Cyprus said it will tap two existing bonds maturing in 2024 and 2040 for a minimum amount of €500 mln in a bid to replace more expensive debt expiring by end-2020 with
Cyprus securities regulator slapped a €650,000 fine on Germany’s Commerzbank for its role in transactions carried out by Laiki Bank that collapsed during the 2013 financial crisis. The Securities and Exchange Commission
Around one-third of Cyprus banks’ gross loans had payment deferrals for borrowers affected by coronavirus lockdown disruption, adding credit risk to the banking system, said Moody’s. “Although the payment deferrals reduce the
By Athos Kyranides Small to medium-sized enterprises (SMEs) exposed to the risk that some of the trade debtors will not pay their outstanding balances, resulting in bad debts, can have peace of
By Sandra Nebritova Last week, the Swedish Financial Regulator issued yet another fine to SEB Bank – worth 1 billion Swedish Krona (€95.2 mln), one of the biggest fines in the regulator’s
Brussels has given Nicosia the green light to help out coronavirus-struck airlines flying to Cyprus with a €6.3 mln incentive scheme. The Ministry of Transport announced on Thursday that the state incentive
A spike in Cyprus’ public debt will come down after the coronavirus pandemic eases, but Moody’s said it would consider upgrading the island’s credit rating if the banking sector reduced its toxic
Wizz Air inaugurated on Wednesday its 28th base at Larnaca airport while a third aircraft is expected to start flights from Cyprus in August. Three Wizz Air flights arrived a little before
Suspended loan repayments to banks at the request of borrowers due to the COVID-19 crisis rose 4% to €1.31 bln in early June from €1.26 bln on May 22. According to the
Cyprus has not processed any passport applications of a foreign investor since January, after freezing procedures pending the approval of tougher criteria regulating the Citizenship for Investment Scheme. The new regulatory framework