. 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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**Pharmaceuticals and electronics hold up** The index of industrial production for May 2012 fell by 9.8% over the year earlier in May 2011, with manufacturing declining by 8.4%. However, the overall index hides a strong showing by “Chemical Products and Pharmaceutical Products and Preparations”, which rose by 15.5% compared with May 2011 and electrical equipment,
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Gross output in the hotels and restaurants sectors reached EUR 1.815,7 mln in 2010, up from EUR 1.751,6 mln in 2009 according to the Statistical Service’s annual report entitled Hotels and Restaurants Statistics. The sector’s value added at current market prices increased by 1.9% to EUR 927.8 mln, from EUR 910.2 mln in 2009. However,
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