How the world sees Greece
The Greek culture and language will be taught in Guangdong University of China, one of the best Chinese Universities with global distinction. Through its Philosophy Department, the National and Kapodistrian University of Athens (EKPA) is opening its doors ...
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The Taiwanese diplomatic representation in GREECE has expressed disappointment at the news published in Kathimerini's Tuesday edition that the ...
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GREECE will enter the European Central Bank's quantitative easing (QE) program “soon,” Finance Minister Euclid Tsakalotos told Bloomberg in an ...
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… we will be sorry that Greece are not there, that we … campaign for Greece, though now that the finals are on, Greek fans … an unexpected following in Athens. Greek fans are as keen as … . Current coach Fernando Santos led Greece to UEFA EURO 2012 and …
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The mythical Palace of Nestor, considered to be the best example of a well-preserved Mycenaean palace in all of Greece, is reopening to visitors on June 12, after a three-year 2.5-million-euro restoration, the culture ministry announced on Tuesday. Lying some four kilometers south of the village of Chora on the hill of Epano Eglianos and
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Afghan migrants take part in a protest demanding better living conditions at a reception center near Malakasa, north of Athens, on Wednesday.
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HELL'S KITCHEN — A GREEK and Mediterranean restaurant is moving into the base of the Durst Organization's pyramidal West 57th Street building ...
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Greek Foreign Ministry sources on Wednesday fully rejected Turkish claims regarding respect for religious freedoms in Greece, calling them absolutely baseless, and again called Turkey to order over the Koran readings in Hagia Sophia. “If Turkey has not ...
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A small island off the coast of Crete, Spinalonga is a unique experience for those touring the Greek islands. With a remarkable history, from Venetian fortress to leper colony to tourist site, Spinalonga is certainly worth a visit. Ferry service from the main island of Crete is available from Elounda, Plaka, and Agios Nikolaos. Small
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Should GREECE leave the Euro? That was the title of the Oxford debate at the Prague Summit in which I had the pleasure of participating yesterday.
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Dimitrios Mardas, GREECE'S deputy minister of foreign affairs, used today's Korean-Hellenic Maritime Cooperation Forum to invite Korean investment in ...
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[athleisure activewear spoof] Guys, we've talked about this. After missing analysts' earnings estimates by one penny, Lululemon CEO Laurent Potdevin extolled the virtues of his company's new loose tops for layering and its menswear strategy. He sounded excited about opening 18% more square footage of stores over the quarter, and he praised his company for being "channel agnostic." It was a lovefest, and the only people more excited on the call than the CEO were the analysts. At least twice during the call, Potdevin's optimistic rundown of the company was met with an even more enthusiastic "great quarter ... really challenging environment ... really challenging ... great quarter" from Wall Street analysts. Once upon a time, Business Insider's Myles Udland highlighted a quote from SunTrust Robinson Humphrey Analyst Eric Selle, who told Bloomberg that telling management they had a great quarter is "like everyone getting a medal in soccer ... It's the most embarrassing thing to say as an analyst." It's even more embarrassing because the biggest problem with Lululemon — high inventory levels cutting into gross margins — is still very much out there. A STORY ABOUT TOPS While topline sales growth grew, thanks in part to the fact that Lululemon opened more stores, inventory levels also rose 21%, to $286.2 million from $236.5 million at this same time last year. That means more clothes are getting stuck in Lululemon's pipeline, depreciating in value and thinning margins. To deal with this, the company sold $39.2 million worth of discounted merchandise through pop-up stores, warehouse sales, outlets, and the like. Last year, it sold $25.8 million. To help with that process, over the last year the company has also opened seven more outlets to "ensure liquidation capacity for our growing full price business," according to CFO Stuart C. Haselden. Later, he mentioned that the company was going to keep focusing on inventories in order to "maintain the integrity of pricing." This is important, because price markdowns can change how customers view the entire Lululemon product. The store used to _never_ have sales — it was a luxury product, basically, and customers expected that. But the reality of fast fashion and the intrusion of competitors into the athleisure market (Nike, Bandier, Beyonce) have changed all that. Lululemon has to keep up with trends and style changes. That means its inventory pipeline has to speed up, and it has — the company has a whole team on it, and Potdevin gave them a nice shoutout on the call, too. That speed, though, means that older clothes that are depreciating in value have to be sold off even faster. "They sell fashion and in-season goods," Laurent Vasilescu, a retail analyst at Macquarie, said in a phone call with Business Insider. "That puts you in the markdown business" — whether Lululemon likes it or not. THE SPIRIT OF THE QUARTER To be fair, Lululemon did have an an ever-so-slight increase in gross margins. But that was caused by cost-cutting, and it would've been healthier if it weren't "offset with higher markdowns compared to Q1 as final steps to complete the rebalancing of our inventories," as Haselden said on the call. So when will we see more? All Potdevin could say was that the company's "return to gross margin growth" would be "taking shape in Q2"— which should probably sound familiar to anyone who's been watching the stock for the last 13 or so quarters. But, hey, Lululemon has managed to keep its stock price up, partly through $432.2 million in share buybacks, while lowering its capital expenditure. So maybe that's what a "great quarter" is really about. Listen to Business Insider's Linette Lopez and Josh Barro break down Lululemon on their podcast, Hard Pass, below: SEE ALSO: WALL STREET CAN'T SEEM TO SEE THROUGH LULULEMON Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: How I dealt with stress when Greece nearly defaulted
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Catch a movie under the stars while in Greece at one of the magical open-air cinemas of Greece. The smell of jasmine, a soft summer breeze and a cool beer at hand is the stuff Greek summer nights are made of. Cine Thisio (foot of the acropolis, 7 Apostolou ...
