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 [...]

FINANCE
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BY OPulse Admin
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Apr 11 2016

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 [...]

FINANCE
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BY OPulse Admin
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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
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BY OPulse Admin
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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
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BY OPulse Admin
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Mar 12 2016

Special arrangements for Total in port move

A Monday meeting between the Ministers of Transport and Energy with representatives of energy giants Total, ENI and Noble, culminated in the decision for a technical committee to record the need [...]

MARKET TRENDS
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BY OPulse Admin
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Feb 16 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
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BY OPulse Admin
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Feb 03 2016

Money trail leads to Disy and maybe Akel

Attorney General Costas Clerides has confirmed that a paper trail suggests that Cyprus’ two biggest parties benefited from undeclared financial contributions totaling a combined €1.48 million from [...]

MARKET TRENDS
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BY OPulse Admin
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Jan 28 2016

Politicians increasingly discredited

The rift between citizens and politicians is growing just a few months before the parliamentary elections while at the same time the credibility of independent institutions is enhanced. A new survey [...]

MARKET TRENDS
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BY OPulse Admin
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Jan 25 2016

FBME heading back to court

THE Nicosia district court will next week continue hearing the case brought before it, where the Central Bank of Cyprus (CBC) is seeking to appoint a liquidator for the Cyprus branch of the Federal Ba [...]

MARKET TRENDS
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BY OPulse Admin
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Jan 14 2016

Government generates a 1% fiscal gap in January to November

Overall expenditure rose 2.8 per cent to €5.3bn in the first eleven months of the year compared to the respective period of 2014, the finance ministry said. The rise in spending was on increased cur [...]

MARKET TRENDS
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BY OPulse Admin
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Jan 01 2016