Hello, so as expected, the videos submitted to the investigator regarding the Tempi accident do not show any undeclared cargo in the wagons. Today or tomorrow, the forensic report from the Hellenic Police laboratories regarding their authenticity will be released, and we move on. And I say “expected” because only a suicidal person would voluntarily submit fake videos in such a case. Now you might say, “Can public opinion be convinced that there is no cover-up, as 70%-80% of all polls indicate?” The answer is “no,” but just as people roughly understood that the government didn’t care much about the Tempi issue after the elections, now they will slowly begin to realize that the little system set up against it is not about delivering justice for Tempi. And, of course, part of that system is the trio “Androulakis-Velopoulos-Zoi,” along with the many others who have vested interests, exploiting pain and anger. Patience is needed to watch this whole play unfold.

Reshuffle

I asked my source about the reshuffle, and you might ask why I ask…on a permanent basis. Well, because when we enter a reshuffle period, it’s good to ask often, as the situation changes very quickly. My reliable source tells me that the reshuffle is set for March. There are no changes at the M.M., Pavlos Marinakis stays there, Kostis Hatzidakis is also not going to be vice president at M.M. (these rumors have been circulating lately), and if there is an addition, it will be the truly significant one of Gerapetritis, which, however, has not yet been decided by the Prime Minister.

The Sorbonne at Maximos

This afternoon, the officials from the Sorbonne University, who arrived in Athens yesterday evening, will be at Maximos Mansion to present Mitsotakis with their application for establishing the first Greek branch under the Pierrakakis law. Earlier, they will have gone to the Ministry of Education to submit the relevant application. At M.M., there will be the vice president of Sorbonne, Olivier Houdart, the dean of the School of Political and Social Studies, Anne Fossone, the president of the French College of Greece, Stelios Amargianakis, and the director of International Relations, Alexandros Despotopoulos. The five-year operational plan submitted for approval to the competent authorities includes €15 million in investments for a campus, €3 million for cutting-edge research, and over €7 million in scholarships. The plan initially includes three faculties: Law, Economics-Management, and Physical Education, with a prospect of increasing to six faculties within five years, including a School of Media and Communication.

Google it, chief!

Now, regarding the Sorbonne, we had another comedy episode yesterday with PASOK, especially with its leader Nikos, who mocked Pierrakakis, claiming that this so-called Sorbonne University coming here is fake. Pierrakakis didn’t do much in response, don’t think otherwise, he just wrote a reply telling him that with a simple Google search, Androulakis could find the public French university Université Sorbonne Paris Nord, which is one of the 13 institutions that succeeded the famous University of Paris and has 26,000 students and 1,200 professors. He also responded that this university’s planned investment in Greece is €15 million for a campus and another €10 million for research, scholarships, etc. So, I ask, as good-naturedly as I can, honestly, how hard is it, man, to pick up a phone and ask someone more specialized in education (PASOK had dozens) to give you the right perspective on such a simple issue? But no, Nikos is busy dealing with butchers…

At M.M. for Attica’s garbage

The government and the Prime Minister himself must immediately make crucial decisions regarding the role of the Unified Waste Management Association, which manages Attica’s waste. After two audit reports on the previous administration’s projects and actions, direct awards, and rodent control contracts, as well as the disciplinary referral for misconduct of five elected officials who participated in the EDSNA administration under Patoulis, the association’s file is being prioritized for evaluation. Reports indicate that a meeting is scheduled at Maximos Mansion today regarding the waste association and the bold decisions the government must make for the future and how it will operate. The agenda of the meeting is unknown, but sources suggest that Mitsotakis’ office has a plan to dissolve EDSNA and temporarily transfer its responsibilities to the president of PEDA (Regional Association of Municipalities of Attica) and mayor of Galatsi, Giorgos Markopoulos. The goal for the new entity is for the Region to have no involvement, with only the municipalities participating, while all major Public-Private Partnership (PPP) waste management projects for Attica will be centrally handled by the Ministry of Environment. What I genuinely don’t understand is, first, how it is possible to dissolve an organization like EDSNA, which is currently under the scrutiny of inspectors and prosecutors following reports of mismanagement? If nothing else, there is a serious ethical issue, and perhaps its dissolution could even be interpreted as a cover-up. And second, are municipalities really being called upon once again to solve Athens’ garbage problem after twenty years? And who guarantees us that there is less corruption there?

