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Parliament ratified the island's bailout

Parliament last night ratified the island's bailout amid warnings that tougher times lie ahead for Cypriots, already suffering from the effects of a deep recession. With the majority of just two votes, lawmakers approved terms accompanying 10 billion euros in aid from the European Union and the International…


The International Monetary Fund explained on Monday it is "carefully" monitoring massive capital flows into Asia and urged the region's policymakers to guard against risks of overheating. The level of the inflows - which have sent Asian stocks and property prices skyrocketing - are close to or above…


Global multinational corporations are willing to shift their investment budgets towards the region impressed by the continuing growth of the Asian Economy. This data has been supported by the latest Asia Business Outlook Survey by the Economist Corporate Network. China and India remain the top destination…


Cyprus has been an unwilling "guinea-pig" for the possible rule that will be enforcing a haircut on banks' deposits, President Nicos Anastasiades explained to European Union members in Nicosia yesterday. "Cyprus was treated as an experimental guinea-pig for testing the economic theory of enforcing a…


The Turkish Cypriot leadership claimed rights to the state gold locked away in the Cyprus Central Bank and earmarked for sale to meet the country's financing needs. According to Turkish Cypriot reports, the office of Turkish Cypriot leader Dervis Eroglu issued a statement in response to recent considerations…


After bank deposits above 100,000 EUR suffered a haircut, Cyprus and its president are looking for a solution to maintain the country's attractiveness to foreign investors. The government may soon offer EU citizenship to Russians hit by the Euro Group measures. The president explained yesterday in a…


Deloitte will be in charge of evaluating the implementation of Cyprus' Anti-Money Laundering (AML) framework, together with Moneyval of the Council of Europe. Preliminary key findings are expected around the 20th of April. International lenders will then report to the Euro group on the level of implementation…


EU finance ministers are meeting today in Dublin for two days of meetings where the main topic to discuss will be the Cyprus bailout.  Unfortunately, while numerous changes have been made and continue to be made to the terms of the bailout, the Cypriots remain in the dark about exactly what is being…


The time has come for Cyprus to pay for the past mistakes as the Finance Minister explained yesterday. He highlighted that Cyprus could have delays in the ratification of the bailout and this might have consequences. The government needed an additional €80 million on top of an €85 million reserve- before…