* ‘Credit negative’ says Moody’s * Spain’s (Baa2 positive) inconclusive parliamentary election has increased political uncertainty and raised doubts about the future government’s ability and willingness to continue with structural reforms and fiscal consolidation, a credit negative, Moody’s Investors Service said in a comment. Forming a new government is likely to be difficult
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. The Risk Watch Column By Dr Alan Waring ‘Honi soit qui mal y pense’. This Old French motto meaning ‘may he be shamed who thinks evil of it’ is written into the coat of arms of Her Britannic Majesty’s Government on the front cover of every British passport. The motto implies that it is
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. The delay to appoint a new leadership at the state-rescued Cooperative Central Bank is causing the greatest harm and fuelling rumours, once again, as depositors and ordinary folk are worried and considering removing their savings from the institution. Although Chairman Nicholas Hadjiyiannis took off one hat and put on another, that of CEO
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. By Andrestinos Papadopoulos, Ambassador a.h. Earlier this year, the western media made a big issue about the working conditions for thousands of foreign workers employed in constructing stadia for the 2022 football World Cup in Qatar. In an interview published in the Sunday Mail on April 19, the Qatari ambassador to Cyprus, Hussain
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. By Oren Laurent President, Banc De Binary The global economic landscape presents myriad opportunities to traders and investors. Already, history has been made with the first Federal Reserve rate hike in nine years. The 0.25% increase in interest rates now brings the Fed Funds Rate to 0.50%, with further upward momentum expected to drive
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Bank of Cyprus officials have said that the lender has concluded about 80% of is targeted restructuring of non-performing loans and that the aim is to close the year with EUR 1 bln worth of bad loans. To date, some EUR 3 bln of bad loans have already been restructured, almost half of its target,
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The negotiators of the Greek Cypriot and the Turkish Cypriot sides, Andreas Mavroyiannis and Ozdil Nami, concluded their meetings for 2015 with a discussion on the criteria relating to the property issue. They talked at length about property, one of the core issues of the Cyprus problem, and about the planned meetings of the
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Investigations into the collapse of the economy are progressing steadily in a way that could be held up in court, Justice and Public Order Minister Ionas Nicolaou said. “Investigations are progressing steadily in order to be fully completed in a way that could be substantiated in the courts”, he said assuring that upon completion, the
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The Transport Ministry will send the final documents of the tender for the privatisations of the commercial activities of the Limassol Port and the binding bids will be submitted by January 19, the Ministry’s Permanent Secretary Alecos Michaelides said. The tenders cover three potential services concessions namely the container terminal, marine services and the multipurpose
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Non-performing loans (NPLs) at Cypriot banks decreased in September, Central Bank figures showed on Monday. The Non performing Exposures (according to ECB definition) decreased slightly in September to EUR 27.329 bln from EUR 27.379 bln in August, representing 47.79% of total loans. Restructured loans amounted to EUR 13.95 bln, of which EUR 10.40 bln are
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