Woodbrook Group, a Cyprus-headquartered firm of financial consultants with offices across the globe, will soon make an announcement foreshadowing significant growth. Woodbrook, under partnership with Inter-M Traders Ltd and/or its affiliates headed by Demetri Michalakis and his team, has purchased a company in the US as it prepares an RPO in advance of preparing for
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The International Monetary Fund has estimated the fiscal cost of the sale agreement of the Co-op’s good asset portfolio to Hellenic Bank at EUR 3.5 bln, equivalent to 17% of Cyprus’ GDP. Calculating the immediate and possible cost to the taxpayer, the IMF considered bonds and cash given by the state to support the ailing
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Baker Tilly International, a leading firm of auditors, accountants, tax consultants and business advisors operating in 147 countries, proudly presented their new logo, visual identity and their new goal ‘Now for tomorrow’ at events held globally, including their Cyprus offices. “Aimed at strengthening and modernising how we represent our network to clients, our people, our
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Bank of Cyprus has sold 35 properties to mainly foreign buyers, yielding some EUR 450 mln while unloading non-core assets and contributing to jump-starting big development projects. Each property is worth tens of millions of euros, with the majority being sold to foreign investors who took advantage of the crisis that hit the island, as
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Marriott International’s revelation that the Starwood guest reservation database had been breached, potentially affecting up to 500 million guests is a credit-negative event, Moody's said. “The key risks to the breach include the potential for direct costs associated with the investigation, as well as any litigation or liability that Marriott may have with respect to
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Hellenic is looking into the possibility of not having to increase its capital after all, as it is argued the negative goodwill resulting from the good assets acquisition of the Co-op Bank changes the bank’s capital needs. Hellenic Bank had assigned PwC with the task of identifying how much the negative goodwill actually is and
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Cyprus Post Offices will be delivering children’s letters to Santa Claus again this year and sending back his replies. This year Cyprus Post supported by CYTA which has set up an online service for children wanting to send a Christmas wish list to Santa. All parents have to do is post the little ones’ details
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Cyprus has to further bring down its high NPLs ratio and its bulging public and private debt, the International Monetary Fund Executive board concluded after its consultation with Cypriot authorities. “Private and public debt remain large while NPL ratios are still among the highest in Europe. They encouraged the authorities to make further efforts to
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Cypriot Defence Minister Savvas Angelides is in Cairo to attend the opening of military expo "EDEX-2018" and take part in a trilateral ministerial meeting of Cyprus, Greece and Egypt. Angelides was invited to the Egyptian capital by his Egyptian counterpart, General Mohamed Zaki to attend the first ever "EDEX- 2018" expo to be opened by
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Cyprus’ population grew older between 2000 – 2017, while the fertility rate dropped further to 1.32 last year, well below the replenishment level of 2.10 needed, according to the latest demographic report. The population in the government-controlled areas stood at 864,200 at the end of 2017, compared with 854,800 in 2016, recording an increase of
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