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Business

Greece Offers 120 Million in State Aid to Prop Up Aegean

Greek government spokesman Stelios Petsas announced on Monday during his usual press briefing that the government would soon be awarding 120 million euros in support to Aegean Airlines to help get them through this tough, pandemic-ravaged year. There will also...

Greek Scientist Elected Chairman of Global IT Flagship Organization

The World Information Technology and Services Alliance (WITSA) on Tuesday elected Yannis Sirros as Chairman of the Hellenic Information Technology and Communications Enterprises (SEPE) for the term 2020-2022. WITSA is a consortium of associations from the information and communications technology...

Greece Now Has Legions of Coronavirus Infected Minks

Covid-19 has now been detected in thousands of minks at a farm in northern Greece, according to an Agriculture Ministry official's statement on Friday. The testing of the animals was spurred by the discovery just days ago of the virus...

Greece in Talks With London-Based Banks for Relocation to Athens

The Greek government revealed on Friday that it is in discussions with three London-based banks regarding their possible relocation to Athens following the official exit of the UK from the European Union in January. Speaking to Bloomberg TV, Alex Patelis,...

Greece Hopes to Entice "Digital Migrants" with 50% Tax Break

With an eye toward encouraging smart young Greeks who left the country for greener pastures during the economic crisis to return home, the Greek government has a new plan that would make the prospect hard to resist. But the...

Former Google CEO Reportedly Granted Cypriot Citizenship

Former Google CEO Eric Schmidt and his family have now become citizens of the island nation of Cyprus, according to Cypriot and foreign media reports. The former software magnate and CEO, who is now worth a cool $19.2 billion as of...

Greek Australians Rank Among Country’s Wealthiest People

According to the annual "Rich List," recently released by Australian publication Financial Review, three Greek Australians are on the list of the country's 100 wealthiest people. Born on the Greek island of Kythira, Nick Politis is known for his 38...

Greece Receives Boosted Credit Rating from Moody's

Moody's, the bond credit rating agency, upgraded Greece's credit rating on Friday, giving the country's market a boost amidst the Covid-19 pandemic. The country's rating went from a B1 to a B3, signaling the possibility of economic recovery in the...

Greece Under Lockdown: Travel, Shopping, Work in the Covid Era

Greek authorities on Thursday detailed the restrictions of public travel to be put in place starting at 6.00 AM on Saturday and published a list of the businesses that which will be allowed to continue working during the three-week...

EU Says Greek Economy to Contract Nine Percent in 2020, Rebound in 2021

A new European Commission report released on Thursday stated that it expects the Greek economy to contract by 9.0 percent this year, but rebound, growing by 5.0 percent in 2021,  due to the economic upheaval caused by the coronavirus...

Trump Gave In to Erdogan Over Turkish Bank, Russian Missiles, Reports Say

The close ties between U.S. President Donald Trump and his Turkish counterpart Recep Tayyip Erdogan are once again in the spotlight a few days before the presidential elections. In two separate reports, The New York Times and Reuters highlight the...

PM Mitsotakis Announces Thessaloniki Lockdown; Shops and Schools to Remain Open

Greek Prime Minister Kyriakos Mitsotakis announced on Thursday that another three regions will be placed on lockdown, including Greece's second-largest city of Thessaloniki, due to the recent spike in the number of coronavirus infections. "You see what is happening all...

EU Says Greek Workers Fared Better than Others in Second Quarter of 2020

Greece was one of the European countries that has been proven to be most successful in protecting jobs during the second quarter of 2020, when the labor market was so severely tested throughout the European Union by lockdowns to...

Officials Say Mohegan Casino Project Could be Ready in Three Years

The CEO of Mohegan Entertainment, Mario Kontomerkos, announced on Wednesday that the gigantic casino development in Hellinikon would be ready within 36 months after building licenses are issued, while reassuring the public that his company is ready to take...

Saudi Supermarkets Replace Turkish with Greek Products as Boycott Bites

Saudi supermarkets are pulling down Turkish products and replacing them with products from Greece, Egypt and Morocco as the Kingdom's authorities have called for a sweeping boycott of “everything Turkish.” Social media users are posting photographs from supermarkets where products...