Economy

Moody’s on Tuesday confirmed Hellenic Telecommunications Organization S.A.’s (OTE) corporate family rating (CFR) at Caa2 and its probability of default rating (PDR) at Caa2-PD.

At the same time, Moody’s assigned a stable outlook to all ratings.

This rating action concludes the review for downgrade

Istanbul and Antalya have featured in a list of the world?s top shopping destinations for Muslim tourists in a report which provides detailed insights into their spending behavior while travelling. 

The MasterCard-CrescentRating Muslim Shopping Travel Index 2015 (MTSI 2015) has revealed Muslim travelers spent a total of $62 billion globally in shopping and dining. 

Bulgaria's business climate indicator dropped by 2.9 percentage points in September compared with August due to decreased business confidence in industry, construction and retail trade sectors.

Tofa?, a joint venture of Turkey?s Koç Holding and Italy?s Fiat Chrysler, has started producing a new Fiat sedan model, Fiat Egea, in the northwestern province of Bursa on Sept. 28 in a ceremony with Koç Holding Chairman Mustafa Koç, Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne and Tofa? employees in attendance. 

The Vice President of the European Commission, Valdis Dombrovskis warned that the salvage of Greek banks could be delayed. In an interview to financial site ‘Bloomberg’ Dombrovskis underlined the urgency of implementing the rescue plan for Greece and its banking system, stressing that the review of the 4 major Greek banks was linked to the country’s bailout plan.

The participants in a discussion on Bulgaria's energy exchange agreed that legal amendments were to pave the way for a change of the model so that the full liberalization of the market was achieved by the beginning of 2016.

Serbia is expected to see a dynamic growth of up to 1.5 percent next year, experts of the World Bank said on Monday.

This international financial institution added that economic growth in 2015 is estimated to reach 0.5 percent.

A new up and coming singer named Niykee Heaton is considered by the social media ‘pundits’ as the new Kim Kardashian, and not just for curvaceous body. This young 20-year old girl has earned the title by many sites and magazines as having the hottest butt in the world.

Turkey's Global Yat?r?m Holding has announced a deal with the European Bank for Reconstruction and Development (EBRD) to sell 10.84 percent of its stake in its port operator, Global Ports, according to a written statement to the Public Disclosure Platform (KAP). 

The Serbia dinar (RSD) grew by 0.1 percent against the euro (EUR) on Monday, making the official medium exchange rate RSD 119.8792 for one euro.

This is the highest value of the domestic currency since the beginning of the year, the National Bank of Serbia (NBS) said in a statement.