Economy
Economy
IMF Predicts Inflation to Peak Amid Low Growth
The International Monetary Fund (IMF) released the latest World Economic Outlook report this week. The report tracks important global economic trends.
The forecast for growth remains low but has improved since the most recent projections. At the same time, the...
Business
Fitch Upgrades Rating of Three Major Greek Banks
Credit ratings agency Fitch raised on Monday the credit rating of three major Greek banks: Eurobank, National Bank of Greece and Alpha Bank. Last Friday, the credit rating of Greece's economy was raised to one notch below investment grade.
The...
Economy
Four Greek Ports Get EU Financing For Infrastructure Upgrades
Four Greek ports across the country have secured EU financing for the implementation of significant infrastructure upgrades.
Diplomacy
More US Investments Coming To Greece, US Ambassador Says
US Ambassador to Greece, George Tsunis, said on Friday that more investments are coming to Greece from the US in 2023.
Economy
Fitch Ratings Upgrades Greece to BB+ Outlook Stable IDR
Fitch Ratings upgraded Greece's Long-Term Foreign-Currency Issuer Default Rating (IDR) to "BB+" on Friday. The previous rating was "BB". The Outlook is now Stable.
The news is positive for the Greek economy, which has been on a bumpy road since...
Economy
Egg Shortage Drives Up Prices for Consumers
An egg shortage is driving up the price of eggs for consumers across the US and other countries. The main cause appears to be a strain of bird flu which is threatening commercial flocks of chickens. Economists have also...
Business
U.S. Media Giants Announce Staff Layoffs Amid Grim Economic Climate
Several large media corporations in the US, including CNN, Vox, BuzzFeed, and The Washington Post, have announced that they will lay off significant numbers of staff.
Journalists across the country could be facing unemployment in what increasingly appears to be...
Business
Alibaba Plans $1 Billion Plus Investment in Turkey
Alibaba Group Holding LTD. is planning to invest more than $1 billion in Turkey. The news became public knowledge after the company's president, Michael Evans, told the Turkish newspaper Sabah about Alibaba's investment plans in Turkey.
It was revealed that...
Economy
Greek Exports Increase by 37% Year-On-Year, Setting New Record
Greek exports in all major sectors set a new record in 2022, rising by double digits in the eleven months between January and November, according to the data released by the Hellenic Statistical Authority (ELSTAT) on Monday.
In the January–November...
Economy
OECD Lauds Greece on Recovery; Warns of Growth Slowdown
The recovery of the economy in Greece from the COVID-19 crisis was strong, supported by the continuation of reforms, the Organisation for Economic Co-operation and Development (OECD) said in an Economic Survey on Greece released on Tuesday.
It warned, however,...
Economy
Apple and Tesla: Tech Shares Tumble Amid Supply Issues
Technology companies Apple and Tesla are supposedly facing one of their most frustrating periods of business operations as their shares tumble amid supply-related issues.
Supply delays messing up these well-known tech giants emanate from their production lines in China, recording...
Business
US Bitcoin Miner, ‘Core Scientific,’ Is Filing for Bankruptcy
Core Scientific, one of the largest bitcoin miners registered in the US, is filing for bankruptcy.
The Texas-based company filed for bankruptcy on Wednesday. The firm said that it would continue mining bitcoin whilst it works out a restructuring deal...
Economy
Greece Named Top Economic Performer for 2022 by the Economist
Greece was named this week the top economic performer for 2022 among selected OECD nations by the Economist magazine.
The Economist ranked Greece according to five key indicators in its analysis of 34 OECD countries. Greece fared the best in...
Culture
Bank of England Reveals King Charles III Banknote Designs
The Bank of England has unveiled plans to keep a lasting legacy alive with the circulation of new banknotes featuring King Charles III in mid-2024.
The United Kingdom's central bank made the first public announcement on the design in the...
Economy
Greece Announces 10% Subsidy on Food Bills as Elections Loom
On Monday, the prime minister of Greece, Kyriakos Mitsotakis, announced a ten percent subsidy for every household's food purchases to help counter the burden of inflation.
The funds from the subsidy are estimated at around 650 million euros ($690.82 million)...