BusinessMail

• Dealing with Private Debt and NPLds: A Comprehensive Blueprint

  2 weeks ago Business Mail

  By Renos Ioannides* The excessive private debt burden of households and businesses and the stubbornly high levels of non-performing loans are...

• J&P Overseas workers in Saudi Arabia complain about being unpaid for months

  2 weeks ago Business Mail

  By Stelios Orphanides J&P Overseas, a subsidiary of Cyprus’s construction industry flagship Joannou & Paraskevaides Group is...

• Central Bank profit falls to €49.5m in 2017

  2 weeks ago Business Mail

  By Stelios Orphanides The Central Bank of Cyprus said it generated last year a profit of €49.5 million compared with a profit of €74.2m in...

• Government generates €251m surplus in first two months

  2 weeks ago Business Mail

  By Stelios Orphanides The government generated a fiscal surplus of €250.6m on a cash basis in the first two months of the year compared to a...

• Current account deficit at €1.3bn of 6.7% of GPD in 2017

  2 weeks ago Business Mail

  By Stelios Orphanides Cyprus last year generated a current account deficit of €1.3bn, or 6.7 per cent of economic output, compared to a...

• Government to address Co-op depositor concerns with symbolic gesture

  2 weeks ago Business Mail

  By Stelios Orphanides Finance minister Harris Georgiades said that the government intends to take symbolic action to assure Cyprus Cooperative...

• Co-op recipient of considerable investor interest

  3 weeks ago Business Mail

  By Stelios Orphanides The Cyprus Cooperative Bank said that it received a “considerable number” of applications expressing interest in buying...

• Chairman of Maltese Pilatus Bank pleads not guilty to U.S. charges

  3 weeks ago Business Mail

  By Brendan Pierson The Iranian chairman of a Maltese bank on Wednesday pleaded not guilty to U.S. charges that he took part in a scheme to...

• Aegean orders 42 A320 for $5bn, Greece’s largest investment

  3 weeks ago Business Mail

  PRESS RELEASE AEGEAN announces that, following the completion of tender process, it is proceeding with the signing of a Memorandum of...

• Co-op says expression of interest “satisfactory” as deadline expires today

  3 weeks ago Business Mail

  By Stelios Orphanides Co-op bank executives on Thursday expressed satisfaction over investor interest, as the deadline for the expression of...

• Deposits fall in February as banks extend fresh credit

  3 weeks ago Business Mail

  By Stelios Orphanides Bank deposits fell by €29.2m to €48.7bn in February in a month while lenders extended €41.2m in fresh lending increasing...

• Justice minister says Interpol withdrew warrant against Efimova

  3 weeks ago Business Mail

  By Stelios Orphanides Justice Minister Ionas Nicolaou said Interpol withdrew Cyprus’ arrest warrant against Maria Efimova, the whistle-blower...

• Moody’s downgrades Co-op baseline credit assessment to ‘ca’

  3 weeks ago Business Mail

  By Stelios Orphanides Moody’s Investors Service on Tuesday downgraded the baseline credit assessment of the state-owned Cyprus Cooperative...

• Pressure to raise provisions prompted Co-op to forge ahead

  3 weeks ago Business Mail

  By Stelios Orphanides The decision of the Cyprus Cooperative Bank last week to speed up developments and invite investor interest to buy the...

• Economic sentiment drops in March, University of Cyprus says

  3 weeks ago Business Mail

  By Stelios Orphanides The economic sentiment index fell in March by 1.6 points to 117.5 compared to February after peaking at 119.9 in...

• Interpol rejected Cypriot arrest warrant for Efimova, lawyer says

  3 weeks ago Business Mail

  By Stelios Orphanides Interpol rejected an international arrest warrant issued by Cypriot authorities in the past against Maria Efimova, the...

• Government generates €255m surplus in January

  3 weeks ago Business Mail

  By Stelios Orphanides The government generated a fiscal surplus of €255m on a cash basis in January, compared to €168m in January...

• Creditors repeat urge for reforms amid slow NPL reduction

  3 weeks ago Business Mail

  By Stelios Orphanides Cyprus needs to take advantage of the current higher-than-expected economic growth to promote structural reforms that...

• Malta freezes Pilatus bank’s operations after chairman’s arrest

  4 weeks ago Business Mail

  By John O’Donnell Malta’s regulators have imposed a freeze on the business of Pilatus Bank after its chairman’s arrest on...

• Efimova likely to receive asylum in Greece, sources say

  4 weeks ago Business Mail

  By Stelios Orphanides The case of Maria Efimova, the source for the slain Maltese journalist Daphne Caruana Galizia, is undergoing a new twist...