Bank of Cyprus announced on Friday that JEREMIE-III, the current phase of its lending scheme for small to medium sized enterprises (SMEs), expires on September 15, having already allocated €31 mln to 460 corporate borrowers. To date, the bank has provided similar loans of about €150 mln from facilities funded by the European Investment Bank
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The Cyprus government has introduced radical tax reforms that aim to attract foreign direct investments and non-domiciled individuals, simplify levies for properties, return tax-collection to local municipalities and encourage tax-breaks for direct injections where local companies are strained for cash-flow. Finance Minister Haris Georghiades said that the set of five tax packages approved by the
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Cyprus sold €50 mln of 26-week treasury bills during its auction on Thursday, which was oversubscribed by almost three times, pushing the yield down to an average 2.40%. The yield was far below the 2.96% rate achieved in January 2011, just before Cyprus was shut out of international markets and sought a €10 bln Troika
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The Consumer Price Index for June decreased by 0.18 units or 0.16% to 115.50 units compared to 115.68 in May mainly due to decreases in the prices of certain fresh fruit and electricity. The “food and non-alcoholic drinks” sub-index was down -1.95% from the previous month and -2.74% year-on-year, while the “housing, water, electricity and
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The sharp declines in oil prices seen in previous days related to the Greek crisis, US production and dollar strength, seem to have eased in early trades on Thursday, with the main crude benchmarks rising for the first time in months. Following a 50-65c fall on Wednesday, US-marker crude WTI was down a mere 2c
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By Jameel Ahmad, Chief Market Analyst, FXTM Although GBPUSD advanced two days ago on a slightly improved UK GDP revision, gains were short-lived and the pair has since dropped 200 pips to a two-week low of 1.5588. Bank of England Governor Mark Carney weakened investor sentiment towards the Pound by announcing that the UK economy
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The creature is driven by rage and pursued by an investigative reporter. The creature is wanted for a murder he didn’t commit. David Banner is believed to be dead, and he must let the world think that he is dead, until he can find a way to control the raging spirit that dwells within him.
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The European Bank for Reconstruction and Development (EBRD) has signed a €20 mln trade finance facility with Eurobank Cyprus under the EBRD’s Trade Facilitation Programme (TFP) aiming at supporting the expansion of international trade on the island. Through the facility, the EBRD will issue guarantees in favour of international commercial banks covering the political and
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President Nicos Anastasiades announced tax reforms on Wednesday aimed at attracting non-domiciled wealthy foreign investors and introducing a more competitive and fair taxation network. Addressing the 54th annual meeting of the Institute of Certified Public Accountants of Cyprus (ICPAC), he said the aim was for this administration to become the first government in the island’s
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By Costis Stambolis Greek Prime Minister Alexis Tsipras’ surprise decision late Friday night to call a snap referendum on new bailout terms offered by its creditors, pitted Athens on a head-on collision with its eurozone partners pushing the country closer to a “Grexit”. The government’s momentous decision to call a referendum followed a supposed break-down
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