Search

31. Urgent bill on back burner as Lone Star sleeps on it

The Cypriot parliament was in no hurry on Thursday to vote on an emergency bill that would have allowed the government to block a potential takeover of the island’s largest bank, after an American private equity fund said it would sleep on it at least until next year. ...

32. Crucial countdown as Cyprus moves to block Lone Star

Private equity firm Lone Star has until Friday to submit a binding offer to buy the Bank of Cyprus, but the island’s largest financial institution could be out of reach as the House is expected one day earlier to vote on a bill that would authorize the government to block a hostile takeover on security grounds...

33. US-based Lone Star to revise offer for Bank Of Cyprus

US-based equity fund Lone Star said it is considering options with regard 'to the possibility of making a revised offer proposal to the Board of the Bank of Cyprus.'...

34. Bank of Cyprus announces €50m net profit in first half of 2022

Bank of Cyprus announced a profit after tax amounting to €50 million for the first half of 2022, setting its sights on dividend distribution in 2023, for the first time since 2011, depending on market conditions and regulatory approvals....

35. Cyprus scrambles to block hostile bank takeover

The government in the Republic of Cyprus is racing against the clock to arm itself with legal tools to prevent a takeover of the country’s biggest bank by an American private equity firm, which has until next month to submit a final offer that some shareholders may find hard to resist...

36. Greek court overturns seizure of Iran tanker’s oil

A court in central Greece has overturned a ruling that authorized the confiscation of crude oil from an Iranian-flagged tanker at the center of a volatile dispute over international sanctions...

37. Desperate Afghan families resorting to selling their kidneys and even their own children to buy food

Entire families in Afghanistan have been forced to sell their kidneys so they can buy food, as the country plunges deeper into a humanitarian crisis....

38. Teddy Sagi's Playtech embroiled in takeover battle

Israeli billionaire Teddy Sagi, the founder of Playtech, declined to comment on the withdrawal of Eddie Jordan's potential bid for the online gambling company he founded back in 1999....

39. The face that became the symbol for refugees around the world

She was a symbol for refugees and her face became one of the most powerful images in recent decades. ...

40. Cyprus worried as Taliban talks amnesty

The foreign ministry in the Republic of Cyprus said non-discrimination against women and girls in Afghanistan should be an 'immediate priority' while there was wide skepticism over Taliban’s latest amnesty comments...

41. Chaos as Biden defends withdrawal

Thousands of people desperate to flee Afghanistan thronged Kabul's airport on Monday after the Taliban seized the capital, prompting the United States to pause evacuations, as President Joe Biden confronted mounting criticism over the US withdrawal...

42. Cyprus sees glimmer of hope with Chevron

The government of the Republic of Cyprus says Chevron and Noble Energy have reaffirmed the importance that the two companies attribute to the development of Aphrodite gas field...

43. How Russian uncapitalism works

Like a private equity firm enacting an acquisition-led ‘roll-up’ in a fragmented sector, Putin and Co in Russian have been busy in recent years quietly taking scores of small banks into state ownership...

44. German giant acquires Foody

Cypriot startup Foody has been acquired by a German food delivery giant in a friendly takeover reaching dozens of countries all over the world...

45. The secret for a successful business reorganization

In the business universe, there are two available structures for organizations to emerge, organically and externally through mergers and acquisitions...

46. Demetra Investment acquires 16% stake in Lordos Hotels

47. Over a thousand employees choose Co-Op buyout

Over a thousand employees at Cyprus Cooperative Bank signed up for a voluntary severance package, well above the target of 900 set by the bank ahead of a takeover by Hellenic Bank...

48. 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...

49. Unions to discuss CCB severance offer

The Cyprus Cooperative Bank is making another effort to strike a deal with unions in order to get 900 employees agree to walk away...

50. President thanks parliamentary caucus for Sunday votes

President Nicos Anastasiades praised the ruling and opposition parties for approving state guarantees for Hellenic Bank as well as passing new foreclosure and bankruptcy laws, adding he would not respond to criticism...

51. House approves state guarantees in co-op deal

The House passed legislation Sunday night in favour of providing state guarantees to Hellenic Bank in its acquisition of Cyprus Cooperative Bank’s healthy portfolio...

52. House shifts into gear with Sunday bad loans session

It will be a long weekend for the House finance committee, which will hold emergency sessions ahead of a crucial Sunday vote on bad loans and state guarantees for Hellenic Bank...

53. 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...

54. Government welcomes Diko support on bad loans

The Cyprus government says it can work with opposition centrist party Diko to pass much needed comprehensive legislation on bad loans that would also pave the way for a co-op deal to go forward...

55. Bad loans revive MP financial disclosure debate

A ruthless debate is picking up steam among members of parliament following public discussion and media coverage that raises the issue of conflict of interest ahead of a crucial vote on bad loans...

56. AG names investigators to comb though co-op

A former judge, an economist, and a banker will make up the executive committee that will investigate any suspicious dealings that took place in the troubled Cypriot co-op...

57. 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...

58. 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...

59. 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...

60. Trump lawyer took money from firm linked to Russian oligarch

An attorney for porn star Stormy Daniels said that Donald Trump’s lawyer, Michael Cohen, was paid $500,000 by a company with ties to a Russian oligarch who was hit last month with US sanctions to punish Moscow for activities that included suspected meddling in the 2016 US election...