Economy

Russian Central Bank Raises Interest Rate to Record 21%
October 28, 2024
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Russian Central Bank Raises Interest Rate to Record 21%

Russia's central bank has increased its key interest rate to a historic 21% to curb rising inflation, largely driven by escalating government military expenditure. This marks the highest rate since the key rate's establishment in 2013, with potential for further increases in December.

Malaga to Restrict New Holiday Rental Permits in 43 Neighborhoods
October 27, 2024
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Malaga to Restrict New Holiday Rental Permits in 43 Neighborhoods

pain's popular tourist destination, Malaga, will halt new permits for short-term rentals in 43 neighborhoods, responding to residents' concerns over rising rents and limited long-term housing. The city’s ban follows similar measures in other Spanish cities like Barcelona.

Albanian Government Struggles to Attract Bidders for New Durres Port Project
October 27, 2024
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Albanian Government Struggles to Attract Bidders for New Durres Port Project

The Albanian government’s ambitious plans to redevelop Durres Port into a marina and build a new commercial port nearby have stalled after failing to attract any bidders. The project, which was initially intended to be privately funded, will now rely on state financing for its initial phases.

German Government Pushes for EU Free Trade Agreement with India
October 27, 2024
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German Government Pushes for EU Free Trade Agreement with India

German officials, including Chancellor Scholz and Economics Minister Habeck, are promoting a free trade agreement between the EU and India, advocating for quicker negotiations that could strengthen both regions' economies. However, significant issues, including tariffs on automobiles and agricultural market concerns, remain points of contention.

Venice Expands Tourist Entry Fee Program
October 27, 2024
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Venice Expands Tourist Entry Fee Program

Venice is set to expand its tourist entry fee system in 2025, increasing the number of days requiring a visitor fee from 29 to 54 within the April-July period. The program will maintain a €5 fee for early bookings but raise the cost to €10 for reservations made within four days of arrival.

€650mn Expansion Project for Athens International Airport to Begin in 2025
October 24, 2024
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€650mn Expansion Project for Athens International Airport to Begin in 2025

A €650 million investment is set to enhance the capacity of Athens' Eleftherios Venizelos Airport, with construction starting in early 2025. The project aims to increase the airport's capacity to accommodate 33 million passengers annually by 2028.

Norwegian Sovereign Fund Reaps €71bn in Profits Amid Stock Market Surge
October 22, 2024
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Norwegian Sovereign Fund Reaps €71bn in Profits Amid Stock Market Surge

Norway's sovereign wealth fund, the largest in the world, gained nearly €71 billion in the third quarter of 2024, benefiting from a global stock market boom driven by falling interest rates. The fund's total value now stands at an impressive €1.597 trillion.

Major Infrastructure Works Begin to Integrate Slovenia into the European Railway Network
October 22, 2024
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Major Infrastructure Works Begin to Integrate Slovenia into the European Railway Network

The long-awaited upgrade of Ljubljana’s railway station has officially begun, with Prime Minister Robert Golob highlighting its significance beyond Slovenia's borders.

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