How the world sees Greece
PAOK's soccer team, which was penalized three points for fan hooliganism, erased it with a 3-0 victory over Atromitos in Greek Super League play.
The post PAOK Plays Off Penalty Points appeared first on The National Herald.
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The Greek Orthodox church in the Holy Land has dismissed an Israeli Arab priest who publicly voiced support for Christian Arabs serving in Israel's army, a church spokesman said Thursday. Spokesman Issa Musleh told AFP that ecclesiastical authorities decided Tuesday to fire Father Gabriel Nadaf from his post in Nazareth, but were only now making their decision public.
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NEW YORK – Joseph R. Ficalora, President and Chief Executive Officer of New York Community Bancorp, Atlantic Bank’s parent company, in his first interview with The National Herald after the passing of Spiros Voutsinas, the president of Atlantic Bank, characterized him as a “great man.” Through its recent advertisements in TNH, the bank, in addition […]
The post Joseph Ficalora on the Passing of Voutsinas and the Search for a Successor appeared first on The National Herald.
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Oscar-winning actor Juliette Binoche is set to return to the London stage in a new adaptation of Antigone.
Binoche, known for her on-screen roles in The English Patient and Chocolat, will take a starring role in the new translation of Sophocles's Greek tragedy at London's Barbican centre in March 2015.
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Prime Minister Antonis Samaras said the country is on a comeback and has to leave the past behind, taking a shot at the major opposition SYRIZA Leftists.
The post Samaras Takes Aim at SYRIZA appeared first on The National Herald.
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The environmental group Greenpeace said Greece should withdraw a bill that would let developers run amok on Greece's coastline and build where they want.
The post Greenpeace Rips Greek Coast Building appeared first on The National Herald.
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By John Syragakis The over-the-top Greek fantasy film 300: Rise of an Empire begins with the historically accurate account of Xerxes after the battle of Thermopylae seeking out Leonidas on the battlefield and beheading him. In the film’s opening shot Xerxes carries out the act astride a mount and swinging down a battle axe to […]
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Nestled on a Pindus Mountain slope in Northern Greece is the quaint town of Metsovo. Home to less than 3,000 residents, Metsovo offers visitors a chance to experience an authentic Greek village lifestyle. With well-preserved traditions, guests may be pleasantly surprised to discover that some of the town’s oldest residents still dress in customary Greek […]
The post Tradition Alive in Metsovo appeared first on The National Herald.
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NICOSIA — Sheikh Muhammad Nazim Adil al-Qubrusi al-Haqqani, a leading figure of Sufism, the mystical branch of the Islamic faith, died May 7 at the age of 92 in the north of ethnically-divided Cyprus. Imam Shakir Alemdar, the vice grand mufti of Cyprus, confirmed the death. The imam hailed the Cypriot-born Sheikh Nazim as one […]
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Whenever I see the turnout for European and local elections, my heart sinks. It peaked at 38.5% in 2004. Last time in 2009 it was 34.7%. I find myself unable to reconcile so many people perpetually complaining about the EU and the democratic deficit which exists in its institutions, with two-thirds of the population failing to register their political preference. Mixed in with that is a cultural difference. Having been born in Greece, four years into a crushing junta, I grew up to perceive democracy as precious and voting as a civic responsibility, rather than an optional perk.
There is another important factor, however. These are the only elections in which I am allowed to vote. As a non-British European, I get no say in the general election, along with the many millions of Europeans (including 2 million Britons) who chose to make a life for themselves somewhere other than the country of their birth. So, the European and local elections have come to mean a great deal to me.
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Good morning! Here's what you need to know.
Chinese Exports Surge. China's exports climbed by 0.9%, beating expectations for a 3.0% decline. The growth rate, however, is most likely much high as experts agree that last year's stats were artificially boosted by false trades largely to Hong Kong. "Export growth data was inflated by around 10pp in April last year based on our estimations," said Bank of America Merrill Lynch's Ting Lu. "So actual export growth could be around 10% in April if we adjust for this distortion, compared to 4-5% of adjusted exported growth in March." Meanwhile, imports increased by 0.8%, which was much stronger than the 2.1% drop expected. China's trade surplus increased to $18.5 billion.
Big Bank Woes. Five years after the global financial crisis, we continue to hear about banks scrambling to restructure and reinvigorate their operations. Earlier today, Barclays confirmed speculation that the it would be cutting its headcount. Management expect to let go of 19,000 employees over the next three years in its plan to boost long-term profitability.
Tesla Tumbles. Tesla shares are down by around 5% in premarket trading. The electric car maker announced Q1 adjusted earnings per share of $0.12, which was better than the $0.07 expected by analysts. The company delivered 6,457 models S during the period, which was also better than most analysts' forecasts. "We still plan to invest $650-850 million for the year in capital expenditures for increased production capacity, growth in our store, service center and Supercharger footprints, Model X and S development and start of Gigafactory construction," said Musk. "With all these initiatives, we expect to be slightly free cash flow negative in 2014, before considering the equity required for leasing."
Greece's Labor Market Nightmare. Greece's unemployment rate fell to 26.7% in February. Unfortunately, we can only say "fell" because January's unemployment rate was revised up to 27.2% from an earlier estimate of 26.7%. The unemployment rate for those 15 to 24 years old is at a horrific 56.8%.
Market Update. Markets around the world are in the green. In Asia, Japan's Nikkei closed up 0.9% and Hong Kong's Hang Seng climbed 0.4%. In Europe, Britain's FTSE, France's CAC 40, and Germany's DAX are all up by around 0.5%. U.S. stock market futures are modestly in the green.
Bank Of England Does Nothing. As expected, the BoE kept its benchmark interest rate unchanged at 0.5% and its asset purchase plan unchanged £375 billion.
European Central Bank May Tweak Its Policy. At 7:45 a.m. ET, the ECB announces its monetary policy decision. Economists expect the bank to keep its benchmark interest rate unchanged at 0.25%. "At today’s meeting, we expect the ECB to end SMP sterilisation, but do not look for action on rates or asset purchases," said Societe Generale economists. SMP sterilisation means that the ECB is offsetting its stimulative asset purchases with sales elsewhere. "In light of the data published since the last ECB meeting (robust business confidence, inflation figures close to expectations, and slightly better news from the ECB bank lending survey), the chances of ECB action on rates or asset purchases have fallen."
Jobless Claims. At 8:30 a.m. ET, the Department of Labor will publish its latest tally of weekly initial unemployment insurance claims. Economists estimate claims fell to 325,000 from 344,000 a week ago. "Initial jobless claims have trended higher in the past couple weeks," noted Nomura economists. "We need to observe claims in coming weeks to determine if this trend continues and if there has been any deterioration in labor market performance."
FedEx's New Price Plan. The WSJ's Laura Stevens reports that FedEx will charge its ground packages by size and dimensions instead of weight.
The Rise Of Alibaba's Jack Ma. The NYTimes' Neil Gough and Alexandra Stevenson have an interesting profile of Jack Ma, the found of Chinese e-commerce behemoth Alibaba. "The first time Jack Ma used the Internet, in 1995, he searched for “beer” and “China” but found no results," they report. "Intrigued, he created a basic web page for a Chinese translation service with a friend. Within hours, he received a handful of emails from around the world requesting information."
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