Loan

DryShips Inc, the shipper that has a $700 million convertible note due December 1, is negotiating with banks for a loan that would help repay the debt after it canceled a bond offering over the weekend, according to two people with knowledge of the company’s plans.

The Metropolitanate of Moldova and Bucovina, in eastern Romania, has founded an institution from which priests and believers can take out loans at an interest rate of 6 per cent, well below to the current rates in the banking sector.

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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.

Islamic lender Bank Asya has announced that it will file a criminal complaint against “delinquent” public servants, in retaliation against mounting government pressure on the bank, which has been wrangling with financial constraints.

Turkey’s banking watchdog will take a closer look at the operations of the Islamic lender Bank Asya, after talks with potential buyers failed to yield results.

The Expert Consultative Council on KTB, a Bulgarian business representatives' group, has proposed a list of measures to rescue the troubled lender without burden to taxpayers.

Islamic lender Bank Asya, whose founders are known for having close ties with Islamic scholar Fethullah Gülen, has received another blow, as the Customs and Trade Ministry has joined with two other state institutions in cancelling their contract with the bank.

International investors are not optimistic they will get their money from Bulgaria’s Corpbank after the troubled lender defaulted on a bond payment last week, the FT has said.

Holders of USD bonds at Bulgaria's Corporate Commercial Bank (KTB) are planning to sue the government if the bond defaults and KTB is tipped into insolvency, reports Reuters.

By Alexis Papachelas