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Cyprus budget submitted to Parliament
19.10.2013

Cyprus budget submitted to Parliament

Budget Cyprus on 2014 year was transferred to the Parliament of the Republic. It is expected that on Monday, Finance Minister Harris Georgiades will present the budget committee of Parliament responsible for financial and budgetary matters.

Cyprus can not find buyers Ukrainian Branch CPB
19.10.2013

Cyprus can not find buyers Ukrainian Branch CPB

The Government of Cyprus can not find bidders for the purchase of "Marfin Bank", a Ukrainian institution after the bankruptcy of the parent institution - Cyprus Popular Bank - in April, was put up for sale. This writes "Kommersant Ukraine".

Anastasiadis wants to dismiss the head of the Central Bank
19.10.2013

Anastasiadis wants to dismiss the head of the Central Bank

Cyprus President Nikos Anastasiadis announced his intention to seek removal from his post as head of the Central Bank of the Republic Panicos Demetriades spite of warnings from the EU leaders against limiting the independence of the financial regulator.

Strzhalkovskiy risk committee headed by Bank of Cyprus
17.10.2013

Strzhalkovskiy risk committee headed by Bank of Cyprus

Deputy Chairman of the Board of Directors of Bank of Cyprus Vladimir Strzhalkovskiy headed risk committee of the governing body of the largest on the island of the credit institution.

Downturn in the economy of Cyprus this year will be less than predicted
16.10.2013

Downturn in the economy of Cyprus this year will be less than predicted

Downturn in the economy of Cyprus this year will be less deep than forecast international lenders. This was stated by Finance Minister Haris Georgiadis in London at an event organized by the Cyprus investment promotion agency.

Foreign experts investigate Cyprus crisis
16.10.2013

Foreign experts investigate Cyprus crisis

A group of foreign experts will assist in the investigation of the financial crisis in the country.

"Lagarde List" for Cypriots
13.10.2013

"Lagarde List" for Cypriots

The Government of Cyprus has formally requested "Lagarde list" from the French Ministry of Finance, to find out what and Cypriot offshore companies have hidden deposits abroad, writes Greek newspaper To Vima.

Cypriot Minister visit to Moscow
13.10.2013

Cypriot Minister visit to Moscow

Russia and Cyprus are interested in increasing the volume of trade in agricultural products and foodstuffs.

GDP fall
12.10.2013

GDP fall

Statistical Service of Cyprus has published data showing that the rate of decline in GDP in the second quarter of the year is estimated at 2013 5.9% relative to the second quarter of the year 2012, informs "Komsomolskaya Pravda".

The Cyprus government has approved a draft budget for the year 2014
12.10.2013

The Cyprus government has approved a draft budget for the year 2014

The Cyprus government has approved a draft budget for the year 2014, which aims to reduce the budget deficit below the level agreed with international lenders.

Former head of the Bank of Cyprus disputed penalty in the Supreme Court
09.10.2013

Former head of the Bank of Cyprus disputed penalty in the Supreme Court

Former head of the Bank of Cyprus - Yiannis Kypri filed to the Supreme Court, demanding to cancel imposed on him a fine of 120 thousand euros. The money he has to pay by the decision of the Commission on Securities and Exchange Commission for the island nation that participated in the concealment of financial regulators of the purchase of Greek government bonds in 2010 year than misled shareholders and investors about the situation in the bank.

"Fuel" cent raise infrastructure
09.10.2013

"Fuel" cent raise infrastructure

While the Ministry of Finance assured the population that new taxes are not expected, the Ministry of Communications and Works is preparing to make a proposal to raise fuel prices.

How much will cost assistant ministers
09.10.2013

How much will cost assistant ministers

According to forecasts of the Ministry of Finance, Assistant Secretary of each service will cost the state treasury 117 thousand euros per year.

Unemployment continues to break records
08.10.2013

Unemployment continues to break records

The number of unemployed registered at the district offices of the Employment Service on the last day of September, reached, seasonally adjusted, 52 112 people., While in the previous month they were 51 275.

