The Financial Mirror spoke to seven economists and financial analysts who shared their views on Cyprus returning to the investment fold and what the future holds for the country’s economy. Despite the positives, high private and public debt, trade wars, the Cyprus problem and regional instability all pose risks to a brighter investment outlook (Part
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The Financial Mirror spoke to seven economists and financial analysts who shared their views on Cyprus returning to the investment fold and what the future holds for the country’s economy. Despite the positives, high private and public debt, trade wars, the Cyprus problem and regional instability all pose risks to a brighter investment outlook (Part
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Cyprus has finally achieved the much sought-after investment grade after Standard and Poor’s upgraded the country’s creditworthiness status. The major rating agency upgraded the island’s sovereign credit ratings from BBB-/A-3 to BB+/B with a stable outlook. Making good on S&P’s upgrade, the Cyprus Republic issued an international bond on Monday pulling in EUR 1.5 bln.
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Bank of Cyprus CEO John Patrick Hourican told investors now is a good time to invest in Cyprus as Nicosia went on a charm offensive in London on Friday. BoC’s CEO told Bloomberg that post-bailout “Cyprus is now out of the Cardiac arrest it had been since 2013” and is in a proper position
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. It is no use talking about ending the energy isolation of Cyprus. This cannot be done either through ambitious and strategically sensitive gas pipelines, or by way of electricity interconnectors to import (or someday export) cheap energy from clean sources, if there is no distinct national energy policy to take the island into the
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. There is going to be some static coming from New York next week when the Cyprus problem gets a mention in the corridors of the United Nations before more serious matters are attended to. And this is where those who invest time and energy in the complexities of the island’s politics of division miss
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Nicosia has protested to the United Nations over the detention of a Cyprus-flagged fishing vessel with five crew on board by a Turkish warship. “The Government has made strong representations to the United Nations,” said government Spokesman Prodromos Prodromou. He said the government was working for the release of the detained fishermen – one Cypriot
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Hellenic Bank CEO Ioannis Matsis told Bloomberg on Friday that Cyprus still had too many banks despite the recent acquisition of the Co-op. “Cyprus is a very overbanked and very overinsured market,” said Matsis. He gave examples to prove his point such as assets per bank employee in Cyprus being €8 mln compared to the
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Italy is committed to seeing the EastMed pipeline project going ahead as a new route of energy supply to Europe, Italian ambassador Andrea Cavallari told the Cyprus News Agency (CNA). The leaders of Cyprus, Greece, Israel and Italy may sign an inter-governmental agreement on the EastMed project in Beersheba during a summit scheduled for December
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A Troika delegation will be in Cyprus next week for a round of meetings with key actors in the Cypriot economy to discuss the non-performing loans and growth prospects. Representatives from the European Commission, the European Central Bank, the European Stability Mechanism and the international Monetary Fund will have contacts with Parliament’s Finance Committee, the
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