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Boil-water advisory for Greece Town Hall and 11 homes A boil-water advisory was issued after dye accidentally got into the water supply. Check out this story on DemocratandChronicle.com: http://on.rocne.ws/1XaIybb
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[Migrants, who attempted to flee the Libyan coast to head to Europe, are seen after being detained at the fishing port in the coastal city of Tripoli]By Gabriela Baczynska BRUSSELS (Reuters) - European Union ministers will look on Friday into ways of stemming the flow of migrants who set sail for Europe from Libya and elsewhere in north Africa after a deal with Turkey has cut arrivals via Greece to a trickle. The EU fears the central Mediterranean route to Italy may become the main one now as calmer seas encourage more people to try the perilous journey. The EU is also worried about the long-term impact of massive migration from Africa.
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[Libyan soldiers manning a military outpost, stop a car at a checkpoint in Wadi Bey, west of the city of Sirte, which is held by Islamic State militants, in this February 23, 2016 file photo. REUTERS/Ismail Zitouny/Files]Thomson Reuters Greek authorities intercepted a huge quantity of synthetic opiates that arrived in the country's busy Piraeus port last week from New Delhi, reportedly disguised and labeled as household linen. The shipment of opiates — specifically 26 million tablets containing the prescription painkiller Tramadol — were bound for Libyan shores, and authorities are investigating whether the Islamic State had anything to do with it. The US Drug Enforcement Agency (DEA) reportedly tipped off the Narcotics and Arms Division of Greece's Financial Crimes Unit (SDOE) about the haul — with an estimated street value of $13 million — due to arrive from India. Loukas Danabasis, director of the SDOE, told Reuters that the companies involved in this trafficking incident "had been previously involved in such transfers." The receiving company in Libya, Danabasis added, "is characterized as being suspect of having relations with the Islamic State." VICE News was unable to verify if the recent bust was being investigated for links to the Islamic State. However, Russell Baer from the DEA was able to confirm that large quantities of Tramadol are frequently trafficked between New Delhi and Libya, and that the North African country has emerged as a "significant hub for Tramadol trafficking" in the region over recent years. Since 2015, Baer says, law enforcement officials from Dubai, Egypt, Malta, Singapore, and Spain have seized nearly 200 million Tramadol tablets, all of which were bound for Tobruk, a Libyan port city on the Mediterranean near the Egyptian border. According to the United Nations Office on Drugs and Crime, there are loopholes in the laws that regulate India's vast pharmaceutical industry, making it possible to easily divert drugs like Tramadol on a large scale from legitimate manufacturers to the black market. Baer says that Tramadol is a popular drug in Egypt, the Middle East, and in West Africa because it's potent, available and inexpensive. Drug traffickers are working to ensure that their shipments of Tramadol are large enough to satisfy the region's hunger for the prescription painkiller. [ISIS in Libya]Thomson Reuters Growing demand for the drug, particularly in unstable regions across the Middle East and North Africa (MENA) "poses potentially significant security threat to the region" according to Baer, who says there is an "increasing concern that insurgents and foreign terrorist organizations may further exploit the drug trade to finance their operations." Libya has been engulfed in lawlessness and chaos since the fall of former dictator Muhammar Qaddafi in 2011. Tripoli, the county's capital, and LIbya's second largest city Benghazi are dominated by Islamist rebels, including IS. IS militants have been suspected of financing some of their operations through drug trafficking in the past. When Syria's Aleppo fell to IS in January 2014, militants reportedly came into possession of a pharmaceutical plant capable of manufacturing the amphetamine Captagon. The drug is said to be popular among militants because its speed-like quality allows them to fight for longer without getting tired. The DEA's Russell Baer mentioned Captagon in his email to VICE News, noting that although it is banned in most countries since the mid-1980s, it continues to be manufactured and sold in the Middle East and North Africa. It's profitable, too – sold for pennies on the dollar and usually fetching about $20 per tablet on the street. As the region becomes increasingly unstable, the prevalence of both Captagon and Tramadol are seemingly on the rise. For example, VICE News spoke with pharmacists working in the narcotics lab of Baghdad's central hospital complex two years ago, who said that their caseloads had changed to include far more opiates – most notably, the painkiller Tramadol – and many more amphetamines, specifically Captagon. NOW WATCH: Scientifically proven features men find attractive in women
