21/05/2014 07:29
The major issues in today’s financial press are the bill for the allocation of a casino license, the case investigated by the legal service on the possible commission of criminal offences by Andreas Vgenopoulos and the forecasts of the Energy, Commerce, Industry and Tourism Minister, Giorgos Lakkotrypis for the increase in tourist arrivals.
The “Economy” inset of newspaper “Phileleftheros” refers to the bill for the allocation of a casino license. According to the report, on Friday the competent ministerial committee will discuss the details of the law governing the procedure of licensing and operating of resort-style casino in Cyprus, in order to be submitted to Parliament before the end of the month. Meanwhile, many consultations between Cypriot businessmen and well- known foreign firms are made in an effort to enter the game of the deals.
Elsewhere the newspaper reports that the management of Hellenic Bank proceeded with promotions and upgrading of a large number of employees.
Other headlines:
-Clarifications for appointment of lawyers – BOCY
-Commissioner expects staffing to start work
-Data analysis one-way to success
The “Economy” inset of newspaper “Politis” refers to the estimates of the Minister of Commerce, Industry and Tourism, Giorgos Lakkotrypis for the increase in arrivals. In an event organized yesterday at CCCI entitled "Doing Business with CERN", Mr. Lakkotrypis estimated that the visits of tourists in Cyprus, if the performance of traditional markets like Britain is maintained, will record an increase of 5% to 8 % yoy.
“Politis” also reports that Piraeus Bank proceeded with new clarifications in relation to the deal with MIG, stressing that the essence of the transaction was a corporate restructuring, "debt to debt" and "debt to equity”.
Other headlines:
-Investigation for new banking cartel – Action by European Commission against Credit Agricole, HSBC and JP Morgan.
-Losses of 0.93% in the CSE
-ASE recorded big gains
The newspaper “Simerini” refers to the case investigated by the legal service for possible commission of criminal offenses by Andreas Vgenopoulos when he was in the leadership of Laiki Bank. Specifically, the cases investigated against Mr. Vgenopoulos concern the granting of loans, including the write off of confidential loan of €29 million of Delta. They also investigate the possible involvement with other persons in seven cases arising under SEC data for manipulation of stock prices in the banks.
The “Economy” inset of the newspaper refers to the comments from the statement of DISY President, Averof Neophytou that Cyprus may exit the memorandum earlier. According to the report, AKEL and DIKO commented ironically the statement of Averof Neophytou. The Democratic Party responded to Mr Neophytou with a statement by the party President, Nicolas Papadopoulos, who stressed that Cyprus’s exit from the MoU is legally impossible since there is a condition that does not allow the stop of the program before 2016.
Other headlines:
-Old shareholders of BOC started contacts for their assets
-Perdikis: Updated MoU provides for punishment of guilty bankers
-President’s office not interested in legal services in BOC
The “Economy” inset of newspaper “Haravgi” refers to the efforts by Bank of Cyprus to concentrate €0.5 billion by September ahead of the stress tests in October. HSBC, which is the consultant of Bank of Cyprus, proposed to proceed immediately to a capital issue of at least €0,5 billion. However, in order to avoid issuing capital at this stage, the bank has put under the microscope the 30 largest businesses who owe €6 billion.
“Haravgi” also reports that all stores will be dressed in black on Thursday to protest against the continuous extended hours.
Other headlines:
-Exit from…the government’s “manifesto”
-All to the protest against divestitures
-Shocking slump in industry
The “Economy” inset of newspaper “Alithia” refers to the answer of DISY to AKEL and DIKO on whether it is feasible Cyprus to exit the memorandum in 2015. Euro-MP candidate, Stavros Zenios replied to the criticisms stressing that it does not really matter what everyone thinks, what matters is what the data say.
Elsewhere the newspaper reports that DISY President, Averof Neophytou, in his meeting with the Association of old shareholders of BOCY, discussed the way that they will deal with the almost zero value of the shares of 88 thousand existing shareholders of the bank.
