On Friday, National Bank of Greece (ADR) (NYSE:NBG), ended its last trade with -50.22% dropped, and closed at $0.185.
NBG is moving on high volume, trading at a volume of 135.06M shares, for now, as compared to its average daily volume of 15.02M shares. At $0.189, the stock is losing momentum as shares are down from a peak price of $2.53 recorded on Nov 21, 2014. The stock is down -89.44% in this year through last updated price. The stock is having its 200-day moving average of $0.92 and $0.92 as its 50-day moving average. The stock, as of now, is showing weekly downbeat performance of -63.65%, which is maintained at -76.54% in 1-month period. The market capitalization as recorded for the firm is $613.04M.
On Nov 13, Greek bank investors are being asked to inject new funds into the lenders for the second time in less than 20 months, even as doubt remains that the country will receive the next round of bailout funds, according to Bloomberg
The National Bank of Greece SA and Eurobank Ergasias SA joined Piraeus Bank SA and Alpha Bank AE on Thursday in starting book-building processes as they seek to fill part of 14.4 billion-euro ($15.5 billion) hole in their accounts identified by the European Central Bank. The state-owned Hellenic Financial Stability Fund will contribute the rest from loans from Greece’s latest bailout, but not before imposing mandatory losses or burden sharing” on shareholders and creditors of the banks.
“The recapitalization of Greek banks, perhaps the most critical problem for the Greek state recently, has entered its most critical stage,” Emilios Avgouleas, professor of international banking law and finance at the University of Edinburgh, and Levy Institute President Dimitri B. Papadimitriou, said in a report on Thursday. “Instead of repeating the mistakes of the past, recapitalization should create an environment of hope amidst renewed efforts to repair the Greek economy.” Bloomberg Report
The National Bank of Greece (NYSE:NBG) is a global banking and financial services company with its headquarters in Athens, Greece. The Bank offers its customers a range of integrated financial services, counting corporate and investment banking; retail banking (counting mortgage lending); leasing and factoring; stock brokerage, asset administration and venture capital; insurance; and real estate and consulting services. In addition, the Bank is involved in various other businesses, counting hotel and property administration.
Shares of General Electric Company (NYSE:GE), gained 2.08% to $30.91, during its last trading session.
Electrolux AB Chief Executive Officer Keith McLoughlin told a Washington judge that his company will be able to keep costs down and sell ovens and other products at lower prices should it win approval to acquire General Electric Co.’s appliance business, according to Bloomberg
McLoughlin, called to the witness stand Thursday in a U.S. antitrust lawsuit seeking to block the acquisition, called the takeover “critical” to Electrolux’s ability to compete in the future and disputed the government’s position that the deal would reduce competition and lead to higher prices.
“Our cost per unit is going to go way down,” he said. Consumers are “going to get more innovative products at lower prices.” Bloomberg Report
General Electric Company (GE) is a diversified infrastructure and financial services company. The products and services of the Company range from aircraft engines, power generation, oil and gas production equipment, and household appliances to medical imaging, business and consumer financing and industrial products.
Finally, Shares of Alibaba Group Holding Ltd (NYSE:BABA), gain 2.94% to $80.16.
Alibaba Group Holding Limited (BABA) declared the official launch of its Entrepreneurs Fund for Taiwan, with the objective to support the aspirations of entrepreneurs who wish to take advantage of the resources offered by Alibaba’s ecosystem in e-commerce, logistics, mobile platforms, cloud computing and financial services.
The Taiwan Entrepreneurs Fund is a not-for-profit initiative of Alibaba Group. The mission of the Fund is to assist entrepreneurs realize their dreams and visions for a Taiwan that is vibrant and engaged regionally and globally.
The Fund will invest in qualifying companies in the start-up, growth and expansion phases of the company life cycle. Qualifying businesses will leverage the platforms in the Alibaba ecosystem to offer products and services to Greater China and the world. NT$10 billion has been earmarked for the Taiwan Fund.
“At Alibaba our mission is to make it easy to do business anywhere,” said Mr. Joe Tsai, executive vice chairman of Alibaba Group. “We are passionate about fostering entrepreneurial spirit and hope the resources offered by the Fund will assist unleash potential for innovation and entrepreneurship in Taiwan. I am delighted to have the support from the Fund’s directors who share our vision and passion. Together we will assist aspiring entrepreneurs realize their dreams.”
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the Peoples Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
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