Greece lowers GDP Growth Estimates in Latest Update
Greece has lowered GDP forecast in the latest budget estimates to 1.8 percent growth compared to 2.7 percent growth estimate earlier. The state news agency ANA informed that Greek government will improve tax net and there will be additional austerity measures. Greece recently reached a deal with its creditors and the country is now looking at stable economic environment. The government is also on a strong footing and there is a strong chance of lawmakers passing austerity measures. Greek government is planning to widen its tax net in year 2019 and 2020.
The European Commission has estimated growth at 2.1 percent, as per February report. Majority of countries in European Union are expecting strong growth due to increased local demand and gradual improvement in consumer sentiment.
The Right-Wing opposition has already condemned the austerity measures and pledged to vote against the resolutions. Prime Minister Alexis Tsipras has 153 votes in favor out of total 300 votes.
If the conditions remain stable and Greece secures debt reduction, the country could also hit bond markets in 2018. Tsipras informed that his government will ask for debt reduction in exchange for austerity measures. The pension cuts planned by the Greek government could save Euro 4.5 billion annually. Majority of Workers Unions in Greece have called for a nationwide strike on Wednesday.
A Translational Pharmaceutics stage, Quotient Clinical connoting its new personality to Quotient Sciences resulting acquirements of SeaView Research, QS Pharma, and Co-Formulate.
Intelligent and connected vehicles are turning into the Chinese business' specialty in the new automotive era. TuSimple Inc. reveals demonstrates minds-off automated driving using two modified trucks in Shanghai.
Well-known for its technology innovation, China region unveiled the first picture of the hypersonic strike airplane that is being created to convey atomic warheads through U.S. rocket protections. The pictures of four distinct rockets that U.S.
New York-based broad communications partnership, Time Inc. uncovered another advanced stage called Time Inc. Latino. Through its new computerized stage Time conveys exceptional access to the U.S. Hispanic group of viewers.
Chinese Multinational Telecommunication Equipment company, ZTE corporation officially released TECS 6.0. The company released the new generation cloud platform at the OpenStack Summit Sydney.
German-based, multinational open-source software company SUSE combines Cloud Foundry and Kubernetes to accelerate application delivery, which also helps to increase business agility.