RIYADH: Kuwait’s Emir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah arrived in Riyadh on a state visit to the Kingdom on Tuesday. He was received by Saudi Crown Prince Mohammed bin Salman and an official reception ceremony was held at the Saudi Royal Court in the capital. The Saudi Ministry of Foreign Affairs posted a message on social media platform X welcoming the emir to the Kingdom, referring to it as his “second home.” Later, the emir was received by King Salman. SaudiArabia’s King Salman receives Kuwait’s Emir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah on Tuesday. (SPA)Sheikh Meshal became emir in December after the death of his predecessor Sheikh Nawaf Al-Ahmad Al-Sabah. The visit is expected to strengthen bilateral ties and foster cooperation between the two Gulf nations.
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Last week the European Union came to an agreement to limit cash payments to €10,000 in an effort to combat money laundering. The rules still need to get approval from members of the European Council and also be voted on by the European Parliament, which means that they could take years to come into force. Hopes are that the rules will but a squeeze on illegal transactions and money laundering, including through cryptocurrency, and assist financial investigators by enabling them to suspend suspicious transactions. If passed, providers of cryptocurrency and various crypto-assets will be required to conduct better monitoring of transactions that are valued at €1,000 or above. For Greece and for several other European countries, the new rule is not expected to face resistance, as they already have lower limits for cash transactions. For example, France has a €1,000 limit and Greece, where tax evasion is many times higher than Germany and Austria, has a limit of just €500. The new rule however is expected to make waves in Germany, which is known for its limited use of credit cards and preference for cash, even for big purchases like cars. Source: tovima.com North Korea experts - by nature, a cautious group who seek to avoid sowing panic - have been left reeling by two of their own. Last week, the two eminent analysts dropped a bomb - so to speak - in stating their belief that the pariah state's leader is preparing for war. Kim Jong Un has scrapped the bedrock goal of reconciling and re-uniting with South Korea, they said. Instead, he's presenting the North and South as two independent states at war with each other. "We believe, that like his grandfather in 1950, Kim Jong Un has made a strategic decision to go to war," wrote Robert L Carlin, a former CIA analyst and Siegfried S Hecker, a nuclear scientist who's visited the North several times, in an article on specialist site 38 North. Such a pronouncement set off alarm bells in Washington and Seoul, and a massive debate in North Korea watching circles. Most analysts, however, disagree with the war theory; the BBC spoke to seven experts across Asia, Europe and North America - none of whom supported the idea. "Risking his entire regime on a potentially cataclysmic conflict is not on-brand for the North Koreans. They have proven to be ruthlessly Machiavellian," says Christopher Green, a Korea watcher from Crisis Group based in the Netherlands. He and others note the North often acts out to bring Western powers to the table for dialogue; and there are political pressures at home too. But they do agree that Mr Kim's increased bluster can't be ignored and his regime has grown more dangerous. While most argue war may still be unlikely, some fear a more limited attack could yet be on the cards. What has led to this? Close watchers of North Korea's Kim Jong Un are used to his nuclear threats, but some say the latest messages from Pyongyang are of a different nature. Kim set a new path at the Supreme People's Assembly session on 15 JanuarySix days on from his New Year's Eve declaration that "it is fait accompli that a war can break out anytime on the Korean peninsula", his military blasted artillery across the border. North Korea has also claimed a test of a new solid-fuelled missile, and its underwater attack drones, which can supposedly carry a nuclear weapon, since the start of January. They follow on from two years of near-monthly missile launches and weapons development in blatant contravention of UN sanctions. However, it was his announcement of formally abandoning the goal of unification that last week furrowed brows. Reuniting with the South had always been a key - if increasingly unrealistic - part of the North's ideology since the inception of the state. "This is a big deal. It fundamentally alters one of the regime's core ideological precepts," says Peter Ward, a senior researcher at Kookmin University in Seoul. Kim Jong Un would now be tearing down that legacy - literally. Along with shutting diplomacy channels and cross-border radio broadcasts, he has announced he will demolish the Reunification Arch, a nine-storey monument on the outskirts of Pyongyang. The arch, showing two women in traditional Korean dress reaching towards each other, had been built in 2001 to mark his father's and grandfather's efforts towards the goal of reunification. Kim Jong Un plans to destroy this unification symbol to show his disgust with the SouthKim Il Sung had been the one who went to war in 