Tag Archives: euros

Italy fines car finance cartel 678 million euros

Italy’s anti-trust authority said on January 9 it has fined a swathe of top car makers, including BMW, Fiat-Chrysler, Ford and Toyota, 678 million euros (USD 776 million) for operating a financing cartel. The car manufacturers and their respective banks which offer financing to customers purchasing vehicles were found guilty of running a cartel from 2003 to 2017, the AGCM ... Read More »

Zim scraps plan to convert dollar earnings to rands, euros

Zimbabwe’s central bank abandoned a plan to convert half of its export earnings into rands and euros as it explores ways to ease a shortage of dollars. In a statement on Tuesday, the institution said it will now require 50% of export earnings to be transferred to a Reserve Bank of Zimbabwe account. The central bank will then immediately credit ... Read More »

ECB lowers emergency funding cap for Greek bank to 69.1 bln euros

May 5 The European Central Bank lowered the cap on emergency liquidity assistance (ELA) Greek banks draw from the domestic central bank by 0.3 billion euros to 69.1 billion euros ($79.3 billion), the Bank of Greece said on Thursday. The move reflected improving liquidity conditions in Greece’s banking sector, helped by the stabilisation of private sector deposit flows, the Greek ... Read More »