Economy

Greenland Opens Doors to Tourists with New International Airports
October 21, 2024
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Greenland Opens Doors to Tourists with New International Airports

Greenland is set to boost tourism with the opening of new international airports, making the Arctic territory more accessible than ever. With the first airport in Nuuk, the capital, scheduled to open in November 2024.

UK's Stansted Airport to Recieve £1.1bn Expansion
October 21, 2024
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UK's Stansted Airport to Recieve £1.1bn Expansion

London Stansted Airport is preparing for a £1.1 billion expansion, which will make it the UK's second-busiest airport by 2028. The plan includes a £600 million terminal extension, improved facilities, and the creation of 5,000 new jobs, with construction set to begin in 2025.

Türkiye Nears $4bn Deal with World Bank for Bosporus Railway Project
October 17, 2024
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Türkiye Nears $4bn Deal with World Bank for Bosporus Railway Project

Türkiye is in the final stages of securing a $4 billion loan from the World Bank to finance a major railway project crossing Istanbul's Bosporus via the Yavuz Sultan Selim Bridge. The deal could be finalized by early 2025, with potential support from other financial institutions.

ECB Cuts Interest Rates to Support Slowing Eurozone Economy
October 17, 2024
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ECB Cuts Interest Rates to Support Slowing Eurozone Economy

The European Central Bank (ECB) has reduced its key interest rate by 0.25% to 3.25%, marking its third cut this year. The move comes in response to falling inflation and a weakening eurozone economy, with Germany on the verge of recession.

Romania to Raise Minimum Wage by 9.5% Starting in January
October 17, 2024
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Romania to Raise Minimum Wage by 9.5% Starting in January

Romania's government will increase the gross monthly minimum wage by 9.5% to 4,050 lei ($884.61) from January 2025. The move comes ahead of national elections and amid concerns over rising inflation and fiscal deficits.

UK to Increase Capital Gains Tax on Share Sales in Upcoming Budget
October 17, 2024
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UK to Increase Capital Gains Tax on Share Sales in Upcoming Budget

The UK government is expected to raise capital gains tax (CGT) on the sale of shares in its upcoming October 30 budget, according to a report by The Times. The hike, reportedly by several percentage points, will apply to share sales, but CGT rates on second homes will remain unchanged.

Albania Opens EU Accession Negotiations, Aims for Membership by 2030
October 15, 2024
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Albania Opens EU Accession Negotiations, Aims for Membership by 2030

Albania officially began its EU accession negotiations, focusing on key areas like judiciary, fundamental rights, security, and financial control. With hopes of joining the European Union by 2030, Albania's leadership is confident about the process despite regional challenges affecting neighboring North Macedonia.

From Housing Boom to Shortage: Spain's Housing Deficit Crisis
October 15, 2024
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From Housing Boom to Shortage: Spain's Housing Deficit Crisis

Spain's housing sector faces a significant shortfall, with construction levels dropping from 600,000 homes annually during the early 2000s to only around 90,000 in recent years. This shortage has created a severe housing deficit, pushing up home prices and rents and widening the gap between supply and demand.

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