Limassol-based RCB Bank, one of four systemic banks in Cyprus that passed the ECB stress tests last October with flying colours, has opened a new branch on the Limassol waterfront, which has been designated as the flagship branch for its domestic corporate and retail clients. The Molos Limassol branch raises the total number of branches
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By Lukman Otunuga, Research Analyst, FXTM A sense of optimism has spread across the financial markets ahead of the awaited FOMC statement on Thursday, as gains were viewed across the board. China, although still the main theme, has been shifted to the side whilst market participants ponder on whether US rates will be left unchanged
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. “While a key objective of the bail-out was to avert a financial crisis in Europe, it also provided financing for a primary deficit in the transition to a balanced budget” By Michalis Sarris This year marks the fifth anniversary of the acrimonious period in the Eurozone when Greece’s admission of gross violation of the
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. By Oren Laurent President, Banc De Binary Global analysts are going to be glued to economic indicators in the run-up to the September 16-17 Fed FOMC meeting. What is being billed as possibly the most important economic announcement out of the US for the year has pundits split down the middle. The issue of
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Andreas Chrysostomou, Acting Director of the Department of Merchant Shipping said that the government has already started the implementation of a study for the future of shipping in Cyprus, commissioned by the Ministry of Transport and Communications to enhance the competitiveness of the maritime sector. He said that the political will exists to develop and
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Shipping and ship owner’s associations have called for “more Europe” including the creation of a common regulatory system and completion of the single market. Speaking at the Maritime Cyprus conference in Limassol, Thomas Rehder, President of the European Community Shipowners’ Association said that “as long as shipping is not as easy and straight forward as
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A solution of the Cyprus problem will open new prospects for ships flying the Cypriot flag, President Nicos Anastasiades said in his address to the dinner hosted by the Cyprus Ship-Owners Association at the Presidential Palace on Monday. Anastasiades spoke of the ongoing talks with Turkish Cypriot leader Mustafa Akinci which aim to reunify the
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Cyprus aims to attract Chinese high tech giants to invest in the first science and technology park in Pentakomo, near Limassol, while the two countries are working to promote the basis for bilateral cooperation between universities, academic institutions and companies. The Energy and Trade Minister Giorgos Lakkotrypis and the Chinese Minister of Science and Technology
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The focus right now in the Cyprus peace talks is on building economic support for a settlement, Special Adviser of the UN Secretary-General on Cyprus Espen Barth Eide said, speaking after visiting President Nicos Anastasiades on Tuesday. He described Monday’s meeting with Anastasiades and Turkish Cypriot leader Mustafa Akinci as very good, noting that he
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The so-called “Lagarde list” of Cypriot individuals and companies with deposits in the Swiss branch of HSBC bank, as received by the Cypriot authorities from France, contains 490 names, Finance Minister Harris Georgiades told the Parliament, adding that the government is determined to deal with this issue. The issue was discussed in a joint session
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