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Marfin Popular Bank
Cyprus Popular Bank (from 2006 to 2011 known as Marfin Popular Bank (MPB)) was the second-largest banking group in Cyprus behind the Bank of Cyprus until it was 'shuttered' in March 2013 and split into two parts. The 'good' Cypriot part was merged into the Bank of Cyprus (including insured deposits under 100,000 Euro) and the 'bad' part or legacy entity holds all the overseas operations as well as uninsured deposits above 100,000 Euro, old shares and bonds. The uninsured depositors were subject to a bail-in and became the new shareholders of the legacy entity. As at May 2017, the legacy entity is one of the largest shareholders of Bank of Cyprus with 4.8% but does not hold a board seat. All the overseas operations, of the now defunct Cyprus Popular Bank, are also held by the legacy entity, until they are sold by the Special Administrator, at first Ms Andri Antoniadou, who ran the legacy entity for two years, from March 2013 until 3 March 2015. She tendered her resignation due to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listing (finance), listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states and so have associations and formal designations, which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation, though a corporation need not be a public company. In the United Kin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Laiki Bank Closure Notice, Finchley, London, 2013
A marketplace, market place, or just market, is a location where people regularly gather for the purchase and sale of provisions, livestock, and other goods. In different parts of the world, a marketplace may be described as a ''souk'' (from Arabic), ''bazaar'' (from Persian), a fixed '' mercado'' (Spanish), itinerant ''tianguis'' (Mexico), or ''palengke'' (Philippines). Some markets operate daily and are said to be ''permanent'' markets while others are held once a week or on less frequent specified days such as festival days and are said to be ''periodic markets.'' The form that a market adopts depends on its locality's population, culture, ambient, and geographic conditions. The term ''market'' covers many types of trading, such as market squares, market halls, food halls, and their different varieties. Thus marketplaces can be both outdoors and indoors, and in the modern world, online marketplaces. Markets have existed for as long as humans have engaged in trade. The earli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Famagusta
Famagusta, also known by several other names, is a city located on the eastern coast of Cyprus. It is located east of the capital, Nicosia, and possesses the deepest harbour of the island. During the Middle Ages (especially under the maritime republics of Genoa and Venice), Famagusta was the island's most important port city and a gateway to trade with the ports of the Levant, from where the Silk Road merchants carried their goods to Western Europe. Names The city was known as Arsinoe or Arsinoë (, ''Arsinóē'') in antiquity, after Ptolemy II of Egypt's sister and wife Arsinoe II. By the 3rd century, the city appears as Ammochostos ( or , ''Ammókhōstos'', "Hidden in Sand") in the '' Stadiasmus Maris Magni''. This name is still used in modern Greek with the pronunciation , while it developed into Latin , French , Italian , and English during the medieval period. Its informal modern Turkish name Mağusa () came from the same source. On 25 December 1975, the formal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limassol
Limassol, also known as Lemesos, is a city on the southern coast of Cyprus and capital of the Limassol district. Limassol is the second-largest urban area in Cyprus after Nicosia, with an urban population of 195,139 and a district population of 262,238. The Limassol municipality is the most populated in Cyprus, with a population of 108,105, followed by Strovolos in Nicosia. Limassol was built between two ancient Greek cities, Amathus and Kourion. Its historical centre is located around the medieval Limassol Castle and the Old Port. Today the city spreads along the Mediterranean coast and has extended much farther than the castle and port, with its suburbs stretching along the coast to Amathus. To the west of the city is Akrotiri, one of the two British Overseas Territories of Akrotiri and Dhekelia on the island. In 2014, Limassol was ranked by TripAdvisor as the 3rd up-and-coming destination in the world, in its Top 10 Traveler's Choice Destinations on the Rise list. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2012–2013 Cypriot Financial Crisis
The 2012–2013 Cypriot financial crisis was an economic crisis in the Republic of Cyprus that involved the exposure of Cypriot banks to overleveraged local property companies, the Greek government-debt crisis, the downgrading of the Government of Cyprus, Cypriot government's bond credit rating to junk status by international Credit rating agency, credit rating agencies, the consequential inability to refund its state expenses from the international markets and the reluctance of the government to restructure the troubled Cypriot financial sector. On 25 March 2013, a €10 billion international bailout by the Eurogroup, European Commission (EC), European Central Bank (ECB), and International Monetary Fund (IMF) was announced, in return for Cyprus agreeing to close the country's second-largest bank, the Cyprus Popular Bank (also known as Laiki Bank), imposing a one-time bank deposit levy on all uninsured deposits there, and seizing possibly around 48% of uninsured deposits in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
People's Republic Of China
China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after India, representing 17.4% of the world population. China spans the equivalent of five time zones and Borders of China, borders fourteen countries by land across an area of nearly , making it the list of countries and dependencies by area, third-largest country by land area. The country is divided into 33 Province-level divisions of China, province-level divisions: 22 provinces of China, provinces, 5 autonomous regions of China, autonomous regions, 4 direct-administered municipalities of China, municipalities, and 2 semi-autonomous special administrative regions. Beijing is the country's capital, while Shanghai is List of cities in China by population, its most populous city by urban area and largest financial center. Considered one of six ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Beijing
