
BusinessMail
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Dealing with Private Debt and NPLds: A Comprehensive Blueprint
By Renos Ioannides* The excessive private debt burden of households and businesses and the stubbornly high levels of non-performing loans are...
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J&P Overseas workers in Saudi Arabia complain about being unpaid for months
By Stelios Orphanides J&P Overseas, a subsidiary of Cyprus’s construction industry flagship Joannou & Paraskevaides Group is...
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Central Bank profit falls to €49.5m in 2017
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...
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Government generates €251m surplus in first two months
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...
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Current account deficit at €1.3bn of 6.7% of GPD in 2017
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...
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Government to address Co-op depositor concerns with symbolic gesture
By Stelios Orphanides Finance minister Harris Georgiades said that the government intends to take symbolic action to assure Cyprus Cooperative...
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Co-op recipient of considerable investor interest
By Stelios Orphanides The Cyprus Cooperative Bank said that it received a “considerable number” of applications expressing interest in buying...
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Chairman of Maltese Pilatus Bank pleads not guilty to U.S. charges
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...
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Aegean orders 42 A320 for $5bn, Greece’s largest investment
PRESS RELEASE AEGEAN announces that, following the completion of tender process, it is proceeding with the signing of a Memorandum of...
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Co-op says expression of interest “satisfactory” as deadline expires today
By Stelios Orphanides Co-op bank executives on Thursday expressed satisfaction over investor interest, as the deadline for the expression of...
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Deposits fall in February as banks extend fresh credit
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...
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Justice minister says Interpol withdrew warrant against Efimova
By Stelios Orphanides Justice Minister Ionas Nicolaou said Interpol withdrew Cyprus’ arrest warrant against Maria Efimova, the whistle-blower...
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Moody’s downgrades Co-op baseline credit assessment to ‘ca’
By Stelios Orphanides Moody’s Investors Service on Tuesday downgraded the baseline credit assessment of the state-owned Cyprus Cooperative...
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Pressure to raise provisions prompted Co-op to forge ahead
By Stelios Orphanides The decision of the Cyprus Cooperative Bank last week to speed up developments and invite investor interest to buy the...
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Economic sentiment drops in March, University of Cyprus says
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...
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Interpol rejected Cypriot arrest warrant for Efimova, lawyer says
By Stelios Orphanides Interpol rejected an international arrest warrant issued by Cypriot authorities in the past against Maria Efimova, the...
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Government generates €255m surplus in January
By Stelios Orphanides The government generated a fiscal surplus of €255m on a cash basis in January, compared to €168m in January...
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Creditors repeat urge for reforms amid slow NPL reduction
By Stelios Orphanides Cyprus needs to take advantage of the current higher-than-expected economic growth to promote structural reforms that...
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Malta freezes Pilatus bank’s operations after chairman’s arrest
By John O’Donnell Malta’s regulators have imposed a freeze on the business of Pilatus Bank after its chairman’s arrest on...
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Efimova likely to receive asylum in Greece, sources say
By Stelios Orphanides The case of Maria Efimova, the source for the slain Maltese journalist Daphne Caruana Galizia, is undergoing a new twist...