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June 30, 2022, 2:42 PM · 2 min read
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ATHENS, June 30 (Reuters) - Greece is expected to send an official request in the coming days to the United States for the purchase of 20 Lockheed Martin made F-35 fighter jets, defence sources said on Thursday.
NATO member Greece spends more than 2% of its gross domestic product on defence spending. It has beefed up its military purchases in recent years as tensions with its neighbor, historic rival and NATO ally, Turkey have resurfaced.
"The relevant document has been signed," one of the sources said. Deliveries of the jets will begin in 2027-2028.
According to state TV ERT the Letter of Request has been signed and is expected to be submitted to the U.S. Embassy in Athens this week. This is the first step in a multi-stage process.
Greece and Turkey have been at odds for decades over a series of issues ranging from overflights in the Aegean and the extent of their continental shelves and their maritime boundaries to energy resources and ethnically-split Cyprus.
Greek Prime Minister Kyriakos Mitsotakis referred to the purchase of F-35 jets during a visit in May to the United States.
Athens ordered 24 Dassault-made Rafale jets last year for 2.5 billion euros and three navy frigates with an option for a fourth one from France for about 3 billion euros.
According to state ERT TV, the defence ministry also wants to proceed with the upgrade of F-16 fighter jets.
On Wednesday, the United States supported the potential sale of U.S. F-16 fighter jets to Turkey, a day after Ankara lifted a veto of NATO membership for Finland and Sweden, saying that strong Turkish defense capabilities would reinforce NATO's defences. (Reporting by Renee Maltezou and Lefteris Papadimas, Editing by Angus MacSwan)
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Just two days after agreeing to lift deal-breaking objections to Sweden and Finland’s NATO accession, Turkey’s leader has threatened that Ankara could still block the process if the two countries fail to fully meet his expectations
President Joe Biden's point man for global energy problems knows, he says, that transitioning away from the climate-wrecking pollution of fossil fuels is the only way to go.
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(Bloomberg) -- The talks with the Turkish president had been going around in circles for hours on Tuesday afternoon when the delegations decided to take a breather. Most Read from BloombergTrump’s Final Scene Didn’t Go According to ScriptDemocrats Weigh Paring Biden Tax Hike to Win Over ManchinVenice Plans to Start Weeding Out Cheap TouristsFauci Suffers Covid Symptom Rebound After Course of Pfizer’s PaxlovidPokemon Go Creator Niantic Cancels Four Projects, Cuts 8% of StaffAt stake was whether S
UKRAINSKA PRAVDA - THURSDAY, 30 JUNE 2022, 09:32 The number of fatalities from a Russian missile which hit a high-rise building in Mykolaiv has risen from 4 to 6. Source: Vitalii Kim, Head of the Mykolaiv Oblast Military Administration on Telegram; State Emergency Service of Ukraine on Telegram Quote from Kim: "A residential apartment building was hit, and it is currently known that 6 people are dead and 6 injured.
Sanofi SA (NASDAQ: SNY) said that uninsured diabetes patients in the U.S. will pay no more than $35 for a 30-day supply of insulin, down from $99. Sanofi said the new price would be effective from July 1. The announcement from Sanofi follows House passage (232-193) of the monthly cap in March, with just 12 Republicans voting in favor of the measure. Sanofi, meanwhile, says that all commercially insured people are eligible for its co-pay assistance programs, regardless of income or insurance, “wh
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The changed security environment in Europe will yield increased demand from European allies for integrated missile defenses, early warning systems, air-to-air missiles and intelligence, surveillance and reconnaissance platforms, a senior U.S. defense official said Thursday.
Aiden Aslin, 28, and Shaun Pinner, 48, have been held by Russian forces since April.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergDemocrats Weigh Paring Biden Tax Hike to Win Over ManchinTrump’s Final Scene Didn’t Go According to ScriptVenice Plans to Start Weeding Out Cheap TouristsBonds Rally on Recession Fears; Stocks Fluctuate: Markets WrapFauci Suffers Covid Symptom Rebound After Course of Pfizer’s PaxlovidColombia’s central bank is set to speed up its pace of interest rate increases,
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The Dow Jones led the upside, while the Nasdaq and S&P 500 struggled to turn positive. Medical stocks continued to outperform.
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President Vladimir Putin has raised the stakes in an economic war with the West and its allies with a decree that seizes full control of the Sakhalin-2 gas and oil project in Russia's far east, a move that could force out Shell and Japanese investors. The order, signed on Thursday, creates a new firm to take over all rights and obligations of Sakhalin Energy Investment Co, in which Shell and two Japanese trading companies Mitsui and Mitsubishi hold just under 50%. The five-page decree, which follows Western sanctions imposed on Moscow over its invasion of Ukraine, indicates the Kremlin will now decide whether the foreign partners can stay.
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Officials are now considering regulating stablecoins using structures other than traditional banks as crypto regulatory proposals continue to evolve.
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More help is needed for companies struggling with rising costs, the boss of a business lobby group says.
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Euro zone inflation hit yet another record high in June as price pressures broadened, and its peak could still be months away, firming the case for rapid European Central Bank rate hikes starting this month. Consumer price growth in the 19 countries sharing the euro accelerated to 8.6% from 8.1%, Eurostat said on Friday, higher than expectations for 8.4% and driven primarily by energy prices even as food and services also made a marked contribution. At more than four times the ECB's 2% target, inflation is so high it is at risk of getting stuck at uncomfortable levels as businesses and workers adjust their pricing and wage behaviours to the new reality.
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'The thing all these states have in common is they have surpluses and they are using part of the surplus to send checks.'