Petralias’ Concern for Santorini

If there is one person who these days has an additional concern about the situation in Santorini, as a competent source tells me, it is the Deputy Minister of Finance Thanos Petralias, who “holds” the treasury. Petralias knows well that last year Santorini accounted for 2.5% of GDP, as the season was booming, and the cruise industry also performed very well. In absolute numbers, Santorini contributed approximately 6 billion to GDP. An additional reason for concern is the stability of the island’s port. So, as you can understand, in the state treasury, they listen with great concern to the scenarios of an extended seismic sequence (and the emergency measures).

Duel Between Sklavenitis-Panteliadis and Vardinogiannis’ Entry

Competition in wholesale sales for professionals, companies, etc., is heating up. The Sklavenitis group, which owns the The Mart chain, has decided to strengthen its wholesale network to increase its market share, which places it in second place. Sklavenitis’ decision threatens Panteliadis, who has established himself in first place in the market with Metro Cash and Carry. The Mart currently has 14 stores, and the next move from Sklavenitis is expansion into the islands, as it currently has a presence only in Chania and Heraklion. In 2023, The Mart had a turnover of 432 million and net profits of 11 million. I should note that both Sklavenitis and Panteliadis are closely monitoring the move by G. Vardinogiannis to enter the small retail market by acquiring the Smart Shop chain through Motor Oil, which also has stores outside gas stations. Smart Shop does not directly affect the supermarket customer, but it can compete with convenience stores, grocery stores, etc., that are wholesale customers.

After 9 Years and 9 Million (for a Bakery)

And since we are on the topic of chains and their plans, let me tell you the final cost for Veneti-Jackson Hall on the Milioni pedestrian street in Kolonaki, which is the flagship store of the Veneti network. The store is now operating, and from the moment Veneti took over until it opened to the public, nine years had to pass. During this period, the initial budget of 2 million euros reached 9 million. As you can imagine, amortization is very difficult if not impossible.

Capital Increase of 56 Million in Europe Holdings

The capital increase being planned by Europe Holdings (the entity resulting from the merger of KLM–Intracom Properties) will be at the level of 56 million euros as part of the strategy that has as its next stage the already agreed acquisition of Europe Insurance for the creation of a business hub with a presence in insurance as well as real estate management. On 6/3, the extraordinary General Assembly for the capital increase is expected to take place, and if the timeline is followed, the process is expected to be completed by the end of April, so that the shareholder changes can then be finalized, through which Nikos Makropoulos, the current owner of the insurance company, will become a shareholder with 10.3% of the new entity, the second largest after Intracom Holdings. The entire venture for Europe Holdings will be completed before Easter.

Komarek with McLaren

Allwyn, the parent group of OPAP, has signed an agreement that ensures it global exposure to further strengthen its international development. In combination with the long-term partnership it is initiating with Formula 1, it has entered into an official collaboration with the McLaren team, the F1 Constructors’ Champion for 2024. This partnership has a clear goal of strengthening the group’s activities and brand worldwide, and as an official partner of McLaren Racing, the Allwyn logo will appear on the cars and the team’s driver suits. Karel Komarek, owner of Allwyn, has long-standing ties with the world of F1 and, together with David Coulthard—former world champion—has founded, funds, and supports the initiative “More Than Equal” with the goal of preparing for the emergence of the first female Formula 1 World Champion Driver.

