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991. EuroAsia interconnector loan denied by European Investment Bank

The European Investment Bank will not approve a loan for financing the electricity interconnection project between Cyprus, Greece, and Israel through the EuroAsia Interconnector, as confirmed by a representative from the EIB in an interview with "K" magazine....

992. Court dismisses depositors' claims in controversial Laiki bank case

On August 10, 2023, the Nicosia District Court rendered a judgment dismissing a claim pertaining to the impairment of plaintiffs' deposits in the former Laiki Bank back in 2013. The plaintiffs had brought the case to challenge the constitutionality of the resolution measures implemented by the State in accordance with the "Resolution of Credit and Other Institutions Law of 2013."...

993. 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....

994. Electrifying Cyprus: Only 2.5K EVs drive the change

A total of 26,462 vehicles have been registered with the Department of Road Transport between January and July 2023, according to the most recent data released by the Department of Statistics. Out of the overall new registrations, 701 were electric vehicles, with 502 of them being private saloon cars....

995. 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....

996. Building and agricultural land for sale by AstroBank

997. Italy surprises banks with 40% windfall tax

Italy's rightwing coalition sent shockwaves through the financial markets as it announced an unforeseen 40% tax on bank profits derived from higher interest rates. ...

998. 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. ...

999. The EuroAsia saga continues

In a statement to ''K'' news, the European Commission expressed its appreciation for the recent signing of the cable purchase agreement for the EuroAsia Interconnector....

1000. Tourism sets record revenue with fewer arrivals

The latest data on tourism revenues for the month of May has brought encouraging news for the tourism sector, signaling positive effects on the Cypriot economy....

1001. Strongest work-from-home rights for Australians

Before COVID-19 sent one-third of the global workforce home, the Melbourne property surveyor that employs drone operator Nicholas Coomber called its 180-strong staff into the office every day at 9 a.m. to hand out assignments....

1002. Money theft attempt at Paphos ATM

Authorities are investigating an incident of violation and money theft from an ATM in Paphos....

1003. 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....

1004. Eurobank Cyprus reports soaring profits amid rising interest rates

Eurobank Cyprus posted soaring profitability after tax for the first half of 2023 with net profits approaching the profitability of full year 2022, due to rising interest rates and the high remuneration of its liquidity held at the ECB....

1005. 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....

1006. Drone strikes hit Moscow's financial district

Economic sanctions have been the biggest headache for Russia's business elite since the start of the war in Ukraine, but two drone strikes in the heart of Moscow's financial district are forcing companies to think about their employees' safety....

1007. 20-year-old arrested for fake money

Yesterday, the police made a third arrest in connection with an investigation into the illegal possession and circulation of counterfeit currency and obtaining goods through false representations....

1008. CEO of Hellenic Bank placed on leave

The Hellenic Bank's CEO, Oliver Gatzke, has been placed on mandatory leave with full pay after informing the bank of his decision to terminate his employment contract, effective from July 22, 2024, when the contract was due to expire....

1009. 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....

1010. 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....

1011. 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....

1012. 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....

1013. Company loses €93,187 in scam

Yesterday, the police arrested a 60-year-old person as part of their investigation into an online fraud case that occurred in Limassol in 2019....

1014. Building land for sale by AstroBank

AstroBank has listed building land for sale in the districts of Paphos, Nicosia and Larnaca....

1015. Uber driver saves over $1,000 monthly with Tesla

Wesley Johnson, 64, uses the income he earns as a San Francisco Uber driver to offer some financial support to his four children and seven grandchildren. ...

1016. A long journey always begins with a small step

The many crises the EU has been facing recently should not let us forget the ongoing pain caused by the open wound of Cyprus’ division....

1017. Primetel assures unchanged services amidst administration

Primetel continues to own the rights to Omonia Nicosia and AEK Athens, as before, Primetel manager Marios Kallias clarified while speaking to K. As he said, nothing changes, not only for TV rights but for all issues and all services that the company provides....

1018. Farewell to an icon: Legendary singer Tony Bennett passes away at 96

Renowned performer Tony Bennett, known for his unique interpretations of the "Great American Songbook," passed away on Friday at the age of 96....

1019. Calum Chase at the Digital Agenda Cyprus Summit

Calum Chase is a best-selling writer and sought-after speaker on artificial intelligence. He focuses on the medium- and long-term impact of AI on all of us as individuals, societies and economies....

1020. 24-year old awarded $18.8M in lawsuit over talc-based baby powder

A 24-year-old man in California was awarded $18.8 million on Tuesday in his lawsuit against Johnson & Johnson, in which he blamed talc in the company's baby powder for giving him cancer....