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Crisis losses
08.09.2013

Crisis losses

40 000 more small and medium-sized businesses have lost a total of about one billion euros, which is 6% of GDP. This happened as a result of measures taken by the Government to stabilize the Cypriot economy, in March of this year, according to a European Commission report.

Record unemployment
07.09.2013

Record unemployment

According to a report in September 4 Statistical Service of Cyprus, the number of registered unemployed in August this year reached another record high - 48 451 people.

Adopted laws that provide the second tranche of EU aid
06.09.2013

Adopted laws that provide the second tranche of EU aid

Cyprus Parliament on Thursday made jittery authorities unexpectedly rejected two bills introduced by the government, the adoption of which is a prerequisite for granting the country the second tranche of loan aid from the EU and the IMF amounting 1,5 billion euros.

Candidates for the Board of Directors of Cyprus Vank
06.09.2013

Candidates for the Board of Directors of Cyprus Vank

Became known list of candidates for the Board of Directors of the Vank of Cyprus. According to the Financial Mirror, on 18 places claim a total of 49 people, which was kind of a record in the history of the bank.

Russians will manage the Bank of Cyprus?
05.09.2013

Russians will manage the Bank of Cyprus?

The Board of Directors of Bank of Cyprus (BOC) may enter, at least five Russian citizens. It is also the chair of one of them in the new Council. Elections are scheduled for September 10.

State budget-2014 - without new taxes
04.09.2013

State budget-2014 - without new taxes

The state budget for 2014 year, consideration of which Cabinet began 4 September provides savings of 700 million euros, according to business portal StockWatch.

Bills considered
04.09.2013

Bills considered

The Finance Committee of the Parliament on Tuesday, 3 September, completed a two-day meeting, during which the examination was conducted 14 laws established under the memorandum. They must be approved 5 September plenary session of Parliament.

The second tranche approach
04.09.2013

The second tranche approach

Cyprus is successfully implementing the necessary reforms, thus carrying out their obligations under the credit agreement, and ready to receive the next tranche of economic aid in the amount of 1,5 billion euros to recapitalize the cooperative banks. This was reported by Reuters, citing a preliminary report to the European Commission.

European Commission forecast
03.09.2013

European Commission forecast

As noted in the report of the European Commission, the fall of the Cypriot economy will continue for another two years. So if 2012 year it fell by 2,4%, by the end of this year, these figures would be 8,7%, in the year 2014 - 3,9%. Gradual growth, according to experts, will begin in the year and will be 2015 1,1%.

Parliamentarians hastened
03.09.2013

Parliamentarians hastened

Decision to restructure the cooperative banks in Cyprus must be taken this week. Otherwise, the island could be left without the next tranche of financial assistance from international lenders.

Bailing out banks - the handiwork of creditors
03.09.2013

Bailing out banks - the handiwork of creditors

Problem banks need not save taxpayers and creditors. The principle of "too big to fail" should sink into oblivion, says the head of the Bank of England and Chairman of the Board for Financial Regulation Mark Carney. He's going to use the St. Petersburg meeting G20, to persuade the country to introduce new rules of banking regulation.

Russia restructured loan, but Cyprus still does not return
31.08.2013

Russia restructured loan, but Cyprus still does not return

Russian government approved the terms of restructuring the loan in the amount of Cyprus 2,5 billion euros. According to Deputy Finance Minister Sergei Storchak was previously agreed that the Russian government supported, and it now remains to sign some papers.

Hellenic Vank reported on the outcome
30.08.2013

Hellenic Vank reported on the outcome

Hellenic Vank announced financial results for the first six months of the year 2013. The bank's losses amounted 46,1 million euros compared with 14,9 million euro profit in the same period last year. However, the bank retains a strong position in equity and liquidity.

Shareholders of Bank of Cyprus make demands
30.08.2013

Shareholders of Bank of Cyprus make demands

Archbishop Chrysostomos II 28 August met with old and new shareholders in Bank of Cyprus.

Anastasiadis: the country can return to global markets to 2016 year
30.08.2013

Anastasiadis: the country can return to global markets to 2016 year

Cyprus will return to the financial markets by the end of the anti-crisis program 2016 year. Expressed the hope that today the President of the Republic Nikos Anastasiadis in an interview with the German newspaper "Handelsblatt".

Cyprus will begin to repay debts to Russia 2016 year
30.08.2013

Cyprus will begin to repay debts to Russia 2016 year

Cyprus debt of Russia returns eight equal semi-annual installments starting 2016g., Said Deputy Finance Minister Sergei Storchak. The interest rate was reduced to 2,5%.

Moody's noted progress
30.08.2013

Moody's noted progress

Significant progress notes, the international rating agency Moody's in the economy of Cyprus, Greece, Ireland, Italy, Portugal and Spain - countries located on the "periphery" of the eurozone.

Private deposits in banks in Cyprus in July dropped by almost 1 billion €
29.08.2013

Private deposits in banks in Cyprus in July dropped by almost 1 billion €

From the banking system in Cyprus is continuing outflow of capital four months after the decision of the Eurogroup of forced "haircut" of uninsured deposits.

