https://knews.kathimerini.com.cy/en/news/christodoulides-backs-eurobank-s-big-move-into-india
President Nikos Christodoulides has shown strong support for Eurobank’s plan to expand into India, seeing it as a significant chance to boost business ties between Cyprus and one of the world's largest economies....
https://knews.kathimerini.com.cy/en/news/cyprus-sees-higher-borrowing-costs-lower-deposit-rates-in-july
Interest rates on consumer loans and mortgages in Cyprus increased in July, according to the Central Bank of Cyprus (CBC). The rate for consumer credit climbed to 6.67% from 6.18% in June, while the rate for home loans rose to 4.59% from 4.52%....
https://knews.kathimerini.com.cy/en/news/banks-in-cyprus-contribute-€1-million-to-install-air-conditioners-in-schools
Cyprus's major banks are stepping up to help install air conditioners in schools, contributing €1 million to the effort. The funds will be distributed equally among the School Boards of the country’s five provinces. ...
https://knews.kathimerini.com.cy/en/business/hellenic-bank-s-profits-surge-amid-higher-lending-rates
Hellenic Bank, Cyprus’ second-largest lender, has had a strong start to 2024, reporting a net profit of €189 million in the first half of the year—a solid 18% increase from last year. This boost in profit is mainly due to a 30% rise in interest income, driven by higher European Central Bank (ECB) interest rates....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-report-€164-7-million-deposit-increase-in-july
Total deposits in Cyprus’ banks recorded a net increase of €164.7 million in July 2024, compared with a net decrease of €44.1 million in June 2024, according to figures released on Wednesday by the Central Bank of Cyprus (CBC)....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-to-engage-with-top-investors-in-london
The investment community is turning its focus to a major conference in London, set for late September, where several Cypriot banks will be represented....
https://knews.kathimerini.com.cy/en/news/eurobank-s-michalis-louis-set-to-become-new-ceo-of-hellenic-bank
Michalis Louis, CEO of Eurobank Cyprus, is expected to be named the new chief executive officer of Hellenic Bank following the bank’s 50th Annual General Meeting on September 18, 2024....
https://knews.kathimerini.com.cy/en/news/cypriot-banks-slash-eurosystem-funding-by-€2-6-billion
Cypriot banks have almost zeroed funding from the Eurosystem via the Targeted Long-Term Refinancing Operations (TLTRO), with the latest data by the Central Bank of Cyprus (CBC) showing repayments amounting to €2.6 billion....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-set-for-major-changes-in-september
September will bring significant shifts for Cyprus's two largest banks....
https://knews.kathimerini.com.cy/en/business/gold-hits-historic-$1-million-per-bar-milestone
For the first time, the value of a gold bar has reached $1 million. ...
https://knews.kathimerini.com.cy/en/news/mental-health-over-job-security-is-gen-z-s-new-workplace-mantra
Gen Z, born between 1997 and 2012, is expected to make up 27% of the global workforce by next year, according to the Guardian. ...
https://knews.kathimerini.com.cy/en/news/sharp-increase-in-bounced-checks-for-july-2024
The Central Bank of Cyprus (CBC) has reported a notable increase in bounced checks for July 2024, according to preliminary data from the Central Information Register (CIR)....
https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-sees-23-profit-growth-raises-financial-targets
The Bank of Cyprus has announced a 23% increase in its profit after tax for the first half of 2024, reaching €270 million, compared to the same period in 2023. ...
https://knews.kathimerini.com.cy/en/business/eurobank-completes-takeover-of-hellenic-bank
Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A., has successfully completed its mandatory takeover bid for Hellenic Bank Public Company Limited. ...
https://knews.kathimerini.com.cy/en/business/joint-sea-venture-for-cleaner-seas-by-the-bank-of-cyprus
Initial assessments showed no observable impact on the biodiversity of the Blue Lagoon area of the Akamas Peninsulaby tourism activities....
https://knews.kathimerini.com.cy/en/news/central-bank-revises-gdp-growth-to-3
The Central Bank of Cyprus (CBC) made a conservative upward revision to the GDP growth rate for 2024, by 0.2 percentage points, to 3%......
