Money
Bulgaria’s Minister of Social Affairs: From July 1 the Minimum Pension will be 523 Leva
After July 1, pensions will increase by 12%, Minister of Labor and Social Affairs Ivanka Shalapatova told bTV.
She stated that Finance Minister Asen Vassilev confirmed that there is money in the budget for the increase in pensions under the so-called swiss rule
This means that pensions from 467 leva will increase to 523 leva.
Central Bank’s rate-setting meeting to be held this week
All eyes will be on the Central Bank this week when the Monetary Policy Committee (MPC) is set to meet on June 22 to decide about the policy rate.
Flexible ‘penalty’ for retirees?
The New Democracy party, which is poised to win the June 25 election, is planning for a more flexible pension reduction regime for retirees who still want to work, with the aim of legalizing their employment, but also of staffing businesses that are unable to fill job vacancies with experienced employees.
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From floating to fixed rates
The banking market is witnessing a trend of conversion of mortgage loans that were contracted with a floating interest rate into a long-term fixed interest rate (mainly five years), as the persistence of inflation at high levels continues to make borrowers nervous about the evolution of interest rates after the end of the freeze that banks have implemented.
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Foreign investors keeping eye on economic policies
Foreign investors and Türkiye watchers are keeping a close eye on the steps the new economic team will take in the period ahead.
There are expectations that portfolio inflows in to the country may increase depending on the messages sent out by those at the helm of the economy management.
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BoC dips toe in CoCo market
Spain's BBVA and Bank of Cyprus reopened the market with the issuance of the first euro-denominated contingent convertible bonds (CoCo) since the rescue of Credit Suisse in March, in what is seen as an attempt to restore confidence in the banks' riskiest debt instruments.
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New Cyprus court for foreclosures
The groundwork for the establishment of a specialized jurisdiction court in Cyprus, which will exclusively handle issues related to primary residence foreclosures, will be laid on Thursday.
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George Soros passes his Empire to son Alexander
American billionaire and philanthropist George Soros is handing over control of his empire of foundations, valued at $25 billion, to his son Alexander Soros, the Wall Street Journal reported.
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Soros surrendered his empire: "He deserved it"
George Soros, who made a billion dollars "betting" against the British pound, said earlier that he did not want his foundation to be taken over by any of his five children.
However, he appointed Alexander as director of one of the world's richest philanthropic foundations.
"He deserved it," said Soros, whose fortune is estimated at $6.7 billion.
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Divided Fed expected to rally around US interest rate pause
The U.S. Federal Reserve is widely expected to pause its campaign of interest rate increases on June 14 to give policymakers more time to assess the economic impact of existing hikes and recent banking stresses.