Beijing, Chinese postal romanization, previously romanized as Peking, is the capital city of China. With more than 22 million residents, it is the world's List of national capitals by population, most populous national capital city as well as China's List of cities in China by population, second largest city by urban area after Shanghai. It is located in North China, Northern China, and is governed as a Direct-administered municipalities of China, municipality under the direct administration of the Government of the People's Republic of China, State Council with List of administrative divisions of Beijing, 16 urban, suburban, and rural districts.Figures based on 2006 statistics published in 2007 National Statistical Yearbook of China and available online at archive. Retrieved 21 April 2009. Beijing is mostly surrounded by Hebei Province and neighbors Tianjin to the southeast; together, the three divisions form the Jing-Jin-Ji, Jing-Jin-Ji cluster. Beijing is a global city and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Athens Stock Exchange
The Athens Stock Exchange (ASE or ATHEX; , ''Chrimatistírio Athinón'') is the stock exchange of Greece, based in the capital city of Athens. It was founded in 1876. There are currently five markets operating in ATHEX: regulated securities market, regulated derivative (finance), derivatives market, Alternative market, emissions trading, carbon market (for EUAs) and Over-the-counter (finance), OTC market. In the regulated securities market investors can trade in stocks, Bond (finance), bonds, Exchange-traded fund, ETFs and other related Security (finance), securities. On the #Stock exchange, stock exchange 172 stocks are currently traded representing 166 companies. Athens Stock Exchange fully owns the Athens Exchange Clearing House or ATHEXClear, a central counterparty clearing house, and ATHEXCSD, a central securities depository. History The Athens Stock Exchange started trading in 1876. Its day-to-day running has been assigned to ''Hellenic Exchanges – Athens Stock Excha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marfin Investment Group
MIG Holdings S.A. (also known as MIG) is a Greece, Greek investment company. It has acquired several companies and has changed name several times since. In 2004 it took the name ''Marfin Financial Group'' following the triple merger of ''Comm Group'', ''Marfin Classic Α.Ε.Ε.Χ'' and ''Maritime and Financial Investments''. Its shares are currently listed on the Athens Stock Exchange. History Finance history In 2006 the Dubai Group bought a 35% stake in the company. , 17.28% of MIG is owned by Dubai Group. In 2006 Marfin Investment Group acquired HSBC's shares in the now-defunct Laiki Bank, establishing a strong minority share position. Subsequently, the group acquired control of Laiki, which it re-branded as Marfin Popular Bank. On 17 March 2008, MIG announced it sold its 20% of Greece, Greek telecommunications company OTE to Deutsche Telekom. On 6 March 2009, MIG won the deal to acquire Olympic Airlines making it a private airline. The airline was renamed Olympic Air so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chris Pavlou (banker)
Chris Pavlou (born May 30, 1945) is an International banker and a business executive. He was the Vice-Chairman of Cyprus Popular Bank. He was in this position since September 17, 2012. On 28 March 2013 he resigned as Vice Chairman of Laiki Bank (Cyprus Popular Bank) but in April 2015 until December 2016 was appointed by the Central Bank of Cyprus in its capacity as resolution authority as Special Administrator of the legacy entity of Laiki Bank. Banking career Pavlou joined Barclays, London, in 1966 where he gradually moved up to the position of Deputy Chief Manager. He later spent five years in New York City as Senior Vice President running Barclays Foreign Exchange and Money Markets in North America. In February 1987 he joined the Hong Kong and Shanghai Banking Corporation Ltd. (HSBC) as Chief Treasury Manager responsible for all Treasury activities. Within five years the business was transformed into a market leader and profits increases tenfold. In August 1992, he was app ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Cyprus
The Central Bank of Cyprus ( ) is the national central bank for the Republic of Cyprus within the Eurosystem, and was the Cypriot central bank from 1963 to 2007, issuing the Cypriot pound. Since 2014, it has also been Cyprus's national competent authority within European Banking Supervision. History The Central Bank of Cyprus has its origins in the British Colonial Government of Cyprus, which established a Cyprus Currency Board in 1927. This followed on from the unilateral annexation of Cyprus by the British Empire in 1914, the Treaty of Lausanne, establishing the legality in international law of this British takeover, in 1923, and the full establishment of a colonial system of government in Cyprus, with the creation of a Legislative Council, in 1926. The role of the Chairman of the Currency Board was held by the Accountant General, also known as the Auditor General, of the Government of Cyprus. The Board could issue notes and coins, initially denominated in the Cypriot poun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bail-in
A bailout is the provision of financial help to a corporation or country which otherwise would be on the brink of bankruptcy. A bailout differs from the term ''bail-in'' (coined in 2010) under which the bondholders or depositors of global systemically important financial institutions (G-SIFIs) are forced to participate in the recapitalization process but taxpayers are not. Some governments also have the power to participate in the insolvency process; for instance, the U.S. government intervened in the General Motors bailout of 2009–2013. A bailout can, but does not necessarily, avoid an insolvency process. The term ''bailout'' is maritime in origin and describes the act of removing water from a sinking vessel using a bucket. Overview A bailout could be done for profit motives, such as when a new investor resurrects a floundering company by buying its shares at firesale prices, or for social objectives, such as when, hypothetically speaking, a wealthy philanthropist reinvents ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
