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1621. Banks have their recovery work cut out

The bank stock slump has gone on for too long and valuations are now exceptionally low, say senior credit sector officials in Athens. However, analysts questioned on the issue by Kathimerini say the problems that Greek lenders are facing will not be overcome quickly, justifying the pounding the sector has sustained on the Athens stock exchange....

1622. Mandatory disclosure rules: the calm before the storm

It is a well-known fact that a storm is always preceded by a strange calm. This could be the perfect description of what is about to come, as a result of the latest changes adopted on May 25th of this year by the Council of the European Union...

1623. North Korea's Kim agrees to permanently abolish key missile facilities

1624. EU’s migration Commissioner in Nicosia for talks

The European Union’s top migration official is on a visit to the Republic of Cyprus, where he will hold discussions with a cabinet subcommittee on dealing with the influx of migrants and refugees...

1625. Moody’s thumbs up to Bank of Cyprus bad loans sale

Moody’s credit rating agency says the recent sale of Non-Performing Loans by the Bank of Cyprus worth €2.8 billion is a positive step...

1626. Teacher demo forces eleventh hour debate

The government is contemplating a suggestion that would allow proposed education measures to take hold but only through the end of the calendar year, in exchange of labour peace and talks with the teachers unions...

1627. Bank of Cyprus gets rid of small business bad loans

The Bank of Cyprus says it has sold a portfolio of non-performing loans worth €2.8 billion to Apollo Global Management, a transaction that will reduce its stock of NPLs to €5.2 billion...

1628. Bank of Cyprus CEO stays put through 2020

Bank of Cyprus CEO John Patrick Hourican will stay in his current position through the end of 2020, following a decision by the executive board at the largest lending institution in Cyprus...

1629. Additional revenues of 4.7 billion euros needed to reach targets

The Greek government will have to collect additional tax revenues of 4.7 billion euros in the first post-bailout period of enhanced supervision (2018-2022) by its creditors, in order to achieve the agreed primary surpluses and record surpluses....

1630. Shadows loom over government’s ‘clean exit’ scenario

Greece’s bailout exit has been eliciting condescending and bitter commentary on the country’s beaches and in its near-deserted cities, as few Greeks believes their lives are going to improve or that the country’s prospects will be akin to those of other bailed-out eurozone states. Greece’s “return to normalcy” and “clean exit,” much touted by the government, appear to be happening somewhere else....

1631. Cyprus recalls ICELAND mixed veggies

The government has issued a food alert, recalling a specific brand of frozen mixed vegetables due to the possibility of being infected by bacteria that can cause food poisoning, just one week following another company recall for the same reason...

1632. Ayia Napa marina fully ready in July 2019

It won’t be until end of 2021 when the twin towers in Ayia Napa will be completed, but boats and private yachts will be able to dock at the marina by next summer, giving the area a head start in the game...

1633. Take-away lessons from 'Cyprus in the digital agenda'

Cyprus is turning the page in the digital age era but there are still many steps in the path forward. This appears to be the general conclusion from Thursday’s conference on "Cyprus in the Digital Agenda" organised by Kathimerini newspaper and the SPP MEDIA Group...

1634. Britons living in Cyprus have nothing to fear post-Brexit

Britain says it has secured the right for UK nationals living in Cyprus to keep the same status that they currently enjoy as EU citizens...

1635. Tsipras says Greece will meet fiscal targets with no fiscal gap in 2018-9

Greece and its foreign creditors agreed that the country will meet its fiscal targets in the coming years and there will be no fiscal gap in 2018 and 2019, Prime Minister Alexis Tsipras told his cabinet ...

1636. Britain will not ask for longer Brexit transition period

Britain will not ask for an extension to the near-two year transition period with the European Union after Brexit when the government publishes its new detailed plans next month, Cabinet Office minister David Lidington said ...

1637. Cyprus GDP growth is creating more jobs

Bailed out eurozone member Cyprus notched up its 13th consecutive quarter in positive growth with GDP rising 0.8 percent in the first quarter, an official estimate showed...

1638. Bank of England keeps powder dry on rate rise

The Bank of England held interest rates and said weak growth during a snowy start to 2018 was likely to be only temporary, but it wanted to see a pick-up in the economy in the next few months before raising borrowing costs...

1639. Oil tank demolition paves the way for a new Larnaca

The first oil tank demolition started Thursday on the old Larnaca-Dhekelia road, with President Nicos Anastasiades doing the honours by helping cut the first piece using a welding torch...

1640. Leaders approve Prince Charles to succeed Queen as Commonwealth head

The biennial meeting, taking place in Britain for the first time in 20 years, could be the last attended by the 91-year-old queen...

1641. Turkey will get Russian S-400 missiles next year

The deal worth some $2.5 billion has worried the West because the system cannot be integrated into NATO’s military architecture...

1642. Oil and gas tanks on the way out

The oil refineries will be out of the picture before the decade is out based on a decision during a meeting at the Presidential Palace....

1643. Cypriot firm signs $4.2 billion Zimbabwe platinum deal

It is the largest investment structure in the country’s mining industry in Zimbabwe...

1644. EU agrees Brexit transition

May has described as unacceptable any possible deal that cuts Northern Ireland off from the rest of the UK...

1645. Google makes push to turn product searches into cash

Over the past two years, mobile searches asking where to buy products soared by 85 percent...