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571. Greek banks to chase borrowers who refused to open their accounts

Banks have firmly focused their attention on debtors who have resorted to the provisions of the so-called Katseli law – named after former economy minister Louka Katseli – for protection now that their bank account secrecy has been lifted....

572. Cyprus issues sovereign bond, draws €1.5 billion at 2.4%

573. Finance Minister tweets Winston Churchill

574. Cyprus eyes 10-year low yield bond after S&P lifts sovereign to investment grade

575. Cyprus back into investment grade

Cyprus got its investment worthiness stripes back on Friday as Standard & Poor’s raised the country’s credit grade from BB+ to BBB- with a stable outlook, five years following a devastating financial collapse...

576. AG disagrees with former banker’s acquittal

Attorney General Costas Clerides disapproves of the acquittal of former banker Andreas Eliades, saying cases involving the collapse of the credit and financial system are “difficult and complicated...

577. Cyprus launches website for film industry

The Cyprus Investment Promotion Industry (Invest Cyprus) launched on Tuesday the Scheme for the promotion of the filming industry, presenting the online platform where interested parties can apply for cash rebates and other incentives for their productions...

578. Hellenic mulls over selling delinquent loans

Hellenic Bank posted a €35 million net profit for the first half of 2018, with the bank’s CEO Ioannis Matsis stating that the bank is ready to launch a tender for the sale of a portfolio of non-performing exposures within the next six months...

579. Obama slums Trump

Former US President Barack Obama assailed President Donald Trump and Republicans on Friday, urging Democrats to deliver a check on the administration’s “abuses of power” and restore a sense of sanity to politics by voting in November’s elections...

580. More hotels to stay open during winter

Cyprus hoteliers say the occupancy rate has reached or exceeded 90%, with officials expecting good performance through the end of the year despite Russian numbers dwindling...

581. Announcement of Appointment of Director

The Management of K. Treppides & Co Ltd is pleased to announce the appointment of Mrs Maria Sourmeli as a Director of the Firm, with effect from 1st September 2018...

582. Hellenic takes on 400,000 new customers

Hellenic Bank is taking on 400,000 new customers, leaving bad debt behind in the acquisition of healthy parts of state-owned Cyprus Cooperative Bank...

583. 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...

584. Former trustee says Credit Unions were in chaos

Another former trustee of the defunct Cyprus Cooperative Bank speaks out, describing a world of chaos at the financial institution where lack of expertise, political pressure, and wrongdoing ruled the day ...

585. Cyprus goes all out in the maritime insurance game

Cyprus has been a serious contender in the maritime and shipping industry, but recently it emerged as one of few unbeatable alternatives for big foreign P&I clubs looking to set shop home away from home...

586. 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...

587. Former trustee says co-op sapped with impunity

Investigators in the probe into the collapse of credit unions in Cyprus heard testimony this week that political parties endorsed a sense of impunity among bank officials...

588. Odysseas says Harris was being stubborn

The auditor general is pointing fingers at the finance ministry’s handling of the Cyprus Cooperative Bank affair, telling an independent investigation committee that some actions were misleading...

589. 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....

590. 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....

591. Regling says Greece will remain linked to ESM

Greece will be monitored more closely by the European Stability Mechanism (ESM) and the other institutions after its bailout ends six days from now compared to other countries that emerged from rescue programs, according to ESM chief Klaus Regling....

592. The mistakes of Greece’s creditors

A lot has been said about the mistakes made by Greece’s lenders during the bailout programs. The fact is they made many errors, including some serious ones. Meanwhile, Greek politicians were responsible for refusing to take ownership of the required reforms and failing to reach a degree of basic consensus. ...

593. Larnaca resident behind global online scam

A global network of online scammers has been dismantled, with the brain of the operation arrested in Larnaca in connection with €18 million worth of damages caused by internet fraud...

594. Unions okay with CCB severance package

Union employees at Cyprus Cooperative Bank have agreed to sign up on a severance package plan this summer, ahead of a takeover by Hellenic Bank, saying it can contribute to labour peace...

595. Holding referendums in FYROM and Greece

The Former Yugoslav Republic of Macedonia (FYROM) is moving ahead with preparations for its referendum on the name deal reached with Athens, which will pave the way for its induction to NATO and remove a major obstacle to the process for it to join the European Union....

596. Nissi Beach is CNN Travel's July pick

Nissi Beach is recommended this month by CNN Travel as one of a handful of global destinations for July beachgoers, certifying once more that Ayia Napa remains on the world map when it comes to beach summer fun...

597. Email phishing scams on the rise in Cyprus

The police cybercrime unit is warning the public of a money extortion scheme, following complaints from people who recently received threatening emails...

598. Moody’s says BoC better off after UK sale

Rating Agency Moody’s has described the sale of Bank of Cyprus UK as credit positive, noting that the sale would place Bank of Cyprus in a better position to focus on reducing its domestic high stock of problematic loans...

599. Russian tiger plane steals the show in Larnaca

A plane with the majestic face of a Siberian tiger landed at Larnaca International Airport on Sunday, known around the world for raising awareness for the protection of the Amur Tiger...

600. House prepares to define good and bad borrowers

The distinction between responsible and irresponsible borrowers is at the forefront of heated debate this week, with Presidential Palace and Parliament scrambling to strike balance ahead of a crucial vote...