Cyta Hellas, the wholly-owned subsidiary of the state telco Cyta that is slated for privatisation, reported a turnover of €90.49 mln for 2014, with gross profits at €29.44 mln, up from 26.28 mln the year before. With earnings before interest, tax, depreciation and amortisation (EBITDA) rising to €2.08 mln, pre-tax profits were significantly reduced by
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RCB Bank, the Limassol-based private bank that passed the ECB’s stringent stress tests in October 2014, plans to expand its presence on the island by providing more corporate lending. Speaking during a business event held at the Leventis Gallery in Nicosia where Nobel economics laureate Christoforos Pissarides was the keynote speaker to an audience of
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Written by Jameel Ahmad, Chief Market Analyst at FXTM Gold continues to exploit the current mixed sentiment towards the dollar with the metal having now advanced by nearly $20 this week to $1185. While the NFP last week once again highlighted that job creation is the star performer in the US economy with gold consequently
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. By Oren Laurent President, Banc De Binary In the world of macroeconomics, the rise of the US dollar is as game changing as a penalty in the last minute of a closely tied football match. In just one year, the US dollar has leapt up in value over 19% against the Euro. It’s back
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. Marcuard's Market update by GaveKal Dragonomics There are two big facts about China today. One: its economy is slowing, and will almost certainly continue to do so for the next couple of years. Two: under its forceful president Xi Jinping, it is making a big push on many fronts to increase its influence around
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. By Antonis Loizou F.R.I.C.S. – Antonis Loizou & Associates Ltd – Real Estate & Project Managers Ever since the University of Cyprus was established, I have opposed the use of Greek instead of English as the main language of teaching. Because of this foolish sense patriotism from the days of the Clerides presidency, this
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* Anastasiades and Akinci ‘at home’ in Limassol for theatre * Similar to the mood of confidence in the financial sector, where rating agencies have revised upward the Cyprus sovereign and bank ratings, the Sapienta Country Analysis monthly report has revised up the prospects of a Cyprus settlement to 35%, encouraged by the efforts of
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* Progress on NPLs, privatisation and foreign investment could provide support to the ratings * DBRS, Inc. has confirmed the long-term foreign and local currency issuer ratings for the Republic of Cyprus at B (low). The rating agency has also confirmed the short-term foreign and local currency issuer ratings at R-5, with the trend on
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MeritKapital Ltd., a Limassol-based licensed investment firm, has received an investment service extension from CySEC for the provision of 'Underwriting of financial instruments' for both a firm and soft commitment capability. The fourth quarter of 2014, as well as the first two quarters of 2015, have proven to be economically challenging for Cyprus-based financial services
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Seasonally adjusted GDP rose by 1.6% during the first quarter of 2015, compared to the previous quarter, while in both the euro area and the EU28 GDP rose by 0.4% during the same period, according to Eurostat. In the fourth quarter of 2014, GDP also grew by 0.4% in the euro area and the
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