At the 10th Cyprus-Russian Festival During the 10th Cyprus Russian Festival, taking place on the 6th and 7th of June in the Limassol Municipal Gardens, the Andrey and Julia Dashin’s Foundation will be hosting a number of fundraising activities, workshops and attractions, in collaboration with Frederick University. On Saturday and Sunday, from 16:00 to 20:00,
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By Jameel Ahmad, Chief Market Analyst, FXTM There’s generally a correlation in the currency markets where any bounce in the price of WTI inspires similar momentum in those currencies linked to commodity prices. However, this hasn’t been the case on this occasion with this probably linked to rising suspicions that the OPEC meeting later this
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The Ministry of Finance sold 6-year government bonds worth €12 mln in its monthly offer this week, but also proceeded to lower the interest rates for a second time that had made the retail bonds attractive to individual investors. The Public Debt Management Office said that for the May bonds, the Republic received 92 offers
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Moody’s Investors Service has upgraded from B3 (on review for upgrade) to B1 the ratings on the mortgage covered bonds of the Bank of Cyprus, despite the high risk from the default of non-performing loans or failure of recovery. The rating agency has also affirmed the Caa3 deposit, (P) Caa3 provisional senior unsecured debt ratings
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German manufacturing intends to invest considerably more in 2015 than the year before, according to a survey by the Ifo Institute. The preliminary figures indicate an increase of seven percent, the Institute reported Friday in Munich. Especially smaller and medium-sized companies plan to increase significantly their spending on new buildings and equipment in the current year;
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* Issued €45m in EIB loans; Low-cost retail products; Ship financing for second-hands, not newbuilds * Hellenic Bank, the island’s third biggest lender that has survived the banking crisis that pummelled its peers in 2013, has just announced a second successive quarter of profits. But despite this good news, its CEO, Bert Pijls, insists that,
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The Cooperative Central Bank reported net profits of €37.1 mln in the first quarter of the year, down from €41.2 mln in the fourth quarter of 2014, mainly due to a drop in interest income as well as an increase in provisions by €22 mln to €3.04 bln. “This profitability was achieved within a quarter
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The Chairwoman of Hellenic Bank has called for the creation of asset management vehicles or companies so that banks can properly deal with the vast problem of non-performing loans and the glut in the property market. Addressing the bank’s 41st AGM, Irena Georgiadou told shareholders “our priorities include the effective management of NPLs and responsible
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By Dr Olga Kandinskaia, Director of the MSc Management Programme at the CIIM Business School CIIM is pleased to announce a new specialisation area for the Master of Science in Management Programme. In line with CIIM’s policy to bring best foreign professors, the new Digital Marketing Specialisation of the MSc Management has been designed in
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Property prices continued to fall in most towns and asset classes during the first quarter of the year, down 3-8% from the same quarter last year, with significant falls being recorded in Nicosia, according to the 22nd RICS Cyprus Property Price Index. “Given prevailing economic conditions and the turbulence in Cyprus’ banking system, there were
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