Gold Reaches New Highs, Nearly Touching 2,400 USD per Ounce
In the early hours of Friday trading, the price of gold surged to an unprecedented peak, nearing the 2,400 USD per ounce mark
Banks in Cyprus have reopened after a two-week closure sparked by discussions on an EU-IMF bailout.
Branches were replenished with cash overnight and police were deployed amid fears of large queues.
They began to open at noon local time (10:00 GMT) and will close at 18:00 (16:00 GMT).
Capital controls, imposed to prevent worried savers and businesses rushing to withdraw all their money, include limiting cash withdrawals to EUR 300 euros (USD 383) per day per person and limiting payments abroad to EUR 5,000.
No checks can be cashed, although they can be paid in, and people leaving the country can only take up to EUR 1,000, or the equivalent in foreign currency, with them in cash.
Banks in Cyprus have been shut since March 16 to prevent people draining their accounts as politicians scrambled to come up with a plan to raise enough funds for the country to qualify for EUR 10 B (USD 12.9 B) in bailout loans for its stricken banking sector.
On Thursday, it was made clear that the Cypriot Stock Exchange (CSE) has extended its almost two-week shutdown. The bourse will remain shut during Easter, from March 29 to April 1, because the Target2 system of interbank payments throughout the European Union would not be working.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The European Parliament has approved the EU's inaugural directive aimed at regulating the employment rights of individuals working through online platforms
In recent years, Moldova has been faced with the challenge of reducing its dependency on Russian gas imports.
As the Hungarian forint experiences volatility, German investors are increasingly advocating for Hungary to adopt the euro, reaching the highest level of support in over a decade
In a statement underscoring growing concerns over national security, FBI Director Christopher Wray has declared that the popular social media app TikTok poses a significant risk to the United States
Eurostat data indicates that Greece (161.9%), Italy (137.3%), France (110.6%), Spain (107.7%), and Belgium reported the highest public debt-to-GDP ratios among EU member states by the conclusion of 2023
A damning report from the US State Department has unveiled a troubling reality of systematic racial and ethnic violence and discrimination against Bulgarians in the Republic of North Macedonia
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022