Economy of Iran

Over 52 bln liras in loan, credit card debt restructured in Turkey: Association

Some 52 billion Turkish Liras ($14.3 billion) in loans and credit card debts were restructured in Turkey in September 2016, said the head of a top sector association, adding that this was a huge figure and that the sector achieved a great success by implementing the restructuring.

Bank deposits at a record low since 2001, shows Bank of Greece data

Bank deposits are at their lowest levels since 2001, according to the Bank of Greece (BoG). The figures released by the BoG revealed that deposit outflows of Greek depositors amounted to 1.567 billion euros in January. The amount of deposits in December of 2016 were up by 2.972 billion euros.

Greek bank deposits shrink in December

Greek private sector bank deposits registered a drop in December after rising in the two previous months, central bank data showed on Friday, with the fall attributed to statistical counting changes.

Business and household deposits fell by 3.42 billion euros, or 2.7 percent month-on-month, to 121.38 billion euros, their lowest level since July 2003.

One sentence explaining everything

Two statements, one after the other, came on the day the Russian Foreign Ministry announced the "Syria Summit" to be held together with Turkey and Iran. 

The first one was from the United States, which said economic sanctions applied to Russia after the Ukraine crisis were expanded, adding seven more Russian citizens and eight companies to the U.S. Treasury's list. 

Iran moves to change currency unit back to toman

Iran plans to revalue its rial tenfold and revert to the currency's old name, the toman, according to a bill approved on Dec. 7 by President Hassan Rouhani's cabinet, the official Islamic Republic News Agency (IRNA) has reported.

The currency was called the toman until the 1930s and most Iranians still refer to it by that name.