Three Cypriot banks completed with a capital surplus the European Central Bank's comprehensive assessment, whereas one bank completed the exercise with a manageable shortfall. The ECB and EBA comprehensive assessment revealed capital shortfalls for Bank of Cyprus, the Cooperative Central Bank (CCB) and Hellenic Bank, whereas Russian subsidiary RCB registered capital surplus. The test was
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* Exports to top €90 mln – PDO by “end of 2014” Halloumi exports are expected to reach about 85 to 90 mln euros this year and a Greek court ruling this week that reaffirms its name and provenance will further boost overseas sales of the single best selling Cypriot product, the agriculture minister said.
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* Economist says reform will bring back lost money, MoA still “painful” * Andreas Theophanous, a vocal economist who very often challenges the establishment, is calling for an immediate reduction in taxes in order to get the economy up and running again. “The most important way to improve the indicators of private and public debt
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. By George Theocharides Cyprus International Institute of Management Despite the current financial crisis and recession that we are experiencing, one industry that stands out, is resilient and is growing is Financial Services. Despite the reputational damage that we suffered following the events of March 2013, many of the benefits that made Cyprus an attractive
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. By Dr. Jim Leontiades Cyprus International Institute of Management The bankruptcy and accumulated debts of Laiki Bank were a key element of the Cyprus financial crisis. A recent article (“To Restore Confidence in Economy, A Test of Europe’s Bank’s”, October 17) in The New York Times discusses the stress tests to be implemented by
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. By Dr Andrestinos N. Papadopoulos, Ambassador a.h. The statements by the Russian Deputy Foreign Minister Alexey Meshkov and the Spokesman of the Ministry Alexander Lukashevich concerning Turkey’s stated intention to carry out seismic studies in the Cyprus Exclusive Economic Zone (EEZ) were the object of different interpretations and comments. Some of them were negative,
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On Tuesday October 21st, the Cyprus Tourism Organization hosted an event to inform its partners, local authorities and communities of the completion of the Project “Enrichment and Enhancement of Themed Routes” which is co-funded by the European Agricultural Fund for Rural Development (EAFRD). The event took place on the occasion of the completion of the
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The Hilton Cyprus hotel, concluded a Blood Donation Campaign for the children with Mediterranean Blood Disorder (Mesogiaki Anemia), under the supervision of the Blood Donation Unit of Cyprus. The mobile Blood Bank came to the hotel and set-up the Ballroom. The volunteers were welcomed from 11:00 – 13:00 hours, on Tuesday, 21st October, 2014. Management
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EU leaders have named new Cypriot EU Commissioner Christos Stylianides to coordinate the bloc’s fight against Ebola. Stylianides, who will serve as the EU Commissioner for humanitarian aid and crisis management, was named EU coordinator for fight against Ebola by the European Council, President of the European Council Herman Van Rompuy said in a tweeted
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Cyprus Public Debt Management Office announced it approved applications amounting to €7.14 million for the purchase of sixth series of six-year government bonds for physical persons. The PDMO said it approved a total of 26 applications ranging from €8,000 to €2,5,00,000 with a weighted average of €274,615. The bonds will be issued on November 1,
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