Economy

Greece's central bank slightly raised its forecast for economic growth this year to 0.7 percent and predicted growth of 2.5 percent in 2015, but warned political consensus was needed to ensure a return to steady growth.

The European Court of Auditors concluded on Tuesday that millions of euros in European funding has been wasted on 20 regional airports in the bloc, three of which are located in Greece.

Bucharest is Romania's city with the most shopping malls, which are preferred by over 45% of Bucharesters for buying clothing and footwear, according to a survey into Romanians' clothes-buying habits, released on Tuesday for AGERPRES.

The Turkish Lira hit a new record low on Dec. 16 as investors moved out of emerging markets amid the collapse of the Russian ruble and fretted over the impact of recent raids against Turkish media.
      

BELGRADE - The Serbian Association of Managers (SAM) has presented its 3rd annual awards, with the Manager of the Year award going to head of the Belgrade hotel Crowne Plaza Zivorad Vasic.

Tanjug Director Branka Djukic was among the candidates for the award.

The price of natural gas in Greece, used by industries and consumers for heating their homes, is expected to drop by as much as 20 percent in 2015, Deputy Energy Minister Makis Papageorgiou told a conference on Tuesday.

A total USD 25 B were illicitly syphoned off from Bulgaria in the past 10 years, shows the report Illicit Financial Flows from Developing Countries 2003-2012 of the Global Financial Integrity (GFI) NGO.

Brent crude oil prices fell over $1 per barrel and below $60 for the first time since July 2009 in early European trading today as Chinese factory activity slowed and stumbling emerging market currencies dented demand expectations.

Russia's central bank announced on Tuesday it increased its key lending rate to 17% with immediate effect to avert a currency crisis.

The rouble on Monday posted its biggest one-day drop versus the US dollar and the euro since 1999. The Russian currency traded 5.22 roubles lower to the dollar at 63.4 and 6.53 rubles lower to the euro at 78.81.

Hydrocarbon drilling at Bulgaria's Khan Asparuh  Black Sea block will be delayed by up to a year due to the slump in global oil prices, the international consortium holding the exploration licence has decided.