Economy

Greek alcohol exports reached historic highs last year according to Eurostat statistics processed by SEAOP. Ouzo proved particularly popular and was hailed as the "flagship" of the Greek alcohol industry. Greek alcoholic beverages were especially sought-after in Germany, which was...

A recent succession of oil deals has raised concerns in Washington that the supremacy of the dollar in oil transactions is threatened. Recent agreements made by countries like Saudi Arabia and China relating to the trade of crude and...

The Bank of Greece has raised its economic growth forecast for Greece this year, according to the central bank’s governor, Yannis Stournaras. Presenting the bank’s annual report on Friday, Stournaras said that the Greek economy is expected to grow by...

Tesla has become the most valuable car brand in the world, according to the latest survey from Brand Finance. The electric-car pioneer, led by Elon Musk, saw its brand value skyrocket by 44% to $66.2bn, making it the first car...

On Monday, oil prices rose by as much as 6% after Saudi Arabia, Russia, Iraq, and other members of OPEC+ announced that they would be cutting production by as much as 1.15 million barrels per day from May until...

Former Finance Minister of Greece, economist Yanis Varoufakis, proposes a digital alternative to private banking, provided by central banks.

Chinese culture belongs to one of the oldest civilizations, as does Greek culture, and Confucian teachings have been regarded as providing the definitive morality that underpins Chinese mentality and behavior, regardless of any religious background. By Steve Bakalis “The values of...

By Spiros Bougheas The recent collapse of Silicon Valley Bank (SVB), a regional US bank that funded start-up companies in the technology and innovation sector, has created a worldwide wave of financial instability. Despite the efforts of US financial regulators to...

The US central bank has raised its key interest rate by 0.25 percentage points, despite fears that the move could aggravate the global banking crisis. Wednesday's rate rise is the ninth in a row by the Fed. It lifts its...

Amazon has announced that it will lay off 9,000 employees in yet another round of redundancies initiated by the online retail giant this year. Amazon president and CEO Jeff Jassy cited an "uncertain economy" and cost-cutting as reasons for the...

Greece will raise the minimum wage from April 1 for a third time, Prime Minister Kyriakos Mitsotakis said on Friday, as high inflation takes a toll on household incomes. “I am under no illusions. I know that wages in our...

The shares of Greek banks took a hit on Wednesday following fears of a global meltdown after the troubles of banking giant Credit Suisse. Piraeus Bank and Alpha Bank closed with losses of 10.98 percent and 10.39 percent respectively, with...

Meta Platform will cut another 10,000 jobs as the tech sector prepares for a sharp economic decline. Facebook's parent company announced Tuesday that recruiting teams and tech groups would reduce in late April, then business groups in late May. Meta is...

On Monday, United States President Joe Biden sought to reassure Americans that the banking system is "safe" following the collapse of Silicon Valley Bank (SVB). The president also promised to introduce new banking regulations and made further assurances to United...

Silicon Valey Bank, a tech startup-focused lender, was shut down by US regulators, in what is described as the largest failure since 2008.