Piraeus Bank, Greece's fourth-largest lender with a significant branch operation in Cyprus, on Wednesday reported a first-half net loss of 820 mln euros ($1.18 bln), hurt by an impairment charge from a planned Greek government bond swap. The bank said before taxes it lost 1 bln euros in the first half after taking into account
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National Bank of Greece made a first-half net loss of 1.31 bln euros after taking provisions for a government debt swap. The group said the impact of its participation in a voluntary swap of Greek government bonds (PSI), aimed at relieving the country's debt burden, would be 1.645 bln euros. Excluding this provision, net first-half
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Marfin Popular Bank has completed an issue of 200 mln euros in covered bonds with an annual interest rate of 3-month euribor plus 2%. Marfin said the issue was completed on Friday. The covered bonds have a maturity of two years and an extension period of one year. The issue was completed under the group's
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Ester Levanon, CEO of the Tel-Aviv Stock Exchange, will be the main speaker at the annual business lunch hosted by Cyprus-Israel Business Association and the Embassy of Israel in Nicosia at the Hilton Hotel at 1 pm on Monday. Levanon is credited with turning the TASE into a state of the art Exchange, offering fully
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Paphos is getting ready to host the 13th annual opera at the medieval castle this weekend with the National Theatre of Prague performing Jacques Offenbach’s “The Tales of Hoffman”. The harbour area is closed and has been transformed into an open-air stage to host the opera on September 2, 3 and 4. Ahead of Thursday’s
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The fifth annual Cyprus-Russian Gala will be held on the grounds of the University of Cyprus next Wednesday, September 10, with the participation of fine musical talents from Cyprus and Russia. This year’s event, which is being held in cooperation with the Ministry of Education and is under the patronage of First Lady Elsie Christofias,
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Republican White House hopeful Michele Bachmann insisted on Monday she was joking when she said a hurricane and quake were God's warning to Washington, in an effort to control the damage from her latest controversial comments. The Tea Party favorite raised eyebrows with a weekend remark to supporters in Florida that Hurricane Irene, which killed
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Saudi Arabia is excavating a new archeological site that will show horses were domesticated 9,000 years ago in the Arabian peninsula, the country's antiquities expert said Wednesday. The discovery of the civilization, named al-Maqar after the site's location, will challenge the theory that the domestication of animals took place 5,500 years ago in Central Asia,
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Google Inc's board of directors faces a lawsuit for previously allowing Canadian pharmacies to advertise prescription drugs to U.S. customers via the Web search leader. The civil lawsuit, filed on behalf of a Google shareholder on Monday, claims the ads — which Google stopped displaying in February 2010 — led to what it calls the
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The number of trips by residents abroad fell in July according to the Passengers Survey by 2.5%, to 135,397 compared with 138,801 in July 2010. This was after an increase of 1.2% in June but a drop of 7.8% in May. There was a fall of 1.9% in the number of trips to the most
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