The President will lead the campaign to attract foreign investors
07.10.2013

The President will lead the campaign to attract foreign investors

Cyprus President Anastasiadis said he intends to lead a campaign to attract foreign investors to Cyprus and within it will make several trips to the country's strategic importance. The first two-day visit is scheduled in Kuwait, where the president will go tomorrow.

Moody's negative view of the banking system of Cyprus
04.10.2013

Moody's negative view of the banking system of Cyprus

International rating agency Moody's Investors Service has left unchanged the negative outlook for the banking system in Cyprus. This is stated in a report published today the agency's analysts.

Industrial production fell by Cyprus 12.8% in July
02.10.2013

Industrial production fell by Cyprus 12.8% in July

Statistical Agency of Cyprus, published on Monday, 30 September data showing that in July 2013 the industrial production index decreased by Cyprus 12.8% compared to July 2012 year and made 86.1 points.

Chinese investment may fall
01.10.2013

Chinese investment may fall

Greed Cypriot estate agencies can reduce the Chinese investment. On this September 27 said Interior Minister Socrates Hasikos at the annual meeting of the Cyprus Association of Realtors.

Outflow of funds from banks in Cyprus in August was 1,45 billion euros
27.09.2013

Outflow of funds from banks in Cyprus in August was 1,45 billion euros

The total amount of deposits in banks in Cyprus fell in August to 2,9 percent or 1,45 billion euros. This was announced today the Central Bank of the Republic.

Resignation for ethical reasons
26.09.2013

Resignation for ethical reasons

Board of Directors The Board of Directors of the Central Cooperative Bank resigned. About this 25 September Cypriot media reported. According Sigmalive, reason for the resignation is the fact that the bank was state support needed to recapitalize.

The Board of Directors of Bank of Cyprus includes six representatives of Russia
25.09.2013

The Board of Directors of Bank of Cyprus includes six representatives of Russia

The Central Bank of Cyprus gave final approval to the Board of Directors of Bank of Cyprus. This is stated in a report released today by the largest and the system for the economy of the credit institution which is in the process of restructuring.

Middle East investment
24.09.2013

Middle East investment

Citizens of the United Arab Emirates have a keen interest in Cyprus and are willing to invest in the island's economy. In particular, in the energy sector (development of hydrocarbon deposits in the EEZ), as well as in the sphere of tourism and the creation of a casino.

Head of the Central Bank of Cyprus refused to resign
23.09.2013

Head of the Central Bank of Cyprus refused to resign

Head of the Central Bank of Cyprus Panicos Demetriades refused to leave his post in terms of criticism of its actions on the conclusion of the banking sector crisis by President Nikos Anastasiadis, the government and the leaders of several parties.

Money laundering in Cyprus - a myth?
23.09.2013

Money laundering in Cyprus - a myth?

According to a recent report of the world-renowned Basel Institute on Governance, risk of money laundering and sponsoring terrorism in Cyprus - is very small compared to many other EU countries.

Cyprus: life goes on
21.09.2013

Cyprus: life goes on

Through 3-4 years can be seriously talk about a return of capital to Cyprus.

Cyprus President expressed his confidence in the head of CB
19.09.2013

Cyprus President expressed his confidence in the head of CB

Cyprus President Nikos Anastasiadis publicly expressed confidence in the head of the Central Bank / Central Bank / Republic Panicos Demetriades and announced his intention to take legal steps to remove him office. About this Cypriot leader said late on channel "Mega".

IMF: Cyprus banks face new shocks
19.09.2013

IMF: Cyprus banks face new shocks

The banking sector in Cyprus to prepare for a new period of turbulence, since the amount of deposits continued to decline, and the share of problem loans, apparently, soon rise sharply, international lenders have warned the island nation.

