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

Cyprus in lockdown: All the new measures

A new decree under the Quarantine Law Act was issued today by Health Minister Constantinos  to tackle coronavirus . This is the full text of...

Israel to use computer analysis to find likely coronavirus carriers

Israel's defence ministry plans to use software that analyses data gathered from mobile phones - produced, according to Israeli media, by the spyware firm...

Exceptions to ‘one permission a day’ rule

    Tougher lockdown rules come into force at 6 am on Tuesday, with members of the public only allowed to send one SMS to leave...

Man who assaulted police during check jailed for 20 days

The Limassol District Court sentenced a 30 year old man from Georgia on Monday to 20 days in jail for assaulting police officers last...

Cyprus tightens lockdown-UPDATE

Permission to leave the house will be limited to once a day and gatherings at houses will be restricted only to its residents, under...

Taste

Village olive pie

Mix the yeast with the lukewarm water and put it aside for about 12-15 minutes to settle.  Sift the flour with the salt into...

Skordalia (Garlic paste)

Rinse the potatoes and place, unpeeled, in a saucepan. Cover with water, add salt and allow to simmer for 20-30 minutes until soft. Drain,...

Village salad

A must-have with every meal is a village salad. You will find it in every tavern or greek restaurant you visit in Cyprus. Make...

Courgettes with eggs

Heat the oil in a frying pan and fry the courgettes at a medium heat until they soften. Add salt and add the eggs....