for May showed tourism earnings down 10.4 percent year-on-year as visitors reined in spending. That tightening of the purse strings was most pronounced with a 29.2 percent drop in spending by Britons, where a seesawing sterling, weakened by the referendum to leave the European Union, made holidays in Greece more expensive. Association of Hellenic Tourism Enterprises (SETE) President Andreas Andreadis said arrivals may turn out lower than initial estimates, while revenues could grow by 1-2 percent. “This year’s projection is a puzzle for advanced players. It’s like quicksand.” week, the Savings Deposit Insurance Fund and Capital Markets Board halted activities by the bank, which was founded by followers of US-based Islamic cleric Fethullah Gulen. Turkish authorities accuse Gulen of orchestrating the failed military coup, a charge he denies.
Turkey’s state-run Turkish Airlines said yesterday it had fired 211 employees, citing their links to a religious movement President Recep Tayyip Erdogan has blamed for the failed attempt to overthrow the government on July 15. In a statement, the airline said the employees’ contracts were terminated due to operational necessity, inefficiency, poor performance as well as providing support to the movement of Fethullah Gulen.