Search

331. Nicosia court stunned in Interpol media leak trial

A state prosecutor could be held in contempt by a Nicosia court if she fails to hand over a criminal probe finding in connection with the leaking of Interpol information in the Ayia Napa mob killings of 2016...

332. Co-Op deal with Hellenic still up in the air

The government is running against the clock with bad loans legislation, which would include a bill approving state guarantees for Hellenic Bank to absorb potentially high-risk loans in co-op takeover...

333. ESM warns Cypriot banks of quick fixes

The European Stability Mechanism warns Cyprus that despite a recent decline in non-performing loans (NPL), the banking sector remains vulnerable due to weak profitability and a still high NPL ratio...

334. #PoliticsBlog End of an era and Harris’ bitter chalice

Journalists often abuse the term 'end of an era' but in the case of the Cyprus Cooperative Bank, these words totally fit the bill...

335. Government throws Co-Op ball in Hellenic’s court

The Cyprus Cooperative Bank will examine Monday a final offer from Hellenic Bank to acquire the troubled state-owned institution, with government seeing the buyout as a good step while critics saying tax payers are unfairly picking up the tab...

336. Greek Cypriot drivers cross north to fill ’er up

Greek Cypriot gas station owners are feeling the squeeze as many vehicle owners cross north to get petrol, causing up to 70% losses in the south...

337. Latvian suspect denies part in Leonides murder

A 36-year-old Latvian national pleaded not guilty to charges in connection with the murder of 47-year-old Ernest Leonides, who was clipped back in February at a Limassol restaurant...

338. Audit report on CCB made public amid negotiations

An audit report on the Cyprus Cooperative Bank (CCB) was made public on Friday, amid negotiations between the Co-op and its two bidders, making recommendations for improvement but also criticising the institution on a number of decisions...

339. Government and Co-op begin consultations with bidders

340. There is still hope for Cyprus to host Eurovision 2019

Despite being the first runner-up in this year’s Eurovision song contest, there appears to be a small chance that Cyprus could still be the host next year due to political and security concerns in Israel...

341. Cyprus tightens vetting for investment-for-passport scheme

In the wake of criticism that it was operating a "passports-for-cash" scheme, Cyprus has toughened up vetting procedures for those investors looking to get their hands on a European Union passport...

342. Co-op receives two bids in good bank, bad bank scenarios

The Cooperative Central Bank (CCB) announced on Monday it has received two bids as part of its privatisation process launched in March, with one bidder going after the ‘good bank’ scenario just as the European Commission approved the acquisition of Altamira Cyprus by a joint platform with CCB and one of the bidders...

343. Cyprus pin hopes on show-stopper Eleni Foureira

Perennial makeweight Cyprus hopes to raise its flag over the Eurovision Song Contest on Saturday with Greek singer Eleni Foureira red-hot favourite to wow audiences with her show-stopping song 'Fuego'...

344. Revolution sweeps Armenian opposition leader into power

Opposition leader Nikol Pashinyan was elected Armenia’s prime minister on Tuesday, capping a peaceful revolution driven by weeks of mass protests against corruption and cronyism in the ex-Soviet republic...

345. US Treasury Assistant Secretary encouraged by meetings in Cyprus

The United States have been encouraged by the commitments made by Cypriot officials in the framework of meetings US Department of the Treasury Assistant Secretary for Terrorist Financing Marshall Billingslea held on Friday and will continue to work with Cyprus to combat corruption, money laundering, and other financial threats....

346. Cyprus recovery is being recognised by international agencies

Fitch does not currently anticipate developments with a high likelihood of leading to a downgrade...

347. Co-op suffered 'nightmare' bank run

A top official at the Cooperative Bank says more money was lost in bank deposits first quarter this year, just shy of 2 billion, than the outflow during the 2013 crisis....

348. #PoliticsBlog Loans to Politicians

The Non-Performing Loans (NPL) associated with political public figures reach over €160 million just in the cooperative bank alone. New measures are welcome but can they deliver?...

349. FinMin: Revenue from NPLs management will repay cost of support to Co-op

Government moves include establishing an asset – management company, based on conditions that the competent European institutions will set and depending on the finalisation of investment interest in the Co-op...

350. Georgiades makes a “good case” for Co-op sell-off

Borrowers who default on a loan won’t be able to pick up the phone and ask a politician to intervene, according to Finance Minister Harris Georgiades, who insists that separating healthy banking from bad loans is the best way forward for the Cyprus Cooperative Bank....

351. Privatisation of Co-op may lead to the creation of a 'bad bank'

A process launched by the nationalised Cooperative Cyprus Bank may lead to the creation of an Asset Management Company also known as a bad bank ...

352. Cooperative bank outflow appears to have stopped

The Cyprus finance minister says outflow has stopped at the state-owned Cyprus Cooperative Bank, following a €2.5 billion deposit by the government that is seeking private investors for the troubled institution....

353. Labour exploitation is the main form of trafficking in Cyprus

Labour exploitation has emerged as the predominant form of trafficking in Belgium, Cyprus, Georgia, Portugal, Serbia and the UK...

354. Speed camera plans move forward

Just as plans for speed cameras seemed to be going nowhere, an official meeting last week gave the go ahead for the tender process to begin within the next few months. ...

355. Gun-totting PAOK president gets 3-year ban

Greek club PAOK Salonika’s president Ivan Savvidis was banned from all soccer stadiums for three years ...

356. US gifts customs equipment to Cyprus

The US donates detection equipment to the Cyprus Customs Department in a move described as helping combat illicit trade, especially narcotics, and illegal weapons transfer....

357. Paphos burglary takes bizarre turn

A rather bizarre incident took place in Paphos, where a Russian orthodox priest reported a burglary with holy relics being among the stolen goods....

358. Cyprus and UK sign new treaty for double taxation avoidance

For the Cyprus government, the expansion of economic relations with the United Kingdom is a top priority...

359. Hedge funds show interest in Cyprus co-op

Major hedge funds are showing interest in the Co-Operative Bank of Cyprus, including one headed by former Bank of Cyprus Vice Chairman and current US Commerce Secretary Wilbur Ross. It is too early to predict any deal since investor goals differ from each other and all would depend on final numbers at a later stage. ...

360. Co-op Bank en route to healthy future

Cyprus Co-operative Bank will be healthier without a massive NPL problem. Already it has managed to cut down on the number of branches and reduce its staff, but now the big step is finding investors with the right kind of portfolio to move banking forward....