Bank of Cyprus CEO John Hourican, who leaves his post at the end of August after a tumultuous almost two years, has won the Euromoney Award for Excellence as ‘Banker of the Year 2015’. Having left RBS’ investment banking unit in February 2013, he was head-hunted by the then board of the Bank of Cyprus
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Nicholas Hadjiyiannis has stepped down as Chairman of the state-rescued Cooperative Central Bank and has taken up the post of the bank’s new CEO after Marios Clerides resigned on June 22, half-way through his contract. Clerides’ resignation fuelled rumours that he may have been groomed as the next Governor of the Central Bank of Cyprus,
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Ifo President Hans-Werner Sinn and his future successor Clemens Fuest have warned against extending emergency liquidity assistance (ELA) to Greek commercial banks as of Monday. The emergency credit line now stands at 89 bln euros, the same level as at end-June. “The amount of ELA credit that has been used since the beginning of the
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‘Empower, Motivate, Connect’ were the key messages of AIPFE Cyprus-Women of Europe at the presentation of the organization’s vision on July 1, at the Old Powerhouse, in Nicosia. The event was attended by over 140 women and men from the business, entrepreneurship, political and civil society arenas, including former Minister Claire Angelidou, MP Roula Mavronicola,
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Following 17 years of success, the ‘Pafos Aphrodite Festival’ has claimed pride of place as one of the most highly anticipated events of the year, having firmly earned its reputation as a cultural highlight on the annual agenda. To date, the festival has given audiences the opportunity to watch great performances from world renowned operas,
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. Marcuard's Market update by GaveKal Dragonomics Amid all the talk of contagion and demonstration effects emanating from Athens, there is a straight forward question that concerns investors whose domain spreads beyond the lapping shores of the Mediterranean: is the Greek crisis, at its root, inflationary or deflationary? Given talk of new currencies being launched,
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. This article concerns Greece's potential accession to the New Development Bank established by the BRICS and examines whether BRICS Bank provides an alternative for Greece to rescue its economy in such a crucial moment of negotiations among Greece, the EU and the IMF. By Konstantinos Myrodias and Panos Chatzinikolaou Over the past few weeks,
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As the Honorary Benefactor of this year’s Cyprus-Russian Festival, which took place on the 6th and 7th of June in Limassol, the Andrey and Julia Dashin’s Foundation made generous contributions to two local charitable organisations that are renowned for their positive impact on the community they serve. Andrey Dashin, co-founder of the Foundation, in the
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. By Costis Stambolis As thousands of young Greeks were celebrating last Sunday in all-night jubilations and street dancing the country’s resounding rejection of creditors’ bailout demands, in a nationwide referendum, where the “No” vote attracted more than 61% of votes cast, economic conditions continued to deteriorate. With the banks closed since June 29, and
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. The Risk Watch Column By Dr Alan Waring The theatricals and melodrama of the current Greek crisis mask a far more serious issue than mere political entertainment. The self-created sequence of threats to Greece, i.e. sovereign debt default, bankruptcy, Eurozone exit and relegation to the status of economic and financial backwater, if not international
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