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31. ECB considers rate cut despite falling inflation

The European Central Bank is set to keep interest rates at record highs on Thursday and take baby steps towards cutting them in the coming months as inflation continues to fall despite stubbornly high underlying price pressures....

32. KEDIPES preps for major loan sell-off, boosting Cyprus banks

In a strategic move to streamline its assets, KEDIPES is gearing up to offload a second batch of performing loans, hot on the heels of its €58 million deal with the Bank of Cyprus....

33. Handmade 100-Euro bills flood European cities

A group of counterfeiters which had been producing 100-euro bills was busted in a joint police operation involving Europol and police forces in four countries, including Greece....

34. Turkey's February inflation hits 67.07%, raises policy concerns

Turkey's annual inflation rate surged to 67.07% in February, surpassing expectations and sustaining pressure for a stringent monetary policy. Finance Minister Mehmet Simsek acknowledged that inflation would remain high in the coming months due to base effects and the delayed impact of previous rate hikes....

35. Deposit rates down, mortgage rates up

Deposit interest rates dropped in January, whereas lending rates rose except interest rates for consumer lending, according to data published by the Central Bank of Cyprus....

36. Central Bank predicts 2.2% GDP growth in 2023

The Central Bank of Cyprus (CBC) expects GDP growth of 2.2% in 2023, compared to significant growth of 5.1% in 2022, while for the years 2024-26 it expects GDP growth of 2.6%, 3.1% and 3.2%, respectively....

37. EIB turns down funding for Great Sea Interconnector project

The European Investment Bank (EIB) has declined to finance the Great Sea Interconnector project, linking Cyprus, Greece, and Israel. Kyriakos Kakouris, EIB Vice President, confirmed the decision, stating that no new funding request has been submitted by the Republic of Cyprus....

38. Cypriots saving less as loan numbers fluctuate

In January 2024, the total deposits in Cyprus reached €51.9 billion, experiencing a net decrease of €366.0 million compared to the previous month....

39. Banks urged to accelerate loan restructurings

The governor of the Central Bank has shed light on the strategy for restructuring Non-Performing Loans (NPLs) and navigating credit risk management....

40. Parliament passes law to remove property restrictions in Occupied Areas

In a unanimous decision, the Plenary Session of the Greek Parliament passed a law abolishing the right of encumbrance of ''memorandum'' on properties held by banks and credit acquisition companies, located in the occupied territories. ...

41. European Central Bank considers rate cut, Spanish Governor suggests

The European citizens should know that that the European Central Bank’s next move will be a rate cut, Governor of the Bank of Spain and ECB Governing Council member......

42. Bank of Spain governor to engage in economic talks with Cyprus officials

43. Nicosia's boutique hotel scene flourishes amid tourism surge

Seeking accommodation in a hotel in Nicosia for February, the search yields 22 options. Narrowing the search by distance from the city center results in fewer choices, yet still satisfactory. Twelve boutique units, primarily small boutique hotels, emerge from the search on booking.com....

44. Lagarde warns of potential economic threats to Europe under possible Trump return

In a recent exclusive interview with CNN's Richard Quest, European Central Bank President Christine Lagarde cautioned Europe to brace itself for potential economic challenges......

45. Interest rates extended, borrowers face dilemma

Last Thursday, the European Central Bank (ECB) opted to maintain interest rates, extending the uncertainty for borrowers regarding their loans and repayments....

46. Macan sets new standards: the first all-electric SUV from Porsche

47. Bank of Cyprus gears up for investment talks in New York

Bank of Cyprus has packed its bags for New York as it gears up to meet with the investment community at the Athens Stock Exchange's conference in collaboration with JPMorgan on the 25th of this month. ...

48. Eurobank expands scholarship program to Cyprus

Eurobank Group is bringing its long-standing ''Forward for Education'' initiative to Cyprus, unveiling a new chapter in the program's 21-year history....

49. Cyprus witnesses 356 bounced cheques, yet a €1.7M surge

In a recent disclosure, the Cyprus Central Bank unveiled a decrease in the issuance of uncovered checks during 2023, reporting a total of 356 compared to the previous year's 473. ...

50. Can Cyprus withstand yet another crisis?

The recent Houthi attacks on commercial vessels navigating the Red Sea have triggered another disturbance in the intricate web of the global supply chain...

51. Non-performing loans hold steady at €2B amid rising rates

Non-performing loans in the Cyprus banking system remained essentially unchanged at €2 billion in October 2023, marking a marginal reduction of just €2 million, in an environment of rising interest rates....

52. Central Bank chief cautions on early rate cuts amid global tensions

Central Bank Governor and European Central Bank (ECB) member Constantinos Herodotou stated that discussions regarding interest rate reductions are premature, given ongoing geopolitical conflicts and potential disruptions in the supply chain arising from tensions in the Red Sea....

53. Europe faces weak growth amid global uncertainty

In a comprehensive survey released today, leading economists express apprehension about the global economy, anticipating a year of sluggish growth, primarily attributed to geopolitical conflicts, challenging financing conditions, and the impact of artificial intelligence. ...

54. Lagarde: ''Trump 'clearly a threat' to Europe''

According to a report in the Financial Times today, ECB President Christine Lagarde expressed concern over the potential re-election of Donald Trump as US president, stating that it is 'clearly a threat' to Europe based on his policies during his first term....

55. Cyprus real estate booms in Q3 2023

Cyprus experienced a real estate boom in the third quarter of 2023, with housing prices soaring and a surge in demand from both domestic and foreign buyers, according to data released by the Central Bank of Cyprus (CBC) on Wednesday....

56. Global economy faces worst 5-year period in 30 years

The World Bank projects a sluggish global economy from 2020 to 2025, marking the worst five-year period in the last three decades....

57. EU implements new VAT transparency rules targeting e-commerce fraud

The EU’s new transparency rules against Value-Added Tax (VAT) fraud have come into effect starting on January 1st, the European Commission has announced....

58. Cyprus grapples with lingering private debt woes

In Cyprus, the European Commission consistently highlights the significant economic challenge of private debt through regular post-program or post-memorandum reports....

59. As 2023 ends, banks and unions lock horns on pay structures

The banks and bank employees' unions are at odds over labor issues and the signing of new collective agreements. As we approach the end of 2023, no significant progress has been made in renewing collective agreements during the outgoing year....

60. Half of Cyprus loans vulnerable to Euribor and ECB rates

Half of the loans in Cyprus are "vulnerable" to euribor and the European Central Bank's (ECB) key rates. In 2024 and 2025, we may not expect further increases, but rather possible decreases, according to the Central Bank of Cyprus' Financial Stability Report for 2022....