x

Economy

Staikouras: Hellenic Vehicle Industry Can Now Become Lever for Growth

December 22, 2020

ATHENS — After six years of no progress and processes that went back and forth without result, the Hellenic Vehicle Industry (ELVO) could finally become a lever for growth for Greece's economy, especially in northern Greece, Finance Minister Christos Staikouras said on Tuesday. Staikouras was speaking after signing an agreement between the state and the highest bidder in the tender for ELVO, regarding the state's right to participate in the share capital of the new company ELVO 2020 with a share of up to 21 pct.

"The specific term in the tender was inserted due to ELVO's area of activity," Staikouras said, noting that it was a company with a long history that had been in special liquidation since 2014.

The minister noted that the company was now in a position to support the local community by creating many jobs, adding that the government will continue to work methodically and with determination to restructure the domestic industry on a sound basis.

 

RELATED

ATHENS - While Greeks pay income taxes up to 45 percent the government is going ahead with plans to tax multinational companies in the country at a rate of 15 percent, anticipating it will bring in 80 million euros ($86.

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

THE HAGUE (AP) — The United Nations’ highest court on Monday wrapped up historic proceedings into the legality of Israel’s 57-year occupation of lands sought by Palestinians for a future state, with most voices at the hearing arguing against the Israeli government.

NEW YORK (AP) — Donald Trump has appealed his $454 million New York civil fraud judgment, challenging a judge’s finding that Trump lied about his wealth as he grew the real estate empire that launched him to stardom and the presidency.

BUDAPEST, Hungary (AP) — Hungary’s parliament voted Monday to ratify Sweden's bid to join NATO, bringing an end to more than 18 months of delays that have frustrated the alliance as it seeks to expand in response to Russia's war in Ukraine.

NEW YORK (AP) — New York City is marking the anniversary of the 1993 bombing at the old World Trade Center that blew apart a van parked in an underground garage, killing six people and injured more than 1,000.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.