ECONOMY

Eurobank ups cost of business loans

Eurobank EFG, the country’s second-largest lender, said it will raise interest rates on business loans by up to 0.50 percent as of today, citing the liquidity squeeze and the higher cost of interbank lending. The first Greek bank to announce it will increase the cost of money due to difficulties in interbank lending caused by Greece’s sovereign debt crisis, Eurobank will also increase the interest rate on some business savings deposits by up to 0.50 percent, it said in a statement.