Latest news with #Piraeus
Reuters
2 days ago
- Business
- Reuters
EU prosecutors uncover criminal scheme involving Chinese imports via Greece
June 26 (Reuters) - European prosecutors have uncovered a criminal scheme involving false documentation of Chinese imports to Europe through the Greek port of Piraeus that defrauded authorities of about 700 million euros ($820 million) in lost customs duties and VAT revenue. The investigation carried out by the European Public Prosecutor's Office (EPPO) spans 14 EU countries and involved raids in Greece, Spain, France and Bulgaria, the EPPO said in a statement on Thursday. Ten suspects were arrested, including two customs officers during more than 100 searches conducted at the offices of customs brokers and other locations on Wednesday. Law enforcement agents seized thousands of e-bikes and e-scooters, as well as 480 containers for further checks and verification in the Port of Piraeus, with freezing orders issued to seize real estate, boats and bank accounts. Some 5.8 million euros in different currencies were seized, including 4.75 million euros in Greece, as well as several firearms and other weapons seized in the houses of three of the suspects. Eleven properties in Spain were also seized, as well as 27 vehicles and luxury items, the EPPO said. The EPPO said the scheme involved several criminal networks mainly controlled by Chinese nationals who handled Chinese imports into the EU, their distribution and sales, as well as money laundering and sending the profits back to China, the EPPO said. After the goods from China arrive in the EU, mainly through the port of Piraeus, they are undervalued or misclassified to evade custom duties, cleared by customs brokers and sold to companies in other EU states through the scheme designed to avoid the VAT payment, the EPPO said. It added that the criminal organisations under investigation produce the false invoices and transport documents to conceal the real destination of the goods, and recruit a network of sham companies that sell the products at very competitive prices, since VAT remains unpaid and customs duties and anti-dumping fees are largely evaded. ($1 = 0.8541 euros)
Yahoo
2 days ago
- Sport
- Yahoo
Giannis Antetokounmpo Turns Heads With NBA Offseason Decision
Giannis Antetokounmpo Turns Heads With NBA Offseason Decision originally appeared on Athlon Sports. Fresh off another turbulent season with the Milwaukee Bucks—ending in a first-round exit—Giannis Antetokounmpo is making headlines again, as the rumors about his future have continued to grow. While no reports have been confirmed, there have been trade talks linking him to different teams in the NBA offseason. Advertisement On the trade front, franchises like the Toronto Raptors have been floated as possible suitors for the two-time league MVP, with Doug Smith of the Toronto Star citing mutual interest. Still, it seems Milwaukee hasn't opened that door, and Antetokounmpo himself hasn't asked out—suggesting that for now, he plans to remain with the Bucks next season. Milwaukee Bucks forward Giannis Antetokounmpo (34).Jeff Hanisch-Imagn Images Amid this swirling speculation, Antetokounmpo appears focused on his international duties with the Greece National Team. According to Gazzetta (h/t BasketNews), there's no debate on the matter—Antetokounmpo has decided to lead Greece in Europe. Antetokounmpo has been a pillar of Greece's national team since 2014. He starred at the 2024 Olympic Qualifying Tournament in Piraeus, earning praises from basketball fans as he guided Greece to its first Olympic berth since 2008. Advertisement Back in February, Antetokounmpo made it clear he planned to play this summer if healthy (via FIBA), but that was the extent of his commitment. It now seems that decision has become more official. Fans have been reacting to this news in the comments. "Let's goooooo 🔥🔥🔥, said one. "Don't get injured,the Milwaukee Bucks Team will need you for the 2025/2026 season," one said. "Bro stay carrying bad teams," said another. "Greece for gold 🥇☝️," one added. "Perfect!" exclaimed another. Despite Milwaukee suffering a third straight loss in the first round, Antetokounmpo had another MVP-caliber performance with the Bucks this season, averaging 30.4 points, 11.9 rebounds, and 6.5 assists in 70 games. Related: Raptors-Nets RJ Barrett Trade Report Drops on Tuesday Related: Raptors Send Brandon Ingram Message After Giannis Antetokounmpo News This story was originally reported by Athlon Sports on Jun 25, 2025, where it first appeared.
