FINANCE

Ackermann takes helm of Bank of Cyprus

Former Deutsche Bank chief Josef Ackermann has been named the new chairman of bailed-out Cyprus' biggest bank. The shareholders' and board votes on Thursday come after the Bank of Cyprus passed a Euro [...]

BY OPulse Admin
|
Nov 21 2014

Moody's upgrades BoC deposit ratings

Moodys Investors Service has upgraded Bank of Cyprus’ (BoC) long-term deposit ratings to Caa3 from Ca with stable outlook and the provisional senior unsecured programme rating to (P)Caa3 from (P)Ca, [...]

FINANCE
|
BY OPulse Admin
|
Nov 19 2014

Investors Express Interest in Limassol Port Privatisation

International investors have shown significant interest in the privatisation of Limassol Port, Minister of Communications and Works Marios Demetriades revealed yesterday. Commenting on the sidelines o [...]

FINANCE
|
BY OPulse Admin
|
Nov 14 2014

Ministry of Finance Reports €207.6 M Surplus

The Cyprus government has posted a surplus of €207.6 million – or 1.32% of GDP – in the first nine months of the year, compared with a deficit of €411.7 million – or 2.5% of GDP – in the s [...]

FINANCE
|
BY OPulse Admin
|
Oct 31 2014

Standard & Poor’s raises Cyprus credit rating

Ratings agency Standard & Poor’s has raised Cyprus long-term ratings to ‘B+’ and affirmed the short-term foreign and local currency ratings at ‘B’ on strong budgetary performance; the ou [...]

FINANCE
|
BY OPulse Admin
|
Oct 27 2014

BoC Resignations Begin

The Bank of Cyprus (BoC) has announced the resignation of two of its board members this week, Xanthos Vrachas and Konstantinos Katsaros. The resignations will become effective upon their acceptance by [...]

FINANCE
|
BY OPulse Admin
|
Oct 20 2014

New €10 Banknote Enters Circulation

As of today, September 23, a new €10 banknote of the Europa series will enter into circulation, which is described as being more resistant to counterfeiting, and easier to check. “It’s essential [...]

FINANCE
|
BY OPulse Admin
|
Sep 28 2014

Property scam shows ugly face of corruption

It has been a long common secret that if you want anything done with your property, then you need to know the right people, in the right place and have the right amount in your pocket.PERHAPS now is t [...]

FINANCE
|
BY OPulse Admin
|
Sep 25 2014

Wages Record Increase in Eurozone, Decline in Cyprus

Both labour costs and monthly wages increased throughout the Eurozone, data released by the European Union’s statistics agency yesterday revealed, indicating that inflationary pressures in the euroz [...]

FINANCE
|
BY OPulse Admin
|
Sep 22 2014

Supreme Court Commences Debate of Foreclosures Bills

Despite the House of Representatives having passed the bills by a majority on Saturday, September 6, Anastasiades last week referred four pieces of legislation to the Supreme Court, deeming them uncon [...]