Cyprus Mail
Business World

EBRD faces rare loss due to Russia, Ukraine crisis

By Marc Jones

The European Bank for Reconstruction and Development will probably report its first loss since the global financial crisis due to turmoil in Russia and Ukraine, the development bank’s Vice President Andras Simor said on Wednesday.

Simor told Reuters that a fall in the value of its Russian equity investments due to the rouble’s slide as well as provisions against other losses in both countries meant an overall loss for 2014 was likely.

Related posts

The Cyprus tech hub, data centres, and the premium on investment

Andrew Rosenbaum

Hellenic Bank, Bank of Cyprus, RCB perform well on ECB stress tests

Andrew Rosenbaum

UK to see creation of major film studio with $1bn investment

Reuters News Service

It’s a great time to buy Cyprus real estate

CM Guest Columnist

Britain believes Iran attacked Israeli-managed tanker off Oman

Reuters News Service

‘Can we have two golds?’ – Qatar’s Barshim, Italy’s Tamberi share high jump victory

Reuters News Service