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Anastasiadis meets Draghi
01.07.2013

Anastasiadis meets Draghi

On Wednesday, July 3 will be a meeting between the President of the Republic of Cyprus Nikos Anastasiadis and the head of the European Central Bank, Mario Draghi

The unemployment rate in Cyprus approached 16%
30.06.2013

The unemployment rate in Cyprus approached 16%

The unemployment rate in Cyprus in the first quarter of this year increased by 15,9 percent. This was reported today by the Statistical Office of the Republic.

Cyprus is not bankrupt, assured the Minister of Finance
29.06.2013

Cyprus is not bankrupt, assured the Minister of Finance

The downgrade of Cyprus to "selective default" by international rating agencies - is "a temporary measure of a technical nature," which does not mean that the government of the republic is bankrupt.

S & P Downgrades Cyprus to the level of
29.06.2013

S & P Downgrades Cyprus to 'selective default "

International agency "Standard & Poor" / Standard & Poor's / after "Fitch" / Fitch Ratings / announced on Friday that it lowered the long-term credit rating of Cyprus to the level of "selective default".

No change in the anti-crisis program of Cyprus will not
29.06.2013

No change in the anti-crisis program of Cyprus will not

No change in the anti-crisis program of Cyprus will not. This was stated by ITAR-TASS informed European source in Brussels, where the EU summit ends.

Cypriot Morimoto 20% buys shares
29.06.2013

Cypriot Morimoto buys 20% shares "Vnukovo-Invest"

The Board of Directors' Vnukovo- invest "recommended minority shareholders accept the offer Morimoto Limited;

Cyprus rating was lowered to
29.06.2013

Cyprus rating lowered to "restricted default"

International rating agency Fitch downgraded the credit rating of Cyprus in the local currency from "CCC" to "restricted default". This is stated in the report of the agency.

Hellenic Bank for shipping companies
28.06.2013

Hellenic Bank for shipping companies

Service Center shipping companies "Hellenic Bank" organized reception of the media in which the presentation of the activities and importance of the work of the Centre.

Cyprus Airways asking support
28.06.2013

Cyprus Airways asking support

Cyprus Airlines assure passengers that layoffs that occur in the company, will not affect the smooth operation of the airline anyway.

Cyprus may again become an international financial center
28.06.2013

Cyprus may again become an international financial center

The reason for the banking crisis in Cyprus is the lack of a uniform national policy for the financial sector in an environment where he grew up as a "yeast", and the government did not want to interfere until it generates income.

Of banks in Cyprus in May was derived 1,4 billion euros
28.06.2013

Of banks in Cyprus in May was derived 1,4 billion euros

The total amount of deposits in the banking system in Cyprus fell in May 1,442 billion euros, or 2,6 percent, and was at the end of last month 55,9 billion euros.

Cyprus prolonged domestic bonds on 1 billion €
28.06.2013

Cyprus prolonged domestic bonds on 1 billion €

Cyprus announced today the extension of local bonds on 1 billion euros, adding that it is part of the agreement

Cyprus EU Stabilization Fund provided the first tranche of aid
27.06.2013

Cyprus EU Stabilization Fund provided the first tranche of aid

The European Stability Mechanism / ESM - EU stabilization fund / translated Cyprus today 1 billion euros, completing the first tranche of aid provision in the amount of 3 billion euros.

Cyprus. Reference taxation 2013
26.06.2013

Cyprus. Reference taxation 2013

Handbook of taxation - a useful tool for all companies and individuals who wish to obtain relevant information on the conditions of taxation in Cyprus.

Financial Ombudsman starts work
26.06.2013

Financial Ombudsman starts work

Cyprus finally appears ombudsman for financial matters. 25 June, it became known that the post was appointed Pavlos Ioannou. He will assume his duties with 1 of July.

90% of Cypriot companies paid special tax
26.06.2013

90% of Cypriot companies paid special tax

Phileleftheros newspaper claims that only 10% of companies registered in Cyprus, the recently introduced tax paid in euros 350.

Cyprus and Malta have surpassed Russia to increase inflation in May
26.06.2013

Cyprus and Malta have surpassed Russia to increase inflation in May

Among European countries, inflation in May 2013g. higher than in the Russian Federation only in Cyprus and Malta. This is according to Rosstat, which refers to Eurostat and the national statistical services.

Cyprus is not going to renew the agreement with the EU and IMF
26.06.2013

Cyprus is not going to renew the agreement with the EU and IMF

Cyprus is going to put on this week's upcoming EU summit on the need to address a number of practical problems

Cyprus fell hourly wage
25.06.2013

Cyprus fell hourly wage

Hourly labor costs in Cyprus fell for the first three months of the year, according to the EU.

Scandal 4 billion
25.06.2013

Scandal 4 billion

Banking system in Cyprus has lost at least 4 billion euros as a result of the merger of Greek banks Marfin Egnatia not acting more Cyprus Popular Bank (Laiki).

