Blog

13/07/2018
Introduction:The vote on the guarantees by the House of Representatives earlier this week, puts an end to the climate of insecurity that has prevailed over the last few weeks between citizens.Article:With the agreement reached, and the parliamentary vote of the legislature and guarantees passed by the House of Representatives, the confidence and the stability in the Cypriot banking system, which has suffered as much as no other sector in Cyprus...
09/07/2018
Following the unfortunate circumstances of the Cyprus Cooperative Bank (CCB), the European Commission has reviewed the case and has approved the fiscal actions taken to help reduce the plethora of NPL’s.The Cyprus government has issued €2.35 billion to facilitate the sale of all of the bad debts of the CCB. However, the European Commission has commented on the potential risks of this move. Highlighting that the state of South Cyprus...
29/06/2018
At no point does a financial institution or lender want to have non-performing loans (NPL’s). When a lender loans a sum of money to another party, it is expected that the agreement will be fulfilled and the receiver of the loan will pay back in full including interest rate.The Cyprus News Agency (CNA) had followed and reported the progress of the merger of the Co-operative Bank in Cyprus and Hellenic Bank.The Co-operative Bank in Cyprus...
22/06/2018
In January 2010, FBME card services filed a complaint to the Administrative Court against JCC conspiring with eight of its shareholders (Bank of Cyprus, Marfin Laiki, Hellenic Bank, USB Bank PLC, Alpha Bank Cyprus Ltd., Emporiki Bank of Cyprus Ltd., National Bank of Greece (Cyprus) Ltd., and Societe Generale Cyprus Ltd.) to weaken their influence of the cards payments processing market.In 2016, the Administrative Court had denied to process this...
20/06/2018
If you have noticed the increase in gas prices in Cyprus, you must be wondering why this is happening. This is a reaction to the change in the management of resources, switching from the hands of the state and into the hands of the private sector.On May 1st, 2004, with the acception of Cyprus into the European Union, many products including petroleum products were moved from the management of the state to the hands of the private sector.In turn...

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