* Full repayment of ELA within 2017 * Bank of Cyprus net first quarter profits rose to EUR 50 mln due to increased profitability and a momentum in non-performing loan restructurings which exceeded EUR 1 bln. The profit is a turnaround from the EUR 512,000 loss recorded in the last quarter of 2015 and
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The Cooperative Central Bank, the state-owned banking group bailed out with EUR 1.5 bln last year, announced profits of EUR 28 mln for the first quarter ending March 31, mainly due to operational earnings that in Q1 amounted to EUR 42 mln. Compared with the first quarter of 2015, net profits recorded a decline
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Alitalia will resume direct flights to Cyprus on June 8 with twice weekly overnight flights between Rome and Larnaca every Wednesday/Thursday and Saturday/Sunday. The airline, 49% owned by Etihad, said that the new service represents an important launch pad for the further development of trade and tourism as Italy is one of Cyprus’s main
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. Marcuard's Market update by GaveKal Dragonomics By Louis Gave A quick glance through the financial media would lead the casual observer to conclude that the US currency has been, and remains, in a bull market. After all, with the Federal Reserve now supposedly back on a tightening track, how can the US dollar fail
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. By Oren Laurent President, Banc De Binary The US Economy in Perspective The US economy has been performing strongly in 2016, despite its apparent weakness in nominal terms. Compared to the global economy, US economic growth has been stable and consistent. The annualised Q1 gross domestic product growth rate of 0.5% was rather lacklustre,
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The economic sentiment deteriorated in May as the Economic Sentiment Indicator (ESI-CypERC) declined by 2.4 points from April to 109.5 (the same level as in March), as a result of the worsening of business confidence in services and construction, and the weakening of consumer confidence. However, year-on-year, the ESI is still up 5.9 points.
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* NPEs down 3% q-o-q to 58% of all loans * Hellenic Bank announced group net profits amounting to EUR 0.69 mln for the first quarter that ended on March 31, 2016, down from 12.3 mln a year ago, with turnover also down by about 15 mln in the same quarter. According to the
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Cyprus Future, a civic non-party political campaign run by UK Cypriots, has urged Cypriots in Britain to vote against Brexit in the EU membership referendum on June 23. Cypriot people living in the UK are entitled to vote in this referendum as Commonwealth citizens. Cyprus Future is asking everybody in Cyprus to touch base
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Investment funds assets fell to EUR 2.693 mln in March, down 6.7% from December 2015, according to the Central Bank of Cyprus. Total deposits of the 75 locally licensed investment funds amounted to EUR 200.5 mln, compared to EUR 216.7 mln in March 2015. A year ago, total assets owned by the then 78
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The registration of motor vehicles recorded a significant annual increase in the first four months of the year, according to data from the statistical service Cystat. In January-April the total registration of motor vehicles increased by 28.6% to 10,135, from 7,881 in January-April 2015. Of those, 5,435 were new cars and 4,640 used. New
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