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1741. K.Treppides & Co Ltd: Time Value of Money

What if a close friend asks today to borrow 1,000EUR with the precondition to repay the exact same amount in five years? Would you take the deal or not?...

1742. Trump impeachment inquiry begins

Democrats in the U.S. House of Representatives on Tuesday launched a formal impeachment inquiry into President Donald Trump, accusing him of seeking foreign help to smear Democratic rival Joe Biden ahead of next year’s election...

1743. Mitsotakis in New York – opportunities, substance, results

This week will see the first appearance of Prime Minister Kyriakos Mitsotakis at the United Nations General Assembly. He will make the customary speech before the plenary and be received by the UN secretary-general. However, the substance will be in the meetings that are to take place on the sidelines of the proceedings. ...

1744. Moody's changes Cyprus outlook to positive

Rating agency Moody’s changed the outlook for the Cypriot economy to positive from stable, citing the reduction of the sovereign exposure to event risks stemming from the banking sector and the improving fiscal strength beating previous expectations...

1745. Britain's Thomas Cook scrambles for £200 million to avert collapse

Britain’s Thomas Cook needs to find an extra 200 million pounds to satisfy its lenders or one of the world’s oldest holiday company risks collapse, potentially stranding thousands of holidaymakers across Europe. ...

1746. Cabinet approves surplus 2020 budget

The Cabinet approved on Wednesday the budget for 2020, which foresees a surplus in state finances, while a significant increase in spending is planned due to the implementation of the General Healthcare System ...

1747. Greek corporations rush to issue bonds amid record low yields

The easing of Greek state bond yields to record lows has opened the way to international markets for major Greek corporations too, as they can now take the opportunity to reduce their cost of borrowing. ...

1748. The next six months are crucial

Since July’s general election, there has been a sense of optimism regarding the country’s course, especially in business circles, inside and outside of Greece. As we learn in the first lessons in economics, climate is everything. At the moment, we have a winning combination of trust and euphoria...

1749. Oil surges after attack on Saudi oil facilities

Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the Gulf War in 1991, after an attack on Saudi Arabian oil facilities on Saturday shut over 5% of global supply. ...

1750. Officials downplay drone risk off Paphos

Cypriot officials dismiss reports that say Turkish drones had interfered with flight paths of commercial airplanes taking off or landing at Paphos airport...

1751. Greece and the US: Commitments and credibility

The signals coming from the two centers of power in the United States, the president and Congress, are often conflicting, which makes it hard for Athens to carve out an effectual foreign policy. This conundrum is set to continue throughout the Trump administration...

1752. Locals stage protest on Lara beach

A protest in favour of local exploitation of Lara beach was held on Sunday in response to activists and state officials who recently reiterated that illegal human activity on turtle nesting sites will not be tolerated...

1753. Larnaca police probe death in Ayahuasca retreat

Larnaca police are attempting to piece together what went wrong in an Ayahuasca ceremony in Vergina on Tuesday, following the death of a 34-year-old woman from Latvia...

1754. Fire near Limassol community contained

A large wildfire was raging outside a community in Limassol district, with officials saying battling the blaze was difficult due to limited access in the area while the risk of re-ignitions remained high...

1755. Officials raise red flag over risk of wildfires

The Department of Forests has issued a new “red alert” for Tuesday citing a high risk of wildfires throughout the island...

1756. Scope rates Cyprus with BBB-

Scope Ratings affirmed last week the Republic of Cyprus’ BBB- long-term issuer and senior unsecured local- and foreign-currency ratings, along with a short-term issuer rating of S-2 in both local and foreign currency, noting that all outlooks are stable...

1757. Standstill over 'disputed waters' in Akamas

A recent boating incident has highlighted a local controversy in Akamas, where a leisure boat captain is at odds with visitors and authorities over his speedboats pulling too close to bathers...

1758. Newly-arrived Syrian suspected of terrorism

A Syrian national who has been arrested on terrorism-related charges is facing deportation, after migration officers said they suspected the man of posing a security threat...

1759. UN caution against hunting in the buffer zone

The United Nations Peacekeeping Force in Cyprus says hunting in the buffer zone is a security risk and strictly prohibited....

1760. Family cries foul over post mortem

The family of an elderly woman, who died in the Emergency Room at Larnaca General last week, is preparing to sue the government for negligence and obstruction of medical justice...

1761. Limassol fire put out completely

Officials say the Limassol wildfire which was partially contained on Tuesday was completely extinguished on Wednesday afternoon...

1762. Villages evacuated in Greek wildfire

Aircraft sprayed water early on Wednesday in a bid to douse the flames of a huge wildfire on the Greek island of Evia that had prompted the evacuation of villages and spurred an appeal from authorities for assistance from European partners...

1763. Brussels piles on pressure over Greece-Cyprus-Israel electricity cable

Just when the Greek Energy Minister thought he could take a short August break, after a hectic first 30 days of the Mitsotakis administration, a stern warning from Brussels has exposed the wavering attitude that Athens has chosen by succumbing to pressure from the Chinese-controlled transmission system operator ADMIE over the Attica-Crete subsea electricity cable...

1764. Man arrested following Limassol wildfire

One suspect was detained for questioning by police in connection with a Monday wildfire in Limassol district, which continue to rage overnight and was said to have been partially contained by the early morning...

1765. Forest department on high alert

The Department of Forests says the chance of a disastrous blaze is very real in Cyprus, with a much greater risk threatening forests but also people’s lives...

1766. Moody’s expects deleveraging to resume but warns over small economy and high level of debt

The credit profile of Cyprus reflects its small but wealthy economy, improved economic resilience and the government`s fiscal outperformance in the wake of the country`s banking crisis, Moody's Investors Service has said in an annual report. ...

1767. EY: The sale of the three subsidiaries of Cyprus Popular Bank has been completed

1768. Ayia Napa rape accuser’s lawyer fires back

The lawyer of a British teen, who is accused of making false statements to police in a rape complaint in Ayia Napa, says his client is a victim of revenge porn and wants to know who leaked a gangbang sex video...

1769. Trump hits China with more tariffs, sharply escalating trade dispute

U.S. President Donald Trump vowed to impose a 10% tariff on $300 billion of Chinese imports from Sept. 1, sharply escalating a bruising trade war between the world’s largest economies and jolting financial markets. ...

1770. Finance Committee seeks compromise on foreclosures

The House of Representatives Finance Committee meets on Friday to discuss proposals that would normalize the legislative framework on foreclosures...