The risk of another Cyprus default over the coming years remains elevated due to very substantial risks to the country's economic performance and, as a result, the government's finances, Moody's Investors Service said in its annual credit report on Cyprus issued on Saturday. This is reflected in the negative outlook on the Caa3 rating of
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Cyprus president Nicos Anastasiades said that his government has considered all possible scenarios and that any decision to exit the eurozone will lead to the collapse of the economy. Addressing a news conference at the Presidential Palace to mark the first four months of his administration, Anastasiades said that the government wants to see the
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. By Shavasb Bohdjalian, Certified Investment Advisor and CEO of Eurivex Private corporations from any jurisdiction are now in a position to issue their corporate bonds and list the bonds on the MTF Market of the Vienna Stock Exchange under simplified listing rules and at very reasonable fees. The Multilateral Trading Facilities (MTF) are a form
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. By Rakis Christoforou BBA, CPA/ABV/CFF, CGMA, ACFE The purpose of the Internal Capital Adequacy Assessment Process (ICAAP) and Pillar 2 in the Basel II framework is to ensure that financial institutions including investment Firms have sufficient available capital to meet the minimum capital requirements, even under stressed scenarios. Pillar 2 covers two main processes:
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Reassuring comments from the U.S. Federal Reserve on its stimulus programme helped boost world stocks to their best week in eight months on Friday, while the dollar bounced as focus switched to U.S. earnings and the Chinese economy. Wall Street was expected to see a tentative start to the day after its record high finish
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Hellenic Bank, until recently the third biggest lender in Cyprus, propelled up to second place after the two largest were forced to merge as part of a rescue plan, believes it can recapitalise on its own without any state aid. Hellenic is expected to meet its 9% Core Tier 1 requirement through a combination of
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A U.S. tourist was gored by a bull on Friday along with two Spaniards as they all took part in a bull-run in Pamplona, where people race through the Spanish town's cobbled streets pursued by the animals. Authorities did not give details on the 20-year-old American's condition. One of the Spaniards was described as having
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– Snowden meets human rights groups in Moscow Friday – Commercial flights safer than government planes, experts says When an Aeroflot plane from Moscow took an unusually southerly course to Havana on Thursday, it quickly triggered speculation that American fugitive Edward Snowden could be on board. But the plane was probably just avoiding turbulence, like other
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The British government and the auto industry will invest 1 billion pounds ($1.5 billion) in a research centre to develop low-carbon technologies and help secure the jobs of 30,000 people working in the country's car engine supply chain. The government and a group of 27 firms including oil major BP, Indian carmaker Tata Motors and
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Nokia on Thursday introduced a new smartphone, the Lumia 1020, with a powerful 41-megapixel camera in its latest bid to catch up with rivals Samsung Electronics Co Ltd and Apple Inc . Tech bloggers responded enthusiastically, saying the camera quality was the highest in the market. But analysts questioned whether it was enough to help
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