MARKET TRENDS

Hellenic Bank sells €145m in NPLs to Norway’s B2Holdings

Hellenic Bank, Cyprus’ third largest lender, said that it agreed to sell Norway’s B2Holdings ASA €145m of loans as part of its strategy to reduce its delinquent loan portfolio. The deal, subject [...]

BY Elena Economou
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Jan 02 2018

Beirut and Nicosia to deepen cooperation, new ambassador says

Lebanon and Cyprus aim to deepen cooperation, according to the new ambassador of Lebanon to Cyprus, Claude El Hajal, who said Nicosia would give assistance to Beirut in the field of exploration and ex [...]

MARKET TRENDS
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BY Elena Economou
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Dec 30 2017

How cryptocurrency has become a legitimate investment option

One of the major concerns about Bitcoin and other cryptocurrencies was whether they would be considered legitimate forms of payment by businesses and other entities. Traditionally, financial instituti [...]

MARKET TRENDS
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BY Elena Economou
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Dec 29 2017

Saipem drillship arrives for exploration in block 6

THE Saipem 12000 deepwater drillship has arrived at the target in block 6 where later this week it is scheduled to commence drilling an exploratory gas well. Energy minister Giorgos Lakkotrypis tweete [...]

MARKET TRENDS
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BY Elena Economou
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Dec 28 2017

Apple faces lawsuits after saying it slows down aging iPhones

Apple Inc defrauded iPhone users by slowing devices without warning to compensate for poor battery performance, according to eight lawsuits filed in various federal courts in the week since the compa [...]

MARKET TRENDS
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BY Elena Economou
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Dec 27 2017

Bitcoin rises 10 pct, recovers from last week’s brutal selloff

Bitcoin extended its recovery in holiday-thinned trading on Tuesday, rising 10 percent to be up more than a third from last week’s lows of below $12,000. Bitcoin, the world’s biggest and best-know [...]

MARKET TRENDS
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BY Elena Economou
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Dec 26 2017

Assumptions for determining fair rent

A valuation report prepared either by a Land Registry valuations’ officer or by a valuer to determine the fair rent of a property situated in a rent control area should consider the assumptions set [...]

MARKET TRENDS
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BY Elena Economou
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Dec 24 2017

Limassol to get first bitcoin embassy

Limassol will get its first bitcoin embassy in early 2018, fintech company Hello Group announced on Friday. The announcement followed the launch of the first bitcoin ATM in Limassol in November. “Th [...]

MARKET TRENDS
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BY Elena Economou
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Dec 23 2017

Cyprus pays €2.5bn into EU budget in 13.5 years, Treasury says

Since May 2004, Capo has received a total of €803m, Anastasiou said. In the first ten months of 2016, the island transferred to the EU a total of €163.3m and received €60.3m back in the form of [...]

MARKET TRENDS
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BY Elena Economou
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Dec 21 2017

Support for the single currency hits record high

Close to three-quarters of respondents are for the euro (74%, +1 percentage point since spring 2017) in the euro area, according to the first results of the autumn Standard Eurobarometer, published to [...]