30 June 2022, 12:53 pm · 2-min read
People gather around the fountain of the newly renovated Omonia square, in Athens
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ATHENS (Reuters) - Greece's central bank on Thursday revised the economy's growth outlook to 3.2% this year from 3.8% previously to reflect increased uncertainty due to the war in Ukraine and inflation.
The Bank of Greece said in a monetary policy report that economic growth could turn out higher than its baseline projection of 3.2% if the strong performance of the first quarter continued in the next quarters.
"However, the risks are tilted to the downside and relate to a further escalation of geopolitical instability, a worsening international economic climate, a disruption in energy supply and a consequent further increase in energy prices," the report said.
The Bank of Greece expects growth to pick up to 4.1% next year and stay high at 3.6% in 2024, provided the geopolitical crisis abates by the end of 2022 and energy prices decline.
Consumption expenditure is projected to keep rising in this year but at a much weaker pace due to lower real disposable income and higher uncertainty, it said.
Exports of goods showed resilience during the pandemic and are projected to grow at a "satisfactory pace" in 2022-2024.
Exports of services are expected to rise, with tourism revenue this year seen rebounding to about 80% of 2019 levels and remain on an upward trend in 2023-2024.
Headline consumer inflation is projected to average 7.6% in 2022, mainly driven by energy and food prices, before weakening next year.
The main challenge facing the economy is to continue its dynamic recovery, which started in 2021 in an unfavourable international environment, the Bank of Greece said.
"The coronavirus pandemic, the energy crisis, the surge in inflation and heightened uncertainty are exacerbating some of the problems already facing the Greek economy as a legacy of the 10-year debt crisis," it said.
"These could have a negative impact on both the short-term and the long-term prospects of the economy."
(Reporting by George Georgiopoulos; Editing by Alison Williams)
EU antitrust enforcers accepted on Thursday an offer from Irish insurers' association Insurance Ireland to open up its data sharing platform to non-members and apply fair criteria to access it aimed at averting a possible hefty fine. Last year, the European Commission charged the industry body, which covers over 90% of the Irish motor vehicle insurance market, with restricting certain insurers and their agents' access to its data system called Insurance Link. Earlier this year, Insurance Ireland submitted its concessions to the EU competition watchdog, which subsequently sought feedback from rivals and users.
Workers are expected to pay a record amount towards their state pension in 2022 before a deadline for changes that could cost them tens of thousands of pounds in retirement.
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As decentralized finance attempts to expand its reach, it appears to be in dire need to find alternative sources of yields. During the last DeFi summer, the yields on USDC across lending protocols ranged from 4%-6%, says Md Halim, founder of DeFi startup ZeFi.
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It comes after central bank governor Andrew Bailey vowed on Wednesday to act "more forcefully" if sky-high inflation persists.
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The US Supreme Court ruled Thursday that the government's key environmental agency cannot issue broad limits on greenhouse gases, sharply curtailing the power of President Joe Biden's administration to battle climate change.
The gruesome killing of a Hindu tailor has inflamed religious tensions in India and sparked a furious response on social media, including calls for reprisal attacks against the country's Muslim minority.
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John Lee, a former beat cop who became Hong Kong's security chief and played a key role in suppressing democracy protests, became the business hub's new leader on Friday in a ceremony overseen by Chinese President Xi Jinping.
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India's Virat Kohli could line up beside Pakistan skipper Babar Azam in the same team next year with the Asian Cricket Council (ACC) planning to revive the Afro-Asia Cup. The 50-overs series was first played in 2005 before being discontinued after its next edition in 2007 as relations between India and Pakistan soured. Former Sri Lanka captain Mahela Jayawardene led an Asia XI that also included players from India, Pakistan and Bangladesh in the last edition, beating an Africa side comprising cricketers from South Africa, Zimbabwe and Kenya 3-0.
Malta's health minister said Thursday he had ordered a review of how the country's abortion ban was applied, after the treatment of a pregnant American tourist sparked headlines worldwide.
Controversial former Wallaby Israel Folau declared Thursday it was "awesome" to be ending a four-year Test rugby exile by making his debut for Tonga against Fiji at Saturday.
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Women are fighting to get at least one seat in Papua New Guinea's male-dominated parliament when voting opens Monday in a mountainous, forest-clad land scarred by gender-based violence.

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ATHENS, Greece (AP) — A Greek helicopter pilot was sentenced to life in prison Monday for killing his British-Greek wife in their home on the outskirts of Athens and trying to mislead police for weeks by claiming she was killed by intruders in a brutal house invasion.
An Athens court found Babis Anagnostopoulos, 34, guilty of the murder of Caroline Crouch, 20, in May 2021 as the couple's 11-month-old daughter slept in the house. He was also convicted of strangling the couple’s dog to lend credence to the narrative that the family fell victim to ruthless burglars demanding to be handed hidden valuables.
The court sentenced Anagnostopoulos to an additional 10 years in prison for killing the dog.
Lawyer Thanassis Harmanis, who represented Crouch's family at the trial, described the verdict as “fair.”
“It was a historic trial, as Caroline has now become a symbol in the struggle against violence targeting women,” Harmanis said. “The defendant was not allowed to continue the deception that he maintained for 37 days (before his arrest) ... and during this trial.”
After abandoning the house invasion scenario, Anagnostopoulos claimed that Crouch died following an altercation between the couple over the infant's care. Prosecutors maintained that he acted in a calm state of mind and intentionally suffocated her while she was asleep.
The civil aviation pilot and flight instructor had initially told police that armed robbers broke into the house at night, binding and gagging him and his wife in
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