FINANCE

FBME administrator fires 130 following FinCEN decision

On March 25, FinCEN, a unit of the U.S. treasury, reaffirmed its decision to prohibit U.S. banks from opening or maintaining correspondent accounts of or on behalf of FBME, which it described as a fin [...]

BY OPulse Admin
|
Apr 01 2016

Schulz: Cypriots will not be left alone the day after reunification

European Parliament President Martin Schulz who is due in Cyprus on Monday night has sent the message that Cypriots would not be left alone the day after reunification, and said the EU presented the b [...]

FINANCE
|
BY OPulse Admin
|
Mar 27 2016

Anastasiades: not our problem if EU-Turkey deal in jeopardy over Cyprus

If Cyprus’ veto on opening EU-Turkey chapters jeopardises a deal between Ankara and Brussels to stem the migrant flow, which is due to be finalised next Thursday, it would not be Nicosia’s problem [...]

FINANCE
|
BY OPulse Admin
|
Mar 12 2016

Bank of Cyprus to post 2015 after tax loss of €0.4bn on increased provisions

Bank of Cyprus’s board decided by taking into account the methodologies of existing international financial reporting standards, “to make certain amendments to the assumptions in the bank’s prov [...]

FINANCE
|
BY OPulse Admin
|
Feb 03 2016

DBRS upgrades Cyprus rating by one notch

CREDIT rating service DBRS has upgraded its long-term rating for Cyprus from B (low) to B, it announced on Friday. A press release issued on Friday said the upgrade reflects DBRS’ view that strong f [...]

FINANCE
|
BY OPulse Admin
|
Dec 05 2015

Troika concludes eighth review

Subject to four prior actions, the eighth review of the Cyprus economic adjustment programme has been successfully completed by the troika of the island’s international lenders (IMF, EC, ECB) FINANC [...]

FINANCE
|
BY OPulse Admin
|
Nov 16 2015

Coop bank movement needs another €100m

The cooperative banking movement on Thursday announced it requires some €100 million in taxpayers support to remain viable. The announcement comes just two years after the state’s €1.5 billion c [...]

FINANCE
|
BY OPulse Admin
|
Nov 13 2015

Σε αναμμένα κάρβουνα η κυβέρνηση

Σε αναμμένα κάρβουνα κάθεται η κυβέρνηση ενόψει της σημερινής συνεδρίασης της βουλής, όπου θα τεθεί προς ψήφ� [...]

FINANCE
|
BY OPulse Admin
|
Nov 12 2015

Troika due back in Cyprus November 8 for eighth evaluation

A Troika delegation (IMF, EC, ECB) returns to Cyprus on November 8 for the eighth evaluation of the island`s adjustment programme which ends on March 31, 2016. The Cyprus News Agency said the interna [...]

FINANCE
|
BY OPulse Admin
|
Nov 01 2015

What lies beneath? Truth and lies about the Cyprus economy

We hear a lot about how the new law regarding the packaging and selling of bank loans will finally help in dealing with the enormous problem of non-performing loans in Cyprus. I like to keep an open m [...]