1950, but he was also the one who set the idea that at some point North Koreans would be united with their southern kin again. But his grandson has now chosen to define South Koreans as different people altogether - perhaps to justify them as a military target. A limited strike on the cards? Mr Carlin and Dr Hecker, the analysts who predicted war, have interpreted all of this as signs that Kim Jong Un has settled on actually pursuing a fight. But most analysts disagree. Seong-Hyon Lee, from the George HW Bush Foundation for US-China relations, points out the country is due to reopen to foreign tourists next month, and it has also sold its own shells to Russia for war - something it could ill afford if it were preparing for the battlefields. The ultimate deterrent, however, is that were the North to launch an attack, the US and South Korea armies are just so much more advanced. "A general war could kill a lot of people in the South, but it would be the end of Kim Jong Un and his regime,"says Kookmim University's Mr Ward. Instead, he and others warn the conditions are building for a smaller action. "I'm much more concerned, in general, about a limited attack on South Korea… an attack of that sort would take aim at South Korean territory or military forces but be limited in scope," says analyst Ankit Panda, from the Carnegie Endowment for International Peace. This could even be in the form of shelling or attempted occupation of contested islands west of the Korean peninsula. In 2010, the North struck the island of Yeonpyeong killing four South Korean soldiers, infuriating the South. A similar provocation again could be done to test the South Korean's limits, analysts suggest, and to push the buttons of President Yoon Suk Yeol, a defiantly hawkish leader who has vowed to respond to a North Korean attack with punishment "multiple times more severe". "North Korea may expect to draw out a disproportionate retaliatory attack from Seoul," says Mr Panda, something that might spark a broader escalation in fighting. Playbook move for leverage Others say war fears should also be put in the context of Kim's operating patterns. "Looking at the history of North Korea, it has often used provocation to attract the attention of other countries when it wants to negotiate," says Seong-Hyon Lee. The regime continues to suffer from economic sanctions and 2024 is an election year for its enemies - with the US presidential vote and South Korean legislature poll. "This presents a good opportunity for Kim Jong Un to provoke," explains Dr Lee. The current US administration under President Joe Biden - tied up with Ukraine and Gaza - hasn't paid North Korea much heed and Pyongyang has also typically had most engagement with Republican administrations. Kim Jong Un and Donald Trump famously had a bromance in 2019 before the denuclearisation talks soured - and the North Korean leader may be waiting for the former US president to return to the White House, where he might weaken the alliance with South Korea and be open to dialogue again. North Korea's closer friendship with Russia and continued economic support from China in the past year may have also boosted its audacity, analysts suggest. It's received technical help from Russia to achieve a long-term goal of launching its spy satellites and the two states had several high-profile meetings including a leaders summit last year. Kim travelled to Russia's leading space facility last November after which his regime was able to launch their satellite"Much of what we're seeing is a result of broader North Korean confidence in its own capabilities and its geopolitical position given Russian, and to a lesser degree, Chinese support," says Mr Panda. Domestic goals And others say Kim Jong Un's behaviour is all aimed at stabilising his own regime. "This appears to be an ideological adjustment for regime survival," argues Leif-Eric Easley, an associate professor of international studies at Ewha University in Seoul. "North Koreans are increasingly aware of their Communist country's failings compared to the South." He suggests a policy focused on defining the enemy justifies Mr Kim's missile spending at a time where there are reports of starvation across the country. Presenting the South as the enemy also makes it easier to resolve "cognitive dissonance at the heart" of the North's view on South Korea, points out Mr Ward. "Previously it was an indelibly evil state that was supposed to be the object of unification with a hopelessly corrupting culture that should not be consumed under any circumstances but with people who need to be liberated from their evil government," says Mr Ward. "Now the country and its culture can just be branded evil and that justifies the continued crackdown on South Korean culture." The BBC last week published rare footage showing two North Korean teenagers sentenced to 12 years hard labour for watching K-dramas. "He doesn't actually want a war - a huge gamble where he would have "nothing to gain and everything to lose", says Sokeel Park, from Liberty in North Korea, an NGO helping North Korean refugees. His threats are instead aimed at cementing his new North and South policy, designed ultimately to shore up his power at home, he says. While it's important for South Korea, the US and allies to prepare for the worst-case scenario, it is also worth