General News
Meropi Kyriacou Honored as TNH Educator of the Year
NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.
NICOSIA – Five years after an economic crisis brought on by bad loans and losses on devalued Greek bonds, the Bank of Cyprus showed a profit of 43 million euros ($50.03 million) in the first quarter as a rebound continued.
The bank said it shot to profitability by reducing the number of bad loans by 454 million euros ($528.19 million), or five percent quarter-on-quarter in the first three months of the year, the Cyprus Mail said.
“We remain confident that we can make further progress in reducing our NPE (Non-Performing Exposure) stock during the coming quarters and we remain on-track to achieve our full year target of two billion euros ($2.33 billion) organic NPE reduction,” the bank’s CEO John Hourican said.
“At the same time, we continue to actively explore certain structured solutions to further accelerate NPE reduction and more quickly return the bank to a more normalized position.”
At the end of the first quarter of 2018, the bank’s NPE ratio was 45 percent while coverage reached 51 per cent, well-above the EU average of 44 per cent and in line with our medium-term target of coverage above 50 per cent, he said.
He said it was the continuation of a three-year run in cutting bad loans without mentioning how many people were devastated when Cypriot President Nicos Anastasiades, reneging on promises, allowed banks to confiscate 47.5 percent of bank accounts over 100,000 euros ($116,340) to pay for mistakes in bad loans, many to Greek businesses, and buying Greek bonds that devalued 74 percent in a futile attempt by the Greek government to cut debt.
He also didn’t say that the bank’s comeback was based partly on taking money that belonged to account holders while Anastasiades, breaking another vow, didn’t hold any bankers accountable for almost topping the country’s economy.
NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.
DEIR AL-BALAH, Gaza (AP) — An international team of doctors visiting a hospital in central Gaza was prepared for the worst.
ATHENS - The tragedy of the Tempi train collision is a much greater issue than an opportunity for parties to table a motion of censure against the government, but the opposition parties used it anyway "to turn society's pain into a tool to strike at the government and me personally," Prime Minister Kyriakos Mitsotakis said on Thursday night in parliament.
ATHENS - PASOK-KINAL leader Nikos Androulakis, speaking at the Hellenic Parliament on Thursday, emphasized that there is "an established belief among the Greek people" that the government "operates as a well-oiled machine of corruption, cover-up, and propaganda.
ATHENS — Greece’s center-right government survived a motion of no-confidence late Thursday that was brought by opposition parties over its handling of the country’s deadliest rail disaster a year ago.
ASTORIA – Greek Minister of the Interior Niki Kerameus offered an informative presentation on postal voting in the upcoming European Union elections for Greek citizens in a well-attended event held at the St.