Finance

Τhe platform for the repayment of outstanding debts to the state, the national social insurance agency (EFKA) and tax authorities in 72-120 installments will open by Friday, Finance Minister Christos Staikouras told Skai TV on Saturday. 

The capitalization of PeopleCert, the first Greek unicorn, currently stands at around $3 billion, while it has had growth rates of around 36% over the last decade.

It plans to become the first Greek "decacorn" with a capitalization of $100 billion.

A day before the end of the year's first quarter, the Greek stock market regained some more of the ground lost in previous days and appears to be regaining some of its January and February momentum - which for some can be attributed to Q1 window dressing.

The Finance Ministry of Cyprus has stressed the importance of having stable legislation regulating out-of-court auctions in tandem with an effective insolvency framework in order to achieve a reduction of bad loans.

The position of Greek banks in the face of the international banking crisis remains strong, Goldman Sachs points out, answering questions from its clients about the sector's capital, liquidity and investment portfolio.

The National Assembly has passed a law designed to reduce the impact of the annual increase in the minimum wage on households' creditworthiness after the latest increase rendered much of the population ineligible for a mortgage.

The Geneva watch fair opened on March 27 buoyed by booming growth in the watchmaking industry, but insiders warily eyed the banking sector turmoil, evoking painful memories of the 2008 financial crisis.

Cyprus Finance Minister Makis Keravnos has urged banks to restructure loans, maintain low lending rates and bank charges, and increase deposit rates in light of continued basic rate hikes by central banks. He warned that, otherwise, the government "would think differently of their intentions."

The chairman of Saudi National Bank, the main shareholder of troubled lender Credit Suisse which was bought out this month, has resigned, a statement said yesterday.

The Saudi bank's board of directors "accepted the resignation" of Ammar AlKhudairy "due to personal reasons," said the statement published on the Saudi stock exchange.

Measures to support and assist the relatives of the 57 people who lost their lives in the Tempe train collision of February 28, as well as passengers who were injured in the crash, are provided for in a bill submitted to Parliament on Friday by the Development and Investment Ministry.