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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…


Latvia applies to enter Eurozone

Latvia has formally applied to be part of the euro in 2014, which would mean the 18th incorporation to the bloc. This long awaited move comes after the small Baltic state met the required financial criteria. Latvia is a victim of the recession due to the financial crisis and they have received an international…


Sylvia Lim, Workers' Party Chairman, explained on Tuesday that while she acknowledged the move towards a progressive tax system, there is even more possibilities to improve it. A progressive tax system provides, in her opinion, a possibility of reducing cost pressures in other areas and demonstrates…


Eurozone confident on Cyprus bailout

Eurozone finance ministers are confident on agreeing a bailout for Cyprus before the end of March. The bailout could be priced at 17bn euros (£ 15bn). Euro group head Jeroen Dijsselbloem expressed his will to help Cyprus, but the details still need to be discussed. This is likely to calm down Germany,…