Search

1. Banks see boost from ECB rate cuts

The Association of the Cyprus Banks (ACB) said on Thursday that it sees further progress in the economy, driven by the reduction of interest rates......

2. Cyprus gains investor confidence as economic reforms and US ties bolster growth

International investors have shown sustained confidence in Cyprus’ economy and business ecosystem, recognizing the country as a stabilizing force in the region......

3. Cyprus and US: A partnership through decades of change and challenge

As President Nikos Christodoulides arrives at the White House today for an anticipated meeting with President Joe Biden, this event represents a defining moment in Cyprus-U.S. relations....

4. Euronet remains only bidder in delayed JCC sale

The process for the sale of JCC Payment Systems, which began confidentially over the summer, appears to have hit a "snag," with Euronet as the only prospective buyer. ...

5. Countdown to Black Friday: Tips to avoid scams

As Black Friday approaches on Nov. 29, businesses worldwide are gearing up for significant sales events. Recognized as the unofficial start of the holiday shopping season in the U.S. since 1952, Black Friday is observed on the fourth Friday in November, the day after Thanksgiving....

6. New EU rules open Cyprus's troubled loan market to foreign investors

In a move that could reshape Cyprus's financial landscape, Parliament recently passed a European Directive that makes it easier for foreign investors to buy non-performing loans (NPLs) in the country....

7. Cyprus achieves first A-level credit rating in major milestone

Scope Ratings has upgraded Cyprus's credit rating to A- from BBB+, marking the country's first A-level rating from a major credit agency....

8. CBC urges banks to show social responsibility despite sector’s strength

The Central Bank of Cyprus (CBC) released its annual Financial Stability Report for 2023 on Tuesday, indicating that the financial sector is overall strong and capable of handling unexpected challenges. ...

9. Bank of Cyprus shareholders moving at different speeds

CarVal Investors recently sold 3% of its 9.09% stake in Bank of Cyprus, sparking speculation that other shareholders may follow suit and sell their shares....

10. Politico: Giuliani ordered to hand over property to pay defamation suit

Former New York City mayor Rudy Giuliani has been ordered by a federal judge to hand over a significant portion of his property, including his luxury Upper East Side apartment, to two Georgia election workers who won a $148 million defamation case against him....

11. Cypriot banks sending loans abroad: A growing risk?

Yesterday, I had a conversation with someone who truly understands banking—probably more knowledgeable than many who think they do....

12. Interior Ministry proposes solutions for 9,500 stranded property buyers

Interior Minister Constantinos Ioannou presented solutions for resolving issues faced by ''stranded buyers'' to the Parliamentary Committee on Legal Affairs, addressing about half of the nearly 9,500 pending cases....

13. Effort to create new cooperative bank in Cyprus begins with IPO search

The Cypriot company for the promotion of the cooperative movement is at the process of seeking an investment firm that would underwrite an initial public offering for the creation of a “small cooperative bank” in Cyprus that would replace the Cooperative Cyprus Bank which went into liquidation back in 2018, Panikos Hambas told CNA....

14. Behind the numbers: Are Cyprus's non-performing loans just a makeup job?

Are there good makeup artists in Cyprus? Sometimes I wonder, but since I’m out of the fashion scene, I can’t say for sure. However, when I think back to the banking events of the last 15 years, then yes—at least in the banks, they exist....

15. Bank profits in crosshairs as tax talks heat up

The future of a special tax on bank deposits paid to the state may be heading for a shift, though a final decision is not guaranteed. ...

16. ECB to review AKEL’s proposed bank tax amid financial concerns

The European Central Bank (ECB) is set to evaluate a proposed "windfall tax" on banks, commonly associated with the leftist political party AKEL, in Cyprus. ...

17. Cyprus credit rating upgrade: A boon for investors, but what about citizens?

Cyprus has recently received good news from the credit rating agency Capital Intelligence (CI), which upgraded the country’s credit ratings, according to Kathimerinni's Dorita Yiannakou. ...

18. Cyprus' credit rating upgraded due to strong economy and lower debt

Rating Agency Capital Intelligence Ratings (CI) has upgraded Cyprus’ Long-Term Foreign Currency Rating (LT FCR) and Short-Term FCR (ST FCR) to ‘BBB’ and ‘A2’, respectively, from ‘BBB-’ and ‘A3’, maintaining a positive outlook....

19. Tighter lending rules for businesses while household loans remain steady

Cypriot banks made it harder for businesses to get loans in the second quarter of 2024, while lending rules for households stayed the same, according to a new survey by the Central Bank of Cyprus (CBC)....

20. UK deploys 700 troops to Cyprus for potential Lebanon evacuation

The UK government has announced plans to deploy 700 troops to Cyprus in preparation for a potential evacuation of British nationals from Lebanon, amid escalating violence between Israel and Hezbollah. ...

21. Cypriot loan servicers struggle as red loans hit €21.2B

While non-performing loans (NPLs) in Cypriot banks are gradually declining, the situation remains dire for "red loans" held by loan acquisition companies, or "servicers." ...

22. Moody’s sees positive outlook for Hellenic Bank following Eurobank deal

Moody’s upgraded Hellenic Bank’s credit rating to Baa2 from Baa3 on Wednesday, citing the recent acquisition of a 56% stake by Eurobank S.A. The agency also revised the bank's outlook to positive. ...

23. Hellenic Bank boosts first-time buyers with reduced rates

Hellenic Bank has introduced a new scheme offering reduced interest rates for first-time homebuyers....

24. Homebuyers face mounting debts as developers' loans go unpaid

25. Bon Jovi helps save woman from jumping off Nashville bridge (vid)

Rock icon Jon Bon Jovi is being credited with helping save a woman’s life on Wednesday after encountering her on the John Seigenthaler Pedestrian Bridge in downtown Nashville....

26. Bank of Cyprus considers selling JCC to Euronet

Changes are imminent in Cyprus' payment sector as discussions unfold regarding the sale of JCC Payment Systems Ltd to Euronet. JCC Payment Systems......

27. Cypriot bank officials to present AML progress in U.S.

Top officials from four major Cypriot banks are headed to the U.S. on Sept. 16 to present updates on their progress in anti-money laundering (AML) efforts, sanctions enforcement, and foreign account management. ...

28. 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%....

29. 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....

30. Greece tightens bank statement rules for schengen visa

Travelers planning to visit Greece need a Schengen visa, which permits stays of up to 90 days within a 180-day period across the Schengen Area. ...