Economy

The US Congress has approved financing through borrowing for ONEX Shipyards to carry out the consolidation plan for Elefsis Shipyards.

The US International Development Finance Corporation (DFC), America's development bank, will provide the amount of $125 million.

This financing will be the first so far from DFC for Greece.

The Public Debt Management Agency announced on Friday that on Wednesday it will auction 26-week treasury bills in book entry form with maturity on December 29.

The settlement date is Friday, June 30.

Fears that the British economy is heading for recession mounted sharply after the Bank of England raised borrowing costs by more than anticipated.

The Bank of England on June 22 decided to lift its main interest rate by half a percentage point to a fresh 15-year high of 5 percent.

Türkiye's exports rose 14.4 percent from a year ago to $21.7 billion in May, after plunging 17 percent annually in the previous month, data from the Turkish Statistical Institute (TÜİK) have shown.

Imports, which declined nearly 5 percent in April, increased by 15.5 percent last month to stand at $34.2 billion.

Hellenic Bank, Cyprus' second-largest lender, has reported a profit of 69.7 million euros for the first quarter of 2023, signaling a strong start to the year.

The Greek stock market ended the pre-election period with moderate gains as traders chose to position themselves carefully in certain blue chips at the conclusion of a week of small losses for the benchmark at Athinon Avenue.

Greece is heading into an election weekend with its public debt trading near the levels enjoyed by first-class peripheral countries, a decade after a debt crisis forced a dramatic reshaping of its borrowing.

Japan's consumer prices rose 3.2 percent year-on-year in May, slowing from 3.4 percent in April, government data showed on June 23.

The figure, which excludes volatile fresh food prices, beat market expectations and was higher than the 3.1 percent recorded in March.

Leaders of business associations have welcomed the Central Bank's move to hike its policy rate sharply by 650 basis points, calling it a step taken toward ensuring price and financial stability.

The Central Bank on June 22 increased its one-week repo auction rate from 8.5 percent to 15 percent. This has been the first rake hike since March 2021.

The lowest salary of Türkiye's civil servants will be increased to 22,000 Turkish Liras, Labor and Social Security Minister Vedat Işıkhan has said.

The government is currently working on civil servants' pay and improvements in pensions, Işıkhan told reporters.