Greek daily news

Greek Daily News 03/07/2024

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ECONOMY

-Greece’s economic climate index fell to 110.6 points in June from 111.0 points in the previous month, according to a survey by the Economic and Industrial Research Foundation (IOBE).

-Summer sales in Greece will kick off on Monday, July 8 and go on until August 31. On July 14, as on the first Sunday of every sales window, shops will be able to stay open, with the hours recommended by the Athens Traders Association being 11 a.m. to 8 p.m.

-Goldman Sachs has revised its 3-year estimates for the adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for the Greek oil refineries, Motor Oil and Helleniq Energy. The U.S.-based investment banking company expects an average increase of +8%/+2%/+1% in adjusted EBITDA for 2024/25/26, ahead of second-quarter results.

-Inflation in Greece stood at 2.4% last month, according to a flash estimate from Eurostat, the statistical office of the European Union. Euro area annual inflation is expected to be 2.5% in June 2024, down from 2.6% in May.

(Source: Eurostat)

BUSINESS

-An agreement for the creation of waterdromes in Alexandroupolis and the island of Samothrace was signed on Tuesday, Ellinika Ydatodromia (Greek Water Airports) announced.

REAL ESTATE

Piraeus, Greece’s largest port, has recorded the highest increases in average property sale prices nationwide for the period of April to June 2024, according to data from Spitogatos, the leading real estate website in the country.

CULTURE

Greece’s Culture Ministry said in a statement Tuesday that two plundered marble vases that marked ancient Athenian graves more than 2,000 years ago, were brought back from Switzerland following a long legal battle.

TOURISM

-Greece stays among the top five destinations of choice for intra-European travel from June to November 2024, according to the “Monitoring Sentiment for Intra-European Travel – Wave 19” report released by the European Travel Commission (ETC).

-Germany was the leading contributor to Greece’s tourism income in 2023, according to an annual report by Greece’s Foundation for Economic and Industrial Research (IOBE).