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Romania, the country in southeastern Europe least dependent on energy imports from Russia, may have to supply electricity and natural gas to households in Bulgaria and Greece in case of energy crisis in the region at the expense of Romanian industrial consumers, according to news website profit.ro. The proposal for energy supplies, which aims to impose the principle of energy solidarity in the EU, is part of the Energy Security Package of the European Commission, which is now before the bloc’s Council of Ministers. According to this principle, EU member states will be required to give priority to vulnerable consumers in neighboring countries at the expense of the gas needs of their own industrial consumers in case of major supply problems. Also, EU member states will have to give priority to supplying electricity to households in neighboring countries in the event of major disruptions under the proposal, according to profit.ro. Unlike Bulgaria, which imports from Russia almost all the gas it needs, and other countries in southeastern Europe, which also heavily depend on Russian gas supplies, Romania is least dependent on imports of Russian gas. Although all of Romania’s gas imports come from Russia, those imports only make up about a quarter of what the country needs to meet domestic demand, according to energy news website oilprice.com.
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The Budget Committee of German Parliament (Bundestag) postponed the decision for the release of the bailout tranche for Greece. on Wednesday. “We have not released yet the istallment of the next bailout tranche as the implementation of a small remnant of the agreed measures by the Greek Government is still […]
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A GREEK Foreign Ministry source rejected Ankara's claims about the Muslim minority in Thrace as “groundless,” noting that 320 mosques operate there.
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After it's baked it's topped with sugar water and honey," said Sophia Anest, one of the organizers of St. George GREEK Orthodox Church's huge Jersey ...
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He notes that the real challenge is for GREECE to recover its competitiveness and in that context underlines the need to reduce oligopolies and ...
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Piraeus said it agreed to sell its 33.8 percent stake in Trastor to Wert Red, a Luxembourg company wholly owned by Värde Partners which invests across a range of geographies and asset classes on behalf of private investment funds. As part of the deal ...
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Under a little-noticed part of Greece's concession to its creditors, one-third of the board members of the country's major banks will be ousted.
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Is there really anything new to be said in the “Men Behaving Badly” vein? Probably not, but in “Chevalier,” the Greek director Athina Rachel Tsangari gives us an entertaining catalog of the ways males in packs jockey for position, mainly a comic ...
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Greek Finance Minister Euclid Tsakalotos said that Greek bonds will soon be eligible for the European Central Bank’s asset-purchase program, in an interview with Bloomberg. He pointed to the benefits of this, including the gradual recovery of investor ...
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Cruise ship operators in Greece are showing concern about the cruise industry due to an ongoing strike by port workers who are protesting the sale of the country’s largest port to a Chinese company. According to Reuters, officials in Greece agreed to ...
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Greece had expressed its disapproval of Turkey's decision to use a former Greek Orthodox Christian basilica as a place for daily Quran reading during the Ramadan, the Islalmic month of prayer and fasting. "We condemn the announcement of the Turkish ...
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A 20-year-old Hilton man is facing charges for an armed robbery at a gas station in GREECE. Police say Corey Laucht is charged with robbery, grand ...
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I'm a photographer from Paris, and I've been travelling in GREECE for the last three weeks, starting in Athens. This shot was taken from Mount ...
