travel again, gathering with galore people. Euronext executives person been holding systematic discussions with the absorption of listed companies connected the Athens Stock Exchange, with Hellenic Exchanges (ATHEX) shareholders, and with ATHEX absorption itself. All indications are that Euronext volition soon record with the Hellenic Capital Market Commission the Prospectus for its nationalist offer. While the meetings are ongoing, for present Euronext has not yet revealed its hand, truthful we don’t cognize what percent of ATHEX it intends to pursue. The executives’ consciousness aft the meetings, however, is that listed companies connected the ASE are affirmative toward the imaginable of an acquisition.

Aktor unaffected by the placement

The divestment of Intracom Holdings from Aktor took spot astatine a terms of €7.2 per share, but this lone temporarily affected the trajectory of the latter’s stock, which remains connected way for multi-year highs. A fewer minutes aft the 2 ample blocks worthy €74.7 cardinal successful full for 5.09% of Intracom were transacted, Aktor slipped beneath €8. But it rapidly rebounded, closing astatine €8.19 with a summation of 0.24%. Intraday it reached €8.24—a grounds precocious not seen since August 2007, 18 years ago.

Lamda Development hits €8

Riding the momentum from the erstwhile day’s 4.8% jump, Lamda Development continued its upward trajectory for the 3rd consecutive session, and hasn’t posted a antagonistic adjacent since September 17. With a turnover of €8.1 cardinal and measurement supra 1 cardinal shares, it climbed to €7.82, refreshing its four-year high. Although it closed beneath the intraday highs, astatine 1 constituent it reached €8—a milestone not achieved since September 2021.

EYDAP’s disappointing results and 4 hours of complaints

The committee gathering of EYDAP the time earlier yesterday lasted much than 4 hours, yet confirming and approving precise mediocre half-year results. Cost of goods sold accrued by €15 million. Cash reserves dropped by €30 cardinal (without dividend distribution). Despite its oligopolistic marketplace position, the institution posted a loss-making fractional year. Unsurprisingly, discussions wrong the committee were peculiarly tense. The main question hanging implicit the institution concerns the absorption of large capitalist John Paulson, portion number representatives (Messrs. Skoularikis, Nistriotis) raised galore remarks and objections to the fiscal statements. The marketplace “rewarded” EYDAP’s banal with a -3.25% plunge to €6.85, dropping its marketplace capitalization to €729.5 million. Incidentally, it’s been six months that EYDAP has been searching for a caller caput of concern without success. But ne'er mind—after all, who said velocity is everything…

Avax’s Record

Avax pleasantly amazed the marketplace arsenic the fiscal results it posted successful the archetypal fractional of the twelvemonth reached the highest levels successful its history. The operation radical reported grounds gross of €467.5 cardinal (+61%), nett up 74%, and EBITDA +29% compared to the aforesaid play successful 2024. The task backlog stood astatine €2.76 cardinal (as of the extremity of September 2025), and arsenic noted successful the fiscal statements, the radical has signed contracts worthy €53 cardinal aft June 30, 2025, portion awaiting the results of respective tenders for PPPs, backstage and nationalist projects successful Greece, arsenic good arsenic vigor assemblage projects abroad. On the board, Avax’s stock trades astatine 5x EV/EBITDA, with marketplace capitalization present lasting astatine €368 million.

A Day of Many Small Bad News

Corporate results (EYDAP, ADMIE, and JUMBO) disappointed. European banal markets were falling. On Wall Street, healthcare stocks suffered aft the U.S. Department of Commerce announced it had “launched caller investigations, for nationalist information reasons, regarding imports of idiosyncratic protective equipment, aesculapian supplies, robotics, and concern machinery.” The U.S. cardinal banker did not hesitate to talk of “overvalued stocks.” Then came the quality of Russian planes implicit Alaska being intercepted by the U.S. Air Force, which tied unneurotic the bitter repast of yesterday’s session. The General Index traded permanently successful antagonistic territory and closed transactions adjacent the day’s debased (2,033.38 points) astatine 2,035.21 points, down -1.46%. Transaction worth was awesome astatine €372.01 million, but €162.9 cardinal of that came from artifact trades, the largest being €74.7 cardinal from Intralot’s divestment via a placement by the AKTOR group. Once again, the implicit prima of our banal marketplace league was Alpha Bank’s stock (+0.57% astatine €3.55), which not lone diverged from the antagonistic signs of the different systemic banks but besides stood retired for the transaction measurement that exceeded €88 million. National Bank (-0.98%) fought hard to bounds losses astatine €12.15, Piraeus (-2.75%) ended astatine €7.14, and Eurobank (-2.32%) fell to €3.29. Among refiners, the time earlier it was Motor Oil; yesterday it was HelleniQ Energy’s (+0.41%) crook to payment from beardown refining margins, on with VIOHALCO (+0.28%) astatine €7.27.

Decarbonization of Shipping Divides Shipowners

At the sidelines of a caller shipping event, the ambiance resembled a governmental thriller. Greek shipowners and officials acquainted with the workings of the International Maritime Organization (IMO) discussed with interest the upcoming ballot connected the afloat decarbonization of shipping. “It’s connected the edge,” they repeated, implying that the required two-thirds bulk of the 109 countries connected the Committee would beryllium hard to achieve. Even a constrictive support with a slim 51%-49% borderline would permission superior implementation issues. Criticism toward Europe was that it had “already taken a steadfast position,” leaving nary country for retreat. Much harsher were the remarks aimed astatine the U.S., with its stance described arsenic “unacceptable” for avoiding meaningful dialog and intervention, frankincense allowing the Organization to go divided. As experienced executives noted, unit for “global measures” without cosmopolitan statement is unsafe for a planetary manufacture similar shipping, which requires azygous rules. There was adjacent the thought that it would beryllium amended to postpone the ballot for six months and make an advertisement hoc moving radical to find much realistic solutions. “Otherwise, we hazard not lone unworkable measures but besides a rift wrong the IMO itself,” commented a well-known Greek stakeholder. Another subordinate admitted: “This is simply a travel into the chartless – and that’s what is astir frightening.”

The Former Engine of Europe

The latest forecasts bespeak that the German system is expected to shrink by -0.1% successful 2025, pursuing a -0.2% diminution successful 2024 and -0.3% successful 2023. The erstwhile motor of the European system suffers from insufficient concern successful nationalist infrastructure, higher vigor costs aft the cut-off of Russian earthy state (with prices inactive treble pre-crisis levels), aggravated contention from Chinese electrical conveyance manufacturers with superior artillery exertion and accumulation scale, rising labour costs owed to an aging population, and cumbersome bureaucracy. Indicatively, successful Germany of 2025, obtaining a concern licence requires astatine slightest 120 days. All this is reflected successful the Frankfurt Stock Exchange. The full marketplace capitalization of the German banal marketplace has shrunk from 2.4% to 2.1% of large planetary superior markets successful conscionable 3 months. Germany’s shrinking stock of planetary capitalization is not conscionable a numerical improvement but reflects the deeper situation of an economical exemplary that relied connected inexpensive energy, export advantage, and concern superiority – elements present nether question.