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20 August 2014 13:15
The measures proposed by the government to accompany a controversial foreclosures bill so as to ease its approval by parliament and meet a Troika condition for the next instalment of bailout cash, will be announced on Wednesday after the Cabinet meeting.
The announcement will be made amidst......More
20 August 2014 13:15
The Bank of Cyprus, the island’s largest lender, has expanded its list of property for sale with 54 pieces now listed on its web site, Phileleftheros newspaper reported on Wednesday.
The property involves assets which were taken over by the bank in payment for loans or property resulting from the......More
19 August 2014 10:49
Tourist arrivals increased by 5,7% in July, Cyprus` Statistical Service said on Monday, announcing also an important increase of 11.4% in Cypriots` trips abroad.
The figures showed an increase of 5,9% in tourist arrivals in the first seven months of the year.
On the basis of the results of the......More
18 August 2014 17:17
The union of small businesses and self-employed workers (SYMEA) has warned any bank wishing to liquidate any small businesses on the island, that they face a barrage of lawsuits.
Meanwhile, the issue concerning the foreclosures bill is set to be discussed this morning at the presidential summer......More
16 August 2014 12:41
With a forecasted economic contraction of 4.1% in 2014 and 2% in 2015, Moody's rating agency does not foresee an economic recovery led by domestic demand any time before 2016. In a recent report, the agency points out that unlike the European Commission, it does not anticipate an economic recovery......More
14 August 2014 12:08
Finance Ministry and Central Bank technocrats are racing against time to prepare two draft bills that will include provisions from the insolvency framework and institutionalise a code of ethics, in order to secure a majority vote in parliament by the end of the month.
Legislators have refused to......More
13 August 2014 17:09
Ailing Cyprus Airways chairman Tony Antoniou has refused to comment on reports that an investigation into possible mishandling of public money by him concluded that some actions could have been avoided. "I haven't seen the conclusions; I don't know what the report says. And I'm not going to......More
13 August 2014 16:04
Credit card expenditure for July showed a 6% increase in the use of local plastic for purchases in Cyprus, as well as a 3% drop in the use of local cards abroad compared to the same month last year, data by clearing agency JCC showed. The 6% increase in the use of local cards at home translates......More
12 August 2014 21:14
NICOSIA - Finance Minister Harris Georgiades on Tuesday warned MPs that the rejection of the draft bill on property repossessions could lead to the non-disbursement of the next instalment of bailout cash with serious repercussions.
“If the instalment is not disbursed the difficulties we will face......More
13 August 2014 09:02
A civil lawsuit against former Central Bank governor Athanasios Orphanides has been postponed until November 3, Limassol District Court decided on Monday.
Orphanides appeared in court Monday morning as bank bondholders gathered outside the building to protest and verbally attacked the former......More
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