11/06/2014 06:58
The major issue in today’s financial press is the return to the international markets that Cyprus will seek in a few weeks with the issue of a bond of €500 million.
The “Economy” inset of newspaper “Phileleftheros” refers to the return to the international markets that Cyprus will seek in a few weeks. As revealed by the President of the Republic last night, the issue of a bond of €500 million will be carried out at the end of June, a year earlier than scheduled. Previously, the Ministry of Finance announced the appointment of Deutsche Bank, Goldman Sachs International, HSBC, UBS Investment Bank and VTB Capital as underwriters to the issue of bonds.
Elsewhere the newspaper refers to the establishment of an organization from September, which sill deal with the problems of the Coop customers.
Other headlines:
-Time slot to Parliament on July 8
-HICP at -0.1%
-50 thousand hours of programming for the reunification
-Changes for the resolution authority
The “Economy” inset of newspaper “Politis” refers to the increased revenues of Cypriot shipping in the second half of 2013. Revenues from ship management amounted to €417 million in the second half of 2013, recording an increase of 3.73% compared with €402 million in the first half of the same year. Based on a CB survey, the contribution of the industry to the Cyprus GDP amounted to 5.1%. Germany is the largest partner of the Cyprus shipping industry as 53% of the payments came from German shipowners.
“Politis” also refers to the “Banking Banana Skins”, a survey that registers the threats in the banking sector.
Other headlines:
-IMF forecasts provoke – Alpha Bank for Greece
-Small steps by the ECB
-Upgrading of Ireland from BBB+ to A- - Standard and Poor’s
-217.000 new job posts – US economy
The newspaper “Simerini” refers to the responsibilities of the state officials for the fiscal collapse to be discussed by the House Institutions’ Committee. The issue was entered by DISY MP, Prodromos Prodromou. As noted, former Finance Minister, Charilaos Stavrakis, the two Central bankers Athanasios Orphanides and Panicos Demetriades as well as two heads of state services will be called to testify.
The “Economy” inset of the newspaper refers to the criticisms of SYKALA against the Finance Minister on the rights of 18% of former Laiki Bank to EBRD. SYKALA criticized Mr. Georgiades that with the assignment of the rights of 18% of former Laiki to EBRD, he handed over the control of Bank of Cyprus to the troika.
Other headlines:
-Deadline until Monday to Financial Commissioner to submit proposals
-Public employees don’t want to pick up the phone
-Georgiou did not appear to his Committee
The “Economy” inset of newspaper “Haravgi” refers to the procedure promoted by the government on the restructuring of loans. As indicated during the House Finance Committee’s talks, the government’s proposal on the new institution of extrajudicial dispute resolutions does not prevent divestitures for the main residence.
“Haravgi” also highlights that the President of the Republic appeared exceptionally optimistic yesterday that the economy is on the way of full recovery and that at the end of the month Cyprus will be able to return to the international markets.
Other headlines:
-AKEL: Since Cyprus can borrow with competitive rates, why is it still tied with the MoU?
-“They handed over BOCY to the troika”
-New flights to and from Larnaca
-State bonds follow downward trend
The “Economy” inset of newspaper “Alithia” refers to the issue of a Cypriot bond at the end of the month – or early July – of €500 million. According to a Finance Ministry announcement, Cyprus assigned to Deutsche Bank, Goldman Sachs International, HSBC, UBS Investment Bank and VTB Capital to organize presentations to investors in Europe for a possible bond issue.
However, at the same time that Cyprus is getting ready to return to the markets, the yield of the 10-year government bond in the secondary market hit a new record low since late 2010. The yield of the 10-year government bond fell on Monday by 12 base points to 4.827% from 4.948% on Thursday.
Elsewhere the newspaper reports that the unification of the electronic systems of former Laiki Bank with the systems of Bank of Cyprus has been completed.
