Blog
20/07/2018
The rating agency described the sale of Bank of Cyprus UK as positiveBank of Cyprus announced last Tuesday it signed a binding agreement to sell Bank of Cyprus UK to Cyenergy Capital Limited, owned by a consortium of UK-based investors, a sale for a consideration of €117 million and a profit of €3 million.Rating Agency, Moody’s {https://www.moodys.com}, has described the sale of Bank of Cyprus subsidiary, Bank of Cyprus UK, as...
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...
08/06/2018
On the 29th of May, the Secretary-General of the International Maritime Organisation (IMO), Kitack Lim, addressed the Cyprus Shipping Chamber (CSC) at the Annual General Meeting in Limassol. Lim stated that despite Cyprus being a small nation in size, it is a strong and influential nation when it comes to maritime.In recent events, Cyprus has been negotiating a deal with international corporations and powerful nations regarding the gas...