Financial economics

63% of Bulgarians have taken out a consumer loan and half of them are ready to take out a new loan, according to a survey.

According to the survey, as cited by private TV station bTV and Sega daily, 37% of Bulgarians refrain from taking out loans because they fear that they will run up debts.

Greek government bond yields rose to their highest level in almost two months on Monday as Athens' plans for an early exit from the country's bailout programme raised concerns about its future financing and debt relief.

Turkey’s stock exchange Borsa Istanbul suspended the trading of Islamic lender Bank Asya’s shares twice within one session, but the bank enjoyed 9-percent gains after the ban was lifted

Bulgaria's Deposit Insurance Fund (BDIF) is ready to pay the deposits of up to EUR 100 000 in case the troubled Corporate Commercial Bank (KTB) loses its license.

According to the DIF press statement, which came in response to the infringement proceedings opened by the European Commission against Bulgaria for delaying the payment of the guaranteed deposits.

The recent growth in the yields of Greek 10-year bonds, the market’s benchmark, is due to the government advertising a new issue of seven-year bonds in the coming weeks, according to market analysts.

Investors are opting to sell the debt they have in their hands to obtain the cash for them to buy the new government paper.

Businessman Kyriakos Griveas and his wife Anastasia Vatsika, wanted in connection to alleged bank fraud, were released on bail Monday after facing a magistrate in Athens.

The judge asked Griveas to post bail of 500,000 euros and his wife 100,000 after the both gave their depositions.

Turkish stock exchange Borsa Istanbul briefly suspended the trading of Islamic lender Bank Asya shares Sept. 18, citing extraordinary movements in the exchange of the lender’s shares.

By Dinesh Nair, Ercan Ersoy & Ruth David

National Bank of Greece SA has hired banks including Goldman Sachs Group Inc. to sell as much as 40 percent of Turkish unit Finansbank AS in a secondary share offering, three people with knowledge of the matter said.

Bill Gross, the co-founder of Pacific Investment Management Co (Pimco), sold most of the $48 billion of US Treasuries held by his $221.6 billion Pimco Total Return Fund in the second quarter, replacing them with about $45 billion of futures, according to an August filing.

A review of the pensions being paid out by the Greek state and new, stricter rules governing pension registrations have led to savings of a total of 42 million euros in the past two years, Alternate Finance Minister Christos Staikouras said on Tuesday.