The Bank of Cyprus said it has signed an agreement for the sale of its assets in Romania, saying it would enhance its liquidity by €95 mln. The bank said it was selling the assets related to Societatea Companiilor Hoteliere Grand S.R.L. (“GHES”), owner of the JW Marriott Bucharest Grand Hotel property to Strabag SE,
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Agriculture Minister Nicos Kouyialis said he is optimistic that the agricultural produce that was to be exported to Russia and has been affected by the embargo imposed on the EU by the Russian Federation will be sold elsewhere, possibly to the UAE and Egypt. Kouyialis said that by the end of next week, traders from
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Euro area trade surplus was €16.8 bln in June, from €15.4 bln in May and €15.7 bln in June 2013, according to Eurostat. The statistical office of the EU said that in June compared with May, seasonally adjusted exports fell by 0.5%, while imports rose by 0.5%. “The first estimate for the euro area (EA18)
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A mere 0.17% of Cyprus GDP was spent on environmental protection activities in industry in 2012, less than half that in other EU countries where expenditure reached 0.39%, the statistical service Cystat reported. “The total expenditure for environmental protection activities in industry in 2012 is estimated at €29.6 mln, which corresponds to 0.17% of the
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Tourist arrivals increased by 5.7% year-on-year in July, the statistical service Cystat said, while Cypriots’ trips abroad were up 11.4% in the same month last year, probably as many did not travel during last year's crisis. The figures for the seven-month period from January to July showed an increase of 5.9%, compared to the same
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President Nicos Anastasiades held a series of meetings with key members of his cabinet on Monday with the aim of seeking consensus among most of the political parties and to get it voted through parliament before the next EU council that will review progress and release the next tranche of bailout money. News reports suggest
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Sweeping changes are in progress in the Ministry of Defence and the National Guard to ensure its efficiency and to combat phenomena such as draft avoidance and nepotism, according to Defence Minister Christoforos Fokaides. He told the Cyprus News Agency CNA in an interview that the geopolitical instability in the region, in combination with Cyprus’
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Cyprus wants the extraordinary Agriculture and Fisheries Council meeting to discuss measures on how to deal with Russia’s ban on EU food products, to take place sooner than on September 5. Agriculture Minister Nicos Kouyialis said that any decision to compensate farmers or grant other financial support can be taken only by the Council of
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. Following the implementation of an economic adjustment programme in a number of EU member states, different countries have adopted different strategies for dealing with non-performing loans. Although originally penned in April, this article, reprinted from Cyprus Property News http://www.news.cyprus-property-buyers.com/ , is worth considering under the present circumstances and talk related to dealing with mortgages.
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The dependence of the bailed-in Bank of Cyprus (BOCY) on the Emergency Liquidity Assistance (ELA) recorded a further decrease to 8.68 bln euros in July from 8.78 bln the previous month, continuing a downward trend recorded in recent months, according to figures released by the Central Bank of Cyprus. The island’s biggest lender has been
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