Times
2 days ago
- Politics
- Times
From the archive: General Pangalos' coup in Athens
From The Times: June 26, 1925 Rumours of unrest in the Army have been current for the last few days, and this morning General Pangalos brought off the threatened coup d'état. Athens awoke to hear rifle fire in the neighbourhood of the Post Office, and found that this was in the hands of the Revolutionaries, who had displaced the guard placed there overnight by the Government. Soon it became apparent that things were not as usual, owing to the presence of numbers of troops in the streets. At 10 o'clock General Pangalos, who had taken up a position between Athens and the Piraeus, sent an ultimatum to Admiral Konduriotis, the Head of the State, demanding the resignation of the Michalakopoulos Cabinet before 4 o'clock this afternoon. A similar communication was sent by Admiral Hajikyriakos, who had assumed command of the Fleet, hoisting his flag in the Averoff. These messages intimated that if the Government did not immediately withdraw and hand over authority together with the money in the Treasury, the infantry barracks, the Presidential Palace, and the War Office would be bombarded. As soon as these documents had been received M Michalakopoulos, the Prime Minister, with the rest of the Cabinet, handed in their resignation to the Head of the State in order to avoid bloodshed. The rapid success of General Pangelos's coup d'état has made a great impression on public opinion, which is at present somewhat apathetic, although no later than this morning bloodshed was threatened, and the Government's troops, including General Kondylis's famous Chasseurs, realizing the extent of the Revolution and the futility of opposing the superior forces at the disposal of General Pangalos, have joined the movement. It now appears that the Revolution was precipitated by the Government's decision to accept General Kondylis's advice to take energetic measures to restore discipline in the Army, beginning with the arrest of the leaders of the unrest. General Pangalos and his supporters thereupon decided to strike without further delay. Admiral Hajikyriakos also declared that he had assurances that the whole Fleet would support the movement. Explore 200 years of history as it appeared in the pages of The Times, from 1785 to 1985:
Business Wire
4 days ago
- Business
- Business Wire
Piraeus Financial Holdings Successfully Priced a €400mn Additional Tier 1 Instrument
ATHENS, Greece--(BUSINESS WIRE)--Piraeus Financial Holdings S.A. ('Piraeus' or the 'Group') (ATHEX: TPEIR) (OTCQX:BPIRY) (OTCQX: BPIRF) announces that it has successfully completed the pricing of €400 million Fixed Rate Reset Additional Tier 1 Perpetual Contingent Temporary Write-Down Notes (the 'Notes'). The AT1 Notes carry a coupon at 6.750%, which is paid semi-annually, on 30 June and 30 December in each year. They are perpetual and callable on 30 December 2030 or in any interest payment date thereafter, subject to the terms and conditions of the Notes. Settlement will take place on 30 June 2025 and the Notes will be listed on the Luxembourg Exchange's Euro MTF market. The Notes have been assigned a 'B1' rating from Moody's Ratings. The AT1 offering contributes towards the implementation of the Group's strategic plan, optimizes the capital stack throughout the planning horizon, and further strengthens the Group's total capital adequacy ratio to 20.6% (proforma Mar.25). The transaction attracted significant interest from circa 230 institutional investors, with c.70% placed among asset managers, c.21% to banks and private banks, and c.9% to hedge funds and other investors. Approximately 90% was allocated to international institutional investors, with demand mainly from the UK & Ireland (37%), France (21%) and the DACH 1 region (12%). The total order book of the transaction exceeded €3 billion, being more than 7.5x oversubscribed compared to the issuance target of €400 million. The success of the transaction is a clear testament of investor confidence in Piraeus. This is reflected in the final yield, at 6.75%, which is 50bps below the initial guidance of 7.25%. Barclays, BofA Securities, Deutsche Bank, Goldman Sachs Bank Europe SE, Nomura, and UBS Investment Bank (B&D) acted as joint bookrunners of the issue. Ambrosia Capital and Piraeus Bank S.A. acted as co-managers of the issue. A&O Shearman and Bernitsas Law Firm acted as legal advisors to Piraeus. Compliance information for the bonds: MiFID II and UK MiFIR – professionals / ECPs-only / No EEA or UK PRIIPs KID – MiFID II and UK MiFIR manufacturer target market is eligible counterparties and professional clients only (all distribution channels). No EEA or UK PRIIPs key information document (KID) has been or will be prepared as no sales to EEA or UK retail investors. No action has been or will be taken in any jurisdiction in relation to the bonds to permit a public offering of securities. FCA CoCo rules apply. The bonds are not being, and will not be, offered or sold in the United States. Nothing in this announcement constitutes an offer to sell or the solicitation of an offer to buy the bonds in the United States or any other jurisdiction. The bonds may not be offered, sold or delivered in the United States absent registration under, or an exemption from the registration requirements of, the Securities Act. The bonds have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons.
