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WEEKLY WINNERS OF THE FOREX DEMO CHAMPIONSHIP FOR THE WEEK 16-20 JULY. UWC is pleased to announce the following weekly winners of the Forex Demo Championship for the week of 16-20 July: 1st Prize - $1000 Bonus - thaydoi 2nd Prize - $800 Bonus - ragib 3rd Prize - $500 Bonus - mustang Most Active Trader Award - $100 Bonus - jutawaneu Congratulations to all winners! We would like to take this opportunity to thank all participants and to warmly invite all of our clients to take part in our weekly Forex Demo Championship Remember the Earlier You Join the Contest- the Bigger the Chance You Have of Winning!

VIDEO MARKET REVIEWS 26 july 2012: Morning Market Reviews from Kristina Leonova (Analyst of UWCFX) .................................................. ........................................

USA: Cocktail from News and Quarterly Results DAILY MARKET REVIEWS by Arne Treholt Vice-President of Business Development and Investments On Wednesday, July 25, the stock market of the USA showed multidirectional dynamics against an exit of weight of quarterly results, statements of representatives of FRS and European Central Bank, and also the publication of statistical data. Therefore, the representative of FRS with a vote in FOMC - Sara Raskin declared that at the next meeting the question of purchase of bonds on balance of Federal Reserve System will be considered. On this message expectation of investors, concerning introduction of the new program of quantitative mitigation inflamed with new force. As to the Old World, here the member of executive council of the European central bank Evald Novotny reported about existence of arguments in favor of granting to the ESM banking license. This statement was apprehended by investors with a positive since increase of potential of Stabilization Fund could help to fight more effectively against debt crisis, especially in case of the request of Spain for the international financial help. The statistics on housing sector in the USA appeared disappointing. Therefore, sales of new housing in June were reduced from 0,382 million month earlier to 0,350 million while analysts predicted decrease only to 0,370 million. In the middle of the week, some large companies of the USA reported financial results of the past quarter. Thus, Apple and ConocoPhillips firms absolutely disappointed investors, while the reporting of Boeing pleased expectations. Following the results of the trading session the indicator of "blue chip" the index of Dow Jones Industrial Average grew up for 0,465 % and was closed on a level of 12676,05 points, the index of the wide market S&P 500 went down for 0,031 % to level 1337,89 points, and the index of the hi-tech companies Nasdaq "grew thin" for 0,306 % to a level 2854,24 points. Oil has been rising in price yesterday. This morning prices of "black gold" are slightly pointing down and traded on a level of 104.00 for Brent and 88.61 on Light a barrel. Oil has risen despite the unexpected and significant increase in its reserves in the U.S. for the last week, most probably in connection with the statements of the Ewald Nowotny – the representative of ECB on the advisability of granting the European Financial Stability Fund ESM banking license. The euro is strengthening against dollar due to the coming news background and is traded this morning on a level of 1.2146 rebounding from the support level of 1,20 to which the pair came down the day before. But, nevertheless, the growth is sluggish and does not dispose to open "long positions" at current levels. Today we are expecting a block of information on the U.S. labor market, the statistics on U.S. real estate market and data on orders for durable goods. As well as the season of the presentation of quarterly results continue, reports will provide Amazon.Com, Facebook Inc. which expected earnings per share are $ 0,12, France Telecom SA, New York Times Co., Rolls-Royce Holdings PLC, Starbucks Corp., Statoil ASA, Volkswagen AG. Copyright: United World Capital

VIDEO MARKET REVIEWS 25 july 2012: Morning Market Review from Mr. Arne Treholt (Vice-President of Business Development and Investments UWCFX.com)

VIDEO MARKET REVIEWS 24 july 2012: Morning Market Review from Mr. Arne Treholt (Vice-President of Business Development and Investments UWCFX.com)

VIDEO MARKET REVIEWS 23 july 2012: Morning Market Review from Mr. Arne Treholt (Vice-President of Business Development and Investments UWCFX.com)

VIDEO MARKET REVIEWS 20 july 2012: Morning Market Review from Mr. Arne Treholt (Vice-President of Business Development and Investments UWCFX.com)

VIDEO MARKET REVIEWS 19 july 2012: Morning Market Review from Mr. Arne Treholt (Vice-President of Business Development and Investments UWCFX.com)

