Major issues of today’s financial press are the banking sector and its performance in the CSE, as well as the reduced price in oil heating.
The “Economy” inset of newspaper “Phileleftheros” under the title “Who dumps banks” refers to banks’ negative performance in the CSE and reports their losses within the first nine months of 2002 (the Bank of Cyprus experienced losses of 42%, the Popular Bank of 34% and the Hellenic Bank of 23%). The report also highlights the estimates of three stockbrokers about the continual liquidations in the specific sector. Particularly, the two supported that liquidations are as a result of CSE’s instability, the Cyprus political problem developments, the slowdown of Cyprus growth rate, the instability in US Stock Exchanges and the possible American intervention in Iraq. On the other hand, the third stock broker believes that liquidations are due to portfolios restructuring, disposals from old investors and liquidations arising from pressures on margin accounts.
The “Economy” inset of newspaper “Simerini” under the title “Oil burning” refers to the ultimatum delivered to the Ministers of Finance and Commerce by the Parliamentary Commerce Committee concerning the reduced price in heating oil.
Elsewhere, the newspaper re publicized the article of “Stockwatch” about CSE’s immaturity to incorporate the regime of Market Maker.
The “Economic” inset of newspaper “Alithia” under the title “Cyprus economy: International organizations anticipate favorable conditions for 2003” refers to the accompanying letter of next year’s State budget, submitted to the Parliament by the Ministry of Finance. According to the report, Cyprus’ external environment will be more favorable in 2003, while the impact of the strict measures against terrorism are expected to weaken, with positive repercussions in international – and Cypriot – economy.
Elsewhere, the newspaper re-publicized the article of “Stockwatch”, which mentions that stockbroker firms will have to submit their application to convert into Investment Service Companies (ISC) by November 26.
The “Economy” inset of newspaper “Phileleftheros” under the title “Who dumps banks” refers to banks’ negative performance in the CSE and reports their losses within the first nine months of 2002 (the Bank of Cyprus experienced losses of 42%, the Popular Bank of 34% and the Hellenic Bank of 23%). The report also highlights the estimates of three stockbrokers about the continual liquidations in the specific sector. Particularly, the two supported that liquidations are as a result of CSE’s instability, the Cyprus political problem developments, the slowdown of Cyprus growth rate, the instability in US Stock Exchanges and the possible American intervention in Iraq. On the other hand, the third stock broker believes that liquidations are due to portfolios restructuring, disposals from old investors and liquidations arising from pressures on margin accounts.
The “Economy” inset of newspaper “Simerini” under the title “Oil burning” refers to the ultimatum delivered to the Ministers of Finance and Commerce by the Parliamentary Commerce Committee concerning the reduced price in heating oil.
Elsewhere, the newspaper re publicized the article of “Stockwatch” about CSE’s immaturity to incorporate the regime of Market Maker.
The “Economic” inset of newspaper “Alithia” under the title “Cyprus economy: International organizations anticipate favorable conditions for 2003” refers to the accompanying letter of next year’s State budget, submitted to the Parliament by the Ministry of Finance. According to the report, Cyprus’ external environment will be more favorable in 2003, while the impact of the strict measures against terrorism are expected to weaken, with positive repercussions in international – and Cypriot – economy.
Elsewhere, the newspaper re-publicized the article of “Stockwatch”, which mentions that stockbroker firms will have to submit their application to convert into Investment Service Companies (ISC) by November 26.
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