The European Investment Fund and the Bank of Cyprus have signed a EUR 20 mln SME financing agreement under the JEREMIE initiative in Cyprus. This new financing facility aims to support micro and small enterprises with loans up to EUR 100 000, co-financed equally by the EIF and the Bank of Cyprus, primarily for projects
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An agreement was signed Wednesday between the Republic of Cyprus and Switzerland for the co-financing of the upgrading of the Technical Vocational Training offered by the Cyprus Productivity Centre (CPC). According to an official announcement Switzerland will contribute €1.184.280 and Cyprus will contribute €214.350 from national funds. The programme, which is to be implemented by
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The dollar was pinned at the week's lows against the yen on Thursday, with eyes on month-end flows for any selling pressure that might push it down further into possible danger zones for Japanese intervention. The dollar, hobbled by speculation of more quantitative easing from the Federal Reserve, struggled near a five-month low on the
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The European Commission proposed steep compulsory deposits and fines on Wednesday for euro zone countries that breach EU budget rules, as trade unions staged strikes and protests against austerity measures. In a sign of the new "get tough" policy on fiscal deficits, euro zone sources said finance ministers of the single currency area would grill
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Bill Gates and Warren Buffett received some "very generous" gifts during a dinner in Beijing with a small group of ultra-rich Chinese to promote charity, saying on Thursday that the event had exceeded expectations. But neither man, two of the world's richest people and keen philanthropists themselves, would give any details, explaining it was up
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Japan's Nikkei average slid 2% on Thursday, hit by a late yen rise, but still booked its best monthly performance in six months, helped by hopes the central bank will ease policy further and that the yen's rapid advance could be curbed by more intervention by the authorities. But the benchmark edged down 0.1% for
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A simmering lawsuit between Paris Hilton and Hallmark greeting cards cooled off on Tuesday when the two settled their dispute over the celebrity's image and catch phrase, "that's hot." Hilton, who licenses her name and image to promote apparel, cosmetics and other products around the world, sued Hallmark Cards Inc three years ago for misusing
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Did you know that copying, storing and distributing articles from the Financial Mirror’s print, electronic and Internet editions are illegal? European and international laws ensure that the rights of copyright holders are respected and in this sense encourage companies and public organisations to secure permission from the publishers through licensing services. However, in Cyprus, the
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FINANCIAL MIRROR EXCLUSIVE — Demco seeks M&As to expand to Europe — Demetris Kontominas, one of the shrewdest dealmakers in the insurance and financial services sectors in Greece and southeastern Europe, will probably make a bid for InterLife Insurance in Cyprus in order to secure a life insurance permit and expand his Demco Insurance portfolio
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. Korean credit card receivables have featured low delinquencies, low defaults, and high principal payments over the last few years, including during the financial crisis in 2007, according to a new report by Moody's Investors Service. Nevertheless, the country also faces challenges that may lead to performance deterioration, the rating agency added. To facilitate investors'
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