News

Cyprus's revised draft bill for a levy on bank deposits will not affect deposits under 20,000 euros.  However, this measure does not compensate for the resulting lost revenue by raising it for the wealthy. The draft will not fulfill the conditions required by the Euro group in return to the 10 billion…


The EU will lend Cyprus 10 billion to avoid the bankruptcy. The statement was made after Cyprus woke up with a decision to impose an unprecedented all-out haircut on Cypriot deposits.  President Anastasiades in a press conference yesterday explained that they have faced decisions that had already been…


After weeks of negotiations the bailout has not been signed yet. The delay on the funding for Cyprus presents a risk for the whole Eurozone, as Mr. Demetriades, Central Bank governor explained. According to Reuters Agency, the negotiations are still at a delicate state. Demetriades said that reigniting…


The new Cypriot government is considering opening casinos on the island within two years, promoting a project that was not approved by the previous government due to ideological reasons. Giorgos Lakkotrypis, the commerce minister has spoken with the Cyprus Tourism Organizations and has requested an…


China's commerce minister has advised other major governments to avoid suppressing the value of their actual currencies to help exports. In his opinion, this measure could cause damage to the global worth. Mr Chen Deming was answering to some of the questions made at the news conference on Friday about…


Cyprus officials have stated said that Russian investors were interested in buying a majority stake in Cyprus Popular Bank and increasing their holdings in Bank of Cyprus - the two biggest banks on the Mediterranean island. President Nicos Anastasiades will travel to Russia to meet President Vladimir…


International lenders have increased pressure on Cyprus by stating that Corporate Tax needs to be raised in addition to introducing a levy on capital gains and a financial transaction tax. Eurozone officials explained that these measures are required to be introduced in order to enable Cyprus to repay…


Deputy Prime Minister Teo Cheen Hean highlighted on Thursday that the current Singaporean situation is to not allow Singaporeans to hold dual citizenship as it will not strengthen them neither "as people or nation" "Allowing Singaporeans to retain or acquire a second citizenship is unlikely to enhance…