a thorough examination of the internal situation in North Korea and the wider geopolitics, analysts say. At the end of the day, the best way to find out what the North's leader is thinking is to engage with him, argues Dr Lee. "The international community does not see the US talking to Kim Jong Un as surrendering to Kim Jong Un's threats. It is seen as a necessary means to achieve a goal," he says. "If necessary, one should consider meeting with the leader of an enemy nation to reduce misjudgements and prevent war." With reporting by Kelly Ng/ Source: BBC.com/ Frances Mao A southwest Calgary school and preschool were temporarily locked down after a woman was stabbed to death outside the premises by a man who was previously charged with domestic violence offences, released under a no-contact order and had active warrants against him, and who was also later found dead nearby. Officers were called to John Costello Catholic School around 7:30 a.m. to respond to what they had deemed earlier as a targeted incident. It wasn’t believed students or staff at the school were ever in danger, police said. However, they later confirmed the woman was stabbed in front of the school. As officers continued to speak with witnesses, police said the incident was domestic in nature and there was no threat to the public. Police later revealed in a news conference that the offender had been previously charged, released under a no-contact order and had active warrants against him. A vehicle is removed by a tow truck at John Costello Catholic School, which was cordoned off by Calgary police as officers investigated a domestic homicide outside the school on Tuesday, January 16, 2024. Brent Calver/Postmedia Susan Sidorak, a resident living across from the school, said she was home when she heard police sirens blaring outside. Her neighbours on a Facebook group began speculating about the incident, but when she learned the details, she was horrified. “I don’t know why they would choose a school as a site to carry out whatever they’re doing,” said Sidorak, whose children attend Olympic Heights, nearly 300 metres from John Costello. “That’s just so wrong.” She added that based on her conversations with others, the neighbourhood is in shock. Police said the identity of the victim won’t be released even after an autopsy is completed, to protect the identity of her family. “This was a very traumatic event that occurred in a public place,” the Calgary Police Service said in its statement. “Our Victim Assistance Support Team is engaged and is heading to the scene to speak with anyone who may be impacted by this incident.” Greek regional airports under Fraport Greece, a German-based operator, managing 14 Greek airports, posted record international arrivals and departures in 2023, according to the company’s report. The data revealed international passenger traffic witnessed a 6.5% increase compared to 2022 and a substantial 14.14% rise compared to 2019. In 2023, the 14 airports managed by Fraport Greece recorded 26,535,378 international arrivals compared to 24,920,400 in 2022 and 23,247,951 in 2019. The data confirms the surge in growth of the Greek tourism sector for 2023, which is expected to close with record arrivals and revenues. Despite tough competition as stakeholders say, the outlook is positive for 2024. Turkey anticipates a growth of +11% for 2024, while Spain projects an increase of +15-18%. The airports of Santorini and Mykonos were the only ones to experience a decrease (-9.9% and -5.9%, respectively) in passengers to and from international destinations, while all other airports reported a boost, with Kavala Airport leading in percentage terms (19.2%). Rhodes Airport served the most passengers to and from international destinations, with international arrivals and departures reaching 5,291,888, marking a 2.8% increase despite the island being affected by significant wildfires in the heart of the summer. Thessaloniki Airport followed with 4,750,634 passengers (an increase of 18.8%), and Corfu Airport with 3,695,641 passengers (an increase of 8.6%). In terms of overall passenger traffic (domestic and international), Thessaloniki led with 7,029,957 passengers (an 18.7% increase), followed by Rhodes with 6,142,813 passengers (a 4.9% increase). Source: tovima.gr DUBAI: A Marshall Islands-flagged, US-owned bulk carrier was reportedly struck by a missile while transiting near Yemen’s Aden, British Maritime Security firm Ambrey said on Monday. The United Kingdom Maritime Trade Operations (UKMTO) agency said that a vessel was hit from above by a missile 95 nautical miles southeast of Aden, without identifying the vessel. Yemen’s Iran-backed Houthis have been attacking commercial ships in the Red Sea it says are linked to Israel or bound for Israeli ports, aiming to support Palestinians in the war and Hamas in Gaza. US and British forces responded last week by carrying out dozens of air and sea strikes on Houthi targets in Yemen. Ambrey said three missiles were reportedly launched by the Houthis, with two not reaching the sea and the third striking the bulk carrier. The 130,000-car threshold had not been reached since 2010, the year that saw Greece propelled into a punishing economic crisis and financial downturn. Petrol and hybrid vehicles led car sales in Greece in 2023, with last year’s months-long delivery