VIDEO MARKET REVIEWS 18 july 2012: Morning Market Review from Mr. Arne Treholt (Vice-President of Business Development and Investments UWCFX.com)

VIDEO MARKET REVIEWS 17 july 2012: Morning Market Review from Mr. Arne Treholt (Vice-President of Business Development and Investments UWCFX.com)

16 july 2012: Morning Market Review from Mr. Arne Treholt (Vice-President of Business Development and Investments UWCFX.com)

Apple misses earning targets DAILY MARKET REVIEWS by Arne Treholt Vice-President of Business Development and Investments Apple, the world most valuable technological company, fell short of markets expectations when it presented its quarterly results yesterday. Shares dropped more than 5 percent. A sagging European economy and a pause in iPhone sales ahead of a new version saw revenues slip from previous quarter. The rare miss highlights how the Apple brand is becoming less resistant to economic and product cycles that for a long time have plagued rivals. Net income jumped 21 % to USD 8,8 billion, 10 percent below expectations. The steepest fall was registered in Asia. Stock markets continued to fall for a fourth day in Asia. Technology stocks were hardest hit. The fall followed stock losses in Europe and the United States. The Euro wobbled above multi-year lows against major currencies. Euro/USD fell to 1.2068 trading at 1.2074 in the morning. Spain’s ten years bonds hit a record low interest rate on 7,64 % increasing fears that Spain might need a sovereign bail-out. Greece seems unlikely to meet terms conditional to its aid package. This has led to renewed speculation of a breakup of the Euro zone. The Japanese Nikkei fell to a seven-week low before trimming winter session losses to 1 %. Grain prices, the big commodity winner over the last weeks, have dropped on profit taking the last two days. Better weather forecasts in drought stricken areas; have given some relief to the outlook for US crops. Copper hit a month low with a further easing in NYMEX, US crude oil to USD 88,36 a barrel. Brent crude steadied around 103,50. Oil investors are following the development in the Middle East with increased fear. The outlook for commodities is closely linked to Europe. The continued downward pressure on the Euro might, however, lead investors to seek towards traditional safe havens as precious metals, this also taking the weak state of the US economy into consideration. Gold is trading at 1582 in the morning up from yesterday’s low seventies. Silver has over the last weeks several times hit back from a technical resistance level on 26 – 26,50, trading at 27,02 in the morning. Copyright: United World Capital

Euro drops on Spanish fears DAILY MARKET REVIEWS by Arne Treholt Vice-President of Business Development and Investments The Euro fall to multiyear lows versus the Yen and the dollar on Tuesday on fears that Spain shall be forced to ask for a full-scale international bailout; and renewed rumors that Greece might have to leave the Euro. The international rating agency Moody’s changed its outlook on German, Luxembourg and the Netherlands to negative, warning that Europe’s top rated AAA countries may have to increase support for indebted Spain and Italy. Euro/USD is trading at 1.21.26 after dipping even lower Monday and in Tuesday morning trade. Analysts predict that the Euro might drop as low as to 1,10 during the next half year. The Spanish bond auction saw a 7,50 record high interest rate on ten years bond after two of Spain’s regions, Valencia and Catalonia sought help under a 18 billion Euro program aimed at helping regional finances. More regions are said to follow suit. The Euro also hit record lows against the Australian, Canadian, and New Zealand dollars. A European Central Bank statement stressing that Greek bonds are not eligible as collateral, did neither serve to support the euro. The Euro fall to a three and a half years low against British pounds, GDP and saw half year bottom levels against Norwegian and Swedish crowns. The Asian stock market stabilized Tuesday after yesterday’s steep fall. The South Asian Pacific index, MSCIX, fall 0,8 % after a second negative day in New York. McDonald delivered a disappointing result and fall 2,8 %. With one third of the companies reporting quarterly results, 67 % have reported better than expected results. That helped market sentiments last week, but McDonald’s results did not change this week’s negative trend. Oil prices fell sharply on Monday down for a second day on worries that Spain is heading for a bailout and the euro-zone debt crisis is spreading. This prompted investors to sell assets perceived as risky boosting the dollar and US treasuries. Brent fell more than 3 % to 103,50 and NYMEX to 88 USD pr. Barrel. Gold is steady on 1576. The last developments in global markets have increased the likelihood that US Federal Reserve shall undertake monetary measures to stimulate the economy. That shall probably boost precious metals as gold and silver. Statistics presented by one of the biggest global banks, HSBC, indicates better July factory numbers from China, an indication the Chinese government stimulus have started to work. Copyright: United World Capital

