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The Bank of Cyprus appointed interim board of directors
27.04.2013

The Bank of Cyprus appointed interim board of directors

Cyprus Central Bank announced today the appointment of an interim board of directors of the largest on the island of the Bank of Cyprus, which is being restructured in accordance with the decision of the Eurogroup.

Downturn in the economy of Cyprus reaches 12 percent in the current year
27.04.2013

Downturn in the economy of Cyprus reaches 12 percent in the current year

Cypriot economy will shrink this year for 9-12 percent because of the decision of the Eurogroup of forced cancellation of uninsured bank deposits.

Bank of Cyprus has decided to sell "Uniastrum Bank" founders
27.04.2013

Bank of Cyprus has decided to sell "Uniastrum Bank" founders

Bank of Cyprus, in the possession of the 80% stake "Uniastrum Bank"

Development prospects
27.04.2013

Development prospects

At the end of last week, there was once two important events: the Cyprus Parliament voted overwhelmingly voted for four of the six laws

Cyprus budget deficit declined in the year to 2012 6,3 percent of GDP
26.04.2013

Cyprus budget deficit declined in the year to 2012 6,3 percent of GDP

Cyprus budget deficit totaled 2012 6,3 percent of GDP / about 1,13 billion euros / decreased by 1,1 percent point compared with the results of 2011, reports today the Statistical Service of Cyprus.

The European Commission will allocate additional Cyprus 21 million euros
26.04.2013

The European Commission will allocate additional Cyprus 21 million euros

European Commission decided to provide additional Cyprus 21 million euros to help the country cope with the current economic and social crisis.

Of Cypriot banks were withdrawn in March 1,8 billion euros
26.04.2013

Of Cypriot banks were withdrawn in March 1,8 billion euros

Savers Cypriot banks had to withdraw 1,8 billion euros from their accounts in March, when the Eurogroup decided "haircut" of deposits as a condition of release of loan aid the island nation.

Banks received from the Central Bank of Cyprus emergency loans 11,4 billion €
26.04.2013

Banks received from the Central Bank of Cyprus emergency loans 11,4 billion €

Amounts in 11,4 billion euro reached the end of March this year, the size of emergency loans to banks by the Central Bank of Cyprus island nation euro zone.

Cyprus Foreign Minister: Russia has helped more than the entire European Union
26.04.2013

Cyprus Foreign Minister: Russia has helped more than the entire European Union

In Britain, where today to discuss ways to stabilize the economic situation in Cyprus, the Minister of Foreign Affairs of the State Ioannis Kasoulides.

Terms of lifting the restrictions for foreign banks
26.04.2013

Terms of lifting the restrictions for foreign banks

Foreign clients operating in Cyprus foreign banks will have access to your accounts and be able to transfer funds abroad subject to certain conditions.

Cyprus Ministry of Finance is ready to lift restrictions on foreign banks
26.04.2013

Cyprus Ministry of Finance is ready to lift restrictions on foreign banks

Cyprus Ministry of Finance published a decree that allows you to bring in the country are foreign financial institutions from the application of measures restricting banking operations.

Speaker of the Parliament of Cyprus in July will pay a visit to Moscow
26.04.2013

Speaker of the Parliament of Cyprus in July will pay a visit to Moscow

Speaker of the Parliament of the Republic of Cyprus Yiannakis Omirou visit Russia on an official visit.

Cypriot authorities allowed to take out with them abroad 3 thousand euros
26.04.2013

Cypriot authorities allowed to take out with them abroad 3 thousand euros

Central Bank of Cyprus and the Ministry of Finance today announced further easing measures to restrict the movement of capital.

Central Bank of Cyprus decided to release from the constraints of foreign banks
26.04.2013

Central Bank of Cyprus decided to release from the constraints of foreign banks

Central Bank of Cyprus took a step toward the withdrawal of foreign banks from the application of measures to restrict the movement of capital.

Operation
25.04.2013

Operation "Cyprus"

In a short time these offshore companies in Europe will not.

Cyprus Parliament will discuss the agreement with creditors 30 April
25.04.2013

Cyprus Parliament will discuss the agreement with creditors 30 April

Cyprus Parliament at a meeting next Tuesday, 30 April to discuss and make a vote on the terms of a memorandum of anti-crisis program and the loan agreement with the EU and the IMF in the amount of 10 billion euros.

Russians almost a third of the money belongs to the Cypriot banks
25.04.2013

Russians almost a third of the money belongs to the Cypriot banks

Cyprus Foreign Minister Ioannis Kasoulides, located in the UK, where holds consultations, said that "the dimensions of presence of Russian money into the banking system in Cyprus is generally overstated."

Agreed a new bill on real estate tax
25.04.2013

Agreed a new bill on real estate tax

The Government of Cyprus has agreed a new draft law on real estate tax in accordance with the requirements of lenders.

VTB will take care of those who took in Cyprus
25.04.2013

VTB will take care of those who took in Cyprus

VTB Bank is considering the possibility of transferring a part of the loan portfolio in Cyprus in other subsidiaries located abroad.

