The hopes of thousands of Britons that defective powers of attorney (POA) could let them off the hook were dashed last month when the Supreme Court declared that an interim order of a lower court which pronounced any documents signed under a defective POA as null and void, did not apply to the main defendants,
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Having experimented with the banks rescue in Cyprus in March, European Parliament and Council Presidency negotiators reached a political agreement Wednesday on the draft bank recovery and resolution directive, the first step towards setting up an EU system to deal with struggling banks. This directive will introduce the “bail-in” principle by January 2016, thereby ensuring
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At Lufthansa, the air is heady with the scents of Advent. Passengers both young and old, at the airport or on board, will be lavished with a range of small gifts to put them in the festive spirit. Before they even set off, children and teenagers have the opportunity to win lots of different prizes
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Three researchers at the University of Cyprus won the second place (out of 44 participating teams) in the Cyprus Startup Weekend competition held last week, a programme that aims to provide an opportunity for participants to transform their ideas into a business plan within 54 hours and pitch it to a panel of ten judges.
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Moody's Investors Service has raised to ‘stable’ from ‘negative’ the outlook on the Baa3 senior secured ratings assigned to the Israel Electric Corporation (IEC) and the (P)Baa3 provisional rating of IEC's $5.0 bln global medium-term note (GMTN) programme, following the strengthening of its cash flow and liquidity positions, as shown in its reported results for
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The outlook for Norway's banking system remains stable for a second consecutive year, Moody's Investors Service in a report Thursday. The stable outlook reflects broadly benign macroeconomic conditions that will support banks' performance and credit metrics over the 12-18 month outlook period, notwithstanding risks of asset-quality erosion, mainly due to a slight weakening in the
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. The recent provocation by the Turkish research vessel Barbarosa off the south-western coast of Cyprus has shown, once again, how vulnerable our navy-less island is, while our “friends” in the EU do not dare raise a finger to scold Ankara for its actions. With Catherine Ashton as foreign relations supremo, we do not expect anything
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. By George Selinsky A new proprietary trading business model popularised in the United States might provide a solid source of revenue for the struggling Cypriot Forex industry without radically altering a firm’s risk profile. In the wake of the subprime mortgage crisis, proprietary trading has become somewhat of a dirty word in the financial
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. What’s the reasoning behind Japan’s stimulus? By Oren Laurent President, Banc De Binary The Japanese cabinet approved an 18.6 trln yen ($182 bln) package on Thursday to bolster the economy, amid budding skepticism about the long-term success of the government’s monetary policy. What is the thinking behind it and what impact will it have?
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The Athens Ledra Marriott, owned by the Cyprus-based Paraskevaides Group and managed by Marriott International until the end of December, will reopen on January 1 as the Athens Ledra Hotel, after negotiations with the hotel chain failed to produce any result. ASTY S.A. will manage and operate the 314-room hotel on Syngrou Ave., while the
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