Private sector indebtedness still a concern, IMF says

Despite the sizable and sustained improvement in the island’s economy, private sector indebtedness remained high, putting pressure on banks and limiting new lending, the International Monetary Fund [...]

MARKET TRENDS
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BY Elena Economou
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Mar 31 2018

FinMin: Investor interest for Cyprus Cooperative Bank significant

Finance Minister Harris Georgiades has said that investor interest for the Cyprus Cooperative Bank is significant.Georgiades who was replying on Wednesday evening to a question on the [...]

MARKET TRENDS
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BY Elena Economou
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Mar 30 2018

BoC CEO pushes for action on NPLs

The Bank of Cyprus CEO John-Patrick Hourican on Wednesday urged the business community in Cyprus to increase the legal and political pressure to move towards a faster solution to the issue of non-perf [...]

FINANCE
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BY Elena Economou
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Mar 29 2018

Energy programme proceeding as planned, president tells oil and gas forum

Cyprus is promoting three projects that were selected by the European Commission as projects of common interest, because of their benefits to the European energy market, President Nicos Anastasiades s [...]

MARKET TRENDS
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BY Elena Economou
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Mar 28 2018

ECB, ESM, IMF, Commission call on Cyprus to renew reform momentum

he ECB, ESM, IMF and the European Commission call on Cyprus to renew reform momentum, reduce the current level of NPLs through legislation and maintain sound public finances, in a report compiled duri [...]

FINANCE
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BY Elena Economou
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Mar 27 2018

A big find by ExxonMobil would “change the equation” for the region

A big find by ExxonMobil in block 10 of Cyprus’ Exclusive Economic Zone would “change the equation for the region in a big way” former chairman of the Cyprus National Hydrocarbons Company and na [...]

MARKET TRENDS
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BY Elena Economou
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Mar 26 2018

Cyprus, UK sign updated double taxation treaty

Cyprus and the UK on Thursday signed an updated agreement on double taxation avoidance on income and capital, which will contribute to further develop commercial and financial relations between the tw [...]

MARKET TRENDS
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BY Elena Economou
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Mar 23 2018

House Finance Corporation extends loan facilities

The Housing Finance Corporation (HFC) is expanding its low-interest lending activities to household goods, overdrafts, student and medical loans, it announced on Wednesday. The corporation, which has [...]

FINANCE
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BY Elena Economou
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Mar 22 2018

Cyprus to launch new tender for LNG import in April

Cyprus’ Natural Gas Public Company (DEFA) will launch two separate tenders for the import of liquefied natural gas (LNG) this year to facilitate the use of LNG for electricity generation by January [...]

FINANCE
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BY Elena Economou
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Mar 21 2018

Co-op high-tech feature to lure investors

The co-op bank on Monday opened a virtual data room that will be used by potential investors to securely exchange data and analyses, as the lender seeks to reduce the state’s share. The procedure l [...]

FINANCE
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BY Elena Economou
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Mar 20 2018