Finance

A series of measures to support low-income families, unemployment benefits in Greece, and pensions, announced by Greek PM Kyriakos during his TIF address last week were detailed on Thursday.

The agreement includes further investments and expenditures for upgrades and modernization, totaling 380 million euros over the duration of the concession

Eli Cohen, the Israeli energy minister, said he spoke with his Cypriot counterpart over the proposed project, which aims to link the power grids of Israel, Cyprus and Greece

More specifically, in Greece, last year alone, one in four cigarettes smoked by consumers was trafficked illegally

The US-based multinational finance company, however, stresses that Greek banks remain slightly undervalued compared to the emerging markets and European sectors

While the Greek economy is indeed recording solid figures, its citizens are becoming impoverished, and the situation could worsen over time, as analysts pointed out in an article in the Financial Times (FT) published a few months ago

This means that the maximum expense cap is likely to rise to 15,000 euros from 10,000 euros where it stands now, with a possible increase in the advance payment percentage as well.

Through the issuance of new bonds recently, the banks have significantly improved their capital positions while at the same time reducing the average cost of servicing their obligations.

Both Greek, Cypriot energy ministers merely note that negotiations will continue; Nicosia has tabled reservations over cost-sharing, project's viability

Olive oil, a cooking staple in the country, recorded a whopping price hike of 49.1%

The seasonally adjusted General Industrial Production Index in Greece for July 2024, compared to June 2024, showed an increase of 1.7%

While the Greek exports to Turkey were down, the balance of Greek imports from Turkey during the same period amounted to $2.31 billion, compared to $1.88 billion in the first half of 2023, showing an increase of 22.8%.

The 2-billion-euro Israel-Cyprus-Greece project, the Great Sea Interconnector (the GSI cable), remains in limbo over financial, geopolitical concerns

Some of the other issues the Minister touched upon during the interview were Greek energy in shipping, the costs of ferries, and illegal migration. 

The Hellenic Confederation of Professionals, Craftsmen & Merchants (GSEVEE) said the Greek government was overlooking small businesses in favor of larger enterprises

Pavlos Mylonas spoke at the annual Energy conference, co-organized by the Greek-American Chamber of Commerce and the Hellenic Association for Energy Economics at the Thessaloniki Trade Fair (TIF)

As for the increase in the minimum wage, she reminded that it currently stands at 830 euros with the government’s goal being to reach 950 euros by 2027.

These targeted measures signal the government’s intention to put a stop to the uncontrollable expansion of Airbnb’s across the county

However, thousands of taxpayers will benefit from a discount of up to 20% on the ENFIA tax they will be required to pay.

Analyst Orestis Omran, during an interview at the OT.gr studio within TIF: 'Implementation of the project will contribute to lifting Cyprus' energy isolation'