EURO/YEN at 12 years low DAILY MARKET REVIEWS by Arne Treholt Vice-President of Business Development and Investments Euro fell to 12 years low against JPY in Asian trading this morning. The Euro zone sovereign debt crisis and the survival of the Euro are back in the headlines after two of Spain’s indebted regions sought financial assistance from the central government in Madrid. This comes in addition to the 100 billion Euro bail out sought for Spain’s struggling banking sector. The last developments have increased fears that the fourth biggest economy in the euro zone will be forced to follow Greece, Portugal and Ireland for sovereign bail outs. The Euro saw its lowest levels in years also against the USD trading at 1.2112. USD/JPY is at 78,191, down 0,41 %. The troika consisting of representative from the International Monetary Fund (IMF), European Central Bank (ECB) and European Commission (EU) is back Greece today to control whether Greece has been able to live up to their austerity obligations. The new Samaras government which is supported by the former ruling party PASOK and a small center left party, has been off to a slow start since the elections a month ago. New privatizations have been announced, but nobody really believes in Greece’s intentions. In Berlin Angela Merkel issued a strong warning, stressing that if Greece was not able to live up to its obligations the country would be forced to leave the Euro. With Spanish regions asking central aid in addition to the banks, the scene is set for a dramatic development. Madrid, Barcelona, and other big cities saw mass demonstrations and clash between demonstrators and police during the weekend. This constitutes a bad omen to the bond auction today. Last week the interest rate on long term Spanish bonds fell to 7,2 %, below the critical 7 % floor. In Asia, stocks fall strongly on worries on the Euro zone and a renewed report of slowing Chinese growth. A central bank analyst predicted 7,4 % growth in the third quarter, lower than the 7,6 % growth in the second quarter which most observers saw as a bottom and a token that the decline in GDP is flattening out. MSCIs broadest index for Asia-Pacific shares fell two percentages. Mining stocks were especially hard hit. Oil prices also fell moderately. Brent crude is at 105,56. NYMEX at 90.51. The speculations on weaker growth in China have put commodities under pressure. The bad news from Asia is expected to have a negative impact when markets open in Europe and USA where futures are pointing down. The earning seasons continue with Apple on Tuesday and Facebook reporting results on Thursday. Copyright: United World Capital

MIRROR TRADER-TRADING BY KNOWLEDGE, SHARING BEST STRATEGIES! We are glad to inform you that United World Capital Ltd. has launched Mirror Trader platform. The Mirror Trader provides UWC traders with the access to unique environment where they can use database of professional knowledge and experience, explore a wide range of trading concepts provided and get live “Buy” and “Sell” signals from the best traders in the world! Mirror Trader is an advanced web based trading platform, no installation is required. Choose Mirror Trader Account and benefit from the following: • Instant sync across UWC MT4 Platform • Live signals - stream of all buy/sell signals generated by the strategies providers • “T-score” - indicator of strategies that perform well under current market conditions • Performance table - visual display of the strategies’ performance • Automatic mirroring of proven strategies in real time • Live market charts of all the trading instruments available • Automatic mirror trading, semi-automatic mirror trading, and manual trading modes inside • “Publisher” - an option to share your trading history! • And many more unique features! Click here to read more! Please note that trading on Demo Mirror Trader will be open from 00:01 (GMT+3) on Monday, 23d July! Get excited? Real trading on Mirror Trader is coming soon!

