Cyprus News Agency: News in English, 16-10-25

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From: The Cyprus News Agency at <http://www.cyna.org.cy>

CONTENTS

[01] BOC not expecting to raise additional equity, says Hourican

[02] EP: Development of gas resources in Cyprus should be actively pursued

[01] BOC not expecting to raise additional equity, says Hourican

The Bank of Cyprus (BOC) has sufficient common equity capital to support its strategy and is not expecting to raise any additional equity, said the Group`s Chief Executive Officer John Patrick Hourican, speaking at the Annual General Meeting of Shareholders on Tuesday.

He said, however, that the bank is constantly examining ways to improve the efficiency of the shareholders' capital as well as the funding of the balance sheet. "To that end, and as our bank normalizes, we are carefully exploring the possibility of introducing Tier 2 capital to augment the strength of our balance sheet and supplement our equity capital base.

(CNA)

*The full text of the news item is available in the paid version of the CNA web service.

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.

[02] EP: Development of gas resources in Cyprus should be actively pursued

The development of the domestic conventional gas resources discovered in Cyprus should be actively pursued, a resolution adopted on Tuesday by the European Parliament in its plenary session, in Strasbourg, stresses.

The resolution further notes that new LNG capacity being developed in the Mediterranean could form the basis of an infrastructure hub.

The MEPs call for the prioritisation of gas production in the Mediterranean, Black Sea and Caspian regions, as well as for interconnecting landlocked countries in Central and South-East Europe to these new capacities in order to diversify supply sources in those regions.

(CNA)

*The full text of the news item is available in the paid version of the CNA web service.

*CNA reserves the copyright to the news stories it files, which is granted to subscribers for specific use only.

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