15/05/2014 07:22
The major issues in today’s financial press are the 11 charges against the former Central Bank Governor and Finance Minister, Christodoulos Christodoulou, the capital increase that Bank of Cyprus is called to proceed with and the interest of the World Bank for participating in the share capital of BOCY.
The newspaper “Phileleftheros” refers to the first trial for the economic scandal. According to the report, yesterday the Nicosia District Court accused former Central Bank Governor and former Finance Minister, Christodoulos Christodoulou, his daughter and his ex-wife for document forgery, conspiracy, keeping false accounts etc. The charges were 11 and were denied. A new hearing has been set for June 27.
The “Economy” inset of the newspaper reports that Bank of Cyprus is called to proceed with a capital increase. According to sources, the Central Bank urged BOC to proceed with a capital increase of at least up to €500 million and within two months in an attempt to gain from the improved investment climate. The objective is to strengthen the regulatory capital due to an increase in non-performing loans and to gain greater security ahead of the stress tests.
Other headlines:
-New plan for appointment of 1.000 long-term unemployed
-Subsidiaries for management of NPLs – troika
-SYKALA reacts for involvement of EBRD
-Economy and the banks in the pre-electoral campaign
The newspaper “Politis” refers to the 11 charges to former CB Governor and Finance Minister, Christodoulos Christodoulou for the route of €1 million granted by Focus to A. Christodoulou. According to the report, Mr. Christodoulou, his daughter and his ex-wife were accused for committing a felony, false document compilation and circulation of counterfeit document.
The “Economy” inset of the newspaper refers to the interest of the World Bank in participating in the share capital of Bank of Cyprus. This is what DISY President, Averof Neophytou implied yesterday after his meeting with the CB Governor, confirming the involvement of EBRD in Bank of Cyprus.
Other headlines:
-Issue of MIG and Piraeus Bank bonds
-Improvement of money laundering picture – Cyprus
-Incentives plan of €5m for appointment of unemployed
The “Economy” inset of newspaper “Simerini” refers to the contacts of the Finance Minister with the European Bank of Restructuring and Development in Warsaw. According to the report, the decisions will be taken today, after discussing the terms set by EBRD to undertake the management of 185 of Laiki.
The newspaper also reports that the Council of Ministers approved yesterday the new incentives plan for the employment of unemployed.
Other headlines:
-Troika does not accept extension for submission of bill
-Decisions for port and marina in late August
-Draft laws for strategic bankruptcies by M. Kyriakou
The newspaper “Haravgi” highlights that the troika asked for the immediate start of divestitures in the updated memorandum. According to the report, in the updated memorandum all restrictions on divestitures must be lifted, even for the main residence, however the clause for the implementation of the measure by the end of the year has been removed.
The “Economy” inset of the newspaper refers to the incentives plan for the employment of unemployed approved by the Council of Ministers yesterday. The total budget of the plan stands at €5 million and covers the period until June 30, 2016, while the objective is the placement of 1000 unemployed.
Other headlines:
-They examine the constitutionality of the law for privatizations
-FINMIN appeals to EBRD for financing
-Troika: Subsidiaries for NPLs
-AKEL brings back proposal for main residence
The “Economy” inset of newspaper “Alithia” refers to the issue of new capital examined by Bank of Cyprus. According to sources, the bank is considering issuing a new capital of 0.5 billion and the issue will be discussed by the BoD in the next few weeks. Besides, DISY President, Averof Neophytou revealed yesterday that a subsidiary of the World Bank expressed interest in investing in the share capital of the Bank.
Elsewhere the newspaper reports that SYKALA believes that any effort of involvement of EBRD in the management or sale of 18% of Laiki Bank is a mistake.
Other headlines:
-Applications for 6-year government bonds in Paphos
-We received the updated MoU
-Mediation examined by the troika
The newspaper “Phileleftheros” refers to the first trial for the economic scandal. According to the report, yesterday the Nicosia District Court accused former Central Bank Governor and former Finance Minister, Christodoulos Christodoulou, his daughter and his ex-wife for document forgery, conspiracy, keeping false accounts etc. The charges were 11 and were denied. A new hearing has been set for June 27.
The “Economy” inset of the newspaper reports that Bank of Cyprus is called to proceed with a capital increase. According to sources, the Central Bank urged BOC to proceed with a capital increase of at least up to €500 million and within two months in an attempt to gain from the improved investment climate. The objective is to strengthen the regulatory capital due to an increase in non-performing loans and to gain greater security ahead of the stress tests.
Other headlines:
-New plan for appointment of 1.000 long-term unemployed
-Subsidiaries for management of NPLs – troika
-SYKALA reacts for involvement of EBRD
-Economy and the banks in the pre-electoral campaign
The newspaper “Politis” refers to the 11 charges to former CB Governor and Finance Minister, Christodoulos Christodoulou for the route of €1 million granted by Focus to A. Christodoulou. According to the report, Mr. Christodoulou, his daughter and his ex-wife were accused for committing a felony, false document compilation and circulation of counterfeit document.
The “Economy” inset of the newspaper refers to the interest of the World Bank in participating in the share capital of Bank of Cyprus. This is what DISY President, Averof Neophytou implied yesterday after his meeting with the CB Governor, confirming the involvement of EBRD in Bank of Cyprus.
Other headlines:
-Issue of MIG and Piraeus Bank bonds
-Improvement of money laundering picture – Cyprus
-Incentives plan of €5m for appointment of unemployed
The “Economy” inset of newspaper “Simerini” refers to the contacts of the Finance Minister with the European Bank of Restructuring and Development in Warsaw. According to the report, the decisions will be taken today, after discussing the terms set by EBRD to undertake the management of 185 of Laiki.
The newspaper also reports that the Council of Ministers approved yesterday the new incentives plan for the employment of unemployed.
Other headlines:
-Troika does not accept extension for submission of bill
-Decisions for port and marina in late August
-Draft laws for strategic bankruptcies by M. Kyriakou
The newspaper “Haravgi” highlights that the troika asked for the immediate start of divestitures in the updated memorandum. According to the report, in the updated memorandum all restrictions on divestitures must be lifted, even for the main residence, however the clause for the implementation of the measure by the end of the year has been removed.
The “Economy” inset of the newspaper refers to the incentives plan for the employment of unemployed approved by the Council of Ministers yesterday. The total budget of the plan stands at €5 million and covers the period until June 30, 2016, while the objective is the placement of 1000 unemployed.
Other headlines:
-They examine the constitutionality of the law for privatizations
-FINMIN appeals to EBRD for financing
-Troika: Subsidiaries for NPLs
-AKEL brings back proposal for main residence
The “Economy” inset of newspaper “Alithia” refers to the issue of new capital examined by Bank of Cyprus. According to sources, the bank is considering issuing a new capital of 0.5 billion and the issue will be discussed by the BoD in the next few weeks. Besides, DISY President, Averof Neophytou revealed yesterday that a subsidiary of the World Bank expressed interest in investing in the share capital of the Bank.
Elsewhere the newspaper reports that SYKALA believes that any effort of involvement of EBRD in the management or sale of 18% of Laiki Bank is a mistake.
Other headlines:
-Applications for 6-year government bonds in Paphos
-We received the updated MoU
-Mediation examined by the troika
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