Economy
Economy
Amazon Creates First Solar Park in Greece
Amazon is continuing its investment in Greece with the creation of a solar park in Makrihoria, Aetoloakarnania.
This project is one of a total of thirty-nine new renewable energy projects announced by Amazon in Europe, adding more than 1GW of...
Economy
Greece Wins Investment Grade From Standard & Poor’s
Greece's economy received a substantial boost late on Friday after Standard & Poor's upgraded its rating to investment grade for the first time since the country’s debt crisis in 2010.
Standard & Poor's, became the first among the “big three”...
Economy
Cryptocurrency as Fuel for Hamas Attack
The war between Israel and Hamas marked the biggest escalation in the Middle East since 1973, but now cryptocurrencies play a special role. The hostilities began with an attack by Palestinian militants on units of the Israel Defense Forces...
Economy
Greece Among Europe’s Top Five Most Expensive Airbnb Destinations
Greece is one of the five European countries with the most expensive Airbnbs. Prices have skyrocketed over the past twelve months.
A recent report from travel analytics company AirDNA found a surge in European travel, with average daily rates (ADR)...
Economy
IMF: Greek Economy to Grow Faster Than Eurozone Average
The Greek economy is expected to grow by 2.5% this year and 2% in 2024, significantly exceeding average growth rates of 0.7% and 1.2% in the eurozone, the International Monetary Fund (IMF) said in its World Economic Outlook report...
Business
Foreign Investments in Greece Soared by Over 50 Percent in 2022
Foreign direct investment projects in Greece increased by 57 percent in 2022, according to a survey presented earlier in the week in Athens by Ernst & Young (EY), a British multinational professional services partnership headquartered in London.
The "Attractiveness Survey...
Economy
Greece Projects Economy Growth at Faster Pace in 2024 Budget
The 2024 budget tabled in Parliament on Monday shows that Greece's economy is projected to grow at a faster pace next year, rising by 3.0 percent compared to a 2.3 percent expansion this year.
According to the draft budget, Greece...
Economy
Greek Banks Win Credit Upgrades from Fitch and Moody’s
Greek systemic banks earned credit upgrades from credit agencies Fitch and Moody's on Tuesday following a recent round of upgrades of Greece's credit rating.
Fitch Ratings upgraded Eurobank SA's Long-Term Issuer Default Ratings (IDRs) to 'BB' from 'BB-', and Viability...
Economy
John Koudounis on Interest Rates, Inflation, Recession Fears, Crypto and AI
"Most likely we will avoid a recession" notes John Koudounis in an exclusive interview to Greek Reporter. The president and chief executive officer of Calamos Investments also spoke about the US economy, interest rates, inflation, recession fears, crypto and...
Business
‘I Do Not Foresee Lower Interest Rates Soon’ Koudounis Tells Concordia Summit
John Koudounis, president and chief executive officer for Calamos Investments told the Concordia Summit taking place in New York that he does not foresee lower interest rates soon.
Koudounis spoke at a panel titled "Navigating Investment Landscapes: Capital and Opportunity"...
Economy
Agriculture in Greece Devastated by the Deadly Floods
Agriculture in Thessaly, the region regarded as the bread-basket of Greece, has been devastated by the recent floods that left 16 people dead.
Αlmost 70% of cotton crop in Thessaly, Greece is estimated to have been damaged by the floods...
Economy
Greece Gets New Credit Rating Boost from Moody’s
Late Friday, the ratings firm Moody's gave Greece's economy a significant vote of confidence by raising the country's credit rating by two notches.
Moody's said it was upgrading Greece's rating from Ba3 to Ba1, with a stable outlook. It stopped...
Economy
Greece Credit Rating Raised to Investment Grade by DBRS
Rating agency DBRS Morningstar lifted Greece’s credit rating to investment-grade status to triple B on Friday following recent upgrades of other international agencies.
DBRS said the upgrade reflected its view that, in line with Greece’s “impressive” record, “the Greek authorities...
Economy
Greek Economy Grew by 2.7% in Second Quarter
The Greek economy recorded a growth rate of 2.7 percent in the second quarter of 2023 compared to the same period in 2022, according to data compiled by the Hellenic Statistical Authority (ELSTAT).
ELSTAT data indicate that, on an annual...
Economy
Oil Prices Rise as Saudi Arabia and Russia Extend Production Cuts
Oil prices hit a new annual high as Saudi Arabia and Russia, the world's largest oil exporters, announced an extension of production cuts. Brent crude, the global benchmark, rose 1.8 percent and traded above ninety dollars per barrel, while...