European Stabilization Fund approved financial assistance to Cyprus
25.04.2013

European Stabilization Fund approved financial assistance to Cyprus

The Governing Council of the European Stability Mechanism / ECM / decided today to allocate financial assistance to Cyprus.

Hellenic Bank lowered rating
24.04.2013

Hellenic Bank lowered rating

International agency Fitch Ratings downgraded the long-term and short-term issuer default rating of Hellenic Bank from "B" to «RD» (Restricted Default)

Cyprus reduce rates on deposits in banks
24.04.2013

Cyprus reduce rates on deposits in banks

Yield of deposits in banks in Cyprus will be reduced. Decision to reduce interest rates on deposits were made at the meeting of the Central Bank of Cyprus Panicos Demetriades with representatives of commercial banks island.

Salvatore Rossi: Crisis in Cyprus - a unique case
24.04.2013

Salvatore Rossi: Crisis in Cyprus - a unique case

"The crisis in Cyprus - a unique case. There size of the banking sector in 7 times the size of GDP.

Golovnin: The biggest loss of Cyprus - a loss of confidence
24.04.2013

Golovnin: The biggest loss of Cyprus - a loss of confidence

What is going through a metamorphosis paradigm of the global economy, who will help Cyprus cope with the banking crisis

How to save money from Cyprus: the number of options grows
24.04.2013

How to save money from Cyprus: the number of options grows

Customers of Cypriot banks face a difficult choice: or without much hope to seek justice in court, or to resort to expensive middlemen.

Investment 'ambassadors' of Cyprus
24.04.2013

Investment 'ambassadors' of Cyprus

A number of well-known Anglo-Cypriots, including businessmen, financiers and sponsors who agreed to become "ambassadors" of Cyprus and contribute to attracting inward investment from the UK and Europe.

The Supreme Court of Cyprus started Appeals
23.04.2013

The Supreme Court of Cyprus started Appeals

Cyprus Supreme Court began its consideration of appeals against the decision to "haircut" of deposits in the two largest banks.

Schultz criticized the decision of the Eurogroup on Cyprus
23.04.2013

Schultz criticized the decision of the Eurogroup on Cyprus

European Parliament President Martin Schulz, who is planning to take up the post of President of the European Commission, criticized the decision taken by the Eurogroup for the Republic of Cyprus

Wolfgang Schaeuble: "Cypriot banks - an example to follow"
23.04.2013

Wolfgang Schaeuble: "Cypriot banks - an example to follow"

In an interview with the German magazine "Wirtschaftswoche", Finance Minister of Germany, Wolfgang Schaeuble said

Putin:
23.04.2013

Putin: "The EU is undermining confidence in the financial system of Cyprus"

Extraordinary actions of the European Union, Cyprus will have mixed long-term consequences: Vladimir Putin.

President: Cyprus was used as a guinea pig
23.04.2013

President: Cyprus was used as a guinea pig

Cyprus was used as "guinea pigs to test the application of economic theory" haircuts "bank deposits".

Court of Justice of Cyprus 53 consider action against restructuring
23.04.2013

Court of Justice of Cyprus 53 consider action against restructuring

Supreme Court of Cyprus on Tuesday, 23 April begin reviewing applications of local citizens and foreigners with a request to cancel the decision to write off part of the deposits in local banks and their restructuring.

"Haircut" deposits can affect other EU countries
23.04.2013

"Haircut" deposits can affect other EU countries

The President of the Republic of Cyprus Nikos Anastasiadis gave Monday assessment decision of the Eurogroup of the forced large depositors banks to finance anti-crisis program.

U.S. investment fund estimated losses to depositors in Cyprus 14 billion €
22.04.2013

U.S. investment fund estimated losses to depositors in Cyprus 14 billion €

Losses of investors in the two largest banks in Cyprus - Laiki and Bank of Cyprus - can make 14 billion euros, and capitalization required 7,8 billion euros, according to experts of the American investment fund Pimco, one of the largest in the world.

Loss of large depositors can be reduced to 40-45%
22.04.2013

Loss of large depositors can be reduced to 40-45%

Adopted by the Central Bank of Cyprus, the decision to a sharp reduction in companies and organizations, which will be made an exception to the "haircut" of their deposits

On the island will be built LNG terminal
22.04.2013

On the island will be built LNG terminal

Cyprus will introduce tax incentives to build LNG and open casinos to restore economic growth.

Cyprus decided to subject
22.04.2013

Cyprus has decided to subject the "haircut" deposits of insurance companies

Central Bank of Cyprus has decided to significantly reduce the number of organizations and companies, which will be made for exceptions to the cancellation of their deposits within the consolidation of the assets of two leading banks in the country.

Soon to be announced interim board of directors of the Bank of Cyprus
21.04.2013

Soon to be announced interim board of directors of the Bank of Cyprus

Interim Board of Directors of Bank of Cyprus will be appointed at the beginning of the upcoming week.

New Signals
21.04.2013

New signals for "Russian offshore aristocracy"

Interviews EU Commissioner Algirdas Semeta taxes.

Estonian opposition did not support the aid package to Cyprus
21.04.2013

Estonian opposition did not support the aid package to Cyprus

Today, 18 April, the largest opposition faction of the Estonian Centre Party voted in parliament against a package of assistance to Cyprus.