RCB has successfully completed the sale of Tranche B of its performing loan portfolio worth €356 mln to Hellenic Bank as it ceases banking operations. Tranche B regards Cypriot and other European exposures with a gross book value of €64 mln. The total of the performing portfolio of RCB has now been sold to Hellenic
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President Nicos Anastasiades has chosen former government spokesperson and close associate Kyriacos Koushos to lead the Labour Ministry following the untimely death of Zeta Emilianidou earlier this month. Koushos, who was serving as the president’s undersecretary, will be succeeded by the Director of the President’s Office, Petros Demetriou, said government spokesperson Marios Pelekanos in a
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A passenger ship is on course for Pireaus, Greece, after the route was launched from Limassol for the first time in over two decades. Sunday’s relaunch of the ferry link between Cyprus and Greece comes 21 years after it was abandoned. Deputy Minister of Shipping, Vassilios Demetriades, expressed his satisfaction with the services available to
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Breakaway Turkish Cypriots are responsible for stemming migrant arrivals, a senior European Union official said, as the number of asylum-seekers the Republic receives soars. European Commission Vice President Margaritis Schinas said that Turkish Cypriot authorities should also do their fair share in tackling the problem. “We won’t let the Turkish Cypriot community to consider itself
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By Jeffrey Halley The “R” word is being used more and more as recessionary winds start blowing loudly through economic data and the price actions across the asset class spectrum. On Friday, US manufacturing and industrial production data were soft, following weaker US retail spending and housing market data. Even oil prices cracked under the
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You know the world is in turmoil with the war in Europe, tempers frayed in the Aegean, the cost of living is no longer sufferable, and climate change will fry us all. The climate emergency may be the last of our worries if the war in Ukraine spreads across the continent as Russia becomes more
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Real estate agents in Limassol and Paphos are reporting the highest demand from foreign buyers and Cypriots for homes since 2020 when the government ended the disgraced citizenship for investment scheme. The boom is amid a global crisis, with the war in Ukraine raging and sanctions hitting Russian investors, who up to 2020 were the
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The biggest zoo park in Nicosia has a long history dating back more than three decades. It is located in Ayious Trimithias and was created out of the vision and love of a single man, Menelaos Menelaou. He launched a small bird collection as a young boy who invested his savings while working as a
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Despite being battered by two years of the pandemic, Cypriot football has emerged fairly unscathed from the coronavirus crisis and back to making serious cash, according to the Cyprus Football Association. CFA boss George Koumas told a conference on the finances and future of Cypriot clubs that the topflight’s turnover is around €60 mln. He
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During her brief visit to three strategic states this week, vital to the European Union’s energy security and supply, the EU Commission President had a lot to say, directed to many, at home and abroad. She emphasised the crucial role being played by the “abundance” of solar and wind energy that Israel, Jordan, and Egypt
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