BRUSSELS - Cyprus received €178m in EU funding in 2010 according to the official website of the European Union.
It contributed €158m to the EU budget and collected €35.2m in customs and farm trade duties on behalf of the EU, of which it retained 25% as an administrative fee.
Cyprus...

Moody's Investors Service has today downgraded the long-term deposit and debt ratings of three Cypriot banks, namely Bank of Cyprus, Marfin Popular Bank and Hellenic Bank.

 

Particularly, Moody's downgraded Marfin Popular Bank by three notches to B2 from Ba2 and Bank of Cyprus and...

Andreas Vgenopoulos submitted his formal notice of resignation on Friday ''both from my position as the non-executive Chairman of Marfin Popular Bank as well as a Member of the Board,'' according to a statement he issued.

In his statement, he notes that he has recommended as his...

NICOSIA—Greece’s decision to hold a referendum on its latest rescue plan will prove to be detrimental for the eurozone, said Cypriot Nobel economics laureate Christopher Pissarides.
Speaking to CNA from London, Pissarides said the new developments created after the Greek government's decision...

NICOSIA - Cyprus issued 245 million euros in 13-week treasury bills at an auction on Friday with an average yield of 4.60%, up from 3.50% at the last issue of similar bills in July, a finance ministry statement showed.
Authorities said they accepted all submitted bids worth 245 million euros,...

NICOSIA - Cyprus is considering with the Central Bank of Cyprus the possibility of asking the ECB to buy back government bonds held by Cypriot banks, its finance minister said on Wednesday, in a bid to lower yields on government paper which have spiked on the secondary market in recent...

ATHENS - The governing boards of Alpha Bank and Eurobank in Greece, the country’s second and third largest respectively, are meeting later today to sign a merger agreement.
Also participating in the deal are investors from Qatar with a 20% stake, making them a major shareholder.
With assets...

NICOSIA -- The rate of inflation in Cyprus for July 2011 was 3,5%, as measured by the Harmonized Index of Consumer Prices (HICP).

 

According to the Statistical Service ''the rate of inflation for July 2011 dropped to 3,5% compared to 4,5% in June 2011 and 2,7% in July...

NICOSIA — Standard & Poors agency cut Cyprus' credit grade by one notch to BBB+, or three notches above junk status on Friday, and warned of a further downgrade on concerns that the country won't meet its deficit reduction targets for the next two years.

The downgrade comes on the back...

NICOSIA - A business forum will take place in Kiev, Ukraine, on Monday, July 4 – part of an official visit there by President Christofias.
An official announcement also said that the forum is organised by the Cyprus Chamber of Commerce and Industry and the Ministry of Commerce, Industry and...