New companies less
24.06.2013

New companies less

According to the Cyprus Registrar of Companies in May of this year the number of applications for the registration of new companies has decreased by 60%.

23.06.2013

"Troika" should alleviate conditions for the consolidation of the state budget

President of the Republic of Cyprus Nikos Anastasiadis considers necessary mitigation "troika" of international lenders

Cyprus diplomatic mission refutes money laundering
22.06.2013

Cyprus diplomatic mission refutes money laundering

The island of Cyprus is not a "haven for money laundering dubious origin" and banks operating there respect international laws and follow them around.

In July
21.06.2013

In July, "Troika" rate as Cyprus fulfills the obligations

The first assessment of the implementation of anti-crisis program Cyprus conditions agreed in late March with the "troika" of international lenders

Cyprus and Russia agree on the restructuring of the loan until the autumn
21.06.2013

Cyprus and Russia agree on the restructuring of the loan until the autumn

Russia and Cyprus until September 2013g. can finalize the restructuring of the Russian loan 2,5 billion euros issued by the island nation in 2011g

Until the end, the Bank of Cyprus will be massive layoffs
20.06.2013

Until the end, the Bank of Cyprus will be massive layoffs

Bank of Cyprus until the end of this year, about 2,5 thousand dismiss their employees. This was announced today interim chairman of the largest credit institution Mihaelidis Sophocles.

Cyprus is obliged to fulfill the terms of the agreement with the EU and IMF
20.06.2013

Cyprus is obliged to fulfill the terms of the agreement with the EU and IMF

Media reports that the Cypriot government wants to renegotiate the agreement with the Eurogroup on the assistance program "does not correspond to reality."

EU does not intend to revise the terms of assistance to Cyprus
19.06.2013

EU does not intend to revise the terms of assistance to Cyprus

The EU does not intend to revise the terms of financial assistance to Cyprus, as requested by the President Nikos Anastasiadis, Reuters reported citing senior European officials.

Cyprus requests a review of requirements for granting aid
19.06.2013

Cyprus requests a review of requirements for granting aid

Cyprus President asked eurozone leaders to renegotiate the terms allocation in the amount of aid to the country 10 billion euros, as Cyprus is likely to not be able to meet them.

Restructuring of the Bank of Cyprus completed before the end of July
19.06.2013

Restructuring of the Bank of Cyprus completed before the end of July

Interim Board of Directors of Bank of Cyprus is in the process of restructuring, and the union of bank employees today reached agreement on the gradual reduction to 30 percent salary of all employees.

Decision to restructure the Bank of Cyprus illegally?
18.06.2013

Decision to restructure the Bank of Cyprus illegally?

Legally recognize the illegal decision on the introduction of external management at the Bank of Cyprus

Cyprus and Russia are negotiating a debt restructuring
17.06.2013

Cyprus and Russia are negotiating a debt restructuring

Cyprus a few weeks ago sent a letter to Russia to restructure its debt, negotiations are at an early stage, said the Russian Sherpa "Group of Eight" Alexei kvass.

In Cyprus, the lowest inflation in the European Union
16.06.2013

In Cyprus, the lowest inflation in the European Union

Cyprus, Greece and Latvia showed the lowest annual inflation rate in the euro zone in May 2013 year, according to data released Friday by Eurostat, the Statistical Office of the European Union.

Cyprus and Portugal may also lose the status of developed countries
14.06.2013

Cyprus and Portugal may also lose the status of developed countries

It is known that Greece was excluded from the index developed countries. Agency MSCI World, which publishes stock indices and ratings of economic development of the world, downgraded the country to the index "emerging market."

In Marfin Bank changed its management
13.06.2013

In Marfin Bank changed its management

Chairman of the Supervisory Board of Marfin Bank appointed Panayiotis Neocleous instead Miltiadesa Mihaelasa, - says the official report of the bank with reference to the decision of the general meeting of shareholders in June 11.

President requests to remove control over banking operations
12.06.2013

President requests to remove control over banking operations

Cyprus President Nikos Anastasiadis appealed to EU partners and the IMF to revise a number of ill-considered decisions on the restructuring of the banking sector of the country

Bank of Cyprus plans to cut staff salaries
12.06.2013

Bank of Cyprus plans to cut staff salaries

Is in the process of restructuring the Bank of Cyprus is trying to negotiate with the unions on the level of reduction of the employee's salary and size of severance benefits for those who accept early retirement.

Reducing trade deficits and credit growth
11.06.2013

Reducing trade deficits and credit growth

Cyprus trade deficit fell to 839,9 million euros in January-March this year with 1076 million euros in the first quarter 2012 year, reported the Cyprus Statistical Office / CYSTAT /.

Cypriot crisis - Russian banks
10.06.2013

Cypriot crisis - Russian banks

Cyprus crisis has brought the Russian banks more 100 billion.

KPMG audits
10.06.2013

KPMG audits

Central Bank of Cyprus commissioned audit company KPMG London to conduct an independent assessment of the assets and liabilities of Bank of Cyprus and the Cyprus Popular Bank (Laiki).