* PDMO says demand tops €37 mln, up from €27 mln last month * Demand for 6-year Cyprus government retail bonds shot up to EUR 36.7 mln this month, up from 27.4 mln the previous month, with most of the interest continuing to come from foreign investors. The issue has so far raised nearly EUR
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* Business and consumer sentiment on the rise * The monthly Economic Sentiment Indicator compiled by the Economics and Research Centre of the University of Cyprus saw an improvement of 2.1 points to 105.2 compared to the previous month’s survey. The year-earlier Index was at an all-time low of 88.8 points, following the March 2013
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The draft bill that will regulate the establishment, operation, function, control and supervision of a casino resort has been sent to parliament, after it was approved by the Council of Ministers two weeks ago. The government said that “the relevant regulations have been drafted and, following the completion of legal review by the Office of
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President Nicos Anastasiades plans to send back to parliament a bill approved by the opposition last Thursday that calls for a suspension of the framework law on foreclosures, until the related bill on insolvencies is also tabled. The vote had infuriated Finance Minister Haris Georghiades who chastised deputies for passing such a law that jeopardised
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The government wants to build up its cash reserves from EUR 200 mln at present to about 500 mln by the end of next year, representing half the amount it intends to hold in liquid assets and to reduce the risk factor related to foreign borrowing. In a confidential report to parliament, the Ministry of
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. A lot has been said about ‘public sector reform’ and other ambitious programmes that merely aim to satisfy the wider public opinion that is disappointed, disgusted even, by the incompetence of people in power. The political parties (the idiots with the arrogance to say ‘no’ to the first haircut on deposits in March 2013,
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. By Michalis Sarris, Former Minister of Finance Legacy of the Crisis Some twenty months after the severe blow of the bail-in of bank depositors, economic activity is showing increasing signs of stability, mostly due to the pragmatism and resilience of Cypriots. Although the shock has caused significant damage, the impact has not been as
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. * How to deal with Europe’s ailing economy * George Theocharides Cyprus International Institute of Management There has been a lot of discussion lately in Europe and especially at the European Central Bank for the need (or not) of non-conventional monetary tools to revive Europe’s ailing economy, such as quantitative easing (QE). On the
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Failure of the initial offshore exploratory drilling by an Italian-Korean consortium to find significant quantities of gas should not be a cause for disappointment, President Nicos Anastasiades said after his Cabinet meeting on Tuesday following a three-week absence in New York to fix his heart’s mitral valve. The Energy Ministry had said on Friday that
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President Nicos Anastasiades said on Tuesday that confidence has been restored both in the public sector and in the banking sector. Making his first official statements after resuming office, following a three week absence to undergo a heart operation in New York’s Mount Sinai Hospital to repair his mitral valve, the President said: “The government
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