. By Oren Laurent President, Banc De Binary At his annual year-end press conference on Friday, US President Barack Obama was asked if 2013 had been the worst year of his presidency so far. Like a true politician, Obama flashed his famous smile and deflected criticism, “That's not how I think about it.” Certainly, Obama
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. By Persella Ioannides The Cypriot banking bailout terms are a reminder of the business need to diversify revenue streams and exposure tied to the local economic environment, which is why CySEC announced its approval for MeritKapital to operate a branch in Riga. Latvia had its own banking crisis in 2008, upon which it received
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The existence of significant risks, leaves no room for implementation slippages, the International Monetary Fund (IMF) points out in the second review of Cyprus’ performance under the financial adjustment programme imposed to the country by its international lenders. According to the review, a more protracted recession, with knock on effects on the fiscal and financial
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Unemployment among the labour force stood at 16.2% in Cyprus for the third quarter of 2013, up by 0.7% in relation to the corresponding quarter of 2012, data released on Monday by the Cyprus Statistical Service show. At the same time youth unemployment between people aged 15 to 24 was recorded at 38.5%, reduced by
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Cypriots are pessimistic right now and for 2014 over the country’s economy and particularly employment, a European autumn Eurobarometer shows. Citizens seem to trust the government more than political parties while support for the European currency is losing ground. In particular 97% of Cypriots asked feels the economic situation in the country is “bad” or
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Emirates has received delivery of its 43rd and 44th A380 aircraft with a double delivery from Airbus’ Finkenwerder facility in Hamburg, Germany. “Our customers love the A380 – from the quieter cabins and spacious layout on the main deck, to the on-board lounge and shower spas in our premium cabins. It is a beautiful aircraft
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The UK used to be the greatest advocate of EU enlargement. But now its prime minister David Cameron wants to introduce new control mechanisms vis-à-vis future EU member countries. EurActiv Serbia contributed to this article. The United Kingdom, the historical advocate of an active EU enlargement policy, including towards Turkey, has shown a change of
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The office of the European Parliament in Nicosia is launching a campaign in view of the EP elections to take place May 25th. The aim is to get all Cypriot citizens to vote and not to abstain. The Cyprus office organized Saturday an event in Nicosia, with the participation of the FM, the G/C negotiator,
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The International Monetary Fund (IMF) approved on Friday the disbursement of €83.5 mln to Cyprus. The Executive Board of the IMF completed the second review of Cyprus’ performance under an economic program supported by a three-year, Extended Fund Facility (EFF) arrangement, of about €1 bln, the Fund said in a statement. The completion of this
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Bank of Cyprus announced a scheme on Friday that offers its unemployed customers the option to pay only a nominal ten euros per month instead of paying their regular home installments for a year. Speaking during a joint press conference with the Minister of Labour Zeta Emilianidou, the bank's board chairman Christis Hassapis said that this way,
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