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181. Russia's ruble drops to lowest level since 2022 conflict

The Russian ruble slid past 100 against the dollar Monday, its lowest level since March 23, 2022 -- weeks after Moscow unleashed full-scale hostilities in Ukraine....

182. Record surge in loan renegotiations amidst rising interest rates

Loan renegotiation in the Cyprus banking system spiked to record levels in the first half of 2023, driven mainly by the repeated interest rate hikes by the European Central Bank (ECB) in its effort to tackle soaring inflation....

183. BOC reports €220 million profit for first half of 2023

Bank of Cyprus Group has reported a robust profit after tax of €220 million for the first half of 2023, a significant leap from the €43 million recorded in the same period of 2022. Notably, €125 million of these profits were achieved in the second quarter of 2023....

184. CBC: Bounced checks decline continue to decline

A total of 36 bounced checks, amounting to €112,717, were issued in July 2023. These checks involve 18 entities, consisting of 11 legal entities and 7 individuals. ...

185. Corporate loans above €1 million surge

The net new loans (excluding restructurings) in Cyprus amounted to €1.73 billion in the first half of 2023, showing a slight annual increase of 1.26%. The continuous interest rate hikes by the European Central Bank significantly slowed down the granting of housing loans....

186. Prices of homes and apartments up 7.7% annually

The rise recorded in the housing market in Cyprus during the first quarter of 2023 was significant, as prices continued to increase, especially in apartments, mainly due to higher demand....

187. The four-year wait: Bristol pub's legendary roasts have diners waiting years for a seat

If anticipation heightens pleasure then diners at one Bristol pub must be ecstatic by this point. With customers waiting up to four years to sample its award-winning meals, the Bank Tavern in central Bristol looks to be one of the hottest tickets not just in town but anywhere....

188. Expert Dr. John Oliver at Digital Agenda 2023

Dr. John Oliver, a leading expert in media management and former president of the European Union Media Management, will be a keynote speaker at the Digital Agenda Cyprus Summit 2023, taking place on October 17th at Nicosia Municipal Theater....

189. ECB dilemma with core inflation at 5.5%

The European Central Bank (ECB) is almost certain to raise interest rates by 25 basis points in its meeting tomorrow, though what happens next is unclear....

190. Cyprus banks witness €52.3B growth

Deposits in the Cyprus banking system rose significantly in June totalling €52.3 billion, while liquidity in the banking system amounted to €27.2 billion....

191. NPL crisis highlights tug of war between borrowers and legislation

The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...

192. Banking on success: Greek and Cypriot banks show remarkable credit improvement

Fitch Ratings released a new report on Monday stating that the credit profiles of Greek and Cypriot banks have significantly improved over the past year due to de-risking and restructuring....

193. Philippos Soseilos: Significant investment opportunities in Cyprus

194. Cyprus Parliament rejects bills on borrowers' rights

The Cyprus Parliament voted against two non-government bills regarding borrowers' rights on Thursday, disregarding warnings from the government and the Central Bank about potential threats to the stability of the financial sector....

195. Loan demand in Cyprus falls, interest rates rise

The Cypriot banking institutions are holding a small basket for demand in new loans....

196. Proposed foreclosure reforms spark debate in Cyprus

Three proposals will be discussed at the last Plenary Session of the House of Representatives before the summer recess, along with three scenarios regarding the outcome of the foreclosure framework....

197. Contentious foreclosure legislation sparks debate in Parliament

The issue of foreclosures remains unresolved and will be the focal point of the upcoming plenary session on Thursday, July 13. ...

198. Cyprus sees decrease in bounced checks

A total of 35 dishonoured cheques, with a total value of €67,609, were issued in June 2023, while 16 persons (10 legal and 6 natural) were recorded in the preliminary list of the Central Information Register (CIR) for dishonoured cheques, maintained by the Central Bank of Cyprus (CBC)....

199. Eurobank's vision: Controlling Hellenic Bank and conquering new markets

According to Bloomberg, Eurobank's deputy chief executive, managing director, and head of international operations, Stavros Ioannou, expressed the bank's desire to eventually gain full control of Hellenic Bank in Cyprus....

200. Parliament approves foreclosure law

A significant mobilization by the Government and the Central Bank of Cyprus took place this week regarding the framework of foreclosures, primarily to withdraw the "problematic" proposal that, according to the state and banks, would have negative consequences for the Cypriot economy....

201. Cyprus inflation at 1.9%

Inflation in Cyprus reached its lowest level in 25 months in June 2023 and stood at 1.9% on an annual basis, mainly due to the decline in food prices....

202. EU Commission proposes digital euro as cash alternative

Digital currencies have grown in popularity. Unlike bitcoin, the digital euro would be a central bank digital currency (CBDC), essentially, electronic cash. ...

203. Parliament to vote on law for borrowers' foreclosure appeal

The news from the "Oikonomiki Kathimerini" about the suspension of first home foreclosures up to €350,000 until the end of October has been confirmed. ...

204. President urges solution as foreclosure laws vote approaches

Cyprus is heading towards suspending first residence property foreclosures up to 350,000 euros until the end of October....

205. European stocks rally on hope of interest rate peak

Eurozone inflation fell more than expected to 5.5 percent in June, its lowest rate since the start of last year, but a slight rebound in core consumer price growth tempered any relief for policymakers....

206. Interest rate increases boost Cypriot banks' 2022 profits to €177 million

Bank of Cyprus and Hellenic Bank generated a combined profit of €164.7 Million in Q1 2023, Driven by interest rate increases....

207.  Land sales surge in Akamas

The irregularities observed within Akamas' protected area, as highlighted in last Sunday's report by "K," appear to be just one aspect of a broader issue emerging in anticipation of the implementation of the local plan in September....

208. €10 banknote most counterfeited bill in Cyprus

In a recent annual report, the Central Bank of Cyprus shed light on the prevalence of counterfeit bills and coins circulating in the country. The report, according to an article on Philenews, highlighted the €10 banknote as the most counterfeited bill, making up 40.8 percent of the total counterfeit pieces....

209. MPs move forward with divestment changes

MPs are displaying a resolute determination to press ahead with crucial changes to the divestment framework before the parliamentary summer recess....

210. Bank of England raises interest rates to 5%

The Bank of England has raised interest rates by a half point to 5% as part of its efforts to combat high inflation and rising mortgage costs. ...