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Cyprus seeks ways to boost climate action

Cyprus seeks ways to boost climate action The Cyprus Economy and Competitiveness Council is proposing the creation of a Deputy Ministry for Climate, as part of its suggestions for green development and energy. A statement from the council on Wednesday said that the proposal incorporates seven suggestions which will act as a catalyst for the […]

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Egypt, Israel to boost gas supply to EU amid Ukraine war

Egypt, Israel to boost gas supply to EU amid Ukraine war Egypt, Israel, and the European Union on Wednesday signed a deal to increase liquified natural gas sales to EU countries, who aim to reduce dependence on supply from Russia as the war in Ukraine drags on. The deal, stamped in a five-star Cairo hotel, […]

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Crete: Hot air balloon flights over the Lassithi plateau boost tourism

Crete: Hot air balloon flights over the Lassithi plateau boost tourism Local authorities chose the hot air balloon flights to promote the Lassithi Plateau, its special geomorphology, and to boost tourist flows, following a different approach, that for those who dare, has become an obsession. Crete is the first region in Greece to try this […]

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Weary of waiting for EU, Balkan trio boost regional integration

Weary of waiting for EU, Balkan trio boost regional integration Frustrated by their countries’ sluggish progress toward joining the European Union, three Western Balkan leaders moved Wednesday to further boost regional economic and labor integration. Serbian President Aleksandar Vucic, Prime Minister Edi Rama of Albania and Prime Minister Dimitar Kovachevski of North Macedonia signed deals […]

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Gentiloni: EU countries can tap recovery fund to boost LNG capacity

Gentiloni: EU countries can tap recovery fund to boost LNG capacity European Union countries will be allowed to use money coming from the EU recovery fund, created to support post-pandemic economic growth, to boost their liquefied natural gas capacity (LNG), EU Commissioner Paolo Gentiloni said on Saturday. Since Russia’s invasion of Ukraine, EU countries have […]

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Draft law aims to boost business partnerships

Draft law aims to boost business partnerships Finance Minister Christos Staikouras told Parliament on Wednesday the bill aimed at boosting entrepreneurship that is currently being debated is another decisive step in a wider plan for the transformation of the Greek economy. Staikouras said the legislation will introduce the institution of partnerships between enterprises, improve tax […]

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Virtual net metering program for businesses on the way

Virtual net metering program for businesses on the way A special program to boost energy efficiency, which will include “virtual net metering” for businesses, amounting to 1.259 billion euros of public spending, is coming within the year. Virtual net metering can be a way out of the energy crisis for the business world as it […]

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Athens looking to UAVs to boost defense

Athens looking to UAVs to boost defense Amid the progress made by Turkey in drone technology, discussions have been ongoing in Athens to counter this threat, focusing on the supply of unmanned aerial vehicles, their construction domestically, but also anti-UAV defense systems.  To this end, a French proposal for the supply of new Patroller drones […]

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Promotion of Paros and Elafonisos in the USA

Promotion of Paros and Elafonisos in the USA Aiming to boost travel traffic from the US. to Greece, important promotional contacts were made for Paros and Elafonisos during the visit of the collaborating group of the consulting company of the two Municipalities in New York in the context of participation in the popular travel exhibition […]

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Lignite given temporary lease on life

Lignite given temporary lease on life Greece will boost coal mining by 50% and extend the operation of all its lignite-fired power plants to 2028, instead of closing them down by 2023 as previously planned, to reduce dependence on natural gas, Prime Minister Kyriakos Mitsotakis announced on Wednesday. The country’s state-run power utility PPC had […]

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Plan B to boost gas reserves being prepared

Plan B to boost gas reserves being prepared The Greek government is preparing a backup plan to ensure adequate energy imports in case Russia stops supplying natural gas, in violation of the agreement signed between Greece’s Public Gas Corporation and Russia’s Gazprom. Part of the plan is to expand the capacity of the liquefied natural […]

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Greece and China Sign Deal to Boost Tourism

Greece and China Sign Deal to Boost Tourism Greece and China agreed to strengthen tourism between the two countries on Monday. Credit: Greek Ministry of Tourism Greece and China signed a deal on Monday with the goal of strengthening tourism between the two countries in the future. Greek Tourism Minister Vassilis Kikilias and Xiao Junzheng, […]

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EU to boost military support to Kyiv, mulling new sanctions

EU to boost military support to Kyiv, mulling new sanctions European Union leaders said on Friday they will continue applying pressure on Russia by devising a new set of sanctions to punish Moscow for its invasion of Ukraine while stepping up military support for Kyiv. The EU’s top diplomat, Josep Borrell, said the 27 officials […]

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Azeri gas flow to Europe set to increase

Azeri gas flow to Europe set to increase Azerbaijan plans to boost natural gas supplies this year and pump 16.2 billion cubic meters (bcm) via the Trans-Anatolian Natural Gas Pipeline (TANAP), mainly to Europe, and almost double its capacity in the future, the consortium’s head said on Wednesday. The European Union this month said it […]

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EU to boost support to Cyprus as migrant flows across ceasefire line rise

EU to boost support to Cyprus as migrant flows across ceasefire line rise The European Union will provide Cyprus with extra support to help it cope with a surge in migrant arrivals across the island’s ceasefire line, the bloc’s executive said on Monday. Cyprus, the EU’s easternmost state, says numbers of irregular migrants, predominantly from […]

