Economy of the European Union

It’s getting increasingly expensive for Alphabet to operate in Europe after back to back years of 10-figure fines on the continent

The European Bank for Reconstruction and Development (EBRD) is extending up to €50 million in financing to Yapı Kredi Leasing to expand financing opportunities for borrowers committed to green investments and mitigating climate risks.

Yapı Kredi Leasing is the largest leasing company in Türkiye with a strong track record of transformative green energy endeavors.

Morgan Stanley maintains a "constructive" stance on the Greek economy, expecting a further drop in GGBs and an outperformance of Greek shares compared to the rest of Europe. At the same time, Morgan Stanley is proceeding to upgrade the targets for the shares and the profitability of Greek banks.

As of today, all prices in Croatia must be displayed in two currencies - local kunas and euros. This is a preparatory period, from the New Year the national currency will not be used. In the months until the end of the year, Croatians should get used to entering the Eurozone and, as far as possible, fraud and price abuse should be avoided, the government explains.

"The adoption of the euro will not increase inflation further". This was stated by Deputy Prime Minister Atanas Pekanov on the air of BNT.

He noted that the euro is stronger than 10 years ago when we could have seen turmoil. "We don't have that at the moment. We adopted measures to calm the markets. Institutionally, the euro is stronger", Pekanov stressed.

The German government yesterday agreed a 65-billion-euro ($65-billion) plan to ease the pressure on households as Russian gas supplies dwindle and energy bills soar, according to a policy paper seen by AFP.    

Goldman Sachs has revised upwards its growth forecast for the Turkish economy for 2022 after official data showed earlier this week that the economy expanded 7.6 percent in the second quarter.

The investment bank raised its forecast from a previous 3.5 percent to 5.5 percent.

Political uncertainty and growing economic woes, including spiralling inflation and the threat of a recession, are weighing heavily on the British pound, against both the U.S. dollar and the also struggling euro.    

According to the UK’s Office for National Statistics via Eurostat

The European Bank for Reconstruction and Development (EBRD) has said it is providing $127 million in new funding to İş Bankası for on-lending to women-led businesses and to facilitate Türkiye's transition to a green economy.