Alpha Bank has been named Greece"s "Bank of the Year" for 2011 for a second year in a row by "The Banker" magazine.The official awards ceremony was hosted in London on November 30, 2011.The jury recognised Alpha Bank for its resilient operating performance in 2011. Its conservative strategy and cost-cutting initiatives were praised by the judges as positioning the Bank well to withstand the finan...
In spite of the relative slowdown in the third quarter, Bulgaria"s economy will live true to the forecasts of a GDP growth of about 2% in 2011, according to the monthly macroeconomic report of Raiffeisenbank Bulgaria.Domestic consumption is replacing exports as the primary engine of growth but its dynamic remains uncertain with respect to the development of outside factors and their potential effe...
Bulgaria"s National Revenue Agency (NRA) will expedite the payment of BGN 400 M in VAT refunds to the business sector by the end of 2011, said NRA Director Krasimir Stefanov on Thursday.In an interview for the Bulgarian National Radio (BNR), he said that Finance Minister Simeon Djankov had ordered urgent VAT returns because the companies badly needed fresh money.According to statistics of the Fina...
Bulgaria’s Parliament has adopted at second reading the framework for the 2012 state budget within the debates on the 2012 State Budget Act late Thursday night.Thus, the MPs sealed the key figures in Bulgaria"s draft budget for 2012, as defended by Minister of Finance Simeon Djankov, including a budget deficit of 1.35% of GDP, or about BGN 1.5 B, next year.The adopted 2012 Bulgarian state budget f...
Ratings agency Standard and Poor"s has put almost the entire eurozone, including Germany and France, on "credit watch" due to fears over the impact of the deepening debt crisis.S&P"s move means six countries with top AAA ratings would have a 50% chance of seeing their ratings downgraded.The only two countries not put on credit watch on Monday were Cyprus, which is already under review, and Gre...
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