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Greece expects tourism boost from Australia

Greece expects tourism boost from Australia “Αustralia is lifting the travel restrictions for vaccinated citizens from February 21, something that is expected to significantly increase tourist flows from Australia to Greece in 2022,” stated Tourism Minister Vassilis Kikilias after his meeting on Friday with Australian Ambassador to Greece Arthur Spyrou at the Tourism Ministry. Kikilias […]

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Industrial park investment boost from Greece 2.0 subsidy

Industrial park investment boost from Greece 2.0 subsidy Investments in industrial parks are set to grow following a decision by Alternate Finance Minister Thodoros Skylakakis to set aside 65.2 million euros from the “Greece 2.0” masterplan as support for nine modern business parks in Greece. The funds will be issued in the form of grants […]

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Robots give Greece’s postal service speed boost

Robots give Greece’s postal service speed boost There’s a new addition to Greece’s postal service: a fleet of yellow robots sorting through the mail. Fifty-five small, four-wheeled autonomous mobile robots – or AMRs – powered by artificial intelligence, glide around Hellenic Post’s sorting center in Athens, speeding up an often arduous process. They scan the […]

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Tourism ministry announces campaign to boost winter, all-year-round holiday season

Tourism ministry announces campaign to boost winter, all-year-round holiday season Greece’s relevant tourism minister on Wednesday announced an ad campaign to boost winter tourism in the country, with an emphasis obviously focusing on mountainous destinations on the mainland. The campaign comes on the heels of a better-than-expected summer season in the country, with most targets […]

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Corporations get boost from taxman

Corporations get boost from taxman The government is not only making the reduction of the corporate tax from 24% to 22% from this year permanent, but it is also slashing that figure by almost a third, to 15.5%, for corporations that merge, according to the Finance Ministry plan for the enlargement of enterprises in Greece. […]

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State coffers to get fresh boost

State coffers to get fresh boost The combination of higher growth and the increase in inflation is good news for tax revenues. The estimates on both fronts are being upwardly revised for this year – the midterm fiscal plan provided in April for zero inflation and 3.6% growth – so the target for tax takings […]

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Greek bond yields buck trend to decrease after PEPP boost

Greek bond yields buck trend to decrease after PEPP boost Greek government bond yields start the new week on Monday after falling for a second session in a row on Friday and avoiding a sell-off that struck the rest of the market. By Friday’s closing the benchmark 10-year bond yield had dropped to 0.767%. The […]

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Greek bond yields drop again on PEPP boost

Greek bond yields drop again on PEPP boost Greek government bond yields fell for a second session in a row on Friday as the ECB’s cautious stance supercharged Southern Europe – but especially Greece, the biggest beneficiary of the central bank’s pandemic emergency purchasing program (PEPP). The European Central Bank said on Thursday it would […]

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Tourism gives growth a boost – The resorts were inundated by foreign and Greek tourists

Tourism gives growth a boost – The resorts were inundated by foreign and Greek tourists With bookings until mid-September showing particular momentum in almost all of the major popular tourist destinations, Greece is very close to winning this year’s “bet”: To achieve, that is, the goal of 50% of tourism revenue compared to 2019 arrivals, […]

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Mitsotakis vows to boost firefighting capabilities

Mitsotakis vows to boost firefighting capabilities Greece will boost its firefighting capability with the purchase and lease of additional water-dropping aircraft, Greek Prime Minister Kyriakos Mitsotakis said on Wednesday during a parliamentary debate on the massive wildfires that tore across the country this summer. Earlier this month, government officials said Greece has 74 firefighting aircraft […]

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Ethniki Bank – Growth of more than 13% with a boost from consumption and tourism

Ethniki Bank – Growth of more than 13% with a boost from consumption and tourism The latest update of the NBG’s high frequency forecast of Greek GDP shows that Q2 GDP growth was very strong and more broad-based than the previous estimate. GDP is now projected to have increased by c. 13.0% y-o-y (0.7% q-o-q, […]

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Greece to boost aerial firefighting capability, PM says

Greece to boost aerial firefighting capability, PM says Greece will boost its firefighting capability with the purchase and lease of additional water-dropping aircraft, the Greek prime minister said Wednesday during a parliamentary debate on the massive wildfires that tore across the country this summer. Kyriakos Mitsotakis did not give more details. Earlier this month, government officials […]

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Attracting senior tourists can boost economy by €21.8 bln per year

Attracting senior tourists can boost economy by €21.8 bln per year Greece could reap annual benefits of 21.8 billion euros from tourism for the elderly, wellness, spa and medical tourism, a diaNEOsis survey has found. It showed that if the country attracts an additional 1 million tourists a year aged 65 years old or over, […]

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ECB boost to local bonds and banks

ECB boost to local bonds and banks The latest announcements of the European Central Bank on inflation and the forward guidance on interest rates are securing, according to analysts, reduced borrowing costs through the end of 2024, with even longer prospects for an extension of quantitative easing. Although an extension of the extraordinary QE program […]

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Commission approves extra 100 mln euros for health system boost

Commission approves extra 100 mln euros for health system boost The European Commission has approved an additional 100 million euros for Greece in the business program for Reforming the Public Sector 2014-2020, which forms part of the Partnership Agreement for the Development Framework. According to the proposal by the Greek Development and Investments Ministry, these […]

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