Pension fund

Notaries will not attend home auctions on Wednesday

The coordinating committing of the Greek union of notaries on Tuesday announced its members would not be taking part in home auctions initiated by the Greek state, banks, pension funds and municipalities on Wednesday.

However, certain auctions could go ahead if permission was applied for by notaries, including those aimed at collecting unpaid wages or alimony, for instance.

Macedonia Pension Fund Probed Over Spiralling Debts

After Labour Ministry started to investigate the increasing debts run up by the State Pension Fund, PIOM, it rushed to repay its multi-million euro owings, private pension funds confirmed.

PIOM's debt burden had raised questions about its liquidity and the government's policy of annual pensions increases.

Pension fund Oyak buys Almatis from Dubai group

Turkey's largest private pension fund Oyak has agreed to buy German alumina products maker Almatis from Dubai International Capital (DIC), the company said in a statement on July 14.

Terms of the transaction were not disclosed.

However, a person familiar with the deal said that DIC was able to achieve a price close to its expectations of around $1 billion.

Croatia to Offer Shares in Highways to Citizens

Croatia has dumped controversial plans to offer its state-owned highways in a concession to private foreign companies, and has decided to offer shares in the highways to ordinary citizens instead.

The government is to offer the shares in the state-owned company Croatian highways, HAC, which manages most of the highways, to both ordinary citizens and pension funds.

Government takes state bodies' cash reserves to meet needs

With pressure growing on state coffers as cash reserves run low without any immediate prospect for the release of rescue loans, the government on Monday signed a legal degree obliging state bodies, with the exception of pension funds, to transfer their reserves to the Bank of Greece for the state?s use.

Pension funds' deposits in Bank of Greece could offer higher yield, Govt says

In response to a question tabled in Parliament by Golden Dawn MP Georgios Galeos over the management of Greece’s state-run pension funds, Alternate Finance Minister Dimitris Mardas said funds would be able to manage better their cash reserves by depositing them in the Bank of Greece.

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