Hello, we are getting close, approaching, but there are still key pending issues for the formation of the new government, for which meetings and appointments continue. K.M. tirelessly meets and has already seen almost half of his ministers. Let me tell you a bit more about the role of the main “confirmed” figure, Kostis Hatzidakis. The new vice president will have an office at Maximos Mansion and not across the street from the Stathatos Mansion, I am told on the first floor, and he will have a coordinating role within the circle of economic ministries to oversee government work. Also, as a source with direct knowledge told me, the new vice president will also have a coordinating role within M.M., meaning that in many cases, he will act as an intermediate filter before the prime minister’s office door.

Papastavrou

Now I am told that Papastavrou is also confirmed for the Ministry of Energy. You might remember how he left…in transit from the prime minister’s office around this time last year. Since then, a lot has happened, and Stavros has regained the prime minister’s trust, so now he can start saying his well-known phrase again: “I have only one principal, Mitsotakis, and I serve him,” etc. Yes, now let’s not criminalize strolls, meals, legal work, and meetings with contractors. Besides, my source at M.M., whom I asked, told me that not only does he enjoy full trust (“Come on, are you stupid? Don’t you understand he’s our guy?”), but there will also be a filter and oversight from Hatzidakis and Mitsotakis’s energy advisor, Nikos Tsafos. Now, whether Stavros will actually consult Tsaf Tsouf, or whatever his name is, seems unlikely to me, but okay, it’s none of my business. Especially since he will have only one principal, after all…

The 14 “blue” members of the investigative committee (and not the government)

While everyone is waiting for the names that will join the government, today I have information about the MPs who will staff the investigative committee for Tempi. The committee will have 27 members in total, 14 of whom will come from the “blue” parliamentary group. These are Panagis Kappatos—who is being considered for committee president—Thanasis Zempilis—expected to be the rapporteur—Asimina Skondra, Giorgos Papasotiriou, Periklis Mantas, Thomais Oikonomou, Giorgos Kotsos, Angeliki Delikari, Giorgos Vrettakos, Neoklis Kritikos, Konstantina Karampatsoli, Maria Kefala, and Kostas Kefalogiannis. Obviously, these are the only ones who sleep with their phones on silent since they already know they won’t be entering the government. PASOK will be represented by Milena Apostolaki, Litsa Liakouli, and Giorgos Moulkiotis; SYRIZA by Vasilis Kokkalis and Giorgos Gavrilos; the Communist Party (KKE) by Nikos Karathanassopoulos; and New Left by Dimitris Tzanakopoulos.

The postponement of the discussion on defense procurements and the tricky associations

The discussion among political leaders, where the prime minister will present the new long-term defense procurement program, has been postponed to March 27—two days after the military parade. Initially, it was scheduled for March 18, but during that time, the five-party talks on the Cyprus issue will be taking place, and the teams at M.M., the Ministry of Foreign Affairs, and the Ministry of National Defense did not want any tricky associations to arise.

The casino (197 meters high) in Ellinikon is moving forward

After the issuance of the building permit, GEK TERNA is accelerating construction work on the Integrated Resort Casino in Ellinikon. Preliminary work had already been carried out, and the foundation, completed a few days ago, was laid in record time. The group’s executives have stated that construction will take three years, so its operation is expected around the summer of 2028. The construction phase will create 3,000 jobs, with another 3,000 permanent positions once it opens under the supervision of Hard Rock International. The IRC will be 197 meters high with 42 floors, and the construction work is being carried out by TERNA. The investment by Hard Rock International (51%) and the GEK TERNA group (49%) for the “Hard Rock Hotel & Casino Athens” amounts to €1.5 billion, with over €1 billion allocated to construction costs, while the remaining funds cover the one-time €150 million license fee, financial costs, etc.

Fever (also) for Arabic data centers

After the mega deals for Terna Energy and the HHG Group, which exceeded their commitment to invest 4 billion euros in Greece, the Emiratis are preparing for their next move, which involves the creation of data centers on Greek soil. Information indicates that the investment plan, based on the relevant memorandum of cooperation—signed last year between Greece and the UAE for investments or co-investments in infrastructure amounting to 500 MW—is already being drafted. The same sources also mention that this plan does NOT include the PPC-DAMAC consortium, which is already proceeding with the first project worth 150 million euros for the creation of data centers in Attica. Additionally, I hear that a visit by Emirati officials, including the Minister of Industry and Technology Dr. Sultan Al Jaber, is being prepared for early May for official meetings in Athens, so they may have news on this matter then. It is worth recalling that two weeks ago, Prime Minister Kyriakos Mitsotakis visited Abu Dhabi, with the cooperation between the two countries being a key topic on the agenda, particularly regarding AI infrastructure and data centers.

Digital Realty: The data center in Heraklion ready in April

If one sets aside Microsoft’s “adventure,” which “they built all day, only for it to collapse at night” for the past four years, the investment moves of other neutral service providers are progressing rapidly. A prime example is Digital Realty’s latest investment in Heraklion, Crete, which I hear is almost ready, approximately two years after the foundation ceremony. In fact, the inauguration is scheduled for April 8, with international guests due to the geographical significance of the infrastructure. Notably, studies estimate that in a five-year horizon, around 1.2 billion dollars will be invested in Greece for the development of data centers—something that, of course, has attracted the interest of major local contractors rushing to claim their share of the new market.

