Cyprus banks are now able to sell-off foreclosed properties online as the Minister of Finance Harris Georgiades issued a decree allowing electronic auctions. Online auctions was a key demand from the banks
The pound and UK financial assets will be volatile in the run-up to Britain’s first December general election since 1923 – and will remain so in the event of another hung parliament.
By Han Tan, Market Analyst at FXTM Asian stocks were mixed early Friday after China’s Caixin manufacturing PMI data for October came in at a better-than-expected 51.7, marking three consecutive months of
The European Stability Mechanism approving Greece's early repayment of around €2.7 bln of its roughly €8.4 bln of outstanding debt owed to the International Monetary Fund will improve Athens’ credit metrics, said
Cyprus' unemployment rate recorded the second largest annual drop in the EU in September decreasing to 6.6% from 8% a year ago while in August it was 6.8%. The largest decreases was
The island’s largest lender, Bank of Cyprus announced it has approved the voluntary exit of some 470 employees at the cost of almost €80 mln. It said 470 employees have opted to
By Hussein Sayed, Chief Market Strategist at FXTM After cutting interest rates for a third time on Wednesday, the Federal Reserve Chairman Jerome Powell said he believes “monetary policy is in a
Parliament is set to pass an amendment to the rent control law next month that would make it easier for landlords to evict tenants who fall into arrears or deliberately don’t pay.
Cyprus’ ESTIA scheme subsidising borrowers with toxic mortgages is failing to generate the expected interest with less than 3% of loan defaulters applying for government help. ESTIA was launched in September in
As borrowing has become cheaper, Finance Minister Harris Georgiades said a process has been launched for the early and full repayment of an IMF loan after settling a €2.5 bln loan from
