Economy

Bank of Greece Governor Yannis Stournaras on Tuesday said there were encouraging signs from the development of micro-funding in Greece.

Pancreta Bank will make the first significant and fundamental step toward the creation of a strong bank in Greece with the full absorption of HSBC's operations in the country on July 28.

This will be followed by the completion of the mergers with Central Macedonia Bank and with Attica Bank. 

After two days of cautious profit-taking, the Greek stock market reverted to its upward course on Wednesday, led by mid-caps, which grew almost 2% on the day, while blue chips such as Aegean Airlines and Mytilineos climbed to historic highs.

Greece on Wednesday successfully completed an auction of a 25-year bond reopening, with bids exceeding 1.2 billion euros, six times more than the asked sum of 200 million.

Setting the minimum salary at 950 euros per month, from €780 today, and the average at €1,500 from €1,176.5 in end-2022 and €1,184 in end-May, is one of the key objectives of New Democracy, which is widely expected to win another four-year term in the elections this Sunday.

As of Wednesday Greek taxpayers (taxpayers and businesses) are "free" from their tax duty for this year, having covered the taxes and insurance contributions they have to pay to the state in 2023.

China's Central Bank yesterday cut two benchmark interest rates, following several similar measures in recent days in a bid to counter the post-COVID growth slowdown in the world's second-largest economy.

Last week, the People's Bank of China (PBoC) lowered two other key rates and pumped billions into financial markets, as fresh data showed the economy continued to struggle.

The retail of fast-moving consumer goods (FMCG) in Türkiye grew 99 percent last year compared with 2021, according to research conducted by consumer intelligence company NielsenIQ.

In the year 2000, the US government debt was $3.5 trillion, equal to 35% of the country's gross domestic product (GDP). By 2022, the debt was $24 trillion, equal to 95% of GDP. The US debt is soaring, hence America's current debt crisis. Yet both Republicans and Democrats are missing the solution: stopping America's wars of choice and slashing military outlays.

The gaps in the system that allow so much tax evasion to go unchecked, even when it comes to electronic transactions, have been pointed out again and again.