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31. Real Estate investment opportunities by AstroBank

AstroBank is selling a commercial building in Strovolos and other commercial, residential and agricultural properties that are ideal investment opportunities in Nicosia, Limassol, Larnaca and Famagusta....

32. 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%....

33. 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. ...

34. 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....

35. Cyprus' illusion of prosperity as unemployment numbers mask realities

In its analysis, the Central Bank of Cyprus notes that in the first quarter of 2024, unemployment fell to 6%, the lowest level since 2009....

36. 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)....

37. 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....

38. 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. ...

39. Israel launches major military operation in West Bank, 9 dead

Israel initiated a significant military operation early Wednesday targeting multiple areas in the northern occupied West Bank....

40. Real estate investment opportunities by AstroBank

AstroBank is selling an unfinished commercial building in Strovolos and other commercial, residential and agricultural properties that are ideal investment opportunities in Nicosia, Famagusta, and Paphos....

41. ECB cuts Cypriot bond holdings to €6.38 billion

The value of Cypriot sovereign bonds held by the Eurosystem, as part of the Public Sector Purchases Programme (PSPP) and the Pandemic Emergency Purchases Programme (PEPP) declined to €6.38 billion......

42. Russian industrial giants warn of bankruptcy amid sanctions impact

More than 20 major Russian industrial companies, including those in the construction, automotive, and household appliance sectors, have warned they are on the brink of bankruptcy and could halt operations. In a letter to Anton Alikhanov......

43. 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....

44. FT: China set to hit PwC with record penalty amid Evergrande fallout

PwC China has informed its clients that it expects Chinese authorities to impose a six-month business ban starting as early as September, following its audit of the now-collapsed property developer Evergrande....

45. 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....

46. Cyprus banks set for major changes in September

September will bring significant shifts for Cyprus's two largest banks....

47. Gold hits historic $1 million per bar milestone

For the first time, the value of a gold bar has reached $1 million. ...

48. Global uncertainty looms as Biden's final months approach

Five months remain until the next US president is sworn in. Five very fluid and dangerous months. Everyone knows that President Joe Biden is on his way out. His power and influence are waning with each passing day....

49. Christodoulides criticized for inconsistent policy on Turkey’s EU role

On February 2-3, 2024, the Belgian presidency of the Council of the European Union hosted an informal meeting of Foreign Ministers, known as the Gymnich, in Brussels....

50. Paphos man loses €200,000 in online fraud scheme

Police are investigating a new online fraud case involving a large sum of money after a 67-year-old man reported being swindled out of €200,000. The complaint was filed today at the Paphos Police Station, according to Cyprus Police....

51. Fake contests and phishing scams surge, warns Cyprus Consumers Association

The Cyprus Consumers Association (CSC) has issued a warning about a surge in consumer fraud, where cunning individuals employ various tricks to extort money from unsuspecting victims. ...

52. UK unemployment falls to 4.2%

Britain’s unemployment rate fell to 4.2% in the second quarter, down from 4.4% in the previous quarter, according to data released Tuesday by the Office for National Statistics (ONS)....

53. Limassol resident loses €30,000 in cryptocurrency scam

A 54-year-old resident of Limassol reported to the police yesterday that he was scammed out of €30,000 by an online scammer posing as a cryptocurrency investment advisor....

54. 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. ...

55. 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)....

56. Women entrepreneurs hit hard by Turkey's Instagram shutdown

Turkey's decision to block access to Instagram has dealt a significant blow to female entrepreneurs who rely on the platform to market and sell products ranging from homemade cookies to baby bedding....

57. 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. ...

58. Limassol man duped out of €30,000 in cryptocurrency scam

59. 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. ...

60. Government rolls out €400 laptop grants for middle school students

Following the President's announcement of the "At Every Start, Together" initiative aimed at supporting students at the beginning of the new school year and easing family......