Infocredit Group LTD Newsletter – June 2014

 World Oil Reserves Referring to the most recent estimates of the Organization of Petroleum Exporting Countries, the proven oil reserves of OPEC reached 1,200.83 billion barrels compared to 277 billion barrels in Non-OPEC countries. This means that over 81% of the world’s oil reserves originate from OPEC countries, with the Middle East region holding up […]

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Infocredit Group Visa Europe Merchant Agent – Cyprus

Infocredit Group is pleased to announce the provision of Mediation Services in Cyprus. With an increasing need for effective and efficient resolution of commercial and other business disputes, Infocredit Group has launched the Mediation Service with two certified mediators to help you achieve quick out of court resolutions. There are many advantages when it comes […]

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Infocredit Group Launches Mediation Services in Cyprus

Infocredit Group is pleased to announce the provision of Mediation Services in Cyprus. With an increasing need for effective and efficient resolution of commercial and other business disputes, Infocredit Group has launched the Mediation Service with two certified mediators to help you achieve quick out of court resolutions. There are many advantages when it comes […]

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Cyprus Parliament Pass Privatization Bill – Investigative Due Diligence

Cyprus Parliament yesterday, passed the privatisation bill in time for the 5th march deadline. The House of Representatives adopted, by majority vote, an amended version of the privatisation bill, which sets out the framework for semi-government organisations (SGOs) to be privatised. The decision comes after the first draft was rejected last Thursday, with 25 votes […]

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BOC loses of €2.04 billion for 2013 – Investigative Due Diligence

The Bank of Cyprus has announced its full-year loss of €2.04 billion for 2013. The bank, which was recapitalised after bailing in depositors last year registered a loss of €93 million in the fourth quarter of 2013, down from €142 million in the previous quarter. “These results demonstrate stability on the asset and provisioning side […]

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Cyprus Privatization Plan Viable – Investigative Due Diligence

The privatisation plan for Cyprus is viable according to Finance Minister, Harris Georgiades. Providing assurances over a disputed bill concerning the privatisation of semi-governmental organistations, Georgiades noted that it does not deprive employees of their employment and pension rights, nor does it remove powers from the House of Representatives. The privatisation plan aims to generate […]

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Cyprus making good progress according to Eurogroup – Investigative Due Diligence

Cyprus’ adjustment programme remains on track according to TROIKA, a statement welcomed by Eurogroup president, Jeroen Dijsselbloem and the Vice-President of the European Commission (EC), Olli Rehn. The third review of the Cyprus economic programme concluded on 11th February with teams from the European Central Bank and the IMF debriefing Eurozone ministers. “We, of course, […]

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The Bank of Cyprus is making progress – Investigative Due Diligence in Cyrus

The announcement came after the Finance Minister, Mr Harris Georgiades met with the President to receive a briefing from the Bank of Cyprus CEO who informed them of the progress of the restructuring plan.  The Finance Minister confirmed the Bank of Cyprus has entered a phase of normalisation adding, “we have reached a point where […]

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A Cyprus bank has been implicated in an FBI investigation – Investigative Due Diligence

The FBI is investigation allegations that millions of dollars ended up in a Cyprus bank after they were diverted from an Oklahoma State University owned company.  A Lawsuit has been filed against the former director of Triton Scientific, which was contracted to run OSU-Multispectral Laboratories and also names his wife. According to the lawsuit funds […]

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