News archive of January 2016

1) Markets see sharp routs ahead of Fed's rate move

The U.S. Federal Reserve finally raised interest rates on Dec. 16, 2015, ending an extraordinary period of government intervention in the financial markets that started at the height of the recession.  

Penalties for citizens and business owners who fail to pay taxes on time have been reduced.

This is envisaged in the changes to the Law on Tax Procedure and Tax Administration.

In a Facebook publication on the occasion of the new year, Prime Minister Boyko Borisov noted that Bulgaria had managed to maintain stability despite the dynamic events taking place around the world in 2015.

Borisov identified 2015 as a year full of work and new challenges, when many projects had been fulfilled and the foundations for the long-awaited reforms had been laid.

1) EU, Turkey joined by Syrian migrant crisis

European Union leaders became desperate to slow the flow of humanity to the shores of Europe over the past year, as Turkey promised to retain more refugees on its soil in return for greater benefits from the 28-member bloc.

Economist’s political cartoonist Kevin Kallaugher chose to refer to Greece and specifically to Greek Prime Minister Alexis Tsipras and the issue of debt negotiations.

Kallaugher with a caustic sketch criticizes Tsipras’s negotiation strategy mentioning that “‘Alexis Tsipras was not the dream Greece believed in”.

The cost of cigarettes, alcoholic drinks and electricity are all set to lighten Turks' wallets after the government imposed price hikes on the goods and services with the advent of the new year.

The government increased special taxes on the goods two days after announcing a 30 percent hike in the minimum wage for workers.

Turkish President Recep Tayyip Erdo?an, in a quest to find new ways to create a new constitution, has proposed "conference calls" with as many people as possible to provide a strong ground for "societal agreement."

Iraklio authorities are making special preparations to receive the first cruise ship that will sail into the city’s port in 2016.

The “Costa Luminosa” operated by the cruise company Costa Crociere will arrive next Saturday and port authorities will hold a special reception ceremony for passengers, with Cretan delicacies, a dance group and Minoan-themed events.

Two men who were detained on Dec. 30, 2015, on suspicions that they were going to detonate themselves on New Year's Eve in Ankara on behalf of the Islamic State of Iraq and the Levant (ISIL) were reportedly receiving orders from a man identified as "Ebu Enes," according to police.

Bulgarian defender Zhivko Milanov signed ? contract with the reigning football champion of Cyprus - Apoel Nicosia.

The contract has a duration of eighteen months with an option for extension.

Milanov started in Levksi Sofia where he has spent the most of his career.