Yahoo
4 days ago
- Business
- Yahoo
Piraeus Financial Holdings Successfully Priced a €400mn Additional Tier 1 Instrument
ATHENS, Greece, June 24, 2025--(BUSINESS WIRE)--Piraeus Financial Holdings S.A. ("Piraeus" or the "Group") (ATHEX: TPEIR) (OTCQX:BPIRY) (OTCQX: BPIRF) announces that it has successfully completed the pricing of €400 million Fixed Rate Reset Additional Tier 1 Perpetual Contingent Temporary Write-Down Notes (the "Notes"). The AT1 Notes carry a coupon at 6.750%, which is paid semi-annually, on 30 June and 30 December in each year. They are perpetual and callable on 30 December 2030 or in any interest payment date thereafter, subject to the terms and conditions of the Notes. Settlement will take place on 30 June 2025 and the Notes will be listed on the Luxembourg Exchange's Euro MTF market. The Notes have been assigned a "B1" rating from Moody's Ratings. The AT1 offering contributes towards the implementation of the Group's strategic plan, optimizes the capital stack throughout the planning horizon, and further strengthens the Group's total capital adequacy ratio to 20.6% (proforma Mar.25). The transaction attracted significant interest from circa 230 institutional investors, with c.70% placed among asset managers, c.21% to banks and private banks, and c.9% to hedge funds and other investors. Approximately 90% was allocated to international institutional investors, with demand mainly from the UK & Ireland (37%), France (21%) and the DACH1 region (12%). The total order book of the transaction exceeded €3 billion, being more than 7.5x oversubscribed compared to the issuance target of €400 million. The success of the transaction is a clear testament of investor confidence in Piraeus. This is reflected in the final yield, at 6.75%, which is 50bps below the initial guidance of 7.25%. Barclays, BofA Securities, Deutsche Bank, Goldman Sachs Bank Europe SE, Nomura, and UBS Investment Bank (B&D) acted as joint bookrunners of the issue. Ambrosia Capital and Piraeus Bank S.A. acted as co-managers of the issue. A&O Shearman and Bernitsas Law Firm acted as legal advisors to Piraeus. Compliance information for the bonds: MiFID II and UK MiFIR – professionals / ECPs-only / No EEA or UK PRIIPs KID – MiFID II and UK MiFIR manufacturer target market is eligible counterparties and professional clients only (all distribution channels). No EEA or UK PRIIPs key information document (KID) has been or will be prepared as no sales to EEA or UK retail investors. No action has been or will be taken in any jurisdiction in relation to the bonds to permit a public offering of securities. FCA CoCo rules apply. The bonds are not being, and will not be, offered or sold in the United States. Nothing in this announcement constitutes an offer to sell or the solicitation of an offer to buy the bonds in the United States or any other jurisdiction. The bonds may not be offered, sold or delivered in the United States absent registration under, or an exemption from the registration requirements of, the Securities Act. The bonds have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons. ______________________________ 1 DACH region refers to Germany, Austria and Switzerland View source version on Contacts PressOffice@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
