News Local A step forward but still a long way to go for CCB...

A step forward but still a long way to go for CCB negotiations

Hellenic Bank’s decision to increase its capital in order to meet the need for a possible acquisition of the ‘good’ part of the bank changes the setting in CCB negotiations. Yesterday, discussions with the possible investors went in great depth on matters of defining capital and managing passive assets. Efforts were also made to shed some light on the ‘gray’ araeas of the Hellenic Bank and Apollo Fund proposals.

Investors are pushing for a reduction in capital requirements. In addition, the government, as a major shareholder of the CCB, needs to find ways to narrow the gap without needing further support from taxpayers.

The initial assessment of the Supervisory Authorities is that funds of € 550 million are required. For Hellenic Bank, the issue revolves around Wargaming, one of its major shareholders, and its willingness to issue capital. A smaller sum, under € 550 million, would favour Wargaming, as it would not significantly reduce its share in the company.

Top Stories

No coronavirus patients in hospital

  There are no coronavirus patients in hospital after a patient who was being treated at Famagusta Hospital, which is the referral hospital for Covid-19,...

Three arrests after man tries to fly out of Larnaca with fake passport

Two persons attempted to fly on Monday from Larnaca airport to a European destination, one of whom was caught with a fake passport, according...

Cyprus to tap capital markets, reopening existing 2024, 2040 bonds

  Cyprus announced it will tap two existing bonds maturing in 2024 and 2040 for a minimum amount of €500 million, in a bid to...

Latest on the worldwide spread of the coronavirus

Latest update: 07/07/2020 08:14 The World Health Organization is reviewing a report urging it to update guidance on the novel coronavirus after more than 200...

The Nomad Bar Food Experience is coming

      ‘Nomads · populations where the strategy for survival is mobility to detect scattered exploitation resources, groups of hunters… shepherds… traders… roots…...

Taste

Cyprus sprouts with cream and prosciutto

In a big, deep frying pan, fry the prosciutto in the olive oil, on medium heat for 2 minutes. Add the onion and garlic...

Pork burger with sundried tomatoes, mozzarella and anchovies

Mix all the ingredients together with the mince in a bowl, and combine well. Divide into 4 balls and form the burgers. Warm a griddle/pan...

Sheftalies

Wash the lamb cauls with plenty of cold water and let them settle in water and vinegar for a little while. Soak the bread crumbs...

Loukaniko Pitsilias – Pitsilia Sausage

Pitsilia sausage is produced in the Pitsilia region from pork minced meat that is “cooked” ( matured) in the dry red wine of the...