The Cyprus public deficit shrank in 2013 compared to 2012, while the public debt increased, according to Eurostat’s first notification regarding the fiscal performance of EU member states for 2013. According to EU data, the public deficit in Cyprus in 2013 was around €897 mln or -5.4% of GDP, while in 2012 it had risen
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Low-cost carrier easyJet announced that all passengers are now allowed to use their personal electronic devices and mobile phones onboard in ‘flight mode’ throughout the flight including take-off and landing. Up until now, passengers had to turn their devices off for both periods during the flight, and the change comes after recent recommendations from the
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. Marcuard's Market update by GaveKal Dragonomics Investor enthusiasm for government debt from the eurozone’s southern periphery persists unabated. Last week the yield on Spanish 10-year bonds dropped to its lowest level since September 2005. Before too long, however, investors will find themselves bumping up against some hard truths imposed by simple accounting identities. As
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. By Oren Laurent President, Banc De Binary The rivalry between the U.S. and China, two politically-opposed world superpowers, is well known. So what happens when the countries share an economic goal? In its twice-yearly report to policymakers in Congress, the U.S. Treasury pointedly stated that the Chinese yuan is “significantly undervalued” and that a
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. The power struggle at the Bank of Cyprus is not doing anyone any good and both the chairman and CEO ought to rethink their whims and get (back) down to work. Soon after John Hourican was head-hunted and subsequently appointed, the new chief executive took over from where his interim predecessor had left off
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The earnings of SME’s (Small and Medium Enterprises) in Cyprus were significantly reduced this Easter, compared with previous years with the exception of food and essential consumer goods, according to the organisation of small shop owners (POVEK). The Secretary General of POVEK Stefanos Koursaris told the Cyprus News Agency that even these reduced earnings were
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Bank of Cyprus announced on Friday that it had completed the sale of both its Ukrainian business and stake in the Romanian Banca Transilvania as part of its overseas deleveraging process. Both transactions have been achieved ahead of plan, contributing to a further de-risking of the bank’s balance sheet and enhancement of its liquidity position,
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2013 was a record year from a transaction perspective with 64 bln euros of Europe’s non-core loans sold as part of portfolio transactions last year, a 40% increase on the previous year, according to PwC’s latest market update. Increased activity levels were mainly driven by the UK and Ireland, along with Spain and Germany. “We
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The Nicosia District Officer announced that the draw took place on Tuesday to select electoral officers and assistants who will man the various polling stations during the European Parliament elections on May 25. The process was limited to unemployed university graduates who will be trained and paid for the day’s work. As was expected, the
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Draft rules to ensure that harmful psychoactive substances, known as "legal highs", are withdrawn rapidly from the EU market were approved by Parliament on Thursday. MEPs sought to protect the health and safety of young people from these drugs, whilst ensuring that trade in lower risk substances for industrial and commercial use is not hindered.
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