03/03/2011 08:12
The major issues in today’s financial press are the downgrading of the Cypriot banks by one-two notches by Moody’s and the increase in the price of fuel due to the unrest in the Arab countries.
The “Economy” inset of newspaper “Phileleftheros” refers to the downgrading of the Cypriot banks by Moody’s. According to the report, the analysts downgraded by two notches the long-term deposits, debt and financial strength of Bank of Cyprus to Baa2/D from A3/C, by one notch the deposits of Marfin to σε Baaa3/Prime-3/D- from Baa2/Prime-2/D+ and the deposits, debts and financial strength of Hellenic Bank to Ba1/Not Prime/D- from Βaa/Prime-2/D.
Elsewhere the newspaper reports that if oil prices continue to surge, the impacts on the economy will be chain.
Other headlines:
- CCCI not concerned about increase in taxation
- Ireland warns about its taxes
- Multi-cultural unemployment in Cyprus
- German, Finnish and Polish in Cyprus
The “Economy” inset of newspaper “Politis” refers to the downgrading of the Cypriot banks by one or two notches by Moody’s. According to the report, their downgrading is mostly attributable to their exposure to the Greek market and the fiscal weakness of the state to support them if this is deemed necessary.
“Politis” also refers to the criticisms of DISY and EDEK against the government for the high rates of unemployment in January.
Other headlines:
- No increase in corporate tax – “No reasons to worry”, CCCI says
- Second alarm – S&P sees possible downgrading in Greece
- Airlines hit – Half profits due to oil
- Appeal against the EU – Aegean – Olympic Air merger
The “Economy” inset of newspaper “Simerini” refers to the increase in the price of oil due to the unrest in the Arab countries. According to Chairman of the Gas Station Owners Association, Stephanos Stephanou, the price of oil and diesel rose by 4 cents per litre yesterday and it will increase further if the turmoil continues.
The newspaper also highlights that CCCI Chairman, Manthos Mavromatis, clarified yesterday that the corporate tax ratio will not increase.
Other headlines:
- Strong criticisms for unemployment – Parties accuse government
- Greece: Warming up for stress tests
- Bad news for domestic tourism in 2010
- New downgrading by Moody’s for CY banks
The “Economy” inset of newspaper “Haravgi” refers to the Labour Minister’s accusations in relation to the criticisms that the government is subject to by the opposition on the rate of unemployment.
“Haravgi” also refers to the participation of Paphos municipality in tourism fairs abroad.
Other headlines:
- Fuel prices sharply up
- Moody’s downgraded CY banks
- CCCI: No reason to worry for corporate tax increase
- Significant losses in the CSE
The “Economy” inset of newspaper “Alithia” refers to the downgrading of the Cypriot banks by Moody’s as a result of the downgrading of the Cyprus economy last week.
Elsewhere the newspaper reports that French bank, BNP Paribas will cease its banking activities in Cyprus.
Other headlines:
- Fuel prices “burn”
- Corporate tax ratio will not increase - CCCI
- Strong criticisms against the government for increasing unemployment
- CY promotion – CTO
The “Economy” inset of newspaper “Phileleftheros” refers to the downgrading of the Cypriot banks by Moody’s. According to the report, the analysts downgraded by two notches the long-term deposits, debt and financial strength of Bank of Cyprus to Baa2/D from A3/C, by one notch the deposits of Marfin to σε Baaa3/Prime-3/D- from Baa2/Prime-2/D+ and the deposits, debts and financial strength of Hellenic Bank to Ba1/Not Prime/D- from Βaa/Prime-2/D.
Elsewhere the newspaper reports that if oil prices continue to surge, the impacts on the economy will be chain.
Other headlines:
- CCCI not concerned about increase in taxation
- Ireland warns about its taxes
- Multi-cultural unemployment in Cyprus
- German, Finnish and Polish in Cyprus
The “Economy” inset of newspaper “Politis” refers to the downgrading of the Cypriot banks by one or two notches by Moody’s. According to the report, their downgrading is mostly attributable to their exposure to the Greek market and the fiscal weakness of the state to support them if this is deemed necessary.
“Politis” also refers to the criticisms of DISY and EDEK against the government for the high rates of unemployment in January.
Other headlines:
- No increase in corporate tax – “No reasons to worry”, CCCI says
- Second alarm – S&P sees possible downgrading in Greece
- Airlines hit – Half profits due to oil
- Appeal against the EU – Aegean – Olympic Air merger
The “Economy” inset of newspaper “Simerini” refers to the increase in the price of oil due to the unrest in the Arab countries. According to Chairman of the Gas Station Owners Association, Stephanos Stephanou, the price of oil and diesel rose by 4 cents per litre yesterday and it will increase further if the turmoil continues.
The newspaper also highlights that CCCI Chairman, Manthos Mavromatis, clarified yesterday that the corporate tax ratio will not increase.
Other headlines:
- Strong criticisms for unemployment – Parties accuse government
- Greece: Warming up for stress tests
- Bad news for domestic tourism in 2010
- New downgrading by Moody’s for CY banks
The “Economy” inset of newspaper “Haravgi” refers to the Labour Minister’s accusations in relation to the criticisms that the government is subject to by the opposition on the rate of unemployment.
“Haravgi” also refers to the participation of Paphos municipality in tourism fairs abroad.
Other headlines:
- Fuel prices sharply up
- Moody’s downgraded CY banks
- CCCI: No reason to worry for corporate tax increase
- Significant losses in the CSE
The “Economy” inset of newspaper “Alithia” refers to the downgrading of the Cypriot banks by Moody’s as a result of the downgrading of the Cyprus economy last week.
Elsewhere the newspaper reports that French bank, BNP Paribas will cease its banking activities in Cyprus.
Other headlines:
- Fuel prices “burn”
- Corporate tax ratio will not increase - CCCI
- Strong criticisms against the government for increasing unemployment
- CY promotion – CTO
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