Other headlines:
-Coops: Facilitations in loan repayment
-Role of Cyprus in global shipping important
-BOCY under the control of the troika
The “Economy” inset of newspaper “Phileleftheros” refers to the return to the international markets that Cyprus will seek in a few weeks. As revealed by the President of the Republic last night, the issue of a bond of €500 million will be carried out at the end of June, a year earlier than scheduled. Previously, the Ministry of Finance announced the appointment of Deutsche Bank, Goldman Sachs International, HSBC, UBS Investment Bank and VTB Capital as underwriters to the issue of bonds.
Elsewhere the newspaper refers to the establishment of an organization from September, which sill deal with the problems of the Coop customers.
Other headlines:
-Time slot to Parliament on July 8
-HICP at -0.1%
-50 thousand hours of programming for the reunification
-Changes for the resolution authority
The “Economy” inset of newspaper “Politis” refers to the increased revenues of Cypriot shipping in the second half of 2013. Revenues from ship management amounted to €417 million in the second half of 2013, recording an increase of 3.73% compared with €402 million in the first half of the same year. Based on a CB survey, the contribution of the industry to the Cyprus GDP amounted to 5.1%. Germany is the largest partner of the Cyprus shipping industry as 53% of the payments came from German shipowners.
“Politis” also refers to the “Banking Banana Skins”, a survey that registers the threats in the banking sector.
Other headlines:
-IMF forecasts provoke – Alpha Bank for Greece
-Small steps by the ECB
-Upgrading of Ireland from BBB+ to A- - Standard and Poor’s
-217.000 new job posts – US economy
The newspaper “Simerini” refers to the responsibilities of the state officials for the fiscal collapse to be discussed by the House Institutions’ Committee. The issue was entered by DISY MP, Prodromos Prodromou. As noted, former Finance Minister, Charilaos Stavrakis, the two Central bankers Athanasios Orphanides and Panicos Demetriades as well as two heads of state services will be called to testify.
The “Economy” inset of the newspaper refers to the criticisms of SYKALA against the Finance Minister on the rights of 18% of former Laiki Bank to EBRD. SYKALA criticized Mr. Georgiades that with the assignment of the rights of 18% of former Laiki to EBRD, he handed over the control of Bank of Cyprus to the troika.
Other headlines:
-Deadline until Monday to Financial Commissioner to submit proposals
-Public employees don’t want to pick up the phone
-Georgiou did not appear to his Committee
The “Economy” inset of newspaper “Haravgi” refers to the procedure promoted by the government on the restructuring of loans. As indicated during the House Finance Committee’s talks, the government’s proposal on the new institution of extrajudicial dispute resolutions does not prevent divestitures for the main residence.
“Haravgi” also highlights that the President of the Republic appeared exceptionally optimistic yesterday that the economy is on the way of full recovery and that at the end of the month Cyprus will be able to return to the international markets.
Other headlines:
-AKEL: Since Cyprus can borrow with competitive rates, why is it still tied with the MoU?
-“They handed over BOCY to the troika”
-New flights to and from Larnaca
-State bonds follow downward trend
The “Economy” inset of newspaper “Alithia” refers to the issue of a Cypriot bond at the end of the month – or early July – of €500 million. According to a Finance Ministry announcement, Cyprus assigned to Deutsche Bank, Goldman Sachs International, HSBC, UBS Investment Bank and VTB Capital to organize presentations to investors in Europe for a possible bond issue.
However, at the same time that Cyprus is getting ready to return to the markets, the yield of the 10-year government bond in the secondary market hit a new record low since late 2010. The yield of the 10-year government bond fell on Monday by 12 base points to 4.827% from 4.948% on Thursday.
Elsewhere the newspaper reports that the unification of the electronic systems of former Laiki Bank with the systems of Bank of Cyprus has been completed.
Other headlines:
-Coops: Facilitations in loan repayment
-Role of Cyprus in global shipping important
-BOCY under the control of the troika
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