Finance

The formal agreement came a day after Cyprus’s energy regulatory authority made key changes to the regulatory framework of the cable and subsequently approved the project

The number of people receiving jobless benefits was 176,931 in August 2024

The macroeconomic profile also reflects Greece's improved credit conditions, which are still characterized by high levels of non-performing loans (NPLs) compared to the European sector.

Progress for the landmark undersea power cable had stalled after disputes between the regulatory authorities of Greece and Cyprus over cost- and risk-sharing

The rise is primarily attributed to the fall of the balance of goods records and, to a lesser extent, to the balance of primary income.

Fines for failure to comply range between 500 and 1,000 euros per tax office audits

The visit to the Alexandroupolis FSRU Terminal was organized by the Hungarian embassy and further underscores the importance of the project for the EU in its bid to improve the continent's energy security.

The latest conflict between Greece's taxi drivers and the country's Ministry of Finance is over a sticker. But it is not just any sticker- this one is huge and informs riders that they can pay by credit card and are entitled to a receipt.

Public sector debts to private entities have once again increased in Greece, reaching 3.2 billion euros in July 2024

The meeting between the two leaders will decide the fate of the 2 billion euro Great Sea Interconnector (GSI) project.

Both the islands of Mykonos and Santorini saw decreases in their accommodation and food service revenues.

Specifically, from Jan. to Aug. 2024, the central government recorded a cash surplus of 1.368 billion euros, compared to a deficit of 964 million euros in the same period of 2023.

The greenhouse sector is already one of the most dynamic areas within the primary sector and presents a viable solution to the pressing issues caused by the climate crisis.

The country has 3.3% compared to the Union’s 1.9% average in the first quarter of 2024, according to a study by OCTANE Management Consultants, an Athens-based business consulting and services firm.

The annual inflation rate for the European Union was 2.4% in August 2024, down from 2.8% in July, while a year earlier, it stood at 5.9%.

Cyprus' cabinet has approved one of the four pending issues regarding the €2 bln Greece-Cyrpus Great Sea Interconnector (GSI) project. Greece's PM Mitsotakis and Cyprus' President Christodoulides will meet in Athens Thursday to discuss the project.

This allowed Eurobank to raise 850 million euros and reduce the bond’s credit spread to 180 basis points, down from the initial indicative offer of 210 basis points.

The purpose of the reissuance of these Greek government bonds is to meet investor demand while also facilitating the functioning of the secondary bond market.

The Greek sector outpaced its European competition—both in quantity and monetary value—with the latter experiencing a dip in monetary value of -7.5% over the same period.

Previous concerns by Cyprus' power regulator over cost-sharing and sustainability in the face of geopolitical turbulance appear to have been overcome