Finance
Turkey's Akbank targeted by hackers, faces up to $4 mln liability
Hackers targeted Turkish lender Akbank in a cyber attack on the SWIFT global money transfer system, the bank said, adding it faced a liability of up to $4 million from the incident but no customer information was compromised.
NBG proceeds to repayment of CoCos
National Bank of Greece announced on Thursday it has proceeded to the repayment of contingent convertible bonds (CoCos) amounting to 2.03 billion euros which it issued in December 2015 and were held by the Hellenic Financial Stability Fund (HFSF).
[Reuters]
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Poor retrieval rate from 'bad banks'
The resolution of Greek credit institutions that were split into "good" and "bad" banks has led to the collection of just 545 million euros out of the 2.45 billion euros in borrowers' debts that had been deemed retrievable.
This amounts to just 21 percent of the amount that is supposed to be recovered from the bad banks, a performance that is quite disappointing.
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Number of households travelling overseas to hit 282 million by 2025: Report
Roughly 282 million households will plan at least one international trip per year by 2025, a 35 percent increase from 2015, according to a report released by Visa Inc. on Dec. 13
Finance Ministry tables ambitious multi-bill
The multi-bill that the Finance Ministry tabled at midnight on Monday is aimed at containing value-added tax evasion - which amounts to 6.5 billion euros per annum - through tax-related incentives for electronic transactions, and at making taxpayers reveal any hidden incomes.
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Greek banks' ELA funding drops in November
Emergency central bank funding to Greek lenders fell by 2.8 percent, or 1.3 billion euros, in November compared to the previous month, Bank of Greece data showed on Tuesday.
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UniCredit slashes jobs, eyes 13-bln euros in fresh capital
Italy's biggest bank, UniCredit, announced plans on Dec. 13 to slash 14,000 jobs and raise billions of euros in fresh capital as the country gets to grips with political instability and a banking crisis.
Greece eyes bailout review deal in early days of 2017 at latest
Greece said on Tuesday it can conclude the latest review of its bailout with its international lenders by early next year but reiterated that its position on fiscal targets and labor reforms remains "unchanged."
Representatives from the country's EU and International Monetary Fund lenders resume talks with Athens later on Tuesday in an effort to break an impasse in negotiations.
Crowdfunding Offers Cash-Strapped Bosnians Hope
Since the war of the 1990s, international support has been a major source of funding for aspiring Bosnian businesses in a struggling economy - but some aspiring entrepreneurs are turning to more grassroots methods these days.
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Greece seeks 'honest compromise' in reform standoff, says Tsakalotos
Greece wants to end a standoff with its lenders through 'honest compromise', its finance minister said, indicating a willingness to give ground on reform, but he warned that inflexibility on their part could inflame anti-establishment sentiment in Europe.