Finance

Republican People's Party (CHP) leader and Nation Alliance's presidential candidate Kemal Kılıçdaroğlu has pledged the citizens to make regulations in order to ease the burden of credit card debts if he is elected as the president in the May 28 polls.

Greece's main power utility Public Power Corporation (PPC) said on Thursday it had swung to profit in the first quarter on the back of lower energy costs. 

The utility reported net profit of 51 million euros for the January-to-March period versus a loss of €186 million last year. 

As widely expected, Türkiye's Central Bank has once again kept its policy rate - one-week repo auction rate- constant at 8.5 percent. 

The Ministry of Finance, banks and funds are discussing changes to the basic terms of the out-of-court settlement, which will lead to the cancellation of debts for more debtors.

Premium production by insurance companies operating in Greece grew 6.8% in the first quarter of 2023, compared with the same period last year, the Association of Insurance Companies of Greece said in a report.

The Greek economy has made significant progress since the previous decade's major debt crisis, which was the result of reckless fiscal policy and loss of competitiveness.

As reported by Sputnik, the reason for the disagreements is OTP Bank and the blocking of aid to Ukraine.
According to the words of four diplomats, during the meeting of foreign ministers in Brussels on Monday, Germany and Hungary quarreled over the role of the Hungarian bank in the Ukrainian conflict, writes "Politico" analyst Jacopo Barigazzi.

Almost eight out of 10 borrowers (78%) who purchased a home with a loan in 2022 chose a fixed interest rate of at least five years.

The percentage among those who chose a long-term interest rate - i.e. more than 10 years - was also high, at 63%, opting for the long-term commitment to the uncertainty created by the persistence of inflation.

The Central Bank's Monetary Policy Committee (MPC) will meet for the fifth time this year on May 25 to decide about the key interest rate.

Analysts expect the monetary authority to keep its policy rate - one-week repo auction rate - unchanged at 8.5 percent as it did last month.

The Central Bank has canceled a previous decision that introduced limits on cash advance withdrawals from credit cards and overdraft accounts.

The bank announced the decision regarding cash advances at the start of the week.