E-commerce and Turkey.
spread their wings abroad after the country’s debt crisis forced them to retreat. Eurobank, which has operations in Romania, Bulgaria, Serbia and Cyprus, needs to shrink its non-Greek assets to 8.7 billion euros next year from about 11.2 billion currently, based on commitments agreed with European competition authorities. The bank said the potential sale will include Romanian units Bancpost, ERB Retail Services IFN and ERB Leasing IFN. “The details as regards the negotiations will be published after finalizing necessary steps and obtaining relevant approvals. Finalization of the negotiations is expected at the end of October,” Eurobank said.
Global ecommerce companies will be liable for taxes on goods sold directly to Turkish customers under a draw law proposed by Turkey’s government, Finance Minister Naci Agbal said yesterday. Agbal also told the state-run Anadolu agency that the budget deficit will be at around 60 billion lira a year by the end of the year.