Finance

Leaders of the union of pensioners' associations in Bosnia's Federation entity will meet next week to decide the date for protests against worsening living standards, the vice-president of the union, Mehmedalija Rapa, said.

Rapa said that up to 35,000 pensioners are expected to join the protests, expected sometime in the latter half of September.

Greece and its international creditors have reached on Tuesday an agreement on the terms of the third bailout programme, which Athens has to be granted in order to avoid bankruptcy.

Warren Buffett's Berkshire Hathaway will buy Precision Castparts, a leading metal products supplier to the aerospace industry, for $37.2 billion, the companies said on Aug. 10 in a joint statement.

According to Reuters news agency, Greek banks could receive a cash injection of up to 10bln Euros before the scheduled bank ‘stress tests’ are completed. The news agency cites a European Commission official, on condition of anonymity, pointing out that the Greek banks need an immediate inflow of money in order to operate smoothly.

The Abraaj Group, a leading investor group operating in global growth markets, has announced it acquired a stake in Yü-Ce Medical, a disposable medical supplies manufacturer in Turkey, in a written statement on Aug. 10. 

The new 50bln Euro Assets Fund will operate as a state-owned investment fund, according to sources within the Greek government. According to the same sources, revenues generated from the exploitation of possible mineral wealth will flow into the new Asset fund, while it will not operate on the principles of the current Hellenic Republic Asset Development Fund (TAIPED).

The Ministry of Finance is examining a triple change to the regulation for debt repayments in 100 instalments is set to affect 900,000 people who owe money. The changes, according to sources, will include an increase to interest rates, a reduction in the number of installments and consequences in the case of failure to meet tax obligations.

Greece’s daily Ta Nea reports:

Greek Labor Minister George Katrougalos met with a delegation of the All-Workers Militant Front (PAME), the Communist Party of Greece (KKE)-affiliated trade union.

Postbank will provide support to micro, small, and medium-sized enterprises in Bulgaria through loans worth a total of BGN 30 M granted under preferential terms.

The funding has been provided under a partnership agreement under the new program of the Bulgarian Development Bank for indirect financing of Bulgarian businesses, according to the press office of the bank.

Bulgaria's government debt totalled EUR 12.26B in nominal terms at the end of June, equivalent to 28.7% of the projected 2015 GDP, official figures show.

The total figure was EUR 50.7M lower than at the end of May due to repayment of debt during the month of June, the Finance Ministry said in a monthly debt bulletin.