Emirates, has appointed Mustafa Ahmed Al Jabri as the new country manager for Cyprus. Mustafa joined the Dubai-based airline in 2005 as a management trainee, two years later he began working as the commercial manager for India, based in Mumbai. This was followed by appointments as Country Manager in Oman, Iran, Syria and most recently

Fitch Ratings has maintained the `B` rating of the mortgage covered bonds issued by Bank of Cyprus on Rating Watch Negative (RWN), although the covered bond programme benefits from an IDR uplift of `1`. According to Fitch, the RWN reflects the uncertainty around the direction of the bank`s IDR and the impact of the current

The Board of Directors of the European Stability Mechanism (ESM), which convened in Athens, approved today the disbursement of €150 million to Cyprus, following the positive assessment of the third quarterly review of Cyprus’s macroeconomic adjustment programme. “This disbursement marks another successful completion of the review and the authorities’ commitment to the programme. It is

By George Mouskides General Manager, FOX Smart Estate Agency Licensed Estate Agent, US Certified Public Accountant During the negotiations with the Troika the Cypriot government undertook to amend the foreclosures law by June 30, 2014, so that mortgaged properties with loans not being paid (non-performing loans) go under the hammer in a period of 18

Cyprus President Nicos Anastasiades meets in Brussels, on Wednesday, with UN Secretary General Ban Ki-moon. Their meeting takes place on the sidelines of an EU – Africa Summit, an official press release says. President Anastasiades, who departed for Brussels on Wednesday morning, meets with Ban at 1930 Cyprus time (1630 GMT). He then travels from

By Stavros Zenios Posted on www.zenios.wordpress.com    I argue that the Cyprus bail-in failed some important tests of fairness. This is highly relevant given the provisional agreement reached between the European Parliament and the Commission on proposed Single Resolution Mechanism for the Banking Union on the 20th of March. The bail-in of depositors was considered

IMF Managing Director Christine Lagarde has praised the Cyprus authorities for keeping the rescue programme implementation on track, pointing out that the ongoing fiscal adjustment should be complemented by structural reforms. Lagarde was speaking to the press on Friday, following the executive board discussion during which the members completed the third review of Cyprus’s performance

“2013 recession not as severe as anticipated” Signs of stabilisation are emerging in the banking sector, however, the outlook remains challenging, with rising unemployment, falling credit, and increasing non-performing loans, the International Monetary Fund said in its report on Cyprus. The report said that while deep, the 2013 recession was not as severe as anticipated.