Investment funds (IFs) in Cyprus have increased over time, the Central Bank of Cyprus said in its first quarterly statistics on the sector, with their assets nearly double in March this year from the same month last year. “The importance of the sector in the Cyprus economy has increased over time, with the number of
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The Cyprus Foreign Ministry has dismissed press reports of allegations of an import of 4,603 tonnes of barley originating in Crimea on June 23. The Ministry said that investigations conducted by the authorities "revealed that there was no import of cereals originating in Crimea into the Republic of Cyprus". The announcement points out that the
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The German parliament (Bundestag) has decided to expand its International Parliamentary Scholarships (IPS) scheme to include Cyprus, Greece, Turkey and the countries of the Arab Spring. According to the Bundestag website, the IPS programme aims at highly qualified young men and women who are interested in politics and who wish to play an active and
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The Central Bank of Cyprus issued an announcement late Monday saying it had issued a decree by which it has placed the Cyprus branch of FBME Bank Ltd. under a state of resolution. “The purpose of the decree is the sale of the operations of the branch with the aim of the protection of depositors,”
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New US-imposed sectoral sanctions on a number of Russian entities on July 16, including oil and gas companies Rosneft and Novatek in connection with the escalation of the crisis in Ukraine, will effectively prohibit the two and other sanctioned entities, including Russian banks and defence companies, from procuring financing and new debt from US investors,
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An emergency meeting has been called at the Ministry of Finance where Haris Georghiades is discussing last-minute changes to the repossessions bill, which is being demanded by the Troika of international lenders in order to help relieve banks from non-performing loans (NPLs) and for the fifth review of the bailout agreement to be concluded. Georghiades
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The Electricity Authority of Cyprus (EAC) website www.eac.com.cy has been upgraded with a new appearance and new functionality aimed to improve customer service with up-to-date public information, such as faults and scheduled interruptions of supply, just as it would get from national-number Customer Contact Center. The website now has a “Sign in” feature where the
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Etihad Airways, the national airline of the United Arab Emirates, will launch six new routes in the first half of 2015, offering even more choice and improved connections to travellers worldwide. Daily flights will commence to Madrid (Spain) and Edinburgh (Scotland) next year, together with the historic state capital of Kolkata (India) and one of
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The Central Bank of Cyprus (CBC) announced that it has taken over the management of the operations of the branch of the Federal Bank of the Middle East (FBME), following allegations money laundering by a financial crime unit of the U.S. government. The CBC noted that "under the powers conferred to it
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President Nicos Anastasiades has stressed that the island’s current division, as a result of the continuing Turkish occupation since 1974, must not be allowed to become permanent. But he is also optimistic of the benefits that could derive from a solution. He also said that the tragedy of the invasion must not be allowed to
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