Loan

International lenders concluded a fifth review of Cyprus’s economy on Friday, saying the island was making “relatively good progress” after a bailout last year but that key challenges lay ahead.

A UK court has agreed to extradite Greek businessman Kyriakos Griveas and his wife Anastasia Vatsika, who are wanted in Greece in connection with the unsecured loans scandal at Hellenic Postbank (TT).

Westminster Magistrates’ Court ruled that UK authorities should comply with the European arrest warrant issued by Greek authorities.

Bulgarians will pay fewer fees when getting a new loan after the amendments to the Consumer Credit Act come into effect as of July 22.

These include the fees for utilization and management, and the penalty interests for repayment of mortgage loans, Nova TV informs.

 Athens proposes extension and a fixed instead of floating rate

By Sotiris Nikas

The eurozone is responsible for almost three-quarters of the Greek state’s debt, which automatically puts it in control of the country’s obligations and explains the why the Greek government is trying so hard to have the terms of the repayment of loans altered.

Eurobank, Greece's third-largest lender by assets, said on Friday it had hired five investment banks to arrange a possible bond sale.

"Eurobank... has mandated Credit Suisse, HSBC, JP Morgan, Mediobanca and Nomura to arrange a series of fixed-income investor meetings in Europe starting from June 16," the bank said in a statement.

Banks will no longer charge fees for the utilization and management of consumer loans, after Bulgarian lawmakers adopted on second reading amendments to the Consumer Credit Act.

Bulgaria's Government approved the preparations for issuing state bonds at the international stock market, said the Government press office. 

The Government authorized Finance Minister Petar Chobanov to negotiate with the selected managing banks and the legal consultants, as well as to sign on behalf of the state all necessary documents. 

A set of amendments to the Consumer Loan Act passed first reading in Bulgaria's Parliament.

The legal changes, put forth by Yordan Tsonev, MP from liberal party Movement for Rights and Freedoms (DPS) and Rumen Gechev, MP from the Bulgarian Socialist Party (BSP), were approved with 99 votes in favor, 4 votes against and 7 abstentions, according to reports of dnevnik.bg.

BELGRADE - Serbia should use the USD 1 billion loan granted by the United Arab Emirates (UAE) to pay back expensive loans and launch reforms, economist Sasa Djogovic of the Belgrade Institute for Market Research (IZIT) stated on Thursday.

We received a loan from UAE on more favourable terms than currently available on the market, Djogovic told a news conference.