The hijacker of an EgyptAir Airbus A320, who surrendered to Cyprus authorities after a 7-hour ordeal on Tuesday, could face a life sentence, court reports said in Larnaca where the 59 year old was held on an eight-day remand order on Wednesday. Seif el-Din Moustafa-Eman, an army veteran who had separated from his Cypriot
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Persistently low oil prices continue to pressure the funding environment for banks across the Gulf Cooperation Council (GCC) countries, Moody’s Investors Service said in a report. The impact of low oil prices on GCC banks’ stand-alone profiles has so far been most acute in terms of more challenging liquidity conditions, reflecting increasing government borrowings,
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The Ministry of Energy, Commerce, Industry and Tourism announced the call for tender for the development and operation of the Science and Technology Park at Pentakomo, near Limassol. The tender, the third time the government is offering it, is published on the e-Procurement Platform and requests proposals from interested strategic investors for the leasing of
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Bank of Cyprus announced that it has reached an agreement Armonia Estates, Pandora Investments, Leptos Calypso Hotels and other Leptos Group subsidiaries for the restructuring of loans worth some EUR 100 mln. The agreement include the restructuring of the terms of the loans of the Leptos Group through the extension of their maturities, the
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European Parliament President Martin Schulz said he was optimistic that “one day soon” Cyprus will be reunited, pointing out that nothing is easy but everything is possible. Addressing an official dinner hosted by President Nicos Anastasiades in Nicosia, Schulz said that he was in Cyprus “to express on behalf of the members of the
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. By Oren Laurent President, Banc De Binary Good Friday and Easter Monday put the brakes on global trade in equities, currencies, commodities and indices. Trading activity on Wall Street ended early on Thursday afternoon with the Dow Jones Industrial Average closing at 17,515.73 (+13.14) for a gain of 0.08%. For the past year, the
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By Lukman Otunuga, Research Analyst, FXTM An air of uncertainty ripples across the financial markets ahead of Tuesday’s heavily anticipated speech from Federal Reserve Chair Janet Yellen which may provide some clarity on the number and timing of US interest rate hikes this year. This speech comes at a time when market participants have been
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Larnaca airport was shut down early Tuesday after a hijacked EgyptAir flight with 62 passengers and crew on board landed at 8.50am, with all other flights diverted to other airports. Reports suggest there are more than one hijacker. State CyBC reported that a number of passengers, estimated at 50, were seen disembarking the Airbus A320
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* €20 mln finance line to facilitate foreign trade * The European Bank for Reconstruction and Development (EBRD) is stepping up its support to Cypriot exporters and importers with a EUR 20 mln trade facility to Hellenic Bank under the EBRD’s Trade Facilitation Programme (TFP). Hellenic Bank will become the third issuing bank under the
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Geoff Barnes, CEO of Baker Tilly International, inaugurated the new building of Baker Tilly Greece, saying that the firm enjoyed balanced growth and development of specialised professional services. Marios Klitou, CEO of Baker Tilly South East Europe, highlighted that Baker Tilly Greece is committed to providing high quality professional services, and said that “twenty
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