Other headlines:
-Proposals of World Bank – KOAP
-Stores in black tomorrow
-Clarifications for Piraeus Bank – MIG agreement
-New framework for certification of persons - SEC
The “Economy” inset of newspaper “Phileleftheros” refers to the bill for the allocation of a casino license. According to the report, on Friday the competent ministerial committee will discuss the details of the law governing the procedure of licensing and operating of resort-style casino in Cyprus, in order to be submitted to Parliament before the end of the month. Meanwhile, many consultations between Cypriot businessmen and well- known foreign firms are made in an effort to enter the game of the deals.
Elsewhere the newspaper reports that the management of Hellenic Bank proceeded with promotions and upgrading of a large number of employees.
Other headlines:
-Clarifications for appointment of lawyers – BOCY
-Commissioner expects staffing to start work
-Data analysis one-way to success
The “Economy” inset of newspaper “Politis” refers to the estimates of the Minister of Commerce, Industry and Tourism, Giorgos Lakkotrypis for the increase in arrivals. In an event organized yesterday at CCCI entitled "Doing Business with CERN", Mr. Lakkotrypis estimated that the visits of tourists in Cyprus, if the performance of traditional markets like Britain is maintained, will record an increase of 5% to 8 % yoy.
“Politis” also reports that Piraeus Bank proceeded with new clarifications in relation to the deal with MIG, stressing that the essence of the transaction was a corporate restructuring, "debt to debt" and "debt to equity”.
Other headlines:
-Investigation for new banking cartel – Action by European Commission against Credit Agricole, HSBC and JP Morgan.
-Losses of 0.93% in the CSE
-ASE recorded big gains
The newspaper “Simerini” refers to the case investigated by the legal service for possible commission of criminal offenses by Andreas Vgenopoulos when he was in the leadership of Laiki Bank. Specifically, the cases investigated against Mr. Vgenopoulos concern the granting of loans, including the write off of confidential loan of €29 million of Delta. They also investigate the possible involvement with other persons in seven cases arising under SEC data for manipulation of stock prices in the banks.
The “Economy” inset of the newspaper refers to the comments from the statement of DISY President, Averof Neophytou that Cyprus may exit the memorandum earlier. According to the report, AKEL and DIKO commented ironically the statement of Averof Neophytou. The Democratic Party responded to Mr Neophytou with a statement by the party President, Nicolas Papadopoulos, who stressed that Cyprus’s exit from the MoU is legally impossible since there is a condition that does not allow the stop of the program before 2016.
Other headlines:
-Old shareholders of BOC started contacts for their assets
-Perdikis: Updated MoU provides for punishment of guilty bankers
-President’s office not interested in legal services in BOC
The “Economy” inset of newspaper “Haravgi” refers to the efforts by Bank of Cyprus to concentrate €0.5 billion by September ahead of the stress tests in October. HSBC, which is the consultant of Bank of Cyprus, proposed to proceed immediately to a capital issue of at least €0,5 billion. However, in order to avoid issuing capital at this stage, the bank has put under the microscope the 30 largest businesses who owe €6 billion.
“Haravgi” also reports that all stores will be dressed in black on Thursday to protest against the continuous extended hours.
Other headlines:
-Exit from…the government’s “manifesto”
-All to the protest against divestitures
-Shocking slump in industry
The “Economy” inset of newspaper “Alithia” refers to the answer of DISY to AKEL and DIKO on whether it is feasible Cyprus to exit the memorandum in 2015. Euro-MP candidate, Stavros Zenios replied to the criticisms stressing that it does not really matter what everyone thinks, what matters is what the data say.
Elsewhere the newspaper reports that DISY President, Averof Neophytou, in his meeting with the Association of old shareholders of BOCY, discussed the way that they will deal with the almost zero value of the shares of 88 thousand existing shareholders of the bank.
Other headlines:
-Proposals of World Bank – KOAP
-Stores in black tomorrow
-Clarifications for Piraeus Bank – MIG agreement
-New framework for certification of persons - SEC
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