Nicosia

Shareholders of bailed-out Cyprus’s biggest bank have elected former Deutsche Bank chief Josef Ackermann as the new chairman.

The vote on Thursday came after the Bank of Cyprus passed a European in-depth review of its finances last month.

The bank had earlier bolstered its capital base by raising 1 billion euros.

The leaking of documents on the rescue of Cyprus’s second-biggest bank distorts the truth about the country’s bailout and may damage confidence in the euro, former European Central Bank Governing Council member Panicos Demetriades said.

US Vice President Joe Biden is scheduled to meet with Turkey's President Recep Tayyip Erdogan, Prime Minister Ahmet Davutoglu and Ecumenical Patriarch Bartholomew during a visit to Istanbul this weekend, according to a report by the Athens News Agency on Wednesday.

Talks are expected to focus on the Cyprus issue and developments in the eastern Mediterranean region.

Three weeks before a Greek-Turkish summit in Athens, Turkey’s Foreign Minister Mevlut Cavusoglu accused Greece and Cyprus on Tuesday of trying to “frighten” his country by signing an agreement with Egypt.

Cyprus will never accept any form of partition, Nicosia said on Saturday while voicing its commitment to resume peace talks with Turkey to reunited the divided island.

Turkey's Deputy Prime Minister Bülent Arınç urged Greek Cypriot authorities to "turn back from the wrong way" and return to the negotiation table, as the Turkish Republic of Northern Cyprus celebrated its 31st anniversary on Nov. 15.

The European Union has called on Turkey to respect Cyprus's sovereign rights over its exclusive economic zone (EEZ).

Speaking at the EU-Turkey Joint Parliamentary Committee on Tuesday, Commissioner for European Neighborhood Policy and Enlargement Negotiations Johannes Hahn urged Turkey to show restraint and avoid any more statements or actions that could fuel tension in the area.

Greece called on Turkey Friday to stop provoking Cyprus as it seeks to develop hydrocarbon reserves within its exclusive economic zone (EEZ), while Nicosia repeated that any gains will only be shared with Turkish Cypriots after the conclusion of a reunification settlement.

Property prices in Cyprus declined by up to 9.6 percent on an annual basis in the third quarter, surveyors said on Thursday, with demand sapped by a lack of bank credit and high unemployment.

Cyprus has the right to conduct oil and gas exploratory drilling in its exclusive economic zone (EEZ), Israel's Foreign Minister Avigdor Lieberman has said.

Lieberman, who made the comment after talks between Cypriot and Israeli diplomats met in Nicosia on Wednesday, added that all states in the region should respect international laws and sovereignty.