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Media Centre

EBRD willing to invest €800m

  • Friday, 10 October 2014 08:43
THE European Bank for Reconstruction and Development (EBRD) has expressed its willingness to invest around €800m into the Cypriot economy, mainly in the energy and tourism sectors, privatisation of semi governmental organisations and major projects of…

Josef Ackermann to join Bank of Cyprus board

  • Wednesday, 08 October 2014 08:26
Josef Ackermann is set to become non-executive chairman of Bank of Cyprus in an overhaul of its board of directors proposed by some of its biggest shareholders including Wilbur Ross, the US private equity billionaire.
Antonis Samaras’s ambition to drive Greece out of its rescue program is running into a roadblock.
The Bank of Cyprus board decided on Tuesday to call for a shareholders’ meeting within 60 days, when US-based investor Wilbur Ross is expected to be elected to the board, representing funds that now control about…

Single borrowers’ registry by month’s end

  • Friday, 26 September 2014 13:09
THE integration of the borrowers’ registries kept by co-ops and commercial banks will be completed by the end of the month, it emerged on Wednesday, as part of the terms of the island’s bailout.