. By George Theocharides Associate Professor of Finance and Director of MSc in Finance & Banking, CIIM In the last couple of weeks we have experienced another unfortunate event in the ongoing (and expanding) list of Cyprus’ financial troubles, namely the substantial loss of wealth of a number of our fellow citizens from their investment
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. The Internet and joining the EU common market have allowed for the holiday home business to flourish in Cyprus, becoming the main driving force for the developers to build more and sell more. The buyers are often European expats and some Cypriots who want to invest in a retirement home and rent it out
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. By Shavasb Bohdjalian Certified Investment Advisor and CEO of Eurivex Ltd. As the negotiations with the Troika representatives start in earnest to decide on the price tag of the bailout that Cyprus will eventually request from EU funds/organisations and the IMF, the nation as a whole should realize that there are two strategies to
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Footage showing the apparent execution of four men loyal to President Bashar al-Assad and piles of bodies of government militiamen in a police station suggest that rebels are using the same tactics for which the Syrian leader's own forces have been condemned. A video on YouTube shows four purported militiamen being led into a crowded
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Turkey's army staged tank exercises near the Syrian border on Wednesday, media reports said, in a move highlighting Ankara's unease about security on the frontier as the conflict widens on the other side of its southern border. The exercises were held after a series of Turkish military deployments to the area prompted by the spiralling
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Greece's third largest lender Alpha Bank on Tuesday offered to buy local rival Emporiki from France's Credit Agricole, heralding a long-awaited consolidation in the battered sector. Alpha's announcement comes days after rival Piraeus took over the healthy part of ailing state lender ATEbank, which the state had been under pressure to sell off as part
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Greece is considering issuing more treasury bills in August as one of the options to cover a funding squeeze this month, a senior finance ministry official told Reuters on Wednesday. Cash-strapped Greece is due to run out of cash within weeks if it does not get the next aid installment from its international lenders. It
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* Trade union, leftist opposition against deal * Piraeus Bank's plan to take over the healthy chunk of ailing state lender ATEbank boosted its shares on Monday as the deal will benefit its balance sheet, help it cope with a debt crisis and make it Greece's second largest bank by assets. Piraeus, the country's fourth
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The Cyprus government aims at concluding a deal with the Russian Federation on a second bilateral loan agreement “the soonest possible”. Acting Government Spokesman Christos Christofides said the issue was “delicate” and noted that publicity could harm the process, while it is still ongoing. Asked whether there is a deadline for concluding the deal, estimated
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International lenders negotiating a bailout for cash-strapped Cyprus are likely to seek cutbacks in its public payroll and some increases in taxation, the Cypriot finance minister said on Tuesday. Officials from the International Monetary Fund, European Commission and European Central Bank held inconclusive talks in Cyprus last week. Cypriot officials said discussions would continue, with
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