https://knews.kathimerini.com.cy/en/business/cypriot-banks-show-resilience-amid-challenges-reports-central-bank-governor
Despite the continuous challenges, the Cypriot banking system continues to register a positive course, which is reflected in the main supervisory indicators, Governor of the Central Bank of Cyprus (CBC), ...
https://knews.kathimerini.com.cy/en/comment/opinion/70-of-cypriots-and-greeks-choose-card-payments-over-cash
We are moving ever closer to abolishing cash for consumers and businesses....
https://knews.kathimerini.com.cy/en/news/cyprus-sees-significant-uptick-in-new-loans
In June 2024, new loans in Cyprus substantially increased, reaching €330.6 million, up from €234.9 million in May. Data from the Central Bank of Cyprus (CBC) show that total new loans, which include both new and renegotiated contracts, climbed to €514.9 million from €391.6 million the previous month....
https://knews.kathimerini.com.cy/en/news/greek-firms-fuel-business-expansion-across-cyprus
The investment climate in Cyprus has significantly improved since the crisis era of 2013, attracting substantial interest from Greek companies....
https://knews.kathimerini.com.cy/en/news/cbc-enforces-11-76-cap-on-loan-interest-rates
The Central Bank of Cyprus, exercising its powers under article 314A of the Cyprus Penal Code, Cap.154, and in accordance with its provisions, determines the reference interest rate to be 11.76%....
https://knews.kathimerini.com.cy/en/news/anastasiades-speaks-out-on-cyprus-solution-corruption-and-political-ties
In one of his most candid interviews to date, former President Nicos Anastasiades discussed the Cyprus problem and the talks held in Crans-Montana with Marina Economides in "K". ...
https://knews.kathimerini.com.cy/en/business/supreme-court-stands-firm-guarantors-must-pay-€30k-loan-debt
In a unanimous decision, the Supreme Court of Cyprus has dismissed the appeal of two individuals contesting a ruling by the Paphos District Court, which held them liable for €30,244.32 plus interest and costs, as guarantors of a business loan granted by Laiki Bank in 2002....
https://knews.kathimerini.com.cy/en/news/financial-education-in-cyprus-schools-after-metamax-scandal
The ongoing investigation into the Metamax investment pyramid scheme is causing growing alarm across Cyprus. Complaints to police departments have surpassed 100, with over €220,000 allegedly defrauded. ...
https://knews.kathimerini.com.cy/en/news/cyprus-airports-unaffected-by-global-software-outage
Airports in Cyprus remain operational and unaffected by the major technical problems caused by software linked to Microsoft that has disrupted services for banks, airlines, media, and other public sectors worldwide. ...
https://knews.kathimerini.com.cy/en/news/cyprus-extends-ev-charging-grants-by-two-months
The deadline for applications for the second phase of the "Electrification with 1000" grant program has been extended by two months, now closing on September 30, 2024, at 12:00 a.m., the Department of Electromechanical Services announced....
https://knews.kathimerini.com.cy/en/news/microsoft-365-and-azure-hit-by-global-it-outage
A widespread IT outage hit banks, media outlets, and airlines on Friday, causing significant disruptions at airports and grounding flights worldwide.
...
https://knews.kathimerini.com.cy/en/news/cyprus-seeks-solutions-for-property-buyers-in-limbo-after-court-ruling
The government is working to help property buyers who are now in a difficult situation after the Court of Appeal ruled the 2015 Real Estate Transfer and Mortgage Law unconstitutional....
https://knews.kathimerini.com.cy/en/business/no-progress-on-cyprus-greece-electricity-interconnection-project
No progress was made on the Cyprus side's position regarding the Crete-Cyprus electricity interconnection project during yesterday's teleconference, initiated by the European Commission and involving stakeholders from Greece and Cyprus....
https://knews.kathimerini.com.cy/en/business/cyprus-banks-receive-upgrades-signal-economic-resilience
In a series of significant upgrades for Cypriot banks, Fitch Ratings has elevated the Bank of Cyprus and Hellenic Bank's credit ratings, underscoring a positive trajectory for the country's financial sector, according to a report by Panayiotis Rougalas in this Sunday's Kathimerini....
