BusinessMail

• Economist proposes reducing deposit tax to counter likely ECB rate hike

  2 weeks ago Business Mail

  By Stelios Orphanides The government may have to consider reducing the currently 30 per cent tax rate on income from deposits in order to help...

• Negative yields stay as government sells €100m in t-bills

  3 weeks ago Business Mail

  By Stelios Orphanides Yields remained unchanged at minus 0.05 per cent on Monday when the government auctioned €100m in 13-weeks treasury...

• Employers blast Hellenic strike, despite union celebration

  3 weeks ago Business Mail

  EMPLOYERS’ organisations on Friday criticised the bank workers’ union for staging a 24-hour strike at Hellenic over the terms of employment of...

• January to May fiscal surplus rises to €113.9m, Cystat says

  3 weeks ago Business Mail

  By Stelios Orphanides The government generated a fiscal surplus of €113.9m on a cash basis in the first five months of the year, compared to a...

• Co-op Q1 profit shrinks to €2.6m amid rising NPLs, restructuring slowdown

  3 weeks ago Business Mail

  By Stelios Orphanides The state-owned Cooperative Central Bank said that it generated a €2.6m after-tax profit in January to March this year...

• Post bail-in bank liquidity peaks in May

  3 weeks ago Business Mail

  By Stelios Orphanides Total deposits in the Cypriot banking system rose last month by €168.8m to €49.1bn as total loans dropped by €193.6bn to...

• BoC appoints Kalochoritis as advisor to John Hourican

  3 weeks ago Business Mail

  By Stelios Orphanides Bank of Cyprus Plc Co Ltd said that it appointed Marios Kalochoritis as senior advisor to chief executive officer John...

• Hellenic Bank workers to hold strike on Friday

  4 weeks ago Business Mail

  By Stelios Orphanides Bank workers union Etyk said Tuesday its board of directors “unanimously” decided to ask members at Hellenic Bank to...

• EU fines Google record $2.7 bln in first antitrust case

  4 weeks ago Business Mail

  By Foo Yun Chee EU antitrust regulators hit Alphabet unit Google with a record 2.42-billion-euro ($2.7 billion) fine on Tuesday, taking a...

• Economic sentiment down in June, ERC says

  4 weeks ago Business Mail

  By Stelios Orphanides The economic sentiment indicator declined by 0.8 points in June, to 117.6, as confidence in construction fell,...

• Cyprus Opportunity buys 10 Oil Fields in North Dakota

  4 weeks ago Business Mail

  PRESS RELEASE The oil and gas exploration company Cyprus Opportunity is entering, for the first time, into oil drilling and production...

• Europe’s inequality highly destabilising, ECB’s Draghi says

  4 weeks ago Business Mail

  By Balazs Koranyi Europe’s growing inequality is highly destabilising and needs to be tackled with education, innovation and investment...

• Three unions to strike on Tuesday at the co-op

  4 weeks ago Business Mail

  By Stelios Orphanides The members of three unions working at the bailed out Cooperative Central Bank will stage on Tuesday a three-hour...

• Q1 current account flips to a €721m gap, central bank says

  4 weeks ago Business Mail

  By Stelios Orphanides The Central Bank of Cyprus said that Cyprus’s current account deficit posted a €721.1m deficit in the first three months...

• Italian bond yields rise as EU approves state bailout of banks

  4 weeks ago Business Mail

  By Abhinav Ramnarayan Italian government bond yields rose on Monday after the European Commission approved the rescue of assets of two...

• Secondary market yields drop following latest bond issue

  4 weeks ago Business Mail

  By Stelios Orphanides Cyprus, which saw the secondary market yields of outstanding securities drop considerably over the past six months,...

• Central Bank of Cyprus expects economy to grow 3.1% in 2017

  23-6-2017 Business Mail

  By Stelios Orphanides The Central Bank of Cyprus said that it revised its 2017 economic growth forecast to 3.1 per cent in 2017 from a 2.8 per...

• CySEC fines 8 Laiki officials €1.1m

  23-6-2017 Business Mail

  By Stelios Orphanides The Cyprus Securities and Exchange Commission (CySEC) which supervises inter alia listed companies, said that it fined...

• Q1 jobless rate drops to 13.5% as economy adds 14k new jobs

  23-6-2017 Business Mail

  By Stelios Orphanides The unemployment rate dropped in the first quarter of the year to 13.5 per cent, which is 0.6 percentage points below...

• ICPAC announces composition of new board

  22-6-2017 Business Mail

  By Stelios Orphanides The members of the Institute of Certified Public Accountants of Cyprus (ICPAC), which supervises accounting firms,...