Cyprus

With President Dr. Derviş Eroğlu repeatedly denying that talks with the Greek Cypriot side were in a deadlock and even Greek Cypriot opinion makers accusing Greek Cypriot leader Nikos Anastasiades of becoming a “conservative Christofias” interested only in stalling tactics, a paper stressed the peace dividend would radically change communal and individual prospects.

Hillary Clinton's new memoir, “Hard Choices,” which many observers interpret as an unofficial kickoff of her prospective 2016 presidential campaign, dishes out a lot about key world leaders, but Turkish Prime Minister Recep Tayyip Erdoğan has a special place in the 656-page book published June 10.
 

Cyprus appointed lead managers on Tuesday to arrange its first post-bailout bond, underpinning its ambitions for a swift comeback to international markets just a year after teetering on the verge of bankruptcy.

The Finance Ministry said it had mandated Deutsche Bank, Goldman Sachs International, HSBC, UBS Investment Bank and VTB Capital to handle briefings for investors.

By Sarka Halas

Cyprus is preparing a benchmark public debt sale just a year after it was bailed out, which if successful would make it the quickest return to the bond market by a sovereign after a rescue.

The issuer has mandated Deutsche Bank, Goldman Sachs, HSBC, UBS and VTB Capital to arrange a series of fixed income investor meetings in Europe ahead of the deal.

High-level Turkish and American diplomats will hold meetings in Washington Monday and Tuesday to exchange views about bilateral, regional and global issues, the Turkish Foreign Ministry said in a statement on June 7.

The Chambers of Commerce from Turkey, Greece and Turkish and Greek Cyprus announced the creation of the joint commerce forum, namely the “Nicosia Economic Forum,” last Monday in Cyprus. This was their first meeting since 1974.

The leaders of both Turkish and Greek communities in Cyprus recently signed a joint declaration committing themselves to a confederation of two federal states. Thus the Cyprus negotiations restarted. That is better than the alternative. But there is reason to look beyond the usual pessimism of Cyprus watchers. I think this round is truly set to be different. Let me explain why.

Cypriot gross domestic product contracted by 0.7 percent in the first quarter of 2014, a slight improvement on the 0.8 percent drop in the previous three months, the latest official estimate showed on Friday.

The figure is the same as given in a flash estimate by the state statistical service on May 15.

Murat Yetkin murat.yetkin@hdn.com.tr Frank Ricciardone, the U.S. Ambassador to Ankara made important remarks regarding “national security” of both countries in the farewell lunch given to him by Turkey’s Foreign Economic Relations Board (DEİK) in Istanbul on June 5.

Shall we sneak a look at the Cyprus negotiating table?