Moody’s has changed the outlook on the Cypriot banking system to ‘positive’ from ‘stable’ as the sector is set to return to modest profitability and improve their weak asset quality. “After five years of losses, we expect banks in Cyprus to be profitable in 2016 and foresee a modest 0.3-0.5% return on assets,” said
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. Marcuard’s Market update by GaveKal Dragonomics By Nick Andrews Backward-looking data has held up surprisingly well in the UK since June’s Brexit vote. It is not that second quarter GDP growth came in ahead of expectations at 0.6% QoQ; only one week of 2Q fell after the referendum. However, despite dire warnings of the
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. The Risk Watch Column By Dr Alan Waring With the 2013 financial crisis in Cyprus, the intervention by the Troika (EU, ECB and IMF) brought not just a last minute rescue but also heralded the wholesale reform of Cyprus’s financial institutions, economy, government structures and ways of doing things. The Troika’s message was that
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. Five weeks after the relevant bill passed through parliament, the Department of Social Insurance announced that it is now accepting applications from companies and self-employed individuals to repay their social insurance dues in installments. The scheme is open up to the end of November, after which all applications will be rejected. According to
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GDP increased by 1.2% (year-on-year) in Q2 2016 * GDP increased by 1.2% (year-on-year) in Q2 2016 * By Oren Laurent President, Banc De Binary Real GDP in the US was reported at a rate of 1.2% in Q2 2016, according to the BEA (Bureau of Economic Analysis). Q1 GDP growth (year-on-year) increased at a
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* Achievements and highlights during 10 years of The Cyprus Institute * By Prof. Costas N. Papanicolas President of The Cyprus Institute www.cyi.ac.cy The Cyprus Institute is celebrating the tenth anniversary since its foundation in 2005. The Institute, which began operating at the end of 2007, has focused on cutting-edge research topics and strategic partnerships
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* New report proves positive impact of ERC research * The European Research Council (ERC) announces its 2017 grant competitions with a total budget of around EUR 1.8 billion, the highest ever since the ERC's inception in 2007. It is also the record ERC annual funding reserved for young researchers with two to seven years
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* Productivity growth outstripped Germany, France and the Netherlands, say PwC economists * Eurozone real GDP per hour worked – a measure of labour productivity – grew at a rate of around 2% in the three years to 2015. And a closer look at the data shows that Ireland has been the top performer
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Israel has a strong interest in the resolution of the Cyprus problem, since this would greatly facilitate the pace of development for future energy projects, President Nicos Anastasiades and the Prime Minister of Israel Benjamin Netanyahu underlined in a joint statement, following their meeting on Sunday. “In the context of the exploration and development
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. Meeting with trade union leaders overt the past few weeks, Finance Minister Haris Georghiades should not give in to their demands, which have resumed, just because we seem to have exited the bailout MoU and now there is no Troika around. However, it was these mistakes of the past (the automated cost of living
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