FINANCE

Moody’s expects real estate recovery

Cypriot banks will benefit from improved construction activity and the expected recovery in demand for new properties, according to Moody's. Last Thursday, the Statistical Service of Cyprus released [...]

BY Elena Economou
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Jul 13 2017

New legislation for housing loans

New legislation was put into force in May regarding the granting of housing loans to consumers, bringing Cyprus in line with an EU Directive, introducing a number of regulations and obligations upon c [...]

FINANCE
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BY Elena Economou
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Jul 03 2017

Moody's upgraded BOCH

Moody`s Investors` Service has upgraded Bank of Cyprus Public Company Limited`s (BoC`s) long-term local and foreign currency deposit ratings to Caa1 from Caa2 and its Provisional Senior Unsecured EMTN [...]

FINANCE
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BY Elena Economou
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Jun 26 2017

Cyprus issues €850-million bond

Cyprus issued on Tuesday a 7-year EMTN bond amounting to 850 million euros, according to a lead managers press release. The coupon was set to 2.7% and the yield to 2.8%, the release added. Total bid [...]

FINANCE
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BY Elena Economou
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Jun 22 2017

The CEB stands ready to financially support a solution of the Cyprus problem

Governor of the Council of Europe Development Bank (CEB) Rolf Wenzel said that there’s a clear consensus by international financial institutions that the benefits of a solution in the Cyprus problem [...]

FINANCE
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BY Elena Economou
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Jun 19 2017

Russian involvement in Cyprus energy ‘will be beneficial’ to all

CYPRUS supports involvement of Russian companies in its energy market, the Cypriot ambassador to Russia has said. Ambassador George Kasoulides told Sputnik: “As far as the energy sector is concerned [...]

FINANCE
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BY OPulse Admin
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Feb 16 2017

BOC contests court ruling banning application of new foreclosure law

In its September 12 ruling concerning a 2007 mortgage deal, the court ruled that Bank of Cyprus had to proceed to the foreclosure of the property based on a 2006 court order and had therefore no right [...]

FINANCE
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BY OPulse Admin
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Sep 23 2016

PDMO to buy back €258m in government bonds

The offer applies to the bonds with the serial number CY0049570811, CY0049630813, CY0143830814 and CY0143790810, the PDMO said. All securities, which carry an annual interest rate ranging from 4.75 pe [...]

FINANCE
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BY OPulse Admin
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Aug 30 2016

FBME workers call off strike after renegotiating new deal

The decision followed a re-negotiation of a previous agreement by the striking workers and their colleagues who were dismissed in March, with the Central Bank of Cyprus’s Resolution Authority leadin [...]

FINANCE
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BY OPulse Admin
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May 09 2016

FBME says activiation of deposit scheme ‘designed to protect CBC, not depositors’

FBME Bank said on Sunday that the Central Bank of Cyprus (CBC) had triggered the deposit guarantee scheme so that the supervisory body could claim to have fulfilled its duties to depositors “and eva [...]