S&P Lowers Greece's Credit Rating over Worsening Economy
The outlook on Greece's CCC rating, already eight levels below investment grade, was revised to negative from stable, S&P said in a statement.
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Business » Finance
Poland Could Request Ancient Debt from Spain
A leftist Polish MP has tabled a proposal for the Polish state to request a 400-year-old loan rom financially troubled Spain.
Moody's Slashes Slovenia's Bond Rating by 3 Notches
Moody's rating agency has downgraded Slovenia's government bond rating by three notches — to just two above junk — due to concerns about the country's troubled banks and rising borrowing costs.
Algeria Settles Cold War Era Debt with Bulgaria
Bulgaria and Algeria have fully settled their debt issue after the latter has paid a total of USD 14.3 M to the former, the Bulgarian Finance Ministry announced Friday.
Greece's Eurobank, National Bank Join Tussle for Emporiki
Greece's Eurobank has joined the race to buy Emporiki Bank of Greece, the Greek unit of France's Credit Agricole SA.
Troubled Spain, Italy Vow to Work Together to Solve Crisis
Spanish PM Mariano Rajoy and Italian counterpart Mario Monti stated their countries will work together to battle their financial hardships during Monti's Thursday visit to Madrid.
Savings in Bulgaria Banks Hit New Record High
Banks in Bulgaria continue to record steady growth in savings, a trend which has been gaining momentum throughout the past half year, official data shows.
Moving Bulgaria's Customs Agency to Cost EUR 50 M, Expert Estimates
The relocation of the headquarters of Bulgarian state institutions from the capital to the provinces will generate enormous costs, according to Mika Zaykova, a financial expert at the Podkrepa ("Support") Labor Confederation, a Bulgarian syndicate.
Bulgaria Accrues Minor Budget Surplus in H1 2012
Bulgaria's government has ended the first half of 2012 with a minor budget surplus, according to preliminary data of the Finance Ministry released Wednesday.
Bulgaria Govt Denies Plans for VAT Cut by Mid-2013
Bulgaria's government has denied it is willing to lower the 20% value-added-tax by the end of its term, which expires next year.
Bulgarian FinMin Vows to Raise Pensions in Election Year
Retirement pensions in Bulgaria will be raised by 7 to 10% in 2013, Bulgarian Finance Minister Simeon Djankov stated on Tuesday.
Alarm Raised over Bulgaria's Stagnant Economy
Bulgaria's economy is struggling to survive another difficult year, when it will mark an anemic growth at best in the wake of the slump in the euro zone, Sofia-based think-tanks have warned.
Bulgarian Trade Unions Seek Urgent Increase in Minimum Wage, Pensions
According to Bulgaria's Podkrepa Labor Confederation, the minimum wage should increase from BGN 290 to BGN 330 as of October and pensions should grow by 15% and by another 10% from January.
Loan Rates Woes Persist in Bulgaria despite Euro Float
Bulgarians taking out loans to buy property had to dig deeper in their pockets to pay them off last month despite the government's promises and the country's successful comeback on international markets.
Draghi: ECB Will Do Everything to Boost Euro
Financial markets have reacted favorably to a strong commitment on the part of European Central Bank President Mario Draghi to support troubled eurozone countries.
Nearly 27% of Bulgarian Households Live in Poverty
Nearly 27% of households in Bulgaria live below the poverty line, relying on a monthly income of less than BGN 205 per person, according to results of CITUB on prices and monthly allowances in June and in Q2, 2012.
EBRD Slashes Bulgaria Economic Growth Forecast
The European Bank for Reconstruction and Development has revised downwards its forecast for Bulgaria's economic growth to 1.7% in 2013 due to slumping exports.
Bulgaria Bank System Bad Loans Drop Slightly
Bulgarian bad and restructured loans decreased for the first time in seven months to 23.65% of total lending at the end of June, amounting to BGN 9.9 B, shows central bank data.
Bulgaria Prefers to Bide Its Time for Euro Adoption - FinMin
Bulgaria's finance minister, who was initially targeting rapid accession to the euro zone, has confirmed the country is in no hurry to adopt the single currency.
Bulgaria's Tax Agency Collects EUR 0.25 M for Sweden
Bulgaria's National Revenue Agency has collected BGN 515,000 from a Bulgarian citizen who owed them to the government of Sweden, the institution announced.
ECB President Draghi: Euro Is Indestructible
The euro is not in danger in spite of the worst-case scenarios of some analysts, stated European Central Bank President Mario Draghi.
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