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69% of Greeks are unable to keep up … ) on the state of the Greek economy. According to the the … about the direction of the Greek economy – with only 14% of …
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Doctors working in public hospitals gathered in downtown Athens to protest the admittedly horrible situation in Greece’s hospitals. Holding banners and chanting slogan, doctors and other hospital personnel demanded raise in the public funding and hiring of doctors and nurses. Tension between protesters and riot police. Protesters have been carrying […]
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Greek bonds will soon become eligible for the European Central Bank’s asset-purchase program, paving the way for an easing of capital controls, and the gradual recovery of investor confidence, Finance Minister Euclid Tsakalotos said. In an interview to Bloomberg, the Greek Finance Minister said also that once Greece is part […]
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Sacred to GREEKS and Christians throughout the world as the largest Orthodox Christian Church in the world for almost a thousand years and long a ...
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Though the church is one of Christianity's holiest shrines, its hallowed status has not prevented clerics from engaging in turf rivalries over the years, mainly those from the three major denominations that manage the site: Roman Catholic, Greek Orthodox ...
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Greek bonds will soon become eligible for the European Central Bank's so-called quantitative easing (QE) program, Finance Minister Euclid ...
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The GREEK Ministry of Environment and Energy has announced that it has granted Trans Adriatic Pipeline (TAP) its Installation Permit for Greece.
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All she could think of when she shattered record after record in recent races was— her yiayia. Her GREEK immigrant grandmother who played such a ...
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A UEFA EURO 2004 winner, Panagiotis Fyssas caught something of the national mood for the finals when he told LiveSport: "All of us who love football will be excited to watch the games, but we will be sorry that Greece are not there, that we will not hear ...
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Stock market crashes are sudden, scary, and surprisingly common. According to Christian Mueller-Glissmann, a strategist at Goldman Sachs, crashes of at least 20% are incredibly painful because of their rapid pace and long recovery times, but they're also more frequent than you may expect. Since 1950, there have been 57 such crashes in four of the world's major indexes (the US' S&P 500, the UK's FTSE All Share, Germany's DAX, and Japan's TOPIX). Mueller-Glissmann also notes that the drawdowns are beginning to happen in concert. Crashes in the 1960s, 1970s, and early 1980s were relatively disconnected. In recent instances, such as the tech bubble burst and the financial crisis, the precipitous drops have been more coordinated. [stock market crashes since 1950]Goldman Sachs NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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This event commemorates Qu Yuan, a patriotic poet from China’s Warring States Period (476-221 B.C.), with dragon boat races and cultural performances. The racing will be a real competition, with three rounds in a round-robin format determining the ...
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The Panhellenic Federation of Public Hospital Employees (POEDIN) has announced a 24-hour healthcare strike on Wednesday, along with a ...
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Quajado: Judeo-GREEK spinach souffle. A favorite of our Rhodesli family. Quajado is between a quiche and a kugel, but you really have to try it to ...
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… the 2016 Sani Festival in Greece. The annual festival, which takes … /pianist Hiromi; as well as Greek artists including Alkistis Protopsalti, and …
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Main opposition New Democracy leader Kyriakos Mitsotakis stressed the need for a different policy mix to get the country out of the crisis. Mitsotakis, who was speaking at a conference organized by Naftemporiki newspaper, accused the government that it sinks the Greek economy into recession if it sticks on the same policy. He explained that
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The Turkish Foreign Ministry has reacted strongly to Greece’s criticism of reading the Koran in Hagia Sophia in Istanbul throughout Ramadan. “The Greek Foreign Ministry’s statement with regards to TRT Diyanet TV’s sahur program entitled ‘Hagia Sophia at the time of abundance,’ which will be broadcast throughout the month of Ramadan, is unacceptable,” Foreign Ministry Spokesperson Tanju
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It was a turnabout by IMF Managing Director Christine Lagarde that doomed Greek hopes for immediate talks on debt relief.
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Posidonia 2016 is the recently formed Hong Kong Maritime and Port Board's (HKMPB) first overseas outing. Along with their counterparts from within the Hong Kong government such as representatives from the Transport and Housing Bureau, which is in charge of ...
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The days of young dance loving tourists flocking to Croatia for summer dance festivals may very well be a thing of the past. The Electronic dance scene in Greece this summer is made up of a show-stopping line up of well-known DJs including DJ Harvey ...
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A new ministerial decree posted on state website Diavgia on Tuesday night calls for cuts of up to 40 percent on supplementary pensions for 200,000 pensioners. The decree was signed by Deputy Labor Minister Tasos Petropoulos and is published in Tuesday’s ...
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Socceroos head coach Ange Postecoglou has insisted that the shock 2-1 loss against GREECE was not a wake up call. The home side went into the ...
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