Arsakeio Arcade in Athens to turn into Gastronomy Centre

Legendary Food is planning to turn the Arsakeio Arcade in Athens into a food hall with artisanal, gourmet and organic products from all over Greece. Legendary Food was founded by two former bankers, Vangelis Kontzias and Panagiotis Triantafyllopoulos, brand strategist Peter Economides and businessman Aris Kefaloyannis. They plan on investing an initial amount of € 12 million, while sources state that Greek shipping merchants are also behind this new business venture. The Arsakeio Arcade project will cover an area of 11,000 sqm and will include stores with products from around Greece. Food and wine workshops, cooking classes for all ages, restaurants and major franchises will also be included

Greek Ministry of Development announces Subsidised Loans for Thomas Cook-affected Businesses

On Monday, 23 December 2019, the Greek Ministry of Development announced that Greek businesses that have been affected by the collapse of Thomas Cook can apply to receive loans at subsidised interest rates. Greek Deputy Minister of Development, Mr Yiannis Tsakiris, explained that the total budget for the announced loans is € 100 million. The Fund for Entrepreneurship II (TEPIX II) will provide € 40 million, while the banks that are affiliated with the Hellenic Development Bank’s Fund for Entrepreneurship II (TEPIX II) will contribute € 60 million. Mr Tsakiris further explained that “The Development Bank’s contracts for these loans are already at the banks for signing and for the application

Greece announces 14% increase in cruise ship arrivals in 2019

The Hellenic Ports Association (ELIME) announced a 14% increase in cruise ship arrivals and a 16% increase in passenger traffic in Greece in 2019. Cruise ship arrivals in 43 Greek ports reached 3,899 ship arrivals in 2019, up from 3,410 in 2018. Passenger arrivals reached 5,537,500 people in 2019, up from 4,788,642 in 2018. Piraeus Port continued its place as the top cruise ship destination in Greece, welcoming 622 cruise ships and 1,098,091 passengers in 2019. Other leading ports in 2019 include: Santorini: 592 cruise ships; 980,771 passengers Mykonos: 550 cruise ships; 784,490 passengers Rhodes: 258 cruise ships; 308,194 passengers Souda (Chania): 132 cruise ships; 265,956 passenger

Bulgartransgaz to acquire 20% of Greece’s Gastrade

Bulgartransgaz has announced the purchase a 20% share in Greece’s Gastrade S.A. Gastrade is a project company owned by Copelouzos Group and the Natural Gas Company of Greece (DEPA). This investment confirms Greece’s attempt to transform itself into an energy transport hub and provides for important future revenue streams. Gastrade is building a liquified natural gas (LNG) import terminal near Alexandroupolis in northern Greece. The terminal will have an estimated annual capacity of 6.1 billion cubic metres (bcm), which will be supplied to Bulgaria and other Balkan countries through the Interconnector Greece-Bulgaria (IGB) natural gas pipeline. The LNG will be supplied by supplies fro