Greece approves port sale in second-largest city

A 67 percent stake in Thessaloniki Port has been sold for €232 million. (AP Photo)
Updated 22 February 2018
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Greece approves port sale in second-largest city

ATHENS: Lawmakers have approved the sale of a 67 percent stake of the Thessaloniki Port Authority in Greece’s second largest city, in a deal worth 232 million euros ($285 million).
Parliament ratified the concession agreement through 2051 which was signed in December with the consortium South Europe Gateway Thessaloniki. The consortium is comprised of Germany’s Deutsche Invest Equity Partners GmbH, Greek-Russian Belterra Investments, and France’s Terminal Link SAS.
Thursday’s approval follows the 2016 privatization of Greece’s largest port of Piraeus through the sale of a majority stake to China’s Cosco group.
Greece’s left-wing government says it’s committed to continuing cost-cutting reforms and privatization after the country’s international bailout ends in August. It will present rescue creditors a development plan in April to be used to gauge post-program surveillance and debt relief.


Cyclone kills 33 in India with thousands in relief camps

The aftermath of cyclone Gaja is seen in Tamil Nadu, India November 16, 2018 in this picture obtained from social media. (REUTERS)
Updated 23 min 13 sec ago
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Cyclone kills 33 in India with thousands in relief camps

  • Most deaths were caused by flooding, house collapses and electrocution

NEW DELHI: A powerful cyclone in southern India has killed at least 33 people, caused massive damage to homes and roads and drove tens of thousands of people into relief camps, officials said.
India’s navy assigned two ships and a helicopter for relief work as state authorities rushed drinking water, food and paramedics to nearly 82,000 people who took shelter in more than 400 state-run camps.
They were evacuated from areas in the path of Cyclone Gaja, which struck six districts of Tamil Nadu state on Friday with heavy rains and winds that reached 90 kilometers (55 miles) per hour.
Rescuers found 13 bodies Friday and an additional 20 on Saturday, said Edappadi Palaniswami, the state’s top elected official. Most deaths were caused by flooding, house collapses and electrocution.
The cyclone uprooted 30,000 electricity poles and more than 100,000 trees, he said. Nearly 10,000 workers were trying to restore electricity supply to the worst-hit areas, he said.
Palaniswami said a large number of goats, deer and wild animals had also perished in the flooding over the past two days.
Coconut trees over thousands of acres (hectares) of farmland have been uprooted, according to Tamil Nadu Vivasayigal Sangam, a farmers’ organization.
Tamil Nadu state is prone to cyclones that develop in the Bay of Bengal.