Socialists propose amendments to Bank Deposit Act

Socialists propose amendments to Bank Deposit Act

15:48 | 30.07.2014 | by StandartNews
Sofia. "We are introducing a bill to amend to Bank Deposit Guarantees Act. Payments of deposits of all clients of a given bank must be made if said bank has been under special supervision for more than 2 months and does not operate," declared BSP MP Yanaki Stoilov in Parliament. According to him clients should be able to withdraw their funds as early as September 21. The proposal to emit new bonds does not define the reasons for this or the amount. It is not clear if a caretaker...
Visa and MasterCard will not block card operations by Russian banks hit by fresh US sanctions

Visa and MasterCard will not block card operations by Russian banks hit by fresh US sanctions

15:43 | 30.07.2014 | by StandartNews
Visa and MasterCard will not block card operations by Russian banks hit by fresh US sanctions, the international payment operators' Moscow offices said on Wednesday. The US administration announced sanctions on Tuesday night against VTB Bank, Russian Agricultural Bank and Bank of Moscow, ITAR TASS reports. "The new package of US economic sanctions is not affecting Visa operations in Russia and is not obliging Visa to suspend or block operations by financial institutions hit by sanctions...
GERB backtracks on budget amendments

GERB backtracks on budget amendments

15:37 | 30.07.2014 | by StandartNews
Sofia. GERB no longer supports budget amendments and will not attend plenary sessions, party leader Boyko Borisov told reporters in Parliament. Yesterday budget amendments were approved by GERB and MRF at first reading. Today the tide has turned, with GERB and Ataka MPs not present in Parliament. Subsequently there was no quorum and no session took place. "Why should GERB support ex-Prime Minister Oresharski, when his own party (Bulgarian Socialist Party) does not? We have wanted him to...
MRF supports budget amendments, will not keep government mandate

MRF supports budget amendments, will not keep government mandate

15:30 | 30.07.2014 | by StandartNews
Sofia. All MPs of the Movement for Rights and Freedoms will vote in favor of amendments to the state and health office budgets on August 4, assured party leader Lyutvi Mestan after the failed attempt at a plenary today. He added that his party would not keep the government mandate, which was offered to him by President Plevneliev today at 2 pm. "This is a strange question, because what will happen today mirrors what already did on June 29 at the first talks at the Presidency when we...
Mercosur: South American countries agree to create new free trade block

Mercosur: South American countries agree to create new free trade block

12:30 | 30.07.2014 | by StandartNews
Participants of the Southern Common Market (Mercosur) summit are expected to sign documents establishing a new economic zone that includes the member states of the Bolivarian Alliance for the Peoples of Our America (ALBA), the Caribbean Community (Caricom), Mercosur and Petrocaribe, Venezuelan Foreign Minister Elias Jaua said. "Mercosur is a mechanism open to cooperate with all of the world economic and trade blocks, so that there is no contradiction here," Telesur quoted Jaua as saying...
Messi faces messy tax-fraud probe with up to 6 years in prison

Messi faces messy tax-fraud probe with up to 6 years in prison

12:16 | 30.07.2014 | by StandartNews
Lionel Messi, the highest-paid soccer player in the world, might be in some serious financial trouble. The soccer star and his father allegedly owe $5.3 million in unpaid taxes to Spain, Time reports. If they — in an unlikely case — are convicted, the pair could face up to six years in prison and nearly $32 million in fines. A Spanish court will push ahead with prosecuting the Barcelona forward despite a recommendation from the public prosecutor the charges be dismissed....
Offshore South Stream construction to create 2,000 jobs in Bulgaria

Offshore South Stream construction to create 2,000 jobs in Bulgaria

12:05 | 30.07.2014 | by StandartNews
Over 2,000 jobs will be created during the construction of sea section of the South Stream pipeline and the 2 km area into the Bulgarian coast, the new Environmental Impact Assesment (EIA) report of the project informs. The EIA is still awaiting discussion and approval. According to published data the pipeline will have a positive effect on the Bulgarian economy. One of the benefits will be the hiring of 2,000 to 2,370 workers. Most will be employed temporarily, but others will be...
Europe expected to lose EUR 90BN from Russia sanctions in 2014/15

Europe expected to lose EUR 90BN from Russia sanctions in 2014/15

09:08 | 30.07.2014 | by StandartNews
The European Union yesterday approved to imposing sectoral economic sanctions on Russia for its role in the Ukrainian conflict. Yet the EU itself will also be hurt significantly by the capital markets restrictions and trade bans for defence, high technology and goods that can be used both for military and defence purposes. The EU commission expects the EU to lose €40 billion (0.3% of GDP) this year and €50bn in 2015 - the equivalent of 0.4 percent of the EU GDP - as Russia is...
Kiev is preparing for a gas shortage-caused cold winter

Kiev is preparing for a gas shortage-caused cold winter

08:58 | 30.07.2014 | by StandartNews
Ukraine's capital city Kiev should get prepared for a "very hard winter" over gas shortages, a top-ranking official of the Kiev city administration's public utilities department said on Tuesday. "Ukraine's current gas resources are distributed between the regions very neatly," Dmitry Novitsky, the head of Kiev's housing and utilities infrastructure department, told the Kiev television and radio company. "Thus, a total of 1.2 billion cubic metres of gas were allocated to Kiev, and this gas is...
BG state budget fixed by BGN 3.4 BN no matter BSP opposition

BG state budget fixed by BGN 3.4 BN no matter BSP opposition

08:48 | 30.07.2014 | by StandartNews
Bulgaria's state budget got fixed by BGN 3.4 billion after 5 hours of debate of the national lawmakers. At 8.30 pm 117 members of GERB and DPS pushed through the update with 61 Socialists voting "against". The problem of the Socialists, whose government resigned just last week, was that according to them GERB wants to empower the caretaker government to borrow. According to the BSP, however, empowering the provisional cabinet this way is unconstitutional, and the update of...
Netherlands and Australia send 700 armed men to MH17 crash site

Netherlands and Australia send 700 armed men to MH17 crash site

08:35 | 30.07.2014 | by StandartNews
The international mission to secure the MH-17 crash site in Ukraine's eastern Donetsk region will be allowed to carry and use arms, the Ukrainskaya Pravda newspaper reports with reference to the text of a relative agreement between Ukraine and the Netherlands. Of the 298 people killed in the Malaysia Airlines Boeing crash, 193 were Dutch. The Dutch-led mission will be formed from military and civilian personnel of the Netherlands and Australia, ITAR TASS reports. Ukrainian President Petro...
BG lawmakers agree to "heal" National Health Insurance Fund with BGN 225M

BG lawmakers agree to "heal" National Health Insurance Fund with BGN 225M

08:24 | 30.07.2014 | by StandartNews
Yesterday late afternoon Bulgarian deputies had passed smoothly the update of the health budget: the National Health Insurance Fund (NZOK) got a BGN 225 million boost thanks to the approval of 184 deputies from GERB, BSP and DPS - a long unseen majority as compared to the usual quorum problems of the House. Though less than the BGN 328 million originally asked by the NZOK, by a vote of 184 "for", one abstention and null "against", the MPs agreed to allocate additional...
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