07/10/2014 07:30
The major issue in today’s financial press is the announcement issued by Wilbur Ross and Tyrus Capital for the election of the new Board of Directors of Bank of Cyprus at the Annual General Meeting on November 20.
The daily press focuses on the briefing of the party leaders by the President of the Republic on the provocative stance of Ankara, which questions the sovereign rights of the country in the Cyprus’ EEZ.
The “Economy” inset of newspaper “Phileleftheros” refers to the interview of the American major shareholder of Bank of Cyprus, Wilbur Ross to the newspaper. As noted, Mr. Ross said that investing in the largest bank is like buying pre-emption rights in the Cypriot economy, stressing that the tourism industry and the service sector are a great combination that will yield significant long-term income in Cyprus.
He also stressed that the long-lasting relationships with Deutsche Bank and the head of the bank Josef Ackerman is what led to the choice to be proposed as Chairman of Bank of Cyprus in the forthcoming annual general meeting of the shareholders on November 20.
Elsewhere the newspaper reports that the payment of the minimum guaranteed income started yesterday.
Other headlines:
-Long-term unemployment in Cyprus up by 2%
-Hot impediments for stress tests
-New round of disputes for MoU
The “Economy” inset of newspaper “Politis” refers to the announcement issued by Wilbur Ross and Tyrus Capital yesterday for the election of the new Board of Directors of Bank of Cyprus in the annual general meeting on November 20. As noted, the new shareholders propose a 10-member Board, headed by former CEO of Deutsche Bank, the 66-year old Swiss banker, Josef Ackerman.
“Politis” also reports that according to Cystat data, the number of the registered unemployed in September declined to 43.017 persons from 45.583 in late August and 47.017 in September 2013.
Other headlines:
-They want renegotiation – Registration of issue for MoU in House Finance Committee by majority
-Long-term unemployment in Cyprus is a thorn, EU says
-Turn to capital – Role of bank loans to properties restricted
-HB pushed CSE up
The “Economy” inset of newspaper “Simerini” refers to the renegotiation of the memorandum agreed by the opposition parties yesterday during an ex-officio session of the House Finance Committee. After the session, Chairman of the Committee, Nicolas Papadopoulos announced that the decision relates to the discussion of information on the state of implementation of the Memorandum by the Finance Minister and the need for evaluation and renegotiation of the Memorandum and the financing contract of the Republic.
The newspaper also reports that according to Chairman of the Depositors’ Association of former Laiki Bank, Adonis Papaconstantinou stressed that the creditors of former Laiki Bank must continue to be represented in the Board of Bank of Cyprus.
Other headlines:
-Provocative management fees – Reactions for golden contracts in banks continue
-Turkish fund consultant in the BoD of BOCY
-New posts in public sector, education and police
-Shorter unemployment list in September
The “Economy” inset of newspaper “Haravgi” refers to the decision of the opposition parties to launch talks in Parliament for the course of the economy and the need to renegotiate the memorandum.
“Haravgi” also reports that according to Eurostat data, in the past four quarters the salaries in Cyprus have recorded the largest decline than any other EU country. At the end of 2014, the purchasing power of the average salaries will record a 18-year low.
Other headlines:
-Benefit for 19.500 pensioners to be cut
-Ross list for BoD of BOCY
-PASYPI: Appointment of foreign specialists
-First taste of stress tests
The “Economy” inset of newspaper “Alithia” refers to the dispatch of the first cheques for the minimum guaranteed income. According to Labour Minister, 65 thousand applications have been submitted so far, 15 thousand of which are from new applicants, who did not receive any benefit from the state.
Elsewhere the newspaper reports that according to Eurostat data, on an annual basis in the second quarter of 2014, employment dropped by 1.4% in Cyprus.
Other headlines:
-Josef Ackerman new Chairman – BOCY
-Allocation of disability pension
The daily press focuses on the briefing of the party leaders by the President of the Republic on the provocative stance of Ankara, which questions the sovereign rights of the country in the Cyprus’ EEZ.
The “Economy” inset of newspaper “Phileleftheros” refers to the interview of the American major shareholder of Bank of Cyprus, Wilbur Ross to the newspaper. As noted, Mr. Ross said that investing in the largest bank is like buying pre-emption rights in the Cypriot economy, stressing that the tourism industry and the service sector are a great combination that will yield significant long-term income in Cyprus.
He also stressed that the long-lasting relationships with Deutsche Bank and the head of the bank Josef Ackerman is what led to the choice to be proposed as Chairman of Bank of Cyprus in the forthcoming annual general meeting of the shareholders on November 20.
Elsewhere the newspaper reports that the payment of the minimum guaranteed income started yesterday.
Other headlines:
-Long-term unemployment in Cyprus up by 2%
-Hot impediments for stress tests
-New round of disputes for MoU
The “Economy” inset of newspaper “Politis” refers to the announcement issued by Wilbur Ross and Tyrus Capital yesterday for the election of the new Board of Directors of Bank of Cyprus in the annual general meeting on November 20. As noted, the new shareholders propose a 10-member Board, headed by former CEO of Deutsche Bank, the 66-year old Swiss banker, Josef Ackerman.
“Politis” also reports that according to Cystat data, the number of the registered unemployed in September declined to 43.017 persons from 45.583 in late August and 47.017 in September 2013.
Other headlines:
-They want renegotiation – Registration of issue for MoU in House Finance Committee by majority
-Long-term unemployment in Cyprus is a thorn, EU says
-Turn to capital – Role of bank loans to properties restricted
-HB pushed CSE up
The “Economy” inset of newspaper “Simerini” refers to the renegotiation of the memorandum agreed by the opposition parties yesterday during an ex-officio session of the House Finance Committee. After the session, Chairman of the Committee, Nicolas Papadopoulos announced that the decision relates to the discussion of information on the state of implementation of the Memorandum by the Finance Minister and the need for evaluation and renegotiation of the Memorandum and the financing contract of the Republic.
The newspaper also reports that according to Chairman of the Depositors’ Association of former Laiki Bank, Adonis Papaconstantinou stressed that the creditors of former Laiki Bank must continue to be represented in the Board of Bank of Cyprus.
Other headlines:
-Provocative management fees – Reactions for golden contracts in banks continue
-Turkish fund consultant in the BoD of BOCY
-New posts in public sector, education and police
-Shorter unemployment list in September
The “Economy” inset of newspaper “Haravgi” refers to the decision of the opposition parties to launch talks in Parliament for the course of the economy and the need to renegotiate the memorandum.
“Haravgi” also reports that according to Eurostat data, in the past four quarters the salaries in Cyprus have recorded the largest decline than any other EU country. At the end of 2014, the purchasing power of the average salaries will record a 18-year low.
Other headlines:
-Benefit for 19.500 pensioners to be cut
-Ross list for BoD of BOCY
-PASYPI: Appointment of foreign specialists
-First taste of stress tests
The “Economy” inset of newspaper “Alithia” refers to the dispatch of the first cheques for the minimum guaranteed income. According to Labour Minister, 65 thousand applications have been submitted so far, 15 thousand of which are from new applicants, who did not receive any benefit from the state.
Elsewhere the newspaper reports that according to Eurostat data, on an annual basis in the second quarter of 2014, employment dropped by 1.4% in Cyprus.
Other headlines:
-Josef Ackerman new Chairman – BOCY
-Allocation of disability pension
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