Interamerican, a member of Eureko Group, announced after tax profits of 5.8 million euros in the first six months of 2008, up 132 percent compared with the corresponding period last year, reflecting positive performances in the sectors of life and healthcare, despite a negative economic climate which affected the insurance industry.

Fuelled by the rise in international oil prices and the structural weaknesses of the Greek economy, a National Bank report indicated that inflation this year will close at 4.4 percent.

Shell Oil, following a meeting of officials of the parent company with the Greek subsidiary, said it will remain in the Greek market but with a new strategy, contrary to rumors about its departure from the country.

Greek economic growth continued to decelerate in the second quarter of the year, sliding to 3.5 percent from 3.6 percent in the first quarter, according to official data of the National Statistics Service (NSS).

Exports posted a slight rise of 1.6 percent in the first six months of the year, as the trade deficit shrank by 4.7 percent, according to data released by the Hellenic Foreign Trade Board (OPE). The total value of exports in the January-June period reached 8,518.4 million euros against 8,384.7 million euros in the same period last year.

Neorion Shipbuilding and Industrial Enterprises, SA, signed a 14.550 million euro contract with the Greek state for building three fire-fighting vessels. The ships, with a length of 28.6 metres and a maximum speed of 26 knots, will be built at Neorion's shipyards on Syros and will be delivered to Greece’s fire brigade by Dec. 31, 2009.

OTE Telecom announced that broadband Internet connections exceeded the 1.4-million figure last month as the country catches up with the rest of Europe in DSL penetration.

The Development Ministry is putting together a draft bill that will drastically reduce the steps required to set up a company, in a much overdue plan, as bureaucracy remains one the of country’s biggest problems. Greece was ranked in position No 96 out of 181 countries on an international competitiveness ranking prepared by World Bank last week, scoring poorly on the number of steps required to set up a business.

Euromedica SA, a Greek healthcare provider, bought a 60 percent stake in the Larissa Clinic in central Greece. The company will pay 450,000 euros for the majority stake, and the remaining 40 percent is held by radiologists at the clinic. Euromedica now operates 49 medical facilities in Greece.

The Coca-Cola Hellenic Bottling Company (CCHBC) the world’s No. 2 bottler of Coke drinks, plans to shut down one of its five plants in Romania in a bid to save costs, it was revealed. The small plant will continue to operate as a distribution center for CCHBC products.