Restrictions will be removed in January
19.09.2013

Restrictions will be removed in January

Cyprus plans to shoot in January, all restrictions on the movement of funds, introduced in March after freezing deposits in local banks. This was announced in an interview with Bloomberg Cypriot President Nicos Anastasiades.

State partially compensate losses
18.09.2013

State partially compensate losses

In total 299 million euros will be refunded by the state five hundred savings and pension funds, whose assets were kept in the former Cyprus Popular Bank (Laiki), writes 17 September 'Fileleftheros. "

IMF approved the next tranche
17.09.2013

IMF approved the next tranche

The Executive Board of the International Monetary Fund praised the progress observed in the Cypriot economy in the framework of the program agreed with the "troika" of international creditors (IMF, EU and ECB) and endorsed 16 September next tranche of economic aid to the island nation in the amount of 84,7 million euros.

Eurogroup unlocked a new tranche of bailout Cyprus
17.09.2013

Eurogroup unlocked a new tranche of bailout Cyprus

Eurogroup unlocked a new tranche of financial assistance in the amount of Cyprus 1,5 billion euros of 10 billion euros promised to save the country from default. This decision was taken at the end of last week, the first meeting after the summer holidays of eurozone finance ministers.

State budget-2014: changes and reductions
16.09.2013

State budget-2014: changes and reductions

The budget for the year 2014 dramatically changed the method of calculating payments for overtime and shift work of civil servants. This 16 September the head of the Cypriot Ministry of Finance in an interview with Haris Gergiadis state broadcasting company RIC.

Cyprus wants to avoid the complete privatization of SOEs
15.09.2013

Cyprus wants to avoid the complete privatization of SOEs

Cyprus, may not need to fully privatize state-owned enterprises in order to meet the conditions of the stabilization program agreed with the authorities in the face of international lenders EU and the International Monetary Fund / IMF /. This was stated by President of the Republic of Nikos Anastasiadis.

Registered vehicles less
15.09.2013

Registered vehicles less

In the period from January to July 2013 the total number of vehicles registered in Cyprus fell by 35,6%, amounting 10 947 cars, compared with 16 995 the same period last year.

Eurogroup approved the allocation of the next tranche of Cyprus
14.09.2013

Eurogroup approved the allocation of the next tranche of Cyprus

Consideration of the report of the "troika" of international lenders on Cyprus has become a major issue on the agenda of the meeting of the Eurogroup in Vilnius 13 September. Eurozone finance ministers have approved the allocation of the Republic of the next tranche of financial assistance in the amount of 1,5 billion euros.

Russia and Cyprus signed an agreement on debt restructuring
13.09.2013

Russia and Cyprus signed an agreement on debt restructuring

Russia and Cyprus yesterday signed an agreement in Moscow on loan restructuring 2,5 billion euros, which the Russian government has provided at the end of Nicosia 2011 year.

Negotiations on privatization will begin in October
11.09.2013

Negotiations on privatization will begin in October

Discussion of privatization of parastatals: Telecommunications company CyTA, the Electricity Company of Cyprus (EAC) and the Cyprus Ports Authority - will begin shortly.

Cyprus Airways: "Plan B"
11.09.2013

Cyprus Airways: "Plan B"

Guide Cyprus Airways is ready to implement the plan "B", which is a positive step in the right direction. This was stated by 10 September, President Airlines Tonis Antonio, answering questions from journalists at the headquarters in Nicosia, CA.

The board of directors BoC - 6 Russian business representatives
11.09.2013

The board of directors BoC - 6 Russian business representatives

The new board of directors and the largest system for the island's economy Bank of Cyprus six of 16 people - foreigners - namely, representatives of business circles of Russia.

Names of nominees to the Board of Directors BoC published
09.09.2013

Names of nominees to the Board of Directors BoC published

Vank of Surrus published the names 49 nominees to the Board, which include 7 Russian citizens. According to The Moscow Times, "the representatives of Russia are among the contributors, the most affected by the financial crisis, which hit the Cypriot banking system at the beginning of this year."