UBS

Small Greek lender Attica Bank has postponed for a second time a shareholder vote on a 434 million euro (542.3 million US dollar) fundraising to plug a capital shortfall, saying it needed more time to finish talks with investors.

Last month, the 79-branch bank had put off a shareholders' vote scheduled for Oct. 13 until Monday (Nov. 10), citing the same reason.

The Kazanlak-based military plant Arsenal will create 1000 jobs and make a substantial investment in new equipment, according to CEO Nikolay Ibushev.

Ibushev, as cited by econ.bg, explained that the upgrade of the machines had been planned mainly for the two biggest units of Arsenal.

Privatization Agency selling 502 companies and subsidiaries

BELGRADE -- Serbia's Privatization Agency announced on Friday the sale of 502 state-owned companies and their subsidiaries.

The list includes the Resavica coal mines, Galenika, Petrohemija, Azotara, FAP, Mostogradnja, Jat Tehnika, Lasta, Simpo, C market and Belgrade Fair.

BELGRADE - Serbia's Privatisation Agency will post on its website www.priv.rs on August 15 a public invitation for letters of intent to purchase 502 government companies and their subsidiaries, according to the new law on state asset sale, which entered into force on Wednesday.

Lawmakers have decided to postpone discussions on budget act amendments proposed by the government, MPs say.

The changes to the 2014 fiscal plan were due to be debated Thursday, but are not included into the agenda as the main ruling Bulgarian Socialist Party (BSP) has announced it opposes them.

No session was held in Parliament on that day as MPs failed to reach quorum.

Lawmakers are due to have a first-reading say on changes to the Penal Code envisaging up to 10 years of imprisonment for spreading misleading information on banks. 

Under amendment proposals submitted by Bulgaria's central bank BNB, those disseminating information potentially leading to a surge of panic among citizens could face between two and five years behind bars.

 NBG looks set to boost its assets by 400 mln euros and its capital adequacy ratio by 70 basis points

By Yiannis Papadoyiannis

National Bank of Greece is proceeding with the absorption of its corporate management subsidiary Ethniki Kefalaiou, as Kathimerini understands that the decision has already been approved at all corporate levels and will be immediately enforced.

The Republic of Cyprus has started marketing its first post-bailout public debt sale with a yield in the 5 percent area, according to a lead.

The June 2019 transaction is expected to take place on Wednesday.

Deutsche Bank, Goldman Sachs, HSBC, UBS and VTB Capital are arranging the sale.

BELGRADE - Total personal debt in Serbia increased by more than RSD 11 billion from the beginning of the year to late May, and stands at RSD 627.41 billion, according to the latest report by the Association of Serbian Banks (UBS).

Cyprus’s president says the bailed-out country could start borrowing from international markets by the end of this month, a full year ahead of what its creditors had initially anticipated.