Karatzis: After the pentagram, private healthcare

After conquering the popular music scene, Antonis Karatzis has set new goals. As is well known, the Cretan entrepreneur—who leads the eponymous group specializing in the manufacturing of nets and other products, luxury five-star hotels, renewable energy sources, and the airline Panellenic Airlines—recently discovered his talent for singing but does not stop there. Thus, around mid-February, there was yet another amendment to the articles of association of “Karatzis Industrial & Hotel Enterprises S.A.” regarding Article 3, which concerns the company’s purpose. The amendment introduced provisions for “the establishment, operation, and exploitation of independent and autonomous medical (specialized or general) clinics of exceptionally advanced technology, medical laboratories, diagnostic and therapeutic centers in any city in Greece or abroad, in company-owned or non-company-owned properties,” as well as “the company’s participation in other domestic or foreign businesses with the same or similar purpose and cooperation with similar enterprises.” In other words, the businessman sees opportunities in the private healthcare and diagnostic center sector, which is currently undergoing a new phase of restructuring.

50 activities in the purposes of “Karatzis SA”

It is worth noting that, with all these additions, the purpose of “Karatzis SA” has now expanded to include 50 activities covering almost anything one could imagine. Among them, however, one particularly stands out: “the production of all kinds of audio or audio-visual media, such as, indicatively, high-density recording discs, high-density ROM discs, compact discs, digital video discs, magnetic tapes, CDs, and, in general, phonographic or audio recordings and/or audiovisual works of a commercial and/or technological nature, or in any other form that may emerge in the future, as well as the incorporation and circulation of recorded songs and performances,” “music publishing services, printed music production, sheet music, etc.,” and “the management representation of artists, artistic groups, and ensembles from all artistic fields (singers, actors, and other artists), both Greek and foreign, in Greece and abroad.” It is worth recalling that Antonis Karatzis made a big success with the romantic ballad “Meltemi,” followed by “Pio Poli,” with lyrics and music by Phoebus. Next stop…the stage!

New career for N. Mantzoufas

A new chapter for Nikos Mantzoufas, known for his tenure in both the public and private sectors, as he establishes his own consulting firm, Navitas Mandate European Partners. His most recent position was as Head of Financing and Public Affairs at the Sunlight Group (for the gigafactory lithium cell production project), where he stayed for a year before departing in early January. Prior to that, he served as the head of the Special Coordination Service for the Recovery Fund and was also the longest-serving Special Secretary for Public-Private Partnerships (PPP).

In 5 brokerage firms, 69% of market turnover – UBS holds a 6.5% share

Data from the first two months of 2025 show that in terms of transaction value, Piraeus AXEPEY ranked first among brokerage firms, executing 22.8% of stock exchange transactions. It is followed by Eurobank with 18.7%, Euroxx in third place with 12.9%, Alpha with 8.02%, and National Bank with 7.71%. This means that the top five brokerage firms accounted for 69% of the market’s turnover. Among remote members, UBS stands out, having executed 6.5% of the transaction value during this period. Clearly, large trading packages played a role in these rankings, but the fact that the total transaction value is 17% higher than today is indicative of the market’s current state. Incidentally, our stock exchange’s new website, which has been operational since last Thursday, is modern and informative, but it could use a user guide to help all interested parties navigate it effectively.

Greek-Skopje partnership

A deal driven by innovation and a medical focus has been completed along the Athens-Skopje axis. It involves two companies: the Greek Genekor Medical S.A., a leader in molecular diagnostics in Europe, and the Skopje Varus D.O.O.E.L., a pioneer in the healthcare sector in the neighboring country. The two firms have entered into a strategic alliance, creating a joint entity to advance “Precision Medicine” in oncology treatment in Skopje. The Greek Genekor, which already has branches in eight European countries, is preparing to announce yet another major step in the Balkans.

Monica: The new competitor in Artificial Intelligence

Last week, the AI sector was dominated by interest in Manus AI, a fully autonomous AI agent—a system that not only thinks but also executes complete tasks using tools. Manus AI has generated the same level of excitement in the AI agents field as DeepSeek did a few months ago in AI model development. The surprise? It was developed by a small Chinese startup, Monica. It stands out for its ability to perform complex tasks without human intervention, from data analysis to transaction management. Manus AI represents yet another demonstration of strength from China’s artificial intelligence ecosystem, at a time when industry giants like OpenAI are investing massive sums yet delivering noticeably inferior products such as ChatGPT Agent.

Fortunately, the dividend distribution period is approaching

The markets are in turmoil. Trump uttered the “R” word (recession) and continued undeterred with the tariff war. Today at noon, at 14:30 Greek time, the critical U.S. inflation data will be announced. Anything above 2.5% will ring the bells of stagflation. Athens, in the midst of this storm, remains calm. For yet another session, the transaction value exceeded 200 million euros, and the General Index maintained the 1,600-point level with relative ease. At one point, it slipped to 1,622.15 points (-0.36%), then climbed to 1,635.95 points (+0.49%), and finally closed at 1,624.34 points (-0.22%). The transaction value stood at 213.6 million euros, of which 37.7 million concerned prearranged transactions. Without a doubt, the market is supported by index-heavy stocks (as smaller capitalizations are experiencing low pressure) and is primarily buoyed by stocks that have promised generous dividends, which even today justify buying shares to secure them. Alpha Bank took its revenge (+2.37%), Eurobank stabilized (+1.24%), Piraeus maintained investor interest (+0.19%), while National Bank recorded minor losses of -0.53%. JUMBO and Motor Oil provided the necessary support, while Coca-Cola 3E, affected by the unfavorable international environment, fell to 40.5 euros (-0.69%).