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All reports tagged with: "finance"

The state of our economy

Let’s engage in some self-criticism, recognize our mistakes, and try to overcome the impasses, shedding old habits; and this goes for businesses and banks alike. It’s time for us to change.

Bank of Cyprus takes a €1 billion hit on Greek debt

The Bank of Cyprus, the Island’s largest lender, posted a net loss of 1.01 billion Euros in its 2011 results on Tuesday after making a writedown totalling 1.32 billion Euros on its Greek sovereign debt holdings.

Fitch places Cyprus on rating watch negative

Credit ratings agency Fitch has placed Belgium, Spain, Slovenia, Italy, Ireland and Cyprus on rating watch negative as it believes that a ‘comprehensive solution’ to the Eurozone crisis is technically and politically beyond reach.

Standard & Poor’s downgrades Cyprus’ credit rating

Yesterday Standard & Poor’s downgraded Cyprus’ long-term credit rating to BBB due to the banks exposure to the Greek debt, which it estimates to be 165 percent of the Island’s Gross Domestic Product.

Moody’s downgrades Cyprus rating two notches

Yesterday Moody’s Investors Service downgraded Cyprus government bond ratings by two notches to A2 from Aa3, reflecting its view of the country’s weakening medium-term credit fundamentals.

Britons face big losses as prices tumble

British overseas home owners are facing disastrous financial losses as tumbling prices in overseas real estate markets have wiped an estimated £24 billion off their investments, according to new research.

Steps to speed Cyprus Title Deeds issue flop

In a leaked confidential letter to President Christofias, the Cyprus Finance Minister has admitted that steps taken to accelerate the issue of Title Deeds have not added a single Euro to the state’s coffers.

Is property in Cyprus overpriced?

In the wake of Cyprus’ remarkable real estate boom many people believe that property on the Island is overpriced. Here is a simple test to see if they are correct.

Bank of Cyprus loan for Limassol marina

An agreement has been reached between the Bank of Cyprus and Limassol Marina Limited for a loan for the construction of the new marina which should open in 2012.

E-Clear collapse linked to Cyprus development company

Investigators have learnt of a possible link between that collapse of the credit card company E-Clear and a property development company in Cyprus.

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