US-data and earnings fight for upper hand DAILY MARKET REVIEWS by Arne Treholt Vice-President of Business Development and Investments After a string of good corporate quarterly results, US- factory activities contracted for a third straight month in July as new claims for jobless aid surged last week. The tech sector with companies as IBM, eBay and Google presented strong earnings and lifted the S&P to a two and a half month high. Nasdaq gained 0,80 %. Dow Jones ended also slightly up after a mixed session where earnings were fighting dismal economic macro news for attention, raising new hopes for an injection of economic stimulus. Asian shares were down this morning after a strong week posting its biggest weekly gain since January. Oil prices reached a 8-week high as Middle East tensions stoked supply concerns. Brent crude traded close to USD 108 barrel and NYMEX jumped to 92 on fear that the serious internal situation in Syria might spill over and tempt an Israeli/American strike on Iran. The rally in soft commodities as corn and soybean continues. Copper prices, which have traded upwards this week, fall in Asia trade. Gold is steady on 1582. The Euro zone crisis was back in focus as the German Bundestag discussed emergency aid for the Spanish banks. Spain has tried to distinguish between their 100 Billion Euro bail-out package for their struggling banks and the country’s sovereign debt. The debate made abundantly clear that the Spanish state in the end is fully responsible for support given to its bank through different EU emergency mechanism. The demands for austerity measures have created strong reactions in Spain with mass demonstrations in Barcelona and Madrid. The Euro is under continued pressure falling towards the USD to 1.2258. The Euro fall to a record low level against the Australian dollar. USD/JPY is keeping up its high levels trading at 78,605. The Libor scandal continues. A group of banks investigated for interest-rate rigging, are looking to pursue a group settlement with regulators. This rather than to face a Barclays style backlash. Barclay settled with British regulators paying a USD 453 million penalty. Copyright: United World Capital

WEEKLY WINNERS OF THE FOREX DEMO CHAMPIONSHIP FOR THE WEEK 09-13 JULY. UWC is pleased to announce the following weekly winners of the Forex Demo Championship for the week of 09-13 July: 1st Prize - $1000 Bonus - softtouch 2nd Prize - $800 Bonus - forexboss 3rd Prize - $500 Bonus - megatron27 Most Active Trader Award - $100 Bonus - nisha Congratulations to all winners! We would like to take this opportunity to thank all participants and to warmly invite all of our clients to take part in our weekly Forex Demo Championship Remember the Earlier You Join the Contest- the Bigger the Chance You Have of Winning!

Shares rally on US earnings DAILY MARKET REVIEWS by Arne Treholt Vice-President of Business Development and Investments Asian shares rallied on Thursday on better than expected quarterly results from heavy weights IBM and stronger US-housing numbers. The MSCI, Asian Pacific Index, is up 1,6 % and the South Korea’s Kospi bounced nearly 2 %. Japan’s Nikkei is up 1 % in spite of a stronger Yen. USD/JPY is trading at 78,65. Oil prices are high on increased tensions in the Middle East. Brent reached above USD 105 pr. Barrel and NYMEX is for the first time in weeks trading above 90. US stocks are at highest levels since May helped by IBM, Bank of America and Honeywell. Analysts had expected negative figures from the leading chip-maker Intel. Results were weak, but not shocking. That helped sentiments, which also received a boost from housing figures raising hopes that the market is flattening out. There are still strong expectations that the Federal Reserve shall take active measures to stimulate growth. These expectations contributed to yesterday’s rally. During his Congressional testimony, FED head Ben Bernanke kept the door open for measures if needed, but downplayed the risk a double-dip recession. The prospect for possible FED actions weakened the dollar and made investors look for riskier assets like the Australian dollar, which yesterday rose to a 11 week high. Economic growth stimulus shall give a boost to the commodity sector with Australia one of the biggest commodity exporters. A similar upward trend as investors see in the commodity market with oil and copper on the raise is apparent in light commodities. Corn has skyrocketed over the last weeks on the drought in the US and a rapid increasing global population hungry for food. Copyright: United World Capital

Mixed message fails to impress markets DAILY MARKET REVIEWS by Arne Treholt Vice-President of Business Development and Investments Ready, but not yet, was the FED’s Chairman Ben Bernanke’s mixed message in a Congressional hearing yesterday. Bernanke offered a gloomy view of the economic prospects, but gave no concrete clues on whether FED is moving one-step closer to a fresh round of monetary stimulus. Bernanke’s testimony failed to make any impact on global markets. US exchanges mainly concentrated on companies’ earnings where several blue chips came in with better results than expected. Both Coca Cola and the banking group, Goldman Sachs, beat profit forecasts. Tin Asia the Japanese Nikkei was up 0,3 % mainly due to a slight fall in the Yen. USD/JPY is trading above 70 this morning at 79,005.Other Asian exchanges are mixed with no clear direction. Copper prices, a sensitive barometer for growth, are up after four negative days on expectations for growth stimulus. Bernanke’s statement had no impact on the Euro/USD which continues to hover close to 1,23 at 1.2281. The Australian dollar is still strong close to four weeks high. The British pound, GBP is also showing a stronger trend. Oil prices are falling from yesterdays high, but still steady. Brent crude stays above 103 with NYMEX close to 89. Gold and Silver are striving to find a clear direction. Gold trading at 1579 after reaching 1598 and falling back to 1573 yesterday. The financial news is dominated by the British parliamentarian hearings on Barclays Bank and the libor scandal. Adding to the bad image of banks internationally, American regulators have accused one other of the world banking giants, HSBC, for comprehensive money laundering of Mexican drug cartel money and for involvement in shadowy terrorist weapon deals. Copyright: United World Capital

