Author: Athanasios Koutoupas

  • Arab-backed fund signs $434m deal to buy luxury Greek resort

    Arab-backed fund signs $434m deal to buy luxury Greek resort

    ΓενικάThe new agreement includes amended special zoning and spatial planning for the development of Astir Palace.

    Greece’s privatisation agency said it signed a €400 million ($434.3 million) deal with Jermyn Street Real Estate Fund to sell Astir Palace, a luxury seaside resort outside Athens.

    Greece’s top administrative court had blocked the sale of the Astir Palace hotel complex in March, saying the town planning scheme that Greece submitted violated Greek law, as the construction of a large number of residential buildings would harm the natural and urban environment.

    “Jermyn Street Real Estate Fund has signed the new agreement to submit the amended special zoning and spatial plan for the development of Astir Palace,” the Hellenic Republic Asset Development Fund (HRADF) said.

    The fund represents investors from Turkey, Abu Dhabi, Dubai, Kuwait and other emirates.

    The agency said the agreement ensured that the fund’s development plan for the resort was adjusted to the court’s opinion.

    “The whole process is expected to be completed within the first half of 2016,” HRADF said.

    The agency is expected to cash in about €100 million from the deal. The rest of the proceeds will go to National Bank, Greece’s largest lender, which owns about 85 per cent of the resort.

    Privatisations have been a key condition of Greece’s international bailouts since 2010, but its state asset sales scheme has produced poor revenues due to bureaucratic delays and lack of political will.

    So far, Athens has raised only about €3.5 billion from state asset sales versus an original target of €50 billion.

    (neoskosmos.com)

  • Egypt’s Nour El-Sherbini Becomes Youngest Ever New York Squash Tournament Champion

    Egypt’s Nour El-Sherbini Becomes Youngest Ever New York Squash Tournament Champion

    ΑθλητισμόςEgyptian squash players Nour El-Sherbini and Mohamed El-Shorbagy have each won the top titles in the 2016  Tournament of Champions, an annual international squash championship held in New York City’s Grand Central Terminal.

    In front of a sold out crowd at Grand Central Terminal’s Vanderbilt Hall, El-Sherbini, 20, defeated New-York raised 22-year-old Amanda Sobhy, the highest ranking American ever in the Professional Squash Association (PSA) world rankings.

    “Nour came out firing from the very start,” said Sobhy referring to her 20-year-old Egyptian opponent.

    El-Sherbini, who was born in Alexandria, is the second Egyptian woman to win the Tournament of Champions. Last year, Raneem El-Weleily clenched the throne after defeating the UK’s Alison Waters.

    “I don’t know what to say. It’s weird and amazing and incredible,” said El-Sherbini, who became the youngest ever Tournament of Champions winner.

    Meanwhile, El-Shorbagy, the world’s top male squash player, won the Tournament of Champions for the second year running after defeating three-time world champion Nick Matthew.

    “I knew that I had to beat Nick tonight. He had already beaten my brother Marwan and I didn’t want him to beat both of us in the same tournament,” said El-Shorbagy after his victory.

    (egyptianstreets.com)

  • Egypt: fossils and climate change museum inaugurated

    Egypt: fossils and climate change museum inaugurated

    ΠολιτισμόςWADI EL HITAN (EGYPT) – The “Fossils and climate change museum” was inaugurated in the Egyptian desert and presented as the only one of its kind in the Middle East and probably anywhere the world.
    Financed by Italian Cooperation, it was built in the area of Wadi El Hitan, the ”valley of whales” that extends in the governatorate of Fayoum, one of the most significant fossil sites on the planet.
    The remains of the biggest “Basilosaurus isis” ever found, a prehistoric whale which could reach up to 20 mt in lenght, are exhibited at the centre of the museum. A path of 11 ”stations” with explanation panels illustrating other whale fossils dating back to over 40 million years ago, runs all around it.
    The Egyptian site is a Unesco Heritage Site since 2005, also thanks to Italian Cooperation.
    “The museum is the first of its kind in the Middle East” said a UNDP report.
    The UN Programme for Development followed the construction of the museum financed by Italy with approximately 500 million dollars.
    On the sidelines of the inauguration sources told ANSAmed that “being in the middle of the desert” (approximately 200 km south of Cairo) and ”facing the effects of climate change”, the museum ”is the first one of its kind in the world”.
    The structure built with the circular profile of a dune with traditional materials fades away in the landscape like the dunes of the Egyptian ”western desert”, a low canyon.
    Inside, the skeletons of two Basilosaurus emerge.
    The bones form a double circle, around it panels and fossils illustrating other whales, prehistoric sharks, crabs and petrified mangroves, millions of years old corals.
    The complex is enriched by a series of structures which facilitate the reception of visitors: an information centre, a ticket office, a cafeteria, a tourist police office, a parking and toilets all built by Italian Cooperation during the course of the last few years.
    “We put the wall underground and the dome on top” architect Gabriel Mikhail, who built the construction “imitating the surroundings and ensuring a better temperature inside” told journalists. You come here to follow “a journey that begins with earth’s creation” through several eras, summarised Mikhail adding that this desert once hosted “a tropical forest” and ”before then” the area ”was beneath the sea”.
    The museum educates visitors about ”the importance of natural heritage” and its message is ”protect it: pay attention to climate change; if you don’t do so, you shall be extinguished” just like the prehistoric whales.
    You reach the site after three hours by bus bypassing two prodigious lakes opening up onto the desert and 35 km of a hypnotic dirt road.
    As a consequence of the terrorist threat, security was guaranteed by dozens of armed policemen and two armoured vehicles.

    (www.ansamed.info)

  • Onassis Foundation: Scholarships for Foreigners

    Onassis Foundation: Scholarships for Foreigners

    Λογότυπο Ωνασείου22ND ONASSIS FELLOWHIPS PROGRAM FOR INTERNATIONAL SCHOLARS 2016-2017

    The Foundation announces the twenty-second (22nd) annual Program of scholarships starting on October 1st, 2016  which is addressed to non-Greeks, University Professors of all levels (Ph.D. holders), Postdoctoral Researchers and Ph.D. Candidates.Application Submission Deadline: 26th of February 2016

    More information here