Micro News

Coutts & Co Ltd seen in bribery

Private bank Coutts & Co Ltd have to pay a fine of HK$7 million (724,295 British Pounds) for violating licensing terms. A branch of Coutts & Co Ltd in Hong Kong is suspected of money laundering and aiding terrorism. As stated by Hong Kong Monetary Authority (HKMA), whilst completing audit of financial…


Banks against payment systems

Banks are losing their customers, as customers now prefer to send money through various payment services. TransferWise’s online service owner, Taavet Hinrikus, quoted as saying “due to rate mark ups losses up to 5.6Billion pounds in the UK per year”. Employees of the Bank Santander Group has tried to…


This dangerous humor

Humor in the workplace can be dangerous. This is the conclusion of the representatives of Singapore business school - National University of Singapore (NUS) Business School. According to the survey results from the focus group, a wicked sense of humor from the management may encourage employees to miss…


Last Thursday, the Turkish Government announced its intentions regarding the oil and gas fields off the coast of Northern part of Cyprus. The Turks living on the island have equal rights, said the Turkish Foreign Minister Cavusoglu. It was made clear that from the beginning of next week in the Eastern…


Greeks and Turks living in Cyprus, cannot come to a mutual agreement in the division of territory between the two States. Countries continue to clash. UN’s envoy for Cyprus, Espen Barthe Eide was engaged to resolve disputes. Eide, a former Norwegian Foreign Minister, has been overseeing the talks between…


An anonymous leak regarding thousands of suspicious client accounts at Zurich-based Credit Suisse could not have come at a worse time for Switzerland and its banks. The data that led to raids in 5 different countries sheds new unfavourable light on the efficiency of Switzerland's efforts to combat global…


International payment system is developing a payment screening service, which tasks will be to protect the financial information of small banks. The new service will be offered to customers from 2018. It will look like the marking of suspect payments in real time, allowing customers to postpone unusual…


Surcharges for roaming in Europe stops

The roaming’s surcharges in Europe stops from 15th June. Up to this date travelers through the EU countries are being charged fee for the using the mobile phone: €0.19 per minute for outgoing calls, €0.06 per each SMS, €0.20 per MB of Mobile Internet and €0.05 per minute for incoming calls. These figures…


Greeks seeks work in Cyprus again

Due to the growing uncertainty in Greece, citizens have to seek working in neighboring States. Official statistics shows that the number of Greek employees in the Cyprus’s companies is growing rapidly. This fact is based on the stabilization of the economic situation in Cyprus in 2016. Mostly, Greeks…


IEF (International Economic Forum) has assessed the effectiveness of the judicial system in Cyprus. By the decision of the EU’s Commission last Monday, the Cypriot justice system remains very poor, as evidenced by the reality that not all legal decisions were brought to a close. Previously, the state…



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