Grimmer outlook for global economy DAILY MARKET REVIEWS by Arne Treholt Vice-President of Business Development and Investments Both Brent crude (103,57) and NYMEX (88,57) rose for the fourth straight session Monday. Oil is up on expectations on stimulus measures for a slowing world economy. Tension on Iran creates increased worries for oil supplies and crude storages in the US is down. Stocks rise and the dollar eased as investors await Fed Chairman Ben Bernanke’s testimony to Congress. EURO/USD trading at 1.2292 as investors covered short positions and hunted for bargains. Australian dollar is up on expectations (1.0300 vs USD) that further Chinese stimulus shall increase demand for coal and other commodities exported to China. US retail sales numbers came weaker than expected yesterday. Together with the International Monetary Fund’s (IMF) new low forecast for global growth in 2013, the weaker retails has increased investors expectations for FED monetary stimulus. IMF is predicting 8,5 % economic growth for China and reduces India’s growth to 6,5 %. IMF has a grim outlook for both the US and Euro zone. In its midyear “health check” on the global economy, IMF said that emerging markets were dragged down by the economic turmoil in Europe. IMF has reduced their global forecast for 2013 from 4,1 to 3,9 %. Its outlook for 2012 is kept at 3,5 %. Copyright: United World Capital

Asian shares extend rally DAILY MARKET REVIEWS by Arne Treholt Vice-President of Business Development and Investments Asian shares extended their rally on Monday on increased hopes for a smooth Chinese landing. Visiting the Southern, Western province of Sichuan, the Chinese Premier Wen Jiabao raised the prospect of more stimuli if needed. The composite Asian stock index, MCSI, continues 0,3 % up after jumping 1 % on Friday. Euro/USD is inching up at 1.2242 after trading at 1.2169 on Friday. Japan is closed for holidays, but the Yen is, nevertheless, gaining ground, trading up 0,2 % against USD at 79,0955. Brent crude stays above 102 Gold is flat at 1589. With worries about China off the boil, market concerns are shifting back to the United States and the Federal Reserve’s next policy move. The attention this week is on quarterly results. A slew of US corporate earnings are expected. The main focus is, however, on FED Chairman, Ben Bernanke’s semi-annual testimony to the US Congress on the economy set for Tuesday and Wednesday. After central banks in Europe, China, South Korea and Brazil all have lowered their interest rates to stimulate growth, markets will seek clues on the Fed’s stance over a stronger monetary policy to support US recovery. Bernanke has earlier stated that the FED will take further easing measures only if necessary. After the international rating agency Moody’s downgraded Italy to near junk status last week, the outcome of the Italian bond auctions on Friday were better than expected. Three years bond yields were at lowest levels since May. 10-year yields rose to near 6 %. Reflecting investor’s jitters over the Euro, currency speculators last week raised their bets in favor of the US dollar, boosting their positions against the Euro to their highest in one month. Copyright: United World Capital

United World Capital Limited (UWCFX) is glad to announce the launch of the live MT5 platform and the MT5 Real trading account. The first 100 clients, who download the new platform , open a MT5 Real account and make a minimum deposit of $300* will get a $100 bonus! ** For deposits larger than $500, please contact your Personal Account Manager to negotiate a larger bonus. Any other reasons why you should trade on the MT5 platform with UWCFX? Of course! Our new MT5 Real account offers you the following: • Access to trading operations of several markets: Forex, Futures, Shares and Metals • 5 digit accounts • Leverage up to 1:500 • Access to DOM - Depth of Market Feature • Advanced analytical system, including 3 chart-types, 21 timeframes and over 70 analytical tools • 5 order types and 4 execution modes available for trading • Multicurrency strategy tester giving unlimited possibilities for testing and optimizing traders’ Expert Advisors • Advanced simple MQL5 use: extended data types, structures, classes and easier transfer of C ++ source codes into MQL5 Plus many more unique features! Click here to read more! Please note that trading on the live MT5 platform will be open from 00:01 (GMT+3) on Monday, 16th July! *Applies only for deposits made from external sources. **Trading Credit Policy applies.

