By Jameel Ahmad, Chief Market Analyst at FXTM It is difficult to understand how the GBPUSD has sharply transitioned from registering a new 5-year high (1.7189) to recording eight days of successive losses for the first time since May 2010. The pair declined by a further 50 pips and reached a six-week low on Tuesday
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The ink had hardly dried on a deal that will see Bank of Cyprus get a €1 bln capital increase, mainly from foreign investors, and the bank’s CEO announced that the island’s biggest lender will issue €1 bln in bonds some time in September. This follows the Cyprus sovereign’s recent return to the markets with
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. The rate at which Bank of Cyprus is witnessing successive “new eras”, one would think that we are a former Soviet state that has just come out of a rigid economic model and is suddenly embracing the free market system, with suitors lined up to buy anything they can get their hands on. The
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European Young Citizens Initiative Fourteen youth-serving organizations and 250 young people from Italy, Bulgaria, Cyprus, Lithuania, Poland, Portugal and Romania, were involved in the YiA 1.3 “A European Young Citizens’ Initiative” project. The project, funded under the Youth in Action, offered an intercultural platform for dialogue and lively cross-border debate among young people on the
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* Board agrees to 24c offer price * The Bank of Cyprus board decided after a marathon 12-hour meeting on Monday to offer 4.17 bln new shares in a private placement to institutional investors with the aim of raising about €1 bln in fresh capital and boosting its liquidity ratio by more than four percentage
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Emirates, a connector of people and their passions, and Sport Lisboa e Benfica (Benfica), Portugal’s most successful football club, have signed a three-year agreement. Emirates is now the Official Airline Partner of the club until 2016. The deal comes just two years after Emirates began flights to Portugal, and highlights the airline’s on-going commitment to
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The total registrations of motor vehicles during the first half of the year increased by 20.9% to 11,190 in January–June, from 9,258 vehicles in the same period of 2013, according to a Statistical Service report. Private saloon cars increased to 8,414, from 6,627 in January–June 2013, an increase of 27%. Of the total, 4,019 or
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The old shareholders of Bank of Cyprus, who saw their stakes diluted to less than 0.5% last year and new shares issued to depositors in exchange for equity, known as the ‘bail in’, plan to sue the bank and the resolution authorities for their losses and to restore their rights. Heading the association of nearly
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The Cyprus government has decided to stick to the 1980 base value for the immovable property tax (IPT) after it failed last month to push through parliament a revised bill that would see levies imposed on current values. The Tax Department of the Ministry of Finance announced that all companies, organisations and individuals, resident or
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The Bank of Cyprus board decided after a marathon 12-hour meeting to offer 4.17 bln new shares in a private placement to institutional investors with the aim of raising about €1 bln in fresh capital and boosting its liquidity ratio by more than four percentage points. After agreeing on July 15 to seek new investors,
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