International finance
Crisis-hit Turkey survives as an extension of China
Turkey is weathering the storm of a catastrophic currency crisis through tighter trade integration with China
Survey shows pandemic makes cashless payment more popular in Central Europe
Ljubljana – Consumers in five Central European countries, including Slovenia, have been using cashless forms of payment more often since the start of the Covid pandemic. Electronic payment is the most popular in Slovenia, where the majority of the surveyed residents would oblige retailers to offer at least one form of cashless payment.
Citu: In order to have stable currency, you need stable government, not oust own government
Prime Minister Florin Citu stated on Wednesday evening that in order to have a stable national currency, "you need a stable government". Asked at the private TV broadcaster Digi 24 when the euro will reach a 5 RON exchange rate, he answered: "I want to remind you that last year they said it will be 5 RON, but it was not.
BNR's foreign reserves go up by almost 6% in July, to 39.008 billion Euro
The foreign reserves of the National Bank of Romania (BNR) were, at the end of July 2021, at 39.008 billion Euro, rising by 5.9% from the level of 36.831 billion Euro registered on June 30 2021, the central bank announced on Monday.
Turkish firms reduced exposure to foreign exchange risks: Fitch
Turkish corporations have reduced their direct exposure to foreign exchange risks in the past few years, Fitch Ratings said in a statement on June 16.
Hungary’s OTP bank signs deal to acquire NKBM bank
Ljubljana – The Hungarian OTP Bank Group announced on Monday it had signed a contract to acquire the outright stake in NKBM, Slovenia’s second largest bank. The deal is expected to be finalised in the second quarter of next year as the acquirer is waiting approval from relevant regulatory authorities.
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Current account registers $2.9 bln gap in June
Turkey's current account balance posted a deficit of $2.93 billion in June, slightly down from the market expectation, according to the Turkish Central Bank data on Aug. 14.
The June figure widened by $2.8 billion from the same month last year, data showed.
The country's 12-month rolling deficit totaled at $11.1 billion, the bank said.
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Current account deficit shrinks in March, y-o-y
Greece's current account balance showed a smaller deficit in March compared to the same month last year, on the back of improved trade and primary income account balances that offset a smaller services surplus, the Bank of Greece said on Thursday.
Central bank data showed the deficit at 1.106 billion euros from a deficit of €1.538 billion in March 2019.
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Current account sees $4.9B deficit in March
Turkey's current account balance saw a deficit of $4.92 billion in March, according to official figures released on May 13.
The deficit was $120 million in the same period last year, said the Central Bank.
The bank's balance of payments figures showed the country's 12-month rolling surplus amounted to $1.46 billion.
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Europe after Covid-19: Back to the old normal, but with steroids?
It is now clear that in Europe, as elsewhere, neither health services nor social protection systems were in place when Covid-19 hit. The European "project" is again being tested.