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ECONOMY

Barclays Expects $1.3 Billion Write-Down from U.S. Tax Reform

Barclays Expects $1.3 Billion Write-Down from U.S. Tax Reform

Barclays expects to take a write-down of about 1 billion pounds ($1.34 billion) on its annual post-tax profit as a result of the U.S. tax overhaul, the bank said in a statement today Wednesday 27 December.

The British lender will also see its common equity Tier 1 capital ratio, a key measure of its financial strength, fall by about 20 basis points as a result of U.S. President Donald Trump’s tax reform, it said. The impact of the tax legislation will be accounted for in its results for the year to the end of December 2017, Reuters reports.

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Syllouris – Varemenos Discuss the Cyprus Problem, the Economy and Current Affairs

Acting Cyprus President and House Speaker Demetris Syllouris and 2nd Deputy Speaker of the Hellenic Parliament Georgios Varemenos had a meeting in Nicosia ...
   

Cyprus Records Largest Annual Decrease in Public Debt

Public debt in Cyprus recorded the largest annual decrease in the EU, with -11.3 points, moving from 106% of GDP a year ago to 94.7% in Q1 2018, according to ...
   

Signing of Agreement for the Operation of a ‘Satellite Casino’ at Larnaka International Airport

Hermes Airports Ltd and Integrated Casino Resorts Cyprus Ltd (ICR Cyprus) announce the signing of a commercial agreement with which the airport operating ...
   

Pound Drops below $1.30 as June Retail Sales Fall

The pound has fallen under $1.30 after a surprise fall in retail sales in June, confounding expectations of an increase. The Office for National Statistics ...
   

Ryanair Flight Cancellations Affect 4,000 People

Ryanair pilots have gone on strike, resulting in 4,000 people having their flights between the Republic of Ireland and the UK cancelled. It is the second of ...
   

Burberry Burns Bags, Clothes and Perfume worth Millions

Burberry, the upmarket British fashion label, destroyed unsold clothes, accessories and perfume worth £28.6m last year to protect its brand. It takes ...
   

Trump Slams EU over $5 Billion Fine On Google

U.S. President Donald Trump on Thursday 19 July criticized the European Union over a record $5 billion fine EU antitrust regulators imposed on Google, saying ...
   

Georgiades: Credit Rating Agencies Reports In Line With Government Estimates

Finance Minister Harris Georgiades said Thursday 19 July that the latest reports of credit rating agencies about Cyprus were in line with the ...
 

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