Cyprus remains a serious and attractive place to invest, despite economic hardships, Communications and Works Minister Tasos Mitsopoulos said today. He added that the Cabinet would convene during the next two days – on Monday and Tuesday – to discuss exclusively the potential for investments and major development projects. Foreign interest to invest in Cyprus
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Moody’s credit rating agency downgraded on Friday Bank of Cyprus deposit ratings to Ca, negative outlook, from Caa3. Moreover, they downgraded senior unsecured debt ratings to C, from Caa3 while the agency confirmed Hellenic Bank’s deposit ratings at Caa3 with a negative outlook. The subordinated and junior subordinated debt ratings of BoC have been affirmed
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The Finance Ministry issued late Sunday the eighth decree on capital controls, easing further capital restrictions. Under the new decree, transfers per persons are increased to €3,000 per month within the Republic, compared with €2,000 of the previous decree, whereas transfers of deposits/funds to accounts held in other credit institutions are increased to €50.000 per
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As investors Carl Icahn and William Ackman bickered loudly on TV earlier this year about their opposing bets on Herbalife, two other men were discussing the company in a different context: getting non-public information to trade ahead of the stock's next move. Referring to Icahn's announcement that he had purchased a large stake in the
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President Vladimir Putin told astronauts in orbit on Friday that Russia will send up the first manned flights from its own soil in 2018, using a new launch pad he said will help the once-pioneering space power explore deep space and the moon. Speaking by video link with the International Space Station's crew from the
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Russia's economy is at risk of sliding into recession by autumn and the government may need to implement stimulus measures to shore up growth, Economy Minister Andrei Belousov said on Friday. "We are not in recession for now, but we may get there – there is such a risk," Belousov told reporters, a day after
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European shares fell on Friday to end a four-day winning streak, as concerns among investors over Cyprus' economy and the euro zone's debt crisis weighed on equity markets. The pan-European FTSEurofirst 300 index, which had risen for the last four days, was down by 0.6 percent at 1,186.10 points, while the euro zone's blue-chip Euro
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President of the Republic of Cyprus Nicos Anastasiades will send letters to the Presidents of the European Commission and the European Council, in which he will stress the need for a change of the European policy on Cyprus, by providing the country with additional help. In statements to journalists, President Anastasiades said that in the
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Cyprus remains a major maritime center, Communications and Works Minister Tasos Mitsopoulos has assured, adding that Cyprus shipping continues business as usual. In a speech during the East Med Marine Exhibition on Thursday in Limassol, he also said the Cyprus tonnage tax scheme is “locked” for ten years. The East Med Marine Exhibition is a
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The Cyprus Government has not requested additional financial assistance under the Memorandum with the Troika, Government Spokesman Christos Stylianides has said. In a written statement, Stylianides clarified that “what the President of the Republic is discussing with European officials is the possibility of increasing European funds, for growth and social cohesion”. On Thursday, Stylianides said
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