The Stoiximan boosts OPAP

And since we are in a gambling environment, on the sidelines of yesterday’s Stoiximan event that brought the UEFA Europa League and Conference League trophies to Athens, the company’s executives emphasized the excellent performance recorded in the previous year’s financial figures. Stoiximan recorded double-digit growth, driven primarily by the sportsbook, which was strengthened by the major sporting events of the year, especially Euro 2024. This rise, as stated by the executives of the new management team led by Managing Director Nikos Fligos, was also accompanied by a significant increase in new customer registrations, forming a strong base for this year as well. These performances will naturally be reflected in the results of OPAP, which holds an 84.49% stake and maintains exclusive control of Stoiximan and its operations in Greece and Cyprus. OPAP will announce its 2024 financial results on March 19, followed by the annual shareholders’ meeting on March 29. Earlier, the dividend amount will be disclosed, which is eagerly anticipated by the market, as a pre-dividend of 0.60 euros has already been issued.

The entrepreneurs aiming to become the country’s largest winemakers

A new company has been established by the Georgiadis brothers of Sterner Stenhus, who—beyond their other investments—have set a goal to become the largest winemakers in the country. As is known, they have already incorporated the historic “Boutari” winery under their group’s umbrella (with Semeli joining just a few days ago). The new company, headed by George Rentià, Chief Financial Officer of Sterner Stenhus Greece, is titled “Scalarea Crete Single-Member S.A.” and is based in Fantaxometocho of the Skalani settlement. Its purpose ranges from wine production to holiday accommodations and many other activities, while its initial share capital is 200,000 euros, which “Boutari Wineries S.A.,” represented by Thomas Georgiadis, has undertaken to cover. However, behind this matter lies an interesting backstory. It concerns the Boutari estate in Crete, which includes 73 acres of vineyards, its most modern winery, and even a boutique hotel. The newest and most modernly designed “Boutari” winery was completed in early 2004 and is built outside the village of Skalani, on the Fantaxometocho estate, just 8 km from the center of Heraklion and 4 km from the archaeological site of Knossos.

Fantaxometocho, the Georgiadis brothers, and the Logothetis family

The Fantaxometocho estate, also known as the “Ghost Estate,” owes its name to the efforts of its first owner to protect it from pirate raids by spreading rumors that ghosts inhabited the property. Beyond the winery, however, a decade ago, through the Scalarea IKE company, founded in June 2014, a plan was initiated to create a small complex with three luxury rooms. Shortly after, a partnership was formed with Aria Hotels, a subsidiary of Libra Group, a well-known chain of boutique hotels and independent residences across numerous island and mainland destinations in Greece. At the time, it was stated that “in the spring of 2015, the Boutari winery, through its partnership with Aria Hotels, created the Scalani Hills Boutari Winery and Residences,” which includes three luxury residences named Kotsifali, Malvasia, and Liatiko, housed in the fully renovated old estate. In 2022, Scalarea IKE was renamed “Blue Rock Suites MIKE” and remains part of Aria Hotels. Now, whether the Georgiadis brothers’ new company intends to open another accommodation facility in addition to the winery at Fantaxometocho or take over the existing one, we will see in the coming period.

Fais Group’s Prospectus to the Capital Market Commission in Early March

Barring unforeseen circumstances, the submission of the Fais Group’s Prospectus is expected within the first ten days of March, aiming to raise 50-60 million euros and list its shares on the Main Market of the Athens Stock Exchange. The management is anticipating a “pleasant surprise” from the 2024 results to complement the Prospectus. In 2023, revenue reached 191.3 million euros (up from 163.2 million euros in 2022), and net profits amounted to 4.7 million euros, up from 2.7 million euros. Sales for 2024 have already exceeded 200 million euros. The Group’s secret weapon lies in its wide range of activities, spanning from the distribution of sportswear and wellness equipment to luxury footwear and accessories, premium & lifestyle fashion products, cosmetics distribution, and, of course, commercial real estate development.

