Greece’s Economy and Finance Ministry has detailed a €1 billion support package aimed at easing the burden on low-income pensioners and renters, following Prime Minister Kyriakos Mitsotakis’ announcement. The measures include rent rebates, annual pension supplements, and a major boost to public investment, made possible by the country’s strong fiscal performance and return to a primary surplus.
Tag: finance
The U.S. Office of the Comptroller of the Currency (OCC) has now allowed national banks to engage in cryptocurrency activities without needing prior approval, marking a significant shift in regulatory approach towards crypto in the banking sector.
The Bank of Greece (BoG) will transfer €69.6 million in profits from the 2024 fiscal year to the Greek state, following approval from its General Council. Despite a decline in net income and a sharp drop in pre-provision profits, the bank’s net profit reached €82.9 million after releasing provisions. Additionally, the Greek state and General Government bodies benefited from increased interest on their deposits, receiving €730.4 million and €392.3 million, respectively. The final profit allocation awaits shareholder approval.
Prime Minister Kyriakos Mitsotakis announced that the Greek government will prioritize regulating the cryptocurrency market…
JP Morgan has filed two new lawsuits against Viva Wallet and its majority owner, Werealize, escalating a dispute over the valuation of the Greek fintech company.
Greek shipowners continue to dominate the global tanker market, holding a commanding 16.9% share of new vessel orders. Recent activity includes significant newbuild deliveries and acquisitions by prominent Greek shipping companies like TMS Group, Laskaridis Shipping, and Dynacom Tankers, demonstrating their continued investment and strategic positioning within the evolving maritime landscape.
Explore the fascinating insights and philosophies of Aristotle Onassis through his timeless quotes. Discover the principles and ambitions that defined this legendary business mogul’s journey to success.
Cyprus has returned to the ‘A’ investment category for the first time since 2011 after Moody’s raised its credit rating to A3. This upgrade reflects strong economic growth, improved fiscal metrics, and declining public debt.
Greek finances are exceeding expectations, with the country repaying bailout loans ahead of schedule and anticipating a budget surplus for 2025, according to German newspaper Handelsblatt. This strong economic performance is driven by increased tax revenues, although Greece continues to address a VAT gap larger than the EU average.
JPMorgan Chase CEO Jamie Dimon will not be joining the Trump administration, ending speculation about him taking a senior government role. Dimon, who has led JPMorgan for nearly 19 years, reaffirmed his commitment to the bank despite previous rumors of him becoming Treasury Secretary. Billionaire hedge fund manager John Paulson is another potential candidate for the position.
Greece’s Economy and Finance Minister Kostis Hatzidakis announced that revenue from combating tax evasion will help reduce taxes. Highlighting a 10.3% increase in VAT revenue this year, he affirmed the government’s commitment to lowering tax burdens. Key strategies in the ministry’s plan include reducing social security contributions, abolishing the entrepreneurs’ levy, and lowering VAT rates to address social inequities and boost public revenues.
Credit ratings agency Standard & Poor’s (S&P) has reaffirmed Greece’s investment-grade rating of “BBB-” with a positive outlook. This confirmation marks a significant milestone for the country, which regained investment-grade status in October 2023 after years of economic turmoil.
The former French president referred to Greece when discussing the debt issue and the need…
What we don’t want to see is the emergence of what we call ‘digital islands,'” said Nick Kerigan, Swift’s chief innovation officer. “We’ve tried to help the industry find a way to ensure that wherever a digital asset or digital currency is created and on whatever technology it’s created, it can successfully interoperate with the existing financial system.
Bank of Cyprus celebrated its return to the Athens Stock Exchange after a seven-year absence, marking a significant milestone for the bank and underscoring the growing strength of the Greek market.
The Greek Finance Ministry has proposed a new legislative measure to parliament, aiming to replace the Stamp Duty on 600 different transactions with a Digital Transaction Fee. This move is part of a larger effort to modernize Greece’s tax system, simplify processes, and bolster the fight against tax evasion.
A 53-year-old Greek national, identified as Thanas B., faces up to 10 years in prison for his alleged role as a key player in a massive underworld banking operation. Prosecutors allege that B. facilitated the movement of hundreds of millions of euros for criminal organizations between June 2020 and March 2021.
In the second quarter of 2024, the number of bankruptcy declarations of EU businesses increased by 3.1% compared with the first quarter of 2024 according to the latest data from Eurostat.
All the tensions in the Middle East led to an increase in energy prices, and…
Greek parliament ratified the merger of Attica Bank and Pancreta Bank on Thursday, with support from New Democracy and PASOK-Movement for Change. The bill, involving the Hellenic Financial Stability Fund and Thrivest Holding Ltd., faced opposition from other parties. Finance Minister Kostis Hatzidakis clarified that JP Morgan’s market research was related only to Attica Bank.