Bank of Cyprus reported losses of 2.04 billion euro for 2013, slightly less than the 2012 losses of 2.21 billion euro as a result of a decrease in losses during the last two quarters of 2013. The total loss during the second half of the year was down to 235 million total. Non-serviceable loans for […]
According to findings of the Credit Information Specialist CMA covering the first quarter or 2012, Cyprus is now ranking as the number one nation in the list of countries who might not be able to pay their debts in the next five years.
While international financial institutions are threatening Cyprus and local banks with rating downgrades, foreign investors appear to disagree.
This is an excerpt from a very interesting article posted on Financial Mirror about the Cyprus economic competitiveness and the failed attempts being made on promoting the tourist industry.
Cyprus’s parliament on Thursday passed legislation imposing a 0.095 percent tax on deposits of banking institutions, saying part of it would help create a financial stability fund.
