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21/09/2018
In a move that’s been hailed by Cypriot authorities as a testament to the island’s steady return to growth, Standard & Poor’s has upgraded Cyprus’ sovereign rating by assigning it a BBB- last Friday. The news of Cyprus’ return to investment grade, comes after more than six years of S&P having downgraded the Cypriot rating to junk.In its announcement, S&P explained the rationale behind its decision in...
14/09/2018
Andreas Eliades’ controversy over both the legal aspect and the rationale for the decision was expressed by General Prosecutor Kostas Clerides, who was asked to comment on the Supreme Court's acquittal, following a similar appeal register.Mr Clerides said that "the Legal Service is working to ensure that, in the context of investigating the causes of the collapse of the financial system in Cyprus, wherever possible criminal...
12/09/2018
In recent years, Turkey has been one of the fastest-growing economies in the world, even outperforming economic giants China and India.In the second quarter of 2018, the country reported 7.22 percent growth in its gross domestic product (GDP).Nevertheless, the free fall in the Turkish Lira of the past months, has sparked fears of an economic fallout that could spread over to other emerging markets and the banking systems in Europe.The expansion...
31/08/2018
The chairman of the group's Board of Directors, informed the body of his intention to leave his post in 2019.At the same time, the Board of Directors announced the extension of the appointment of John Patrick Hourican to the position of Group Chief Executive Officer by December 31, 2020.The bank's announcement:The Boards of Directors of Bank of Cyprus Holdings Public Limited Company ("BOC Holdings") together with its...
24/08/2018
Hellenic Bank announced that its shareholders had met on Wednesday and passed a €100m capital increase through a rights issue as part of the bank’s agreement to acquire the healthy operations of the Cyprus Cooperative Bank.The shareholders approved a resolution which will allow Poppy SARL, a company affiliated with Pacific Investment Management Company LLC (PIMCO), to contribute an additional €50m to the capital raise, Hellenic...

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