By the end of July the resolution procedure at the Bank of Cyprus is expected to end, the House of Representatives’ Finance Committee heard Monday. Speaking before the House Committee, Assistant Director of the Department of Supervision of the Central Bank of Cyprus, Michalis Stylianou, told MPs that by the 31st of July, the Bank
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The Central Bank of Cyprus appointed Christos Sorotos as the interim Chief Executive Officer of Bank of Cyprus, which is currently undergoing a resolution process, following a decision of Eurogroup to impose losses on uninsured deposits as part of a €10 billion bailout financial assistance to the island. "The Central Bank of Cyprus, acting as
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The Council of Ministers has appointed three members of the Central Bank’s Board of Directors. According to an official announcement, issued here Tuesday, the Cabinet appointed on May 24 Alexander Michaelides, Michael Spanos and Stelios Kiliaris as the new members of the CB’s Board of Directors. With this appointment, the Government replaced the three members
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Japanese stocks strengthened as Asian shares edged higher on Tuesday, although investors were still awaiting direction from U.S. and U.K. markets when they resume trade after holidays on Monday, following last week's turbulence. The Nikkei stock average jumped 1.4%, swinging from a 1.4% drop at the open which came on top of Monday's 3.2% tumble.
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Firefighters in eastern China have rescued an abandoned newborn baby boy lodged in a sewage pipe directly beneath a toilet commode, state television reported, in a case which has sparked anger on social media sites. There are frequent reports in Chinese media of babies being abandoned, often shortly after birth, a problem attributed variously to
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Fire aboard a Royal Caribbean cruise ship forced it to dock at Freeport, Bahamas, on Monday, with all passengers and crew safe but the rest of the trip canceled, the cruise company reported. Grandeur of the Seas, operated by Royal Caribbean Cruises Ltd, was on a seven-night trip that left Baltimore on Friday. The 916-foot-long
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Texas lawmakers sent Governor Rick Perry more than $1 billion in proposed business tax cuts shortly before the end of the biennial legislative session on Monday and the governor called a special session to address redistricting. The tax-cut package – the final piece of which was approved by the Republican-majority legislature late on Sunday –
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Britain and France are free to supply weapons to Syrian rebels fighting President Bashar al-Assad from August, after attempts to renew an EU arms embargo on Syria failed on Monday. After a marathon negotiating session in Brussels, EU governments failed to bridge their differences and let a ban on arming the opposition expire, with France
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World number one Tiger Woods is to compete in the inaugural Turkish Open in Antalya in November, the European Tour said on Tuesday. The $7 million event at the Montgomerie Maxx Royal course in Belek will form part of the new Final Series on the Race to Dubai, Europe's lucrative end-of-season equivalent of the U.S.
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Hong Kong shares rose on Tuesday with heavyweight China Taiping Insurance surging nearly 12% after it announced a $13.3 bln restructuring plan while its rivals slipped on a downgrade. The Hang Seng Index ended the morning session up 0.1%, while the China Enterprises Index of the leading Chinese listings in Hong Kong rose 0.4%. Hong
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