Investment companies lost a combined EUR 328.28 mln in 2008 in one of the worst performances ever tracked by the Financial Mirror, with the massive 77% drop in equity prices and declines in real estate taking their toll on fund performances. The combined total assets of the 17 investment companies listed on the Cyprus Stock
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The ECB is cutting rates and Euribor is heading lower, yet borrowing costs and deposit rates remain stubbornly high in Cyprus. The reasons for this phenomenon are many, according to the CEO of Hellenic Bank, Makis Keravnos, who served as Finance Minister in the previous administration. He places a large part of the blame on
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EU desperate to please Turkey The Russia-Ukraine gas standoff could not have come at a more convenient time for Turkey that is using the argument of potential gas shortages to Europe to demand that the energy chapter in membership negotiations be reopened and at the same time strong-arm its way out of any obligation to
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Cyprus better off DR. JIM LEONTIADES CIIM, The Cyprus Business School Among all the confusion of the global financial crisis, one thing is becoming clear. There are major differences among the central banks which will be tested by the current crisis. The results of this test will influence the conduct of governments and their relation
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In a challenging time for the real estate industry, a crisis management seminar gives its participants the opportunity to enhance their knowledge and skills, and also to maximize their company’s success. The seminar, titled “Advanced Executive Course in Real Estate: Marketing & Selling Techniques for Real Estate”, is being organised on January 30-31 by RICS
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This year’s elections for EuroMPs will be held in all EU members states between June 4 and 7, with the Cypriots expected to go to the polls on June 7. But as that day coincides with the Pentecost (Kataklysmos) holiday, political parties are afraid the Cyprus vote will result in a poor turnout, possibly lower
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The Cyprus insurance sector, both life and non-life, continued to be dominated by bank owned firms, which in the first nine months of 2008 maintained their leading position in the market. According to data from the Insurance Association of Cyprus, in the life sector, Eurolife, part of the Bank of Cyprus Group and Laiki Cyprialife,
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Cyprus is likely to experience a significant deterioration in its short term economic outlook and the economy is forecast to expand at a slower pace in 2009 compared to recent years, although growth will continue to remain above the Euroland average, according to PricewaterhouseCoopers’ latest report on European economies. The PwC analysis shows that the
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A three -member parliamentary delegation will travel to Strasbourg to attend the workings sessions of the first part of the 2009 Parliamentary Assembly of the Council of Europe (PACE) meeting, which will take place from 26 to 30 January 2009. The delegation comprises MPs Christos Pourgourides, Antigoni Papadopoulou and Phedias Sarikas. Among the personalities who
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Foreign Minister Markos Kyprianou, who has concluded his round of visits to South American countries, is traveling to Brussels from Brazil to attend the EU General Affairs and External Relations Council, to be held on Monday, January 26. According to an official announcement issued here today, at the Council meeting there will be a presentation
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