Insolvency

Regardless of how many companies in Romania are insolvent, it is currently important to have a fresh law, but in my opinion, restructuring is needed by all the 700,000 companies in our country, Adrian Vasilescu, advisor to the Governor of Romania's National Bank /BNR/, told a Thursday's specialist conference.

The Sofia City Court has stopped insolvency proceedings launched at Corporate Commercial Bank (KTB).

At its first session on the case held Monday it thus complied with the appeal filed by KTB's majority owner Bromak with the Supreme Administrative Court.

London's landmark "Gherkin" office tower has been sold to investment company Safra Group, controlled by Brazilian-Lebanese billionaire Joseph Safra.
   

WASHINGTON - The World Bank has issued a prognosis of business conditions around the world for 2015 and ranked Serbia 91st out of 189 countries, which is drop from last year's rank of 77, leaving only Bosnia-Herzegovina with a worse rank, at 107th spot.

While old debts to the state have grown to 70.1 billion euros, after adding another billion in September, an eagerly anticipated regulation for the provision of new payment programs is being delayed due to reactions from the country’s creditors and the responsible ministers’ inability to agree on a proposal.

Habits in humans' behaviour were dominated by digital in a quota of 44 percent in 2013, compared to 30 percent in 2010, Google Romania Country Manager Dan Bulucea pointed out on Tuesday.

Eurozone finance ministers on Friday urged Cyprus to tighten up new legislation on private sector debt restructuring, a key to meeting its bailout conditions, saying it is waiting for confirmation before the next tranche of aid can be issued.

By Evgenia Tzortzi

The issue of extending the foreclosure protection period for financially troubled homeowners struggling with debts will form part of the government’s negotiations with representatives of the country’s international creditors in Athens at the end of the month.

BELGRADE - Serbia's Prime Minister Aleksandar Vucic said on Wednesday he believed it possible to find a solution for around 40 restructuring companies and save them from bankruptcy.

BELGRADE - The Serbian parliament passed three media bills and a set of economic bills on Saturday.

It adopted the privatisation bill and the bills amending the bankruptcy law and the law on the procedure of registering with the Serbian Business Registers Agency, as well as the bills on public information, electronic media and public media services.