Economy

Bank of Cyprus shares will resume trading on the Cyprus Stock Exchange on Dec. 16, bourse authorities said on Friday, some 21 months after the stock was suspended during a chaotic bailout of Cyprus.

The stock will start trading at 0.24 euros a share, the stock exchange said in a statement.

Bulgaria's Commission for Protection of Competition (CPC) fined House Market Bulgaria AD, holder of the IKEA retail brand, with BGN 347 505 for misleading advertising, said the anti-monopoly watchdog.

The sum is 0.5% of the income of the company for 2013.

NBS keeps key policy rate at 8 percent

BELGRADE -- The Executive Board of the National Bank of Serbia (NBS) decided on Thursday to keep its key policy rate at the present level of eight percent.

Greece does not plan to draw on money from the International Moentary Fund for the remainder of its loan program, an IMF spokesman said on Thursday.

"Certainly it's our understanding now that the authorities intend to continue the current fund arrangement on a precautionary basis," IMF spokesman Bill Murray told reporters in Washington.

The Russian rouble fell in early trade on Friday, hitting a new historical low of below 57 against the dollar after a rate rise by the central bank failed to support the Russian currency.
   

There is only one problem in the Turkish education system; all other problems are sub-titles of this single problem: Inequality.

Education is the place where all the nationwide inequalities experienced in every walk of life start, and where they are reproduced every year.

BELGRADE - The Executive Board of the National Bank of Serbia (NBS) decided on Thursday to reduce the rate of mandatory bank foreign exchange reserves from 28 to 27 percent for funding sources with the maturity date of up to two years, and to cut the rate from 21 to 20 percent for bank funding sources with the maturity date of over two years.

BELGRADE - The Executive Board of the National Bank of Serbia (NBS) decided Thursday to keep its key policy rate at the present level of eight percent, the central bank said in a release.

In making the decision, the Executive Board was guided by the fact that y-o-y inflation is still moving below the lower bound of the target tolerance band, the NBS said.

BELGRADE - Three companies from Serbia stand ready to join the Eco-Management and Audit Scheme EMAS III, an EU environmental protection management system that allows participation by companies from countries outside the EU, Secretary of State at the Serbian Ministry of Agriculture and Environmental Protection Stana Bozovic said Thursday.

The food prices in Russia have risen significantly, reports the Nezavisimaya Gazeta daily, quoting data of the Russian Statistics Service.

Inflation is also rising - the data as of the beginning of December shows that the annual inflation has reached 9.4%.