Economy
Economist ranks Greek economy in top place
The Economist ranked Greece at the top of the list for the second time in a row of 35 countries with the best economic performance for 2023 on Monday.
Greece secured the top position for the first time in The Economist 2022 analysis of 34 prosperous nations.
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Change of environment
The fact that six out of 10 Greek businesses don't have a single employee underscores the fundamental shortcomings of the local economy.
The environment needed to liberate creative potential from the culture of the "mom-and-pop store," which frequently fosters informal economic activity and under-the-table labor, is still lacking.
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The multiple benefits of investment grade
Markets are expecting Greece to regain investment grade soon after Sunday's general election, provided that a strong government comes out of the process. When Greek bonds emerge from the "junk status" they have been at for more than 12 years, they will not be the only ones to benefit.
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EFKA has seven priorities scheduled
The planning of the Single Social Security Entity (EFKA) for the next few months provides for the closure of tens of thousands of pending issues.
Retroactive refunds to tens of thousands of insured persons, the cancellation of debts that have not been sought for 10 years, as well as "rebates" for payment of contributions are to be dealt with by this fall.
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US Congress approves funding for Elefsis Shipyards
The US Congress has approved financing through borrowing for ONEX Shipyards to carry out the consolidation plan for Elefsis Shipyards.
The US International Development Finance Corporation (DFC), America's development bank, will provide the amount of $125 million.
This financing will be the first so far from DFC for Greece.
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Greece to auction T-bills on Wednesday
The Public Debt Management Agency announced on Friday that on Wednesday it will auction 26-week treasury bills in book entry form with maturity on December 29.
The settlement date is Friday, June 30.
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UK recession fears mount
Fears that the British economy is heading for recession mounted sharply after the Bank of England raised borrowing costs by more than anticipated.
The Bank of England on June 22 decided to lift its main interest rate by half a percentage point to a fresh 15-year high of 5 percent.
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Exports climb to $22 billion in May
Türkiye's exports rose 14.4 percent from a year ago to $21.7 billion in May, after plunging 17 percent annually in the previous month, data from the Turkish Statistical Institute (TÜİK) have shown.
Imports, which declined nearly 5 percent in April, increased by 15.5 percent last month to stand at $34.2 billion.
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Hellenic Bank posts Q1 profits of almost 70 mln euros
Hellenic Bank, Cyprus' second-largest lender, has reported a profit of 69.7 million euros for the first quarter of 2023, signaling a strong start to the year.
ATHEX: Minor drop this week for bourse index
The Greek stock market ended the pre-election period with moderate gains as traders chose to position themselves carefully in certain blue chips at the conclusion of a week of small losses for the benchmark at Athinon Avenue.
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