The Stock Market Celebrated the “Peace Party”

Since March 28, 2011 (during the government of George Papandreou), the General Index of the Athens Stock Exchange had not reached 1,600 points. Fully aligned yesterday with the “peace party” of major European markets, with an impressive increase in transaction value to 212.7 million euros (only 22.11 million in packages), the General Index abandoned its sideways upward movement of recent weeks and surged with a +2.49% increase to 1,600.97 points. The Athens Stock Exchange seems poised today to complete its eighth consecutive week of gains, while the total market capitalization has reached 112 billion euros. To be absolutely precise, the majority of yesterday’s rise in the General Index is undoubtedly due to the Coca Cola 3E stock, which reached a market capitalization of 14.3 billion euros, with an impressive +7.9% increase to 38.5 euros, driven by the excellent financial results announced in the morning and the promise of a 1.03 euros per share dividend, up 11% year-on-year. If half of the index’s rise is attributed to Coca Cola, half of the transaction value is owed to the banks. Piraeus stood out with a 3.9% rise to 4.66 euros, closely followed by National Bank (+3.61%) at 8.6 euros, Alpha Bank (+3.21%) at 1.847 euros, and Eurobank (+2.5%) at 2.46 euros. Not many expect interest rate cuts in the immediate future (which has implications for bank profits), and this sentiment was reflected in the bond market. The 10-year U.S. Treasury Bond yields 4.55%, the German Bond 2.41%, the French Bond 3.10%, and the Greek Bond follows closely at 3.25%. Metlen, which has been on a strong upward trend in recent days, closed at 35.96 euros (+1.87%) and, with a market capitalization nearing 5 billion euros, has secured its entry into the FTSE 100 index in London. TITAN halted its recent decline following TITAN America’s entry into Wall Street and rose +1.17% to close at 43.1 euros. Motor Oil is aiming for its 10th consecutive positive session today, having closed yesterday with a +1.56% increase at 22.2 euros. Not a single stock in the FTSE had a negative sign yesterday.

The Largest Artificial Intelligence Data Center in Europe

Europe is searching for its own champion in Artificial Intelligence, but developments in the field have come from the United Arab Emirates, which announced an investment of 30 to 50 billion euros for the creation of the largest AI data center in Europe. The project will be built in France and will be the heart of a new “AI campus,” with power reaching up to one gigawatt. This announcement was made during the meeting between French President Emmanuel Macron and UAE leader Sheikh Mohammed bin Zayed Al Nahyan. The French government had already identified 35 locations for the development of AI data centers, emphasizing the country’s strategic importance in the global AI race. The battle for Europe’s AI champion has already begun.

The Whole World Is Buying Stocks on Wall Street

In the past 12 months, non-U.S. investors have purchased 520 billion dollars’ worth of stocks on Wall Street. This means that foreign investors now control 59% of financial assets in the U.S., surpassing even the levels of the Dot-Com bubble in 2000. For comparison, in the past 12 months, net inflows into emerging markets totaled 220 billion euros, 57% less than the inflows into the U.S. market. Developed markets outside of Wall Street attracted only 20 billion dollars in investment capital inflows. Every day, the entire world is focused on New York. Especially in recent times, with Trump’s daily “surprises,” a massive buying spree has begun among hedge funds, which were net buyers of U.S. stocks for five consecutive days last week, at the fastest pace since November 2024. They selected eight of the 11 major S&P 500 sectors, excluding only financial companies (banks, investment firms, etc.) and the real estate sector. The champion in attracting hedge fund capital was, unsurprisingly, the Information Technology sector.

The Planet Is Adopting Cryptocurrencies 43% Faster Than Mobile Phones

Cryptocurrencies have now surpassed 300 million users and dedicated followers in just 12 years. According to BlackRock, the planet is adopting cryptocurrencies 43% faster than mobile phones and 20% faster than the internet. Younger generations, inflation fears, and Trump’s pro-crypto stance are fueling the steady upward trend. Bitcoin exchange-traded funds (ETFs) are expected to reach 250 billion dollars. Every day, particularly in the U.S., the cryptocurrency market gains “institutional conquests” and popular acceptance.