02/07/2014 07:26
The major issue in today’s financial press is the new letter sent by CB Governor, Chrystalla Georghadji to Chairman of Bank of Cyprus for the immediate promotion of the capital issue.
The “Economy” inset of newspaper “Phileleftheros” refers to the new letter sent by CB Governor, Chrystalla Georghadji to Chairman of Bank of Cyprus, asking for the immediate promotion of the capital issue with €1 billion as a minimum limit. As noted, Mr. Georghadji gave a deadline until Friday for the decisions to be taken, while she set a deadline for the completion of the procedure until August 8, 2014.
Elsewhere the newspaper reports that according to Central Bank data, house prices in the first quarter of 2014 fell by 2.7% against a decline of 2.6% in the fourth quarter of 2013.
Other headlines:
-Campaign for work in conditions of heat
-Parties worry about BOCY – Criticisms against govt.
-IRD sees a gap in power
The newspaper “Politis” refers to the incentives prepared by the government for the issue of title deeds. The Interior Minister told the Parliament yesterday that the reduction of the transfer duties up to 50% is promoted as an incentive. Today, around 28 thousand titles are pending.
The “Economy” inset of the newspaper refers to the second letter sent to the Chairman of the Board of Directors of Bank of Cyprus by the CB Governor, Chrystalla Georghadji. In her letter, Mrs. Georghadji requested the change of the bank’s decision in order to become more specific in relation to the share capital increase.
Other headlines:
-Approval of transaction of €61.9m – Shacolas Group
-Property prices at 2006 levels
-Fewer bounced cheques
-Restructuring of €12bn – Significant number of loans restructured, banks say
The newspaper “Simerini” refers to the new letter sent by CB Governor, Chrystalla Georghadji to Bank of Cyprus, asking for the immediate implementation of its proposals as to the time and way that the share capital will increase. Mrs. Georghadji put on the Board stranglehold schedule of three days to confirm what she calls for the share capital increase. The letter requested all original schedules for the issue of capital to be met, the amount of new funds that will be absorbed to amount to at least €1 billion and the maximum clawback of the capital issue not to exceed 20%.
The “Economy” inset of the newspaper refers to the Finance Minister’s answer for the intervention of the Central Bank to banking issues. Mr. Georgiades said that the lessons of the past lead to the conclusion that the banks and the bankers should not be left without control by the supervisory authority.
Other headlines:
- Law on unjust enrichment of public officials not implemented
-Prices at 2006 level in 2014 – Reduction in house prices
-Govt. satisfied by positive comments of Moody’s
-Third bond
The newspaper “Haravgi” refers to the House Commerce Committee’s session, which was informed by the Energy Minister on the natural gas liquefaction terminal. As noted, the government’s hopes to make the terminal viable are deposited on the findings of the exploratory drillings to be carried out by ENI in blocks 2,3 and 9 of the Cyprus EEZ.
The “Economy” inset of the newspaper highlights that the CB circular violates the equality principle in the Coops. Specifically, with a circular sent by the Central Cooperative Bank addressed to the Chairman and the members of the guardianship, it was stressed that any decisions will be taken on conditions.
Other headlines:
-Yes, the poor will subsidize the poorer
-Restructuring of loans of €12bn
-Profits of €15m for Coop Central Bank
The newspaper “Alithia” refers to the new letter sent by the CB Governor to the BoD of Bank of Cyprus. Mrs. Georgadji urged the Board to hasten the procedures for the capital issue within three days.
The “Economy” inset of the newspaper refers to the Central Bank data on property prices in the first quarter of 2014. According to them, the house price index recorded a quarterly decrease of 2.7% against a decease of 2.6% in the fourth quarter of 2013.
Other headlines:
-Disposal of shares to CTC-ARI approved
-Bounced cheques of €1.52m
-Unemployment declined further
-Third series of bond issued
The “Economy” inset of newspaper “Phileleftheros” refers to the new letter sent by CB Governor, Chrystalla Georghadji to Chairman of Bank of Cyprus, asking for the immediate promotion of the capital issue with €1 billion as a minimum limit. As noted, Mr. Georghadji gave a deadline until Friday for the decisions to be taken, while she set a deadline for the completion of the procedure until August 8, 2014.
Elsewhere the newspaper reports that according to Central Bank data, house prices in the first quarter of 2014 fell by 2.7% against a decline of 2.6% in the fourth quarter of 2013.
Other headlines:
-Campaign for work in conditions of heat
-Parties worry about BOCY – Criticisms against govt.
-IRD sees a gap in power
The newspaper “Politis” refers to the incentives prepared by the government for the issue of title deeds. The Interior Minister told the Parliament yesterday that the reduction of the transfer duties up to 50% is promoted as an incentive. Today, around 28 thousand titles are pending.
The “Economy” inset of the newspaper refers to the second letter sent to the Chairman of the Board of Directors of Bank of Cyprus by the CB Governor, Chrystalla Georghadji. In her letter, Mrs. Georghadji requested the change of the bank’s decision in order to become more specific in relation to the share capital increase.
Other headlines:
-Approval of transaction of €61.9m – Shacolas Group
-Property prices at 2006 levels
-Fewer bounced cheques
-Restructuring of €12bn – Significant number of loans restructured, banks say
The newspaper “Simerini” refers to the new letter sent by CB Governor, Chrystalla Georghadji to Bank of Cyprus, asking for the immediate implementation of its proposals as to the time and way that the share capital will increase. Mrs. Georghadji put on the Board stranglehold schedule of three days to confirm what she calls for the share capital increase. The letter requested all original schedules for the issue of capital to be met, the amount of new funds that will be absorbed to amount to at least €1 billion and the maximum clawback of the capital issue not to exceed 20%.
The “Economy” inset of the newspaper refers to the Finance Minister’s answer for the intervention of the Central Bank to banking issues. Mr. Georgiades said that the lessons of the past lead to the conclusion that the banks and the bankers should not be left without control by the supervisory authority.
Other headlines:
- Law on unjust enrichment of public officials not implemented
-Prices at 2006 level in 2014 – Reduction in house prices
-Govt. satisfied by positive comments of Moody’s
-Third bond
The newspaper “Haravgi” refers to the House Commerce Committee’s session, which was informed by the Energy Minister on the natural gas liquefaction terminal. As noted, the government’s hopes to make the terminal viable are deposited on the findings of the exploratory drillings to be carried out by ENI in blocks 2,3 and 9 of the Cyprus EEZ.
The “Economy” inset of the newspaper highlights that the CB circular violates the equality principle in the Coops. Specifically, with a circular sent by the Central Cooperative Bank addressed to the Chairman and the members of the guardianship, it was stressed that any decisions will be taken on conditions.
Other headlines:
-Yes, the poor will subsidize the poorer
-Restructuring of loans of €12bn
-Profits of €15m for Coop Central Bank
The newspaper “Alithia” refers to the new letter sent by the CB Governor to the BoD of Bank of Cyprus. Mrs. Georgadji urged the Board to hasten the procedures for the capital issue within three days.
The “Economy” inset of the newspaper refers to the Central Bank data on property prices in the first quarter of 2014. According to them, the house price index recorded a quarterly decrease of 2.7% against a decease of 2.6% in the fourth quarter of 2013.
Other headlines:
-Disposal of shares to CTC-ARI approved
-Bounced cheques of €1.52m
-Unemployment declined further
-Third series of bond issued
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