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Economy

UK Price Inflation Rate Reaches 40-Year High

Consumer price inflation in U.K. has hit a 40-year high at 10.1 percent in the 12 months to July 2022, according to the latest data.

Shiba Inu Coin Records 30 Percent Spike Up

For crypto, the last year has been an utter disaster, but for Shiba Inu, which has been in the spotlight for recording a thirty percent spike in value in a span of only 24 hours, it's been a more...

Elon Musk Sells 7 Billion Worth of Tesla Shares

  CEO of Tesla, Elon Musk just sold 7.9 million shares of the company, bringing in $6.9 billion. The Securities and Exchange Commission received several documents late on Tuesday night detailing the sales from Friday through Tuesday. They represent Musk's first...

Greece Exits Enhanced Surveillance Status After 12 Years

A letter from EU officials has confirmed Greece's exit from the enhanced surveillance status in August 21.

US in ‘Technical Recession’ as GDP Contracts for a Second Quarter

The US economy has shrunk for the second quarter in a row, triggering one definition of a “technical recession,” according to data released by the Commerce Department on Thursday. The nation's gross domestic product fell at an annual rate of...

Short-Term Rental Bookings Skyrocket in Greece

Greece recorded the highest increase in short-term rental bookings of any country in Europe so far this summer, as tourism has surged. Greece leads the way in Europe for Airbnb-style rentals, which were up by 26.5 percent in the third...

Cyprus Suspends Real Estate Foreclosures

The Cyprus House of Representatives approved a controversial measure that prevents property foreclosures through October. The bill was passed over the objections of the finance minister, who argued it would punish homeowners and small businesses that pay their mortgages on...

Euro Equal to the US Dollar for First Time in 20 Years

The exchange rate between the euro and the US dollar is the same on Tuesday for the first time in 20 years. As of Tuesday morning Greek time, one euro is equal to exactly one dollar, meaning that the value...

Greece Exports Hit Record High, but Jump in Imports Signals Warning

Greece exported a record 20.5 billion euros ($20.6 billion) worth of goods in the first five months of the year. However, a rise in imports and a decline in domestic consumer spending dampened the good news. From January through May,...

US Marines Eat Alexandroupolis Out of All its Eggs

Hundreds of US Marines did their best to boost the Greek economy during a recent visit to Alexandroupolis, reportedly eating thousands of eggs from local restaurants after landing at the key military port city in northeast Greece. Several media reports...

Prices of Goods Continue to Increase in Greece

Prices of everyday goods in Greece continue to increase, which has caused shoppers to cut back significantly in recent months. The cost of everything from electrical appliances, cars, milk, and soap has increased substantially in Greece, much like in most...

Why Greece’s Tourism Industry Is Doing So Well?

After two years of lockdowns, tourism in Greece is making a strong comeback with officials claiming that 2022 tourism revenues will reach 90 percent of their pre-pandemic 2019 level during which the country saw receipts of 18 billion euros...

Germans the Top Foreign Home Buyers in Greece

Germans have climbed to the top place among foreign home buyers in Greece, spending increasing amounts on beachside property in areas such as Crete and the Ionian islands. Data from Elxis, a leading provider of real estate services that specializes...

The Most Expensive and Cheapest Areas in Greece to Buy Property

The price of properties in Greece has increased to unprecedented levels in 2022 with the Athens Riviera and the Cyclades leading the post-COVID recovery of the real estate market. According to Spitogatos the leading app used in Greece to search...

Inflation in Greece Climbs to 12 Percent in June, Growth Revised Downwards

Inflation in Greece reached 12 percent in the month of June from 10.5 percent in May and 9.1 percent in April, according to data released by Eurostat, the official statistical authority of the European Union announced on Friday. The rate...