. Cyprus has applied for a bailout and representatives from the Troika – made up of the European Commission, the ECB and the IMF are in Cyprus to commence the negotiations leading to the signing of the deal paving the way for a loan package to be provided to Cyprus to rescue its banks and
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. Could it get any worse? Cyprus has lost all credibility within the Eurozone because of the government’s inability to implement strict austerity measures to keep public spending in check. The ruling communist Akel party and the party-appointed administration is trying to deflect all the economic woes and wants to trash the banking sector, which
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. Until recently, the average Cypriot thought that the four most trusted forms of investment was in real estate, government bonds, purchasing the shares and bonds of local banks and buying an investment linked life insurance policy. To be fair, the four trusted pillars of investment – real estate, government bonds, investing in bank financial
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. By Pavlos Loizou MRCIS Lead Consultant, Leaf Research In July 2009, I approached a leading accounting firm with the following suggestion that, in my view, Cypriot banks have the following dilemma when faced with large corporate clients: • When a client starts having problems servicing their loans, the bank has two choices: to continue
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An informative meeting, which aims to promote Cypriot participation in the present and future calls of the European Innovative Medicines Initiative (IMI) project for research, will be held on Tuesday July 3, at the Cyprus Institute of Neurology and Genetics. The meeting is specially addressed to interested parties from the pharmaceutical industry, academia, SMEs, patient
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Developments in the prime property market are “promising”, according to the Cyprus Residential Development – Prime Market Report for 2012 prepared by international consultancy Knight Frank and luxury property developer Cybarco. The report presents the economic environment in Cyprus, which, although affected by the economic crisis, stands at a much better level than other EU
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Interview with General Manager Michel Pecheur: How would you describe your bank? Societe Generale Bank-Cyprus operates as a universal bank, providing to resident and non-resident clientele a full range of financial services, such as corporate banking, retail banking, private banking and customized financial services. Of course, Societe Generale Bank-Cyprus is a relatively small bank in
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The Troika mission to Cyprus (European Commission, ECB and IMF) continues its contacts on the island Thursday and Friday with a series of meetings as part of evaluating the Cypriot economy, following the Republic’s application for financial assistance from the EU bailout mechanism, to negotiate with the government the bailout terms and conditions. The Troika
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StarOil has inaugurated its third petrol filling station in Cyprus and plans to open 12 more for a total network of 15 within the next two to three years. The company’s managing director, George Petrou, said that the new station at at Pera Oreinis, as well as the two previous ones in Avgorou and Trachoni,
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MeritKapital Limited, an investment firm licensed by the Cyprus Securities and Exchange Commission, is providing its clients with direct market access (DMA) to the London Stock Exchange via the SunGard Global Network (SGN) international order routing service. MeritKapital also selected SGN to leverage the network’s international user community and be able to receive order flow
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