Cypriot economy is getting ready for the longest recession since the Turkish invasion, ahead of the imposition of tough measures proposed by troika. The sharp decline in public spending by €1...
Deposits fell for the first time after three months in June, according to new Central Bank data, which show that credit expansion hit a record low since the first data available. Official figures...
26/07/2012
Troika’s proposals on the capital securities, the change in the Cooperatives and money laundering proved to be hard to digest, during yesterday’s consultations with the Finance Ministry and the...
25/07/2012
The banking system, the pensions, COLA and the corporate tax are among the issues to be tabled between troika and Finance Minister, Cassos Shiarly and CB Governor, Panicos Demetriades. The meeting...
24/07/2012
Cyprus Popular Bank offers voluntary retirements to 185 employees, as part of its reorganization and under the pressure of the conditions created by the broader financial crisis. According to...
24/07/2012
Britain’s largest bank, HSBC, is facing legal proceedings in the U.S. regarding the sale of property in the occupied territories. Legal documents filed by a group of British investors claim that...
23/07/2012
The Association of Commercial Bank of Cyprus sounded the alarm, stressing that the standardized formulas used by troika for the calculation of capital requirements for banks, might not be in line...
20/07/2012
Cyprus might need €15 billion from the bailout mechanism, Standard & Poor’s reported yesterday. In its report for Cyprus, the agency supported that the combination of banking support and the...
18/07/2012
Central Bank of Cyprus is close to introduce a five-member committee to investigate the conditions that led the two biggest banks of the country to great losses. The committee will be finalized...
17/07/2012
The European Commission has prohibited the payment of interest on securities when a bank is in the process of recapitalization, the government argued today in response to reactions to the decisions...
16/07/2012