Economy

According to Eurostat data reported and reviewed by the Development Ministry on Monday, Greece holds the second position in the European Union in terms of Government Budget Allocations for Research & Development (GBARD) over the long term. From 2012 to...

A new investigation has uncovered a widespread practice of illegal transportation of Russian oil, according to Le Monde. The investigation has revealed an underground practice of transporting hydrocarbons in old and covert tankers in open seas. This shipping method has...

Scope, the leading European provider for credit ratings, raised Greece's rating to investment grade on Friday. Scope upgraded Greece's long-term local- and foreign-currency issuer and senior unsecured debt ratings to BBB-, from BB+, and revised associated outlooks to stable, from...

Credit agency Fitch has downgraded the US government's credit rating following what it called a "steady deterioration" in governance over the last twenty years. Fitch, one of three major independent agencies that assess creditworthiness, cut the rating from the top...

The Japanese rating agency Rating and Investment Information (R&I) announced on Monday that it has raised the Greek economy rating to investment grade BBB-, with a stable outlook. The investment grade is considered a harbinger of new upgrades by rating...

On Wednesday, the United States Department of State released Investment Climate Statements, including a report on Greece. The Investment Climate reports offer valuable insights to US enterprises, enabling them to make well-informed business choices. The reports provide current and comprehensive...

According to the latest statistics, holiday home sale prices on the immensely popular Cyclades islands in Greece are at a ten-year high. The most significant surge in prices can be observed in ultra-luxury properties featuring distinctive attributes, particularly in Mykonos. Of...

Greece on Tuesday successfully completed a 15-year syndicated bond issue, raising 3.5 billion euros ($3.86 billion) at an interest rate of 4.45%. Bids submitted exceeded 13.4 billion euros, of which 11.6 billion in cash and 1.8% in bond swap. The Greek...

Prime Minister Kyriakos Mitsotakis pledged on Tuesday that Greece will make an early repayment of 5.3 billion euros of bilateral bailout loans from European countries by the end of the year. This pledge for repayment ahead of time is a...

In May, the unemployment rate in Greece fell to 10.8% according to data released by the  Hellenic Statistical Authority on Friday. The newly released statistics are generally consistent with a trend toward lower unemployment in Greece over the past few...

The Bank of Greece (BoG) sees an acceleration of recovery in Greece after 2023 with growth projected at 2.2% in 2023, 3% in 2024, and 2.7% in 2025. According to its projections, included in its annual Monetary Policy Report 2022-2023...

The EastMed pipeline to transport natural gas to Central Europe through Greece is expected to undergo a market test by the end of 2023.

Google Cloud made an important announcement on June 21, 2023. They have introduced a new product called Anti Money Laundering AI (AML AI). This product utilizes artificial intelligence (AI) to assist global financial institutions in detecting money laundering more...

Turkey’s central bank raised the key interest rate Thursday, almost doubling it from 8.5% to 15% as the new economic administration of recently re-elected President Recep Tayyip Erdogan embarked on a dramatic monetary policy U-turn. The whopping 650-basis-point rate rise...

Major international companies, including Amazon, Marriott, and Hilton, made a significant announcement on Monday. They have committed to employing over 13,000 refugees in Europe over the next three years. Among these refugees are Ukrainian women who have fled the...