Results confiscatory reforms Merkel in Cyprus upset U.S.
25.08.2013

Results confiscatory reforms Merkel in Cyprus upset U.S.

Recently, the global media give contradictory assessment of Russian assets in Cyprus after confiscatory reform carried out there at the request of the EU to normalize the financial condition of the banking sector and the island state financial aid.

Bank of Cyprus will become partly Russian
24.08.2013

Bank of Cyprus will become partly Russian

Russian shareholders will be included in its board of directors.

In the struggle for Hellenic Bank
22.08.2013

In the struggle for Hellenic Bank

Church ready to sell their most liquid real estate in order to keep a controlling stake in Hellenic Bank.

Statistics bank card payment
20.08.2013

Statistics bank card payment

In the first seven months of this year the volume of payments by credit cards in Cyprus fell by 9% compared to the same period last year, amounting 1,2 billion euros.

A deadline
15.08.2013

A deadline

The government may again be faced with the need to prompt the adoption of a number of laws in the framework of the memorandum with the "troika".

Cyprus GDP in the second quarter fell by a record 5,4 percent
15.08.2013

Cyprus GDP in the second quarter fell by a record 5,4 percent

Cyprus GDP in the second quarter decreased by 5,4 percent on an annualized basis, excluding seasonal factors. This is the preliminary assessment of Cyprus Statistical Service.

Aliens have returned to the Cyprus property market
14.08.2013

Aliens have returned to the Cyprus property market

In July, Cyprus was sold 354 property (residential, commercial and land) that 13 percent less than the same period last year.

Five accidents in fifteen years. Findings
13.08.2013

Five accidents in fifteen years. Findings

From the experience of Cyprus, is to make a number of lessons that are crucial in determining future investment and economic policy.

Cyprus car sales fell
13.08.2013

Cyprus car sales fell

According to official data, in Cyprus there was the biggest decline in car sales in Europe - 42,7% from January to June.

Restrictions remain
12.08.2013

Restrictions remain

Restrictions on the movement of capital in the Cypriot banking system may be extended until March next year. This follows from the strategic plan, the Treasury promulgated Cyprus last week.

Meeting of shareholders Bank of Cyprus
12.08.2013

Meeting of shareholders Bank of Cyprus

On Friday 9 August it became known that the annual meeting of shareholders will be held on Bank of Cyprus 10 September 16: 00 local time.

Restructuring of the cooperative movement
12.08.2013

Restructuring of the cooperative movement

Central Cooperative Bank of Cyprus has published a list of five new 18-credit institutions that will work after the restructuring currently operating 93-x cooperative banks.

Five accidents in fifteen years
10.08.2013

Five accidents in fifteen years

Despite the fact that Cyprus is a small country with 1999, he had to undergo five major disasters. The collapse of the Cyprus Stock Exchange 1999 year.

The future of Cyprus depends on us
08.08.2013

The future of Cyprus depends on us

Do you have a future in Cyprus as an international financial center after signing a Memorandum of Understanding with the Eurogroup? What areas of activity could be developed? What you need to do to quickly get back on the road to recovery? About it - in our brief survey.

"Privatization" Ercan canceled?
08.08.2013

"Privatization" Ercan canceled?

One of the biggest projects in the occupied territories - the "privatization" of illegal Ercan airport cost 650 million euros - will be canceled for political reasons.

48 001 Unemployed
06.08.2013

48 001 Unemployed

In July, the number of unemployed persons in Cyprus reached 48 001 people. That 31,7% more than in July last year.

Cyprus allocate 17 million euros to rescue Cyprus Airways
06.08.2013

Cyprus allocate 17 million euros to rescue Cyprus Airways

Cypriot authorities allocate 17 million euros to save from bankruptcy the national carrier Cyprus Airways, the local media.

Ministry of Finance: the opening of new accounts
05.08.2013

Ministry of Finance: the opening of new accounts

In 19-m decree of the Ministry of Finance of Cyprus, published 2 August provides relief for opening new accounts in Cypriot banks.

Cyprus Airways is on the verge of bankruptcy
05.08.2013

Cyprus Airways is on the verge of bankruptcy

On the verge of bankruptcy was the largest airline in Cyprus - Cyprus Airways.

Cypriot unemployment reached new heights
03.08.2013

Cypriot unemployment reached new heights

Cypriot unemployment reached new heights in June, reaching historic heights in 17,3%.

Reduction of salaries in the banking institutions
03.08.2013

Reduction of salaries in the banking institutions

On August bank employees supported the proposal of the trade union ETYK and agreed to wage cuts in all banks except Bank of Cyprus (BOC).

Cheaper deposits, loans become more expensive
02.08.2013

Cheaper deposits, loans become more expensive

Interest rates on deposits in recent months, fell by more than 200 basis points, but at the cost of consumer and business loans it has no effect, writes the business portal StockWatch.