September 22, 2023
Economy
Insurance claims in the aftermath of storm ‘Daniel’ amount to 6,011, according to the first record, the Hellenic Association of Insurance Companies of Greece said on Thursday. Of these, 4,307 losses related to property insurance (1,714 residences, 2,032 businesses, 69 industrial facilities, 116 technical projects and 376 photovoltaic systems). The …
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September 21, 2023
Economy, FEATURED
Olive oil turns into a luxury item in Greece and we may soon find ourselves to use it as an expensive perfume applying just one drop behind our ear, leaving behind thousands of mourning tomatoes and vegetables crying over an oil-less, tasteless existence. As the prices increase week in, week …
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September 21, 2023
Economy, FEATURED
Representatives of the short-term rentals sector as well as of the hotel sector, are in favor of the measures recently announced by the government regarding the imposition of VAT and accommodation fee. However, as they argue, there are some issues regarding the specific measures that have not yet been clarified, …
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September 20, 2023
Economy, FEATURED
“Those who break the law will pay for it dearly,” Development Minister Kostas Skrekas said on Wednesday, threatening profiteers and announcing four new measures to combat high prices in big supermarket chains. The new measures come as Greeks have been struggling with 10-12% monthly inflation in food prices since 2022, …
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September 20, 2023
Economy
Fitch Ratings on Tuesday upgraded Greece’s four systemic banks ratings, following a recent round of upgrades of Greece’s credit rating. Fitch Ratings upgraded Eurobank SA’s Long-Term Issuer Default Ratings (IDRs) to ‘BB’ from ‘BB-‘, and Viability Ratings (VRs) to ‘bb’ from ‘bb-‘. The outlooks on the Long-Term IDRs are Stable. …
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September 19, 2023
Economy, FEATURED
Those arrested for arson with intent, linked to financial gain (cases of land development, economic exploitation of the area, etc.) will now face not only imprisonment but also the seizure of all kinds of assets, such as bank accounts, movable and immovable property. The significant intervention came from the head …
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September 18, 2023
Economy, FEATURED
Property owners who operate three or more Airbnb-type properties will be called to have closer contacts with Greece’s tax office, Prime Minister Kyriakos Mitsotakis announced on Saturday. At the same time the PM announced also an increase in the accommodation fee in order to cover up costs for damages caused …
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September 15, 2023
Economy, FEATURED
The debate on compulsory property insurance is back on the table in the shadow of the thousands of destroyed homes and businesses in central Greece. The proposal was tabled by the economic advisor to the Prime Minister, Alexis Patelis. The low percentage of insured homes, which according to insurance market …
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September 15, 2023
Economy, FEATURED
The online platform for submitting ‘Market Pass’ applications has opened on Friday, September 15, 2023. This applies for new beneficiaries as citizens who have received the previous ‘Market Pass’ will be automatically included in the process. Citizens can apply for financial aid to cover part of the increased household costs …
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September 14, 2023
Economy, FEATURED
The government will table a supplementary budget of nearly 600 million euros over the massive cost to the economy caused by the storm Daniel, National Economy and Finance Minister Kostis Hatzidakis told ANT 1 TV on Wednesday. Hatzidakis said that 450 million euros of the total would be earmarked for …
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September 13, 2023
animals, Economy, FEATURED
Livestock that survived the recent floods in central Greece will “die of starvation” if there is no immediate steps taken to cover the shortage in animal feed, breeders in flood-stricken areas in Central Greece warn. Surviving animals are at risk to die either of starvation or from contaminated water as …
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September 9, 2023
Economy
For the second month in a row, the general price index headed higher. Inflation rose to 2.7% in August from 2.5% in July as food prices remained steep, fuel prices strengthened, while increases were recorded in a range of services including transport, dining and health. Data show a rise in …
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September 3, 2023
Economy, FEATURED
A big raid by tax authorities in bars in Kavos on the island of Corfu revealed a truly disgusting practice: bartenders collected in canisters the rests from customers’ drinks and served them again to other customers as shots. The big scale operation by the Independent Public Revenue Authority AADE to …
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September 1, 2023
Economy, FEATURED
Greek and foreign tourists limited their dine out visits to restaurants during their vacations this summer, choosing more often to cook at the accommodation they were staying in or even turned to something ‘quick’ instead a proper meal at a tavern or restaurant. Although ELSTAT’s most recent figures for the …
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August 31, 2023
Economy
The eurozone’s annual inflation rate is expected to remain stable to 5.3% in August compared with the previous month, Eurostat said in its flash estimate. Looking at the main components of inflation in the eurozone, food, alcohol and tobacco are expected to have the highest annual rate in August (9.8% compared …
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August 24, 2023
Economy, FEATURED
Greek consumers still pay a high price for dairy products compared to the rest of the Europeans, even though the prices of fresh milk, yogurt and butter have fallen – even marginally – in the seven months of this year on the shelves of domestic supermarkets. However, it seems that …
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August 22, 2023
Economy
Passenger traffic at Greece’s airports went up by 7.6% in July compared to the same month in 2022 and 14.2% up compared to July 2019, according to data released by the Hellenic Civil Aviation Authority (HCAA) on Monday. Some 11,342,154 passengers went through the country’s airports in 2023, compared to …
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August 20, 2023
Economy
Greece trails other Mediterranean EU countries in per capita wealth, according to the 14th edition of the Global Worth Report issued by Swiss Bank UBS, joined this year by Credit Suisse, which it acquired a few months ago. However, in contrast to other southern European countries, namely Italy and Spain, …
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August 17, 2023
Economy
Tax revenues in the first seven months of 2023 exceeded budget targets by 2.3 billion euros, or 7.5%, according to figures released by the national economy and finance ministry on the execution of the Greek state budget on Wednesday. € The net result for the January-July period was a primary …
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August 10, 2023
Economy
Six contactless automated ticket vending machines have been installed at the main entrances of the Athens Acropolis, Ancient Olympia and Epidaurus archaeological sites, as well as the Archaeological Museum of Delphi, Visa announced on Thursday. The new service, the announcement said, is expected to significantly facilitate access and improve the …
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