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Cyprus News Agency: News in English, 09-06-02
CONTENTS
[01] FINANCE MINISTER - BANKS
[02] EUROSTAT - CYPRUS - UNEMPLOYMENT
[01] FINANCE MINISTER - BANKS
The Ministry of Finance will hold a written bidding process on
Wednesday for the allotment of the 1.5 billion euros, raised during the
issue of Cyprus` four-year bonds in international markets, Minister of
Finance Charilaos Stavrakis said on Tuesday.
``The 1.5 billion euros are the product of the very successful issue of
the Republic of Cyprus. These (funds) through a transparent written
bidding process will be deposited to the banks and cooperative
establishments offering the most competitive rates,`` Stavrakis said
speaking to the press.
Cyprus concluded last Monday the book building for the issue of 1.0
billion euro government bonds to international investors. The Finance
Ministry increased the threshold to an issue of 1.5 billion euros after
strong demand reaching around 5.4 billion euros. A total of 1.25
billion euros were allocated to international investors while 250
million euros were given to local investors.
Stavrakis also said that the deposit of these funds to Cypriot
commercial banks and cooperative establishments would constitute ``a
significant liquidity injection in the Cypriot economy, leading to
further interest rate cuts.``
[02] EUROSTAT - CYPRUS - UNEMPLOYMENT
Unemployment reached 5.4% of the active population in Cyprus in April
2009, compared to 5.0% in March 2009, according to Eurostat data
released on Tuesday.
Despite the increase in the unemployment rate, Cyprus had the third
best performance in the EU27, the average of which presented a decade
record, rising to 8.6%.
The unemployment rate for men was 5.3% in April compared to 4.8% in
March, and 5.5% for women in April compared to 5.3% in March. Among the
youth, March figures show unemployment standing at 12.6%.
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