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Cyprus further relaxes capital controls

Cyprus partly eased restrictions on bank operations on Thursday by allowing free transactions of up to 300,000 euros (US$ 390,000) domestically and raising the ceiling for company payment abroad. A new decree issued by the Ministry of Finance raises the threshold for company payments abroad to 20,000 from 5,000 euros without prior approval by a Central Bank committee. Overseas transactions of between 20,001 and 300,000 euros still need a vetting by an ad hoc committee.

Cyprus eases controls on stricken banks

Cyprus eased from Friday unprecedented eurozone capital controls it imposed to prevent a run on its stricken banking sector, ending restrictions on all transactions under 300,000 euros ($393,000). But a daily cash withdrawal limit of 300 euros is to remain in place for at least the next seven days, the finance ministry decreed. Relaxing the controls has been an urgent goal for the government to enable cash-starved businesses to pay staff and suppliers.

Factbox - Cyprus bailout, financing needs

(Reuters) - Euro zone finance ministers are expected to give political approval on Friday to a 10 billion euro bailout package for Cyprus with a view to signing a formal agreement later in April. The first loans are expected to reach Nicosia in early May. Below are details of the package and its economic assumptions according to documents prepared by international lenders for the ministerial meeting and initially obtained by Reuters. WHAT ARE CYPRUS' TOTAL FINANCING NEEDS?

Benckiser group to buy Dutch Masterblenders for 7.5bn euros

Dutch tea and coffee producer D.E. Masterblenders said Friday it has reached a conditional agreement with a German investor group led by Johann A. Benckiser on a 7.5-billion-euro ($9.8-bn) takeover deal. The companies "have reached conditional agreement on a recommended full public offer for D. E. Masterblenders of 12.50 euros per ordinary share. The intended offer values outstanding Masterblender shares at approximately 7.5 billion euros," Masterblenders said in a statement. jhe/cjo/wai

Cyprus eases controls on stricken banks

Cyprus eased from Friday unprecedented eurozone capital controls it imposed to prevent a run on its stricken banking sector, ending restrictions on all transactions under 300,000 euros ($393,000). But a daily cash withdrawal limit of 300 euros is to remain in place for at least the next seven days, the finance ministry decreed. Relaxing the controls had an urgent goal for the government to enable cash-starved businesses to pay staff and suppliers.

Premia Foods increased turnover by 7% in Q1

The unaudited consolidated turnover of Estonian coldstore and refrigerated goods producer Premia Foods increased in the first quarter 2013 by 6.9%, i.e. by 1.2 million euros, if compared to the 1st quarter 2012, reaching 18.3 million euro in total, the company informed the NASDAQ OMX Tallinn. The turnover increased in all the target markets of Premia Foods and the growth came from the frozen goods and fish business segments. The turnover of the ice cream business segment was 0.1 million euro less than during the same period 2012.

Eesti Energia's revenue increase in 2012

Consolidated revenues of Estonian energy company Eesti Energia for 2012 amounted to 868 million euros (plus one percent, year-on-year), EBITDA - to 278 million euros (five percent more, year-on-year) and net profit - to 77 million euros (-48 percent, year-on-year), the company said in a statement.The group's revenues were supported by the higher sales of network services (plus 34.7 million euros) and liquid fuels (more by 16.9 million euros), while sales of electricity (less by 24.8 million euros) had a negative impact.The group's operating profit before impairment amounted t

Baltic advertising market up 3% in 2012

Compared to 2011, the Baltic advertising market grew 3 percent to EUR 242.7 million (LVL 170.5 million) in 2012, according to data from the market, social and media research company "TNS Latvia", Latvian Advertising Association and "TNS" companies in Estonia and Lithuania.The Latvian advertising market reached EUR 70.9 million (EUR 49.8 million) in 2012, a 3 percent increase on 2011. The Lithuanian advertising market grew 0.7 percent to EUR 99.4 million (LVL 69.85 million).

Cyprus must cut more before getting loan

Cyprus must still adopt 351 million euros in austerity measures in its 2013 budget before receiving EU financial aid expected in May, according to a bailout agreement signed with international lenders. "Over 2013, the authorities will rigorously implement the 2013 budget law with additional permanent measures of at least 351 million euros (2.1 percent of GDP)," says the memorandum of understanding, seen by AFP.

18.5 pct of employees receive EUR 246 wage in Lithuania in 2012

Statistics Lithuania informs that in October 2012, compared to October 2011, the number of employees (including individual enterprises) whose gross earnings amounted to LTL 850 (EUR 246.1) and lower stood at 18.5 percent (195,000.). More than half of employees (113,300) receiving LTL 850 (EUR 246.1) and less were working part-time.
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