«Today we are taking a step forward for the Bank of Cyprus, which leaves the resolution regime, having strong capital adequacy,» the Governor of the Central Bank Panicos Demetriades said. Demetriades made ​​the above brief statement on Tuesday during the signing ceremony of the letter with which the Bank of Cyprus exits the resolution regime
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President of the National Economy Council Christophoros Pissarides has said that very soon many of the uncertainties surrounding the Bank of Cyprus will be clarified. Speaking after this morning’s Council meeting under President of the Republic Nicos Anastasiades, and referring to the haircut on uninsured deposits, Pissarides said there is an agreement that will be
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Stocks wobbled and the dollar index edged up from a five-week low on Tuesday as investors positioned for the Federal Reserve's monetary policy meeting at which it might offer clues to the timing of its stimulus reduction. MSCI's broadest index of Asia-Pacific shares outside Japan and Tokyo's Nikkei share average both opened slightly lower, although
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Two trains collided head-on in Switzerland late on Monday, injuring 26 people and killing the driver of one, police said. The driver's body was found overnight in the wreckage of the crash at Granges-près-Marnand in the canton of Vaud, police spokesman Jean-Christophe Sauterel said. He said it was too early to try to ascertain the
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Cyprus and its international lenders have agreed to convert 47.5% of deposits exceeding 100,000 euros in Bank of Cyprus to equity to recapitalize the bank. Deputy Government Spokesman Victoras Papadopoulos said on Monday that the Central Bank of Cyprus (CBC) has, as the competent Consolidation Authority, reached a definite percentage of the bail-in, at 47.5%.
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The European Business Awards (www.bussinessawardsEurope.com) has announced that Medochemie Ltd is to represent Cyprus as a National Champion in the prestigious 2013/14 Awards programme in the category “Imports/Exports Award”, Medochemie Ltd beat off stiff competition to be selected as one among other National Champions coming from 31 European countries and will compete for Ruban d'Honneur
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The number of investors who think a country will leave the euro zone soon has dropped by two thirds in the year since the head of the bloc's central bank promised to safeguard the currency, a survey published on Monday showed. The July poll of 888 investors by German research group Sentix showed 23.75 percent
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Emirates, one of the world’s fastest growing airlines, has been awarded ‘Best Airline Food and Wine’ by the readers of Frequent Business Traveler (www.frequentbusinesstraveler.com), an online publication written for and by affluent frequent business travellers. The Frequent Business Traveler GlobeRunner Awards recognize the world's best airlines, hotels chains, automobile manufacturers, car rental agencies, luggage manufacturers,
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A proposed mega-merger between global ad agencies Publicis and Omnicom could bring rival accounts such as Coca-Cola and PepsiCo under one firm, underscoring the scale of the $35.1 billion deal and the potential conflicts it raises. The companies said on Sunday that the deal – presented as a merger of equals – would give the
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Cutbacks by rivals and extra charges for choosing seats helped low-cost airline Ryanair meet forecasts with profit of 78 million euros ($103 million) in the three months to June, the Irish airline said on Monday. Carriers like Ryanair have been quick to exploit gaps in the market left by higher-cost rivals like British Airways, owned
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