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  • September 16, 2014
  • Last updated: 7:44pm
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Results 1 - 8 of 8 for cyprus

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  1. Business - Economy

    Last-minute deal resurrects Cyprus bailout

    Posted Mar 25th 2013, 10:22am by AFP

    ... Agence France-Presse in Brussels EU and IMF officials struck a last-minute deal with Cyprus early Monday to resurrect a bailout for the island- but one banking chain goes to the wall ... of Cyprus, the island’s No.1, will take a major “haircut”-- a forced wipeout of investment value, on all deposits of more than 100,000 euros. The Bank of Cyprus, with one third of all holdings, ...

  2. News - World - FINANCE

    Big Cyprus savers could lose 60pc

    Posted Mar 31st 2013, 12:00am by AFP

    ... Agence France-Presse in Nicosia Some money to be converted to shares under €10b EU bailout, but another portion held Big Cyprus savers could lose 60pc Big savers in Cyprus' largest ... of the financial meltdown. Officials said Bank of Cyprus savers will see at least 37.5 per cent of funds over €100,000 turned into shares, but a further 22.5 per cent will be held until authorities know ...

  3. Business - Comment - MONITOR

    It's risk-off again as troika plays with fire in Cyprus

    Posted Mar 19th 2013, 12:00am by Tom Holland

    ... as troika plays with fire in Cyprus Anyone who thought financial markets had broken out of the risk-on, risk-off cycle that has dominated trading for the last couple of years surely changed their mind yesterday. In Hong Kong the benchmark Hang Seng stock index tumbled 2 per cent as investors reacted to the proposed bail-out deal for Cyprus by rushing to take their money off the table. ...

  4. News - World - Cyprus

    Cyprus girds for run on banks after sealing bailout

    Posted Mar 25th 2013, 09:33pm by Reuters in Nicosia

    ... Reuters in Nicosia The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests and would end anxiety, but he also announced ... (US$13 billion) rescue plan agreed there in the early hours of the morning was “painful” but essential to avoid economic meltdown. He has agreed to close down the second-largest bank, Cyprus ...

  5. Business - Economy

    Cyprus president in desperate bid to prevent run on banks

    Posted Mar 18th 2013, 09:56am by AFP

    ... of a run on accounts if he fails. Anastasiades, in an address to the shell-shocked nation on Sunday night, said that rejecting the EU demands would have seen Cyprus exit the eurozone and face ... 10-billion-euro (HK$101.5 billion) bailout for Cyprus, fellow eurozone countries and international creditors Saturday imposed a levy on all deposits in the island’s banks. Deposits of more than 100,000 ...

  6. Business - Money - SHARES

    Cyprus bank levy spooks Hong Kong investors

    Posted Mar 19th 2013, 12:00am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Shares fall 2 per cent – the most in a month – as plan to tax deposits triggers panic selling over fears of financial instability in Europe Cyprus banks levy hammers HK stocks Hong Kong stocks had their largest fall in more than a month yesterday, led by HSBC, as plans by Cyprus to levy an unexpected tax on bank deposits triggered fresh worries over ...

  7. News - World - EUROPEAN DEBT CRISIS

    Cypriots shocked as euro bail out includes 10pc tax on bank accounts

    Posted Mar 17th 2013, 12:00am by AGENCIES

    ... on savings Residents of Cyprus reacted with shock yesterday after the government agreed to a €10 billion (HK$101 billion) bailout that includes an unprecedented levy on all bank deposits. The debt rescue package, agreed with the euro zone and International Monetary Fund earlier in the day in Brussels, is significantly less than the €17 billion Cyprus had initially sought. But it includes ...

  8. Business - Comment - MONITOR

    Thank the Cypriot parliament for averting euro-catastrophe

    Posted Mar 21st 2013, 12:00am by Tom Holland

    ... government and the European authorities in a fiendishly difficult position entirely of their own making. The problem for Cyprus is that its banks are enormous relative to its overall economy. ... in Cypriot banks stood at 700 per cent of the island's gross domestic product. Unfortunately, the bankers of Cyprus took rather too much of that money and invested it in Greek government bonds. ...



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