Moody’s warned on Monday that the slow pace of loan restructurings in the Cypriot banking system may create a need for additional provisions, which would erode the banks’ capital. On the backdrop of a financial crisis, which prompted the government to require financial assistance from the EU and the IMF in 2013 and after an
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More than 70% of the tourists who participated in a survey commissioned by the Cyprus Tourism Organisation said they were ‘completely satisfied’ with their stay in Cyprus between July and October this year. The survey concluded that the sunny weather, the sea, the tranquillity and attractiveness of the environment, the local hospitality and the services
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The Leptos Group has relocated its Russian headquarters to new offices on the 44th floor of the EmpireTower, located in the heart of the Moscow International Business Centre. Andreas Santis, Leptos Group manager for eastern Europe, said that, “the new inspiring offices and our experienced personnel are vital for reaching the group strategic targets as
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. By Antonis Loizou F.R.I.C.S. – Antonis Loizou & Associates Ltd – Real Estate Valuers & Estate Agents It will be a mistake to consider that our banks/financiers are doing okay, especially bearing in mind the increased strict standards that are introduced from time to time by the European Central Bank. I say this
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. Just as we started to believe what the government has been feeding us, that the economy has resumed on a recovery path and boasts the second highest growth rate in the EU, the Anastasiades administration announced it was setting up a National Solidarity Fund to bail out investors who lost millions in bank bonds
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Minthis Hills, the luxury resort by Pafilia Property Developers in Paphos, recently received two 5-star awards at the European Property Awards held on October 26 at London’s Lancaster Hotel. Honoured in two categories, Pafilia’s project was proclaimed ‘Best Leisure Development’ in Cyprus and ‘Best Property Single Unit’ in Cyprus for one of its residences, Petra
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Senior executives at French energy giant Total told President Nicos Anastasiades during his working visit to Paris, that following the company’s recent drill during the summer they are now “engaged in a new campaign soon on Block 6 with ENI.” Anastasiades was received in Paris by Total’s CEO, Patrick Pouyanne, and the Vice President of
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The European Bank for Reconstruction and Development (EBRD), the EU investment arm that has significant stakes in Bank of Cyprus, Hellenic Bank and other infrastructure projects on the island, has upped its growth forecast for Cyprus in 2017 and 2018, by 1% and 0.3%, respectively. In a report on the growth in 37 countries in
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UK service providers indicated that business activity growth improved on its recent underwhelming trend in October. The latest expansion of service sector output was the fastest since April, supported by improved order books and resilient client demand, a survey has shown, while a downturn in business optimism about the year ahead, fuelled mainly by Brexit-related
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. By Antonis Loizou F.R.I.C.S. – Antonis Loizou & Associates Ltd – Real Estate Valuers & Estate Agents There is a lot of talk on measures to be undertaken in an effort to extend the tourist season by at least two months (October and November) at the end of the season and two
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