x

Society

Only Five Greek Firms in Europe’s Top 1000 for R & D

January 5, 2018

In another sign of how hard Greece’s more than 7 ½-year-long economic crisis has hit the private sector, only five firms are in the top 1000 in Europe for research and development, a telling benchmark.

The 2017 EU Industrial R&D Investment Scoreboard published by the European Commission, which also tracks companies from other continents, said the to Greek enterprise was pharmaceutical industry Pharmathen, ranking 370th among firms in Europe. It implemented R&D spending of 49.92 million euros ($60.12 million) last year, up by 12.7 percent from the year before.

National Bank of Greece ranked second among Greek firms and 456th in Europe after investing 37 million euros ($44.59 million)  in R&D, up by 15.6 percent from 2016. In 460th place is Galaxidi Marine Farm,  with a 3.5 percent annual increase in R&D spending to 36.2 million euros, some $43.62 million.

Gambling and gaming solutions supplier and operator Intralot put 14.6 million ($17.59 million) euros into R&D last year, up by 17.9 percent from 2016, to rank 733rd in Europe, followed by Creta Farm, which spent 7.16 million euros ($8.63 million) in research and development (down 13.8 percent) to rank 988th in Europe.

Topping the global chart were Germany’s scandal-wracked Volkswagen with 13.6 billion euros ($16.39 million) ahead of Google’s Alphabet, and Microsoft.

There was some good news though as the number of new businesses created in Greece in 2017 increased by 5.7 percent and the number of those closing fell fell by 34.8 percent compared to last year with more people taking a chance a recovery is coming even though banks have largely cut back on small business loans.

The figures came from an analysis of data listed in the Economy Ministry’s business portal (GEMY) registry, the business newspaper Naftemporiki said, which found that 30,0777 new businesses opened in 2017 while 24,046 shuttered their doors. That was a sharp change from 2016 when 28,463 opened and 36,881 closed, the empty storefronts across Athens and other cities a reminder the crisis is far from over.

RELATED

ATHENS - On the one-year grim anniversary of a head-on train crash just outside a tunnel in central Greece, which killed 57 people, promises made in the immediate aftermath to add long-delayed safety measures haven’t been met.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

NYC Officials Shutter Furniture Store Illegally Converted to House More than 40 Migrants

NEW YORK (AP) — A New York City furniture store that had been illegally converted into sleeping quarters for more than 40 migrants has been shut down by city officials.

WASHINGTON — The Supreme Court on Wednesday agreed to decide whether former President Donald Trump can be prosecuted on charges he interfered with the 2020 election and set a course for a quick resolution.

ATHENS - On the one-year grim anniversary of a head-on train crash just outside a tunnel in central Greece, which killed 57 people, promises made in the immediate aftermath to add long-delayed safety measures haven’t been met.

WASHINGTON — Senate Republicans have blocked legislation that would protect access to in vitro fertilization, objecting to a vote on the issue Wednesday even after widespread backlash to a recent ruling by the Alabama Supreme Court that threatens the practice.

KUNA, Idaho  — Idaho halted the execution of serial killer Thomas Eugene Creech on Wednesday after medical team members repeatedly failed to find a vein where they could establish an intravenous line to carry out the lethal injection.