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1411. 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...

1412. Holiday Inn Nicosia under new ownership

Holiday Inn Nicosia is coming under new ownership, after Greek company NBG Pangaea shelled out two thirds of the total price of €11.2 million...

1413. Athens bus employees walk off job on Thursday

Employees at the Athens Urban Transport Organization (OASA) will hold a work stoppage on Thursday to protest the planned closure of the bus depot at the former airport at Elliniko, in southern Athens, and further cutbacks....

1414. Co-op bankers plead not guilty in loans scandal

Senior co-op executives pleaded not guilty to fraud charges in connection with a banking scandal where loans worth millions were given out without due process...

1415. Conference on Funds & Cryptocurrencies, a success

A half day Conference with the subject of “Funds & Cryptocurrencies: The Development and the Technology” was successfully completed for a second consecutive year, on the 14th of June 2018 at the Four Seasons Hotel in Limassol...

1416. 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...

1417. Worried investors looking for Lillevyali in Cyprus

The whereabouts of Russian hedge fund manager German Lillevyali are currently unknown, but his possible location in Cyprus is shrouded in even more mystery as people are looking to get their money back...

1418. Hellenic moments away from CCB offer

The privatisation deal for Cyprus Cooperative Bank could be moments away, with Hellenic Bank putting the finishing touches on the final makeup of its new shareholder base...

1419. Funds & Cryptocurrencies: The Development and the Technology

For the second consecutive year, the Cyprus Chamber of Commerce and Industry, Cyprus-Russian Business Association and K. Treppides & Co Ltd are organizing a half day conference on the 14th of June 2018 at Four Seasons Hotel in Limassol, in an attempt to inform the investors and the Global Market about the Cyprus Fund’s market and the relationship that the Funds in Cyprus can have with the technology...

1420. EU says Greece-Turkey readmission deal required for visa waiver

The agreement between Greece and Turkey for the return of migrants that Ankara suspended on Thursday is a “point of reference” for the EU-Turkey statement on readmissions and constitutes a precondition for the abolition of visas for Turkish citizens, European Commission spokeswoman Natasha Bertaud said on Friday....

1421. Little boy’s pool incident exposes safety risks

A pool incident where a young child almost drowned is raising concerns over safety, with the Green party weighing in trying to find ways to propose additional legislation for private swimming sites...

1422. Cyprus court will hear Browder’s case in July

The Nicosia District Court will hear a motion from Bill Browder’s lawyer seeking an order that would prevent Cyprus from acting on a Russian warrant against the famous Putin critic...

1423. 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...

1424. Treppides Annual event in Moscow

K. Treppides & Co Limited is delighted to announce its annual event in Moscow taking place on the 6th of June 2018...

1425. Finance Ministry issues six-year bonds for natural persons

Cyprus Finance Ministry issued domestic bonds for natural persons amounting to €6.77 million, Public Debt Management Office (PDMO) announced....

1426. Spanish police detain, then release Kremlin critic Browder

British businessman Bill Browder, a prominent Kremlin critic, was detained and then released by Spanish police on Wednesday, after a warrant for his arrest he said came from Russia was found to be no longer valid...

1427. Government and Co-op begin consultations with bidders

1428. Paphos mayor turns up pressure in Turkish Cypriot properties saga

Paphos Mayor Phedonas Phedonos is turning up the pressure in his town’s Turkish Cypriot properties saga, prompting Edek party leader Marinos Sizopoulos to respond to allegations of corruption...

1429. North Korea still wants to talk after Trump nuked summit

North Korea responded on Friday with measured tones to US President Donald Trump’s decision to call off a historic summit with leader Kim Jong Un scheduled for next month, saying Pyongyang hoped for a “Trump formula” to resolve the standoff over its nuclear weapons programme...

1430. Biggest UK contribution for Exercise Argonaut

The four-day international maritime search & rescue and non-combatant evacuation exercise “Argonaut 2018” is taking place in Larnaca...

1431. Cyprus forecasts high GDP growth of 3% plus until 2021

High growth rates exceeding 3% of the GDP and high primary surpluses are projected until the year 2021 in the Strategic Fiscal Policy Framework (SFPF) 2019-2021, which was approved by the cabinet...

1432. Treppides Group joins London Hedgeweek Funds panel in Malta

George P. Nicolaou, member of the Board of Management of Treppides Group and Head of Operations of Finanz Fund Services Ltd, a regulated Fund Administration Company under Malta Financial Services Authority, will be on the speakers panel at an event organised by Hedgeweek in London on the 23rd of May 2018...

1433. 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...

1434. The 'guards' are waiting

Today, Greece is being run by a combination of “pink guards” officials of the old PASOK, friends and relatives...

1435. Radisson hotels take over Larnaca

The well known Radisson hotel chain will soon be welcoming guests in Larnaca, with Radisson Blu coming in July and two more in the works ...

1436. First shipping minister sets ambitious targets for Cyprus

The country’s location and tax system have made it a shipping magnet -- drawing maritime companies from Norway, Greece, Dubai and South Korea -- and prompting the creation of a ministry for the industry...

1437. Cyprus is 'dragging its feet' on nature protection

With regard to Cyprus, none of the 11 evaluation criteria received positive scores, with the great problem of the inadequate protection and management of the Natura 2000 sites ...

1438. J&P Overseas struggles to make things right

There is no end in sight in the bitter division within J&P Overseas, with one executive drawing on the company’s old glory to save the company while another pointing to mismanagement and threatening to take legal action....

1439. Millions in compensation to Cyprus Airports under review

A compensation agreement between the state and Hermes Airports is being challenged in parliament, echoing a public debate on how Larnaca and Paphos airports should receive government funds due to the operation of the illegal Ercan (Tymbou) airport in the north....

1440. Rare glimpse of Assad ties to Russia as his kids enjoy lavish holidays

That Assad’s sons Hafez and Karim and daughter Zein had stayed at the resort last year with a group of other Syrian children was made public only this week...