
BusinessMail
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With new stress test looming, strong NPL laws key for banks
By Stelios Orphanides The finance ministry and the Central Bank of Cyprus (CBC) warned lawmakers on Monday that possible changes rendering the...
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Georgiades says government accepts Diko’s NPL proposals
By Stelios Orphanides Finance Minister Harris Georgiades said on Monday that his ministry will incorporate Diko’s suggestions on the...
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Central Bank revises 2018 growth forecast upwards to 4.1%
By Stelios Orphanides The Central Bank of Cyprus significantly revised its 2018 economic growth forecast upward to 4.1 per cent from a...
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Geopolitics, sanctions not deterring RCB, CEO Zimarin says
By Stelios Orphanides RCB Bank intends to stay in Cyprus to continue developing its operations and adjusting to stricter anti-money laundering...
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Government surplus up 70% in January to May, Cystat says
By Stelios Orphanides The government’s deficit rose from January to May by 70 per cent to €386.9 million compared with the same period the...
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CBC says Co-op worst case scenario theoretical amid bank run
By Stelios Orphanides An increase in withdrawals at the Co-op compelled the Central Bank of Cyprus to say that Thursday’s comments made by one...
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NPL bills provide for incentives, penalties, e-auctions
By Stelios Orphanides The four bills on the management of delinquent loans approved by cabinet on Thursday provide for significant changes in...
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Georgiades says pressure intense to reform NPL laws
By Stelios Orphanides The finance minister said that Cyprus is under ‘intense pressure’ created by an increasingly strict banking...
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Failure to approve Co-op deal would be disastrous, CBC warns
By Stelios Orphanides A central bank official warned MPs on Thursday that failure in implementing Hellenic Bank’s agreement with the Cyprus...
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Resolute Asset Management, Antonis Loizou & Associates launch JV
PRESS RELEASE Resolute Asset Management announces the joining of forces of their Cyprus operations, effective from 1st July, with Antonis...
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Cabinet to pass NPL laws ahead of Friday’s House debate
By Stelios Orphanides Finance Minister Harris Georgiades said that Cyprus had no other choice than to accept the European Commission’s...
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Deposits rise to €50.9bn in May, central bank says
By Stelios Orphanides Deposits in the Cypriot banking system rose in May by €201.2m in a month, to €50.9bn, as total lending fell by €66.8m,...
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Economic sentiment plunges in June, ERC says
By Stelios Orphanides The economic sentiment fell in June by 7 units to 109.1, as business confidence retreated across all sectors as...
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Stock suspension lifted after Hellenic, Co-op sign deal
By Stelios Orphanides The Cyprus Stock Exchange said that it lifted the suspension of trading in Hellenic Bank, Demetra Investments and...
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Hellenic signs deal with Co-op, as PIMCO pledges capital
By Stelios Orphanides Hellenic Bank said that it signed with the Cyprus Cooperative Bank a business transfer agreement on Monday allowing it...
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The Case for NPLs Strategisation
A. Where are we? When Cyprus was embarking upon its journey into the unknown territory of elevated NPLs and excessive private debt along...
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Louis sells Aegean Queen
By Stelios Orphanides Leisure services provider Louis Plc said that it sold its cruise ship “m/v Aegean Queen” to an unspecified company...
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Co-op freezes deposit accounts of borrowers with NPLs
By Stelios Orphanides Four days after the approval of the deal to sell its healthy operations to Hellenic Bank, the Cyprus Cooperative Bank...
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ICPAC elects new board of directors
By Stelios Orphanides The Institute of Certified Public Accountants of Cyprus (ICPAC), a body supervising accounting firms, said that its new...
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Unemployment rate increases in Q1 to 10.7%, Cystat says
By Stelios Orphanides The unemployment rate in the first quarter of the year rose to 10.7 per cent, from 10.1 per cent the previous quarter,...
