BusinessMail

• With new stress test looming, strong NPL laws key for banks

  2-7-2018 Business Mail

  By Stelios Orphanides The finance ministry and the Central Bank of Cyprus (CBC) warned lawmakers on Monday that possible changes rendering the...

• Georgiades says government accepts Diko’s NPL proposals

  2-7-2018 Business Mail

  By Stelios Orphanides Finance Minister Harris Georgiades said on Monday that his ministry will incorporate Diko’s suggestions on the...

• Central Bank revises 2018 growth forecast upwards to 4.1%

  2-7-2018 Business Mail

  By Stelios Orphanides The Central Bank of Cyprus significantly revised its 2018 economic growth forecast upward to 4.1 per cent from a...

• Geopolitics, sanctions not deterring RCB, CEO Zimarin says

  30-6-2018 Business Mail

  By Stelios Orphanides RCB Bank intends to stay in Cyprus to continue developing its operations and adjusting to stricter anti-money laundering...

• Government surplus up 70% in January to May, Cystat says

  29-6-2018 Business Mail

  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...

• CBC says Co-op worst case scenario theoretical amid bank run

  29-6-2018 Business Mail

  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...

• NPL bills provide for incentives, penalties, e-auctions

  29-6-2018 Business Mail

  By Stelios Orphanides The four bills on the management of delinquent loans approved by cabinet on Thursday provide for significant changes in...

• Georgiades says pressure intense to reform NPL laws

  28-6-2018 Business Mail

  By Stelios Orphanides The finance minister said that Cyprus is under ‘intense pressure’ created by an increasingly strict banking...

• Failure to approve Co-op deal would be disastrous, CBC warns

  28-6-2018 Business Mail

  By Stelios Orphanides A central bank official warned MPs on Thursday that failure in implementing Hellenic Bank’s agreement with the Cyprus...

• Resolute Asset Management, Antonis Loizou & Associates launch JV

  27-6-2018 Business Mail

  PRESS RELEASE Resolute Asset Management announces the joining of forces of their Cyprus operations, effective from 1st July, with Antonis...

• Cabinet to pass NPL laws ahead of Friday’s House debate

  27-6-2018 Business Mail

  By Stelios Orphanides Finance Minister Harris Georgiades said that Cyprus had no other choice than to accept the European Commission’s...

• Deposits rise to €50.9bn in May, central bank says

  27-6-2018 Business Mail

  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,...

• Economic sentiment plunges in June, ERC says

  26-6-2018 Business Mail

  By Stelios Orphanides The economic sentiment fell in June by 7 units to 109.1, as business confidence retreated across all sectors as...

• Stock suspension lifted after Hellenic, Co-op sign deal

  26-6-2018 Business Mail

  By Stelios Orphanides The Cyprus Stock Exchange said that it lifted the suspension of trading in Hellenic Bank, Demetra Investments and...

• Hellenic signs deal with Co-op, as PIMCO pledges capital

  25-6-2018 Business Mail

  By Stelios Orphanides Hellenic Bank said that it signed with the Cyprus Cooperative Bank a business transfer agreement on Monday allowing it...

• The Case for NPLs Strategisation

  25-6-2018 Business Mail

  A. Where are we? When Cyprus was embarking upon its journey into the unknown territory of elevated NPLs and excessive private debt along...

• Louis sells Aegean Queen

  25-6-2018 Business Mail

  By Stelios Orphanides Leisure services provider Louis Plc said that it sold its cruise ship “m/v Aegean Queen” to an unspecified company...

• Co-op freezes deposit accounts of borrowers with NPLs

  22-6-2018 Business Mail

  By Stelios Orphanides Four days after the approval of the deal to sell its healthy operations to Hellenic Bank, the Cyprus Cooperative Bank...

• ICPAC elects new board of directors

  22-6-2018 Business Mail

  By Stelios Orphanides The Institute of Certified Public Accountants of Cyprus (ICPAC), a body supervising accounting firms, said that its new...

• Unemployment rate increases in Q1 to 10.7%, Cystat says

  22-6-2018 Business Mail

  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,...