delays now mostly a thing of the past. Specifically, 134,514 new vehicles hit Greek roads over the year, a 27.8% increase compared to 2022, when 105,283 new sales were recorded. The last month of the old year witnessed 8,287 new car sales, up 26.3% compared to the same month in 2022. December 2023 actually marked the 12th consecutive month of sales that were higher than the corresponding months in 2022. The 130,000-car threshold had not been reached since 2010, the year that saw Greece propelled into a punishing economic crisis and financial downturn. The most popular models were petrol-driven (gasoline) vehicles in the 1.0 to 1.2-liter range, while there was also a significant surge in sales of hybrid vehicles. The latter now account for 32-percent of new car purchases, as per 2023 figures. Source: tovima.com One hundred days ago, the previously unthinkable happened in Israel. A state, born out of adversity and war only 75 years ago, woke up to what some have since described as a threat to its very existence. On Saturday night, in Tel Aviv, the events of 7 October were commemorated by thousands of people. Uppermost on the minds of everyone were the around 130 hostages abducted by Hamas and still being held in Gaza, although some of them may not still be alive. Just after dawn 100 days ago, thousands of heavily armed Hamas fighters stormed through and over the Gaza border fence in several different places. They attacked kibbutzim, military bases and border towns, accustomed to rocket attacks from Gaza but overwhelmed by the scale of the Hamas incursion. At least 1,200 people were killed along the length of the border as Israeli defences were caught completely by surprise. Images of hundreds of young music lovers fleeing for their lives at the Nova festival shook Israel to its core. More than 360 people were killed at the festival site and dozens more abducted to Gaza. Among those at the huge commemorative event in Tel Aviv were families of the disappeared, carrying posters and wearing T-shirts featuring the faces of their loved ones. I spoke to Yossi Schneider - a cousin of Shiri Bibas, who was kidnapped along with her two young children and husband. "There are 130 people, mainly civilians being held without medicines and the Red Cross is not even being allowed to visit them," says Yossi, angered that the wider family has received little information on their physical or mental welfare. "There are three generations of my family that are disappeared. Three generations of my family! And the world is keeping silent and asking us to stay calm. I cannot take it anymore," he adds, tired but clearly frustrated. Most people here would say that 7 October was the biggest threat ever faced by Israel and that Israelis have never felt so vulnerable. While the safe return of the hostages is their absolute priority, many also agree with their government's war aims in Gaza and few voices are calling for tolerance and coexistence. As Israel's shaken defence establishment eventually responded to what was happening in the south as Saturday 7 October drew to a close, the Israeli military embarked on an unprecedented bombing campaign in Gaza - its stated goal: the complete destruction of Hamas and its support structure. Much of the territory, from Gaza city in the north to Khan Younis in the south, has since been destroyed. Israel says Hamas has been severely weakened and, according to the Israeli military, rendered almost inoperable as an organised force in northern Gaza. But the number of civilians killed in the Israeli bombardment has been huge. More than 23,000 have been killed, according to the Hamas-run Health Ministry, many of them women and children. Thousands more are believed to be dead under rubble. Palestinian officials say that 85% of Gaza's population has been displaced. While more aid is now getting into Gaza the UN's humanitarian chief has described the situation as "intolerable". Faten Abu Shahada needs regular kidney dialysis which is one reason why she and her family have been forced to move south. Home for Faten and the kids is now a plastic tent in Khan Younis - the sound of an Israeli drone overhead their constant companion. "Gaza has been destroyed. There's no Gaza left - no hospitals, no education," says Faten. "Our children have lost their school year, Gaza is no longer alive." Israel is coming under increasing international pressure to consider a ceasefire or pause in Gaza, such is the scale of the civilian suffering. Even its closest ally the US, which consistently defends Israel's right to self defence and to prevent a repetition of 7 October, has repeatedly told Prime Minister Benjamin Netanyahu that the civilian death toll is "far too high". President Biden has spoken of Israel's "indiscriminate bombing", which he said meant the country was losing support around the world. Gideon Levy is a columnist for the Israeli newspaper Haaretz and a frequent critic of Mr Netanyahu. I asked him if this war - already Israel's longest since 1948 - would soon come to a conclusion. "The war in its current shape will last as long as Americans will allow Israel (to do it)," says Levy. He adds: "I don't think it will be many weeks more. But that doesn't mean that the war is over because nobody has thought about the day after. "If Israel doesn't pull out of Gaza, there will be