A number of property developers, including Leptos, the Dolphin and Shacolas, were among the companies named in an alleged leaked memo from the Bank of Cyprus as having ‘risky’ loans, the CyprusPropertyNews web portal reported last week. The bank’s total exposure to non-performing loans could be as high as 6 bln euros, with developers being
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Spanish Prime Minister Mariano Rajoy urged more unity for Europe and said a banking union for the region should be finalised this month, El País reported in an interview published on its website late yesterday (8 December). Spanish politicians are not impervious to the consequences of corruption, Rajoy told El País, and he denied any
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Noble Energy which has a concession in Cyprus` block 12 is planning to proceed with further exploration drilling towards the end of 2014, Energy Minister Giorgos Lakkotripis has said. A senior Noble Energy official, who briefed Cyprus President Nicos Anastasiades on the plans for the development of block 12, noted that the Houston-based company continues
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Minister of Defence Fotis Fotiou has said that Cyprus has denounced to the EU and the UN Turkey’s provocative actions in Cyprus’ Exclusive Economic Zone. Speaking before the House of Representatives’ Committee on Defence, the Minister referred to Turkey’s action to send Turkish vessel “Barbaros” to conduct surveys on hydrocarbons in Cyprus’ territorial waters, in
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Eurozone Ministers of Finance convene today in Brussels. The Eurogroup is expected to discuss about Cyprus’ privatization road map, which is a precondition for the next tranche of Cyprus’ assistance program. Cyprus is represented by Minister of Finance Harris Georgiades. The Republic of Cyprus signed a financial adjustment programme with the Troika last March. The
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Anti-government protesters toppled a statue of Soviet state founder Vladimir Ilyich Lenin in Ukraine's capital and attacked it with hammers yesterday (8 December) in a symbolic challenge to President Viktor Yanukovich and his plans for closer ties with Russia. The gesture rejecting Moscow's historic influence over Ukraine came after opposition leaders told hundreds of thousands
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In the aftermath of the Lampedusa tragedy, in which hundreds of African migrants lost their lives, the EU's 28 home affairs ministers met in Brussels on Thursday (5 December) to come up with a set of measures to tackle massive migration, but seemed more focused on border security rather than refugees' protection. At the Brussels
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MONEYVAL has not yet set a date for publicising its report on Cyprus, according to the Council of Europe media office. The media office contacted CNA to say that the report on Cyprus would be published but that a date had not yet been set and it was not likely that this would happen next
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A delegation from Eurocontrol will be in Cyprus in the next few days to begin a series of contacts with workers and the Ministry of Communications and Works, in the framework of a decision by the government to carry out a comprehensive study on the restructuring and autonomy of the Civil Aviation Department, and the
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The gaffe by the island’s unpopular centralbanker about the alleged ‘risky’ accounts at the Bank of Cyprus UK came to end after a week-long uproar that saw an opposition MP duped into the argument, suggesting the account holders could have been money launderers, claims that were rejected by the bank. Central Bank Governor Panicos Demetriades
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