Economy

Will UAE-Backed Data Centers Strain Greece’s Water and Drive Up Electricity Bills?

The United Arab Emirates has announced its intention to invest an additional €15 billion in Greece. It was announced on October 22, during a visit to Athens by Abu Dhabi's Crown Prince, Sheikh Khaled bin Mohamed bin Zayed Al...

Greece Plans 15% Tax on Cryptocurrency Profits

The Greek government is reportedly finalizing legislation to impose a 15% tax on capital gains derived from cryptocurrencies, aiming to formally integrate digital assets into the national tax code. According to government officials who spoke to Reuters on Friday,...

80% of Greeks Say Greece Is Unfair to Its Citizens

A new survey has shown that eight in ten Greeks (80.4 percent) perceive of life in Greece as unfair to citizens, while 81.9 percent believe that wealth is distributed unfairly in favor of businessmen, while 86.5 percent call for...

Alexander the Great and His Impact on the Empire’s Economy

The Asian campaign of Alexander the Great had an unexpected impact on the economy of Macedonia and the rest of Ancient Greece. The conquests of the cities of Damascus, Persepolis, Susa, Sardes, and others brought the massive amount of 180,000...

Greece Ratifies Major Offshore Gas Exploration Deal With Chevron

The Greek Parliament passed a draft bill on Friday ratifying four lease agreements that grant a Chevron-led consortium the rights to explore and exploit natural gas and hydrocarbons in maritime blocks south of Crete and the Peloponnese. The consortium is...

Greece’s Elefsina Shipyards Restore Rail Operations After 30 Years

After decades of silence, the railway tracks at Greece’s iconic Elefsina Shipyards are being brought back to life. Once abandoned and largely forgotten, they are now set to host rail wagons again, marking a significant shift for the wider...

Scope Ratings Upgrades Cyprus to A, Citing Strong Finances and Falling Debt

Scope Ratings has upgraded Cyprus’ long-term sovereign credit rating to A from A-, marking the country’s first upgrade of the year and revising the outlook to stable from positive. The German rating agency said the decision reflects a significant strengthening...

Gold Tops $5,000 an Ounce Amid Geopolitical Turmoil

Gold prices surged past US $5,000 price per ounce for the first time late Sunday and into Monday, extending a historic rally driven by deepening geopolitical instability and investor anxiety regarding US foreign and domestic policy. The precious metal, traditionally...

Gold Price Hits Over $4,000 for the First Time in History

The price of gold climbed past $4,000 an ounce on Tuesday for the first time in history, driven by a weaker dollar, increasing expectations for more Federal Reserve rate cuts and renewed demands from central banks and investors seeking...

185 Greek Shipping Firms Shut Down in Long-Term Decline

The number of Greek shipping companies fell to 588 in 2024, continuing a long-term decline from 773 firms in 2009, a net loss of 185 companies over 15 years, according to Petrofin Research. At the same time, the Greek-owned...