resistance. And if there is resistance there will be retaliation." As Israeli troops continue to attack Hamas positions in central and southern Gaza, ending the war seems to be far from Mr Netanyahu's intentions. Israel says the fighting will not end until Hamas is completely defeated. The immediate future across the region, and especially for thousands of civilians living in appalling conditions in Gaza, looks particularly bleak. Source:BBC.com Yemen has suffered years of civil war - with the Houthis in control of much of western Yemen, including the capital Sanaa. Now, Yemen's internationally-recognised government has condemned the Houthis for "dragging the country into conflict" after the US and UK-led attacks on Houthi targets this week. In a statement, shared by the official Saba news agency on Friday, the Aden-based authority accused the rebels of "creating a conflict for propaganda", following their attacks on merchant shipping in the Red Sea, and "false claims" of support for Gaza. It stressed the need to restore legitimate state institutions in Yemen to ensure security in the Red Sea. The government also condemned Israel's bombardment of Gaza and called for prompt access to humanitarian aid for Palestinians. Amongst the works of art were ‘Salvator Mundi’ a depiction of Christ by Leonardo da Vinci, as well as pieces by Klimt, Modigliani, Magritte, Toulouse-Lautrec, and Matisse. The Russian oligarch Dmitry Rybolovlev is suing Sotheby’s accusing the auction house of collaborating with an art adviser in order to create inflated valuations for works of art resulting in Rybolovlev paying more money to purchase them than their actual worth. The trial of the case is expected to begin at the federal court of Manhattan today, Jan. 8, 2024. Amongst the works of art were ‘Salvator Mundi’ a depiction of Christ by Leonardo da Vinci, as well as pieces by Klimt, Modigliani, Magritte, Toulouse-Lautrec, and Matisse. The 57-year old businessman and owner of the island of Scorpios, previously owned by Aristotle Onassis, paid a whopping 2 billion dollars for a vast collection of world-class art. Rybolovlev filed a lawsuit against Yves Bouvier, a man posing as an art adviser working on behalf of the oligarch when in fact he was overpricing the works of art with many of the sales taking place at Sotheby’s. According to the Businessman’s lawyer the auction house aided Bouvier in his actions and is an accomplice to the fraud. According to The Guardian, a spokesperson for Sotheby’s stated, “Sotheby’s strictly adheres to all legal requirements, financial obligations, and industry best practices during the transactions of these art pieces. Any suggestion that Sotheby’s was aware of alleged wrongdoings or the buyer’s intent to deceive Mr. Rybolovlev is false.” This is one of the world’s longest art disputes with its outcome awaited with great interest. The tanker, St. Nikolas, is a Marshall Islands-flagged oil tanker associated with the Greek shipping company Empire Navigation and was headed for a Turkish refineryA Greek-owned oil tanker, identified as the St. Nikolas, has reportedly been boarded by six “unauthorized” men in military uniforms in the Gulf of Oman. According to reports, the seizure began in the early morning of Thursday in the waters between Oman and Iran in the narrow mouth of the Gulf, in the Strait of Hormuz. St. Nikolas is a Marshall Islands-flagged tanker associated with the Greek shipping company Empire Navigation. The company reported to the Associated Press that it had lost contact with the vessel and its crew of 18 Filipinos and one Greek national. The tanker was reportedly loading crude oil off Basra, Iraq and was heading for Aliaga, Turkey to a refinery. The six men who boarded the ship were wearing black military-style uniforms and black masks, and covered the surveillance cameras of the ship, according to statements made by private security firm Ambrey. Source:tovima.com Employers in Greece are increasingly finding it difficult to hire skilled employees, with the country experiencing a human resource crisis, similar to Japan, Germany and Israel. According to a ManpowerGroup survey, whose results were released on Wednesday, 82% of employers in the country said it was very difficult to find skilled labor, a figure that marks an 11-year high and one that surpasses the global average of 75%. Recruiting skilled labor has progressively become more difficult in the east Mediterranean country, with the percentage rising from 42% in 2014, to 61% in 2018 and 77% in 2023. The sectors reporting the biggest shortages are communication services and industry/construction, where 89% of employers reported difficulty in finding qualified employees. The energy and utilities sector is second with 88%. Source: tovima.com RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman met with US Secretary of State Antony Blinken at the Winter Tent in AlUla on Monday. During the meeting, the crown prince and Blinken reviewed aspects of bilateral relations, areas of joint cooperation, and ways of developing it to achieve the common interests of Saudi Arabia and the US. They also exchanged views on regional and international developments and efforts being made toward them in order to achieve security and stability, especially the latest developments in the situation in Gaza. The crown prince stressed