Economy
Turkish Court of Accounts doesn't reveal audit reports, raising concerns about transparency
The Turkish Court of Auditors has not announced its annual audit reports publicly, reversing the practice of releasing detailed reports in the past, raising concerns about transparency in public spending.
Bulgaria's Overgas Claims It Has No Overdue Debts to Gazprom
The Bulgarian-Russian natural gas company Overgas claimed on Saturday that it has no overdue debts to any organizations, including Gazprom Export.
This statement comes in response to the dispute between Overgas and Gazprom, which threatened to leave the customers of the former without gas supplies from January 1.
Bulgarian Employers Plan 4-5 % Increase of Salaries in 2016
Bulgarian employers are planning an increase of salaries by 4-5 % in the new year.
This is shown by a study conducted for private bTV station among the members of the Bulgarian Industrial Capital Association (BICA).
The employers are moderate optimists for the new year, but uncertainty remains.
Greeks’ property under strict surveillance
New Year welcomes Greek citizens with strict economic measures to combat tax evasion, since the goal of the Ministry of Finance is to record and monitor thoroughly all assets of Greek citizens.
In this framework, the economic team of the government plans to impose a mandatory declaration of property status.
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From the 'Children of recession' to the 'Children of Sur'
The Sur district of Diyarbak?r province continues to be kept under military curfew.
Security forces are trying to remove barricades, which are often "manned" by mere teenagers, from the streets. As important as it is to resolve the security problem, our questions cannot stop there.
Europe puts an end to mass bank bail-outs
The Single Resolution Mechanism (SRM) became fully operational on 1 January 2016 and will bolster the resilience of the financial system and help avoid future crises by providing for the timely and effective resolution of cross-border and domestic banks.
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Economy in review 2015
1) Markets see sharp routs ahead of Fed's rate move
The U.S. Federal Reserve finally raised interest rates on Dec. 16, 2015, ending an extraordinary period of government intervention in the financial markets that started at the height of the recession.
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Reduced penalties for not paying taxes on time
Penalties for citizens and business owners who fail to pay taxes on time have been reduced.
This is envisaged in the changes to the Law on Tax Procedure and Tax Administration.
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China factory activity contracts for 5th month: Official PMI
Activity in China's manufacturing sector contracted for a fifth straight month in December, an official survey showed on Jan. 1, reinforcing fears the world's second-largest economy may be stuck in a protracted slowdown despite a flurry of stimulus measures.
State to take 99 liras of its 110-lira of minimum wage support in taxes
The Turkish state has announced it would give employers 110 Turkish Liras per employee to decrease the burden of the minimum wage raise, while it will also tax around 99 liras per employee, in effect only slightly decreasing businesses' burden.