ECB caution on rate cuts limits growth
The European Central Bank’s cautious monetary policy will be partly responsible for the eurozone’s weak economic growth over the next year or two, UK-based research firm Capital Economics maintains.
Inflation shoots up to 2.7%
Inflation edged higher in July, ending a run of decreasing rates. The Consumer Price Index published Friday by the Hellenic Statistics Authority grew 2.7% year-on-year, up from 2.3% in June.
Authorities intensify beach concession inspections
More than 12,500 inspections have been conducted on beach concessions for violations of concession terms, 2,500 in the last week alone. Authorities have shut down 36 businesses, 14 in the past week.
Dependence on Russian natural gas growing fast, as LNG imports tank
Imports of natural gas from Russia reached an all-time high energy equivalent of 3.69 terawatt-hours in July, at the expense of liquefied natural gas (LNG), which was supposed to lessen our dependence on Russian gas.
New Crete airport to be finished by early 2027
The new airport at Kastelli, near Iraklio on the island of Crete, is under construction and will be completed in February 2027.
Draft bill proposes replacing stamp duty with digital fees on over 600 transactions
A draft bill ending stamp duty in more than 600 transactions is now at the public consultation stage.
Ship brings rocky clues to life’s origins up from ocean’s ‘Lost City’
Researchers have long argued that regions deep in the Earth’s oceans may harbor sites from which all terrestrial life sprung. In the Atlantic, they gave the name “Lost City” to a jagged landscape of eerie spires under which they proposed that the life-preceding chemistry may have churned.
Mobile banking use growing at rapid pace
Mobile banking users in Greece have reached 6.2 million, more than users of internet banking through PCs, which number 3.6 million.
Greece ranks third globally in attracting mobile millionaires
Greece is expected to be third among European countries in attracting globally mobile millionaires in 2024, behind Italy and Switzerland and ahead of Portugal, British investment migration consultancy Henley & Partners said.