the importance of stopping military operations in Gaza, intensifying humanitarian aid efforts, and working to create conditions for the return of stability. He also urged a return to the peace track that would ensure the Palestinian people obtain their legitimate rights and achieve lasting peace. Blinken is on a regional tour as part of a diplomatic push to stop the war in Gaza spreading further. Earlier on Monday, Blinken visited Abu Dhabi where he met with UAE President Sheikh Mohamed bin Zayed and underscored the importance of urgently addressing humanitarian needs in Gaza He also visited Jordan and Qatar on Sunday. A group of armed men have broken into a live television studio in Ecuador and threatened staff, footage shows. A live broadcast by station TC in the city of Guayaquil was interrupted on Tuesday by the group, who were wearing hoods and carrying guns. Staff were forced to on to the floor, before the live feed cut out. A 60-day state of emergency began in Ecuador on Monday after a convicted gang leader vanished from his prison cell. The hooded men were seen leaving the TC studios, with police seen entering the set about 30 minutes after the gunmen first appeared. National police units in Quito and Guayaquil have been deployed to the scene. The country's national police force said in an update on X, formerly Twitter, that staff had been evacuated from the studio. Following the incident, President Daniel Noboa signed an executive order declaring an internal armed conflict and listed several organised crime groups as "terrorist organisations" and "non-state actors". At least seven police officers have been kidnapped by gang members since the state of emergency was declared. The measures were introduced by President Noboa after the boss of the Los Choneros gang disappeared from a maximum security jail on Sunday. Nearly 40 other inmates, including another convicted drug lord, broke out from another prison in the city of Riobamba in the early hours of Tuesday. It is not clear at this stage whether the storming of the television station is linked to the prison escape, but it is an example of the deteriorating security situation in the country. source: BBC NEWS Ruling conservative New Democracy (ND) holds a commanding lead against its main opposition rivals, according to a survey conducted by Alco pollsters on behalf of Greek TV station “Alpha”. The findings in the survey, the first pre-election poll for the 2024 European Parliament elections, reaffirmed New Democracy’s dominance in Greek domestic politics. ND commands a 30.3% share in voter intention among valid responses, followed by the center party PASOK which secured the second position with 12.2%, while leftist SYRIZA holds the third spot with 11.8%. A noteworthy surge is observed in the Communist Party of Greece (KKE), reaching just below a double-digit percentage at 9.7% in voter intention among valid responses. Other parties trailing behind include Greek Solution with 5.9%, Victory and Freedom’s Course with 2.8%, New Left with 2.3%, and MeRA25 with 2.1%. The majority of participants in the survey expressed pessimism about the outlook for Greece in 2024, unsurprisingly, as is affirmed by a recent poll with similar results. Specifically, 56% of respondents believe that 2024 will be either “worse” than, or “equally bad” with 2023, while 37% hold optimistic views, foreseeing a better or equally good year compared to 2023. In response to questions about expectations for family finances, 60% anticipate that 2024 will be either worse or equally challenging as 2023. A notable aspect of citizens’ sentiments is that 42% cite financial struggles as their primary concern, followed by 24% expressing worries about health issues. Additionally, 16% fear becoming victims of criminal activities, and 13% express concerns about the escalation of military conflicts Source: tovima.com The number of new registered businesses in Greece was the highest ever since relevant data started being compiled, according to the General Commercial Register (G.E.MI.). An additional encouraging sign of the positive sentiment in the market is that the rate of new business startups outpaced closures for 2023, as per the weekly bulletin released by the Piraeus Chamber of Commerce & Industry. The numbers revealed that the Maritime and shipbuilding sectors stood out prominently, as 38 new businesses were established at the Hellenic Marine Environment Protection Association (Helmepa). According to the data from the General Commercial Registry (GEMI), in 2023, 57,272 new businesses were established, while 20,268 closed, indicating that last year’s startups were 14.7% more than the corresponding figure in 2022, and closures were 6.3% fewer. Thus, the balance of business startups and closures improved by 30.9% in 2023. Overall, an additional 37,004 new business entities were added last year. Private companies and one-person ventures were the most popular startups, while limited companies (Ltd) garnered the least interest. The best performance in terms of geographical regions, about startup-closure ratio, was achieved by the Southern Aegean with +235%, followed by Western Greece (+107.3%), the Ionian Islands (+75.4%), Epirus (+37.3%), and the Southern Aegean region (+34.4%). On the other hand, Western Macedonia had the worst performance. Source: tovima.com |