Short relief after China’s 3Q GDP DAILY MARKET REVIEWS by Arne Treholt Vice-President of Business Development and Investments Chinese last GDP figures fall to its lowest level in three years. After a long period of double digit growth, China had in last quarter a GDP growth on 7,6 %. The numbers came in slightly better than analyst expectations, and created a short-lived relief rally on Asian stock exchanges, which turned up after six days of losses. The GDP numbers also gave a boost to the Australian dollar. A weaker real estate market and slowing exports had a negative impact on the GDP numbers. Investments are, however, positive and rose expectations for stronger growth in the last half year of 2012. The government policies change to pro growth and stronger emphasize on the domestic market, has led investors to believe that China shall continue to stimulate growth. The Euro zone received a new blow yesterday when the international rating agency Moodys downgraded Italy to the same level as Kazakhstan and Bulgaria. The downgrading put the EURO under renewed pressure. Euro/USD falls below 1.22. It has recovered and trades at present at 1.2207. EURO hit 1.2166 during Thursday’s trading. The Yen is again up against the dollar, USD/JPY trading at 79,28. American and European stock markets were down yesterday. Oil prices are demonstrating some strength. Brent reached 101 yesterday and is presently trading at 100,77. US crude, NYMEX, is trading at 85,88 a barrel. Gold is 1571 after hitting a low on 1555 yesterday. Silver is up trading at 27,20 after falling to 26,55 yesterday. Copyright: United World Capital

UWCFX introduces new trading credit program UWC BONUS CASH OUT PROGRAM – TURN YOUR TRADING BONUS INTO CASH! We would like to inform you that the UWCFX Trading Credit Amnesty program is now replaced by the BONUS CASH OUT program. What does it mean for you? Good news! Now you can get up to $3 per traded lot! Ever wished you could get real cash instead of a virtual bonus? United World Capital now offers you a unique chance! Trade with us and get up to $3 per each traded lot! Whether you are a forex master or a beginner, we can reward you for each lot that you have traded with us! This is the foremost easiest way to get some extra cash. Why don’t you give it a try? Check out how much $$$ extra you can get by trading with UWC. Please note that the BONUS CASH OUT program is not set up by default. Each client who would like to participate in the program has to send an email to [email protected] to claim the bonus cash out. Please also note that our Trading Credit Policy regulates all bonus conditions. For more information, please contact your Personal Account Manager or our Support Department via Live Chat.

Oil prices increase on stimulus expectations DAILY MARKET REVIEWS by Arne Treholt Vice-President of Business Development and Investments Oil prices jumped 2 % yesterday on hopes for stimulus measures and falling US storages. Brent rose above the 100 dollar mark pr. Barrel, and NYMEX traded at 85,50. Euro/USD is continuing its downward trend at 1.224. Higher unemployment figures from Australia put the Aussie dollar under pressure. The South Korean Central bank has written down interest rate in an effort to encourage growth. While the direction of future Federal Reserve initiatives remains unclear, investors seem to expect that China shall undertake new measures to boost its economy. China is expected to release new GDP numbers on Friday. Preliminary figures indicate that GDP expansion would be the weakest in 3 years. China has reduced interest rate twice during the last month, and new stimulus measures are expected. Minutes from Federal Reserve’s meeting in June suggest that the US economy has to worsen before FED is going to consider a third round of bond buying. Such a step would weaken the dollar and re-energize the appetite for risk and dollar nominated commodities. The European debt crisis and the grim outlook for the world economy have dramatically decreased the demand for most commodities. Oil has been hit hard falling 25 – 30 % from its high in the beginning of the tear. The positive movement in oil prices over the last days help by shrinking US-storages, a Norwegian oil strike and Iranian worries, might indicate a turnaround in other commodities. US quantitative easing would surely contribute to such a rebound. The euro zone crisis starts to take new tolls. The CEO of Bank of Cyprus, the biggest bank in the island, resigned yesterday amidst increasing criticism for his bank’s strong exposure to Greece. It is simultaneously announced that state coffers are running out of funds. There is no money left to pay civil servants salaries for August. Copyright: United World Capital