Greek Daily News 31/10/2023

ECONOMY

-Lianhe Credit and China Chengxin Credit Rating Group, two of China’s largest credit rating agencies upgraded Greece’s credit rating to the investment grade. Lianhe Credit raised Greece’s long-term credit rating to BBB from BBB- with stable outlook, while China Chengxin Credit Rating Group raised the country’s credit rating to B- from BB+ with stable outlook.

-The volume of private building activity increased by 18.5% in July 2023 y-o-y, as 2,402 building permits were issued, Hellenic Statistical Authority data showed.

-The General Director of the Greek Association of Organized Catering Businesses (EPOES), Yannis Liaros told Oikonomikos Taxydromos that the entire Greek food services business is going to be affected by the increase in the price of olive oil, specifically restaurants and taverns.

-In 2022, the e-commerce turnover stood at 20.5 billion euros in Greece. The e-shops from which Greeks prefer to buy are Greek ones (91%) in their majority. Moreover, Greeks spend, on average, 644 euros in physical stores and 510 euros on online shopping, according to the conclusions of the Panhellenic Research on e-commerce & logistics orchestration conducted by the company O.MIND CREATIVES with the scientific supervision of OPTILOG ADVISORY SERVICES.

TRAVEL

Tram workers in Athens will hold a 3 hour work stoppage on Tuesday (Oct 31) from 10:00 a.m. until 1:00 p.m. due to a meeting of Tram employees.