ECB, ESM, IMF, Commission call on Cyprus to renew reform momentum

ECB, ESM, IMF, Commission call on Cyprus to renew reform momentum

he ECB, ESM, IMF and the European Commission call on Cyprus to renew reform momentum, reduce the current level of NPLs through legislation and maintain sound public finances, in a report compiled duri [...]

House Finance Corporation extends loan facilities

The Housing Finance Corporation (HFC) is expanding its low-interest lending activities to household goods, overdrafts, student and medical loans, it announced on Wednesday. The corporation, which has [...]

Cyprus to launch new tender for LNG import in April

Cyprus’ Natural Gas Public Company (DEFA) will launch two separate tenders for the import of liquefied natural gas (LNG) this year to facilitate the use of LNG for electricity generation by January [...]

Co-op high-tech feature to lure investors

The co-op bank on Monday opened a virtual data room that will be used by potential investors to securely exchange data and analyses, as the lender seeks to reduce the state’s share. The procedure la [...]

How the bank workers clawed back their 2013 losses

The decision to bail in depositors at Bank of Cyprus and Cyprus Popular Bank, widely known as Laiki, wiped out €8bn in deposits held at the island’s largest lenders. For many it meant a disaster. [...]

S&P keeps Cyprus at BB+ rating, positive outlook, citing NPLs

While Cypriot banks, which are struggling with a €20bn mountain of bad debt, roughly two fifths of their loan portfolio, are making efforts to reduce them via loan write-offs and restructuring and o [...]

Government starts repaying €2.5bn Russian loan

The Russian loan accounted in September for 13 per cent of the total public debt of €18.8bn, according to the latest available figures on the website of the Public Debt Management Office. Source: Cy [...]

Capital Intelligence affirms Cyprus’s rating, outlook placed on positive

The economy is expected to grow at a rate about 3 per cent this year and in 2019, the rating company said. Capital Intelligence also cited the government’s satisfactory access to finance and the gra [...]

Government raises more than €9 million through a six-year bond issue

The Ministry of Finance has raised €9,04 million through a six-year bond issue for natural persons 3rd Series (March 2018), the Public Debt Management Office (PDMO) said in a press release. The PDM [...]

Co-op workers give union green light to call strike

Workers at the Cyprus Cooperative Bank (formerly the Cooperative Central Bank) on Thursday gave their union the green light to take all necessary action, including strikes, as a reaction to the bank [...]

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