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1201. Cyprus scrambles to block hostile bank takeover

The government in the Republic of Cyprus is racing against the clock to arm itself with legal tools to prevent a takeover of the country’s biggest bank by an American private equity firm, which has until next month to submit a final offer that some shareholders may find hard to resist...

1202. Deposits and loans decrease in July

In July 2022, total deposits reached €51.2 billion and total loans €28.6 billion, recording a net decrease, compared to June. This is what data on Monetary and Financial Institutions' deposits and loans show,...

1203. Presidential contender flies to Congo to pave way

Cypriot presidential candidate Averof Neophytou has dipped his toes into the refugee relocation debate in Congo, where he met with officials during a lightning daytrip this week, saying it was an effort on his part to carry forward a repatriation agreement between the island and the former Zaire...

1204. Euro at new 20-year low against the US dollar

The euro slipped to a new twenty-year low due to fears of increased inflationary pressures and an impending recession in Europe as a result of the energy crisis....

1205. US warns Turkey for violating sanctions against Russia

The Biden administration has warned Turkish businesses not to do business with sanctioned Russian institutions and individuals, ramping up US pressure on a NATO ally that maintains strong ties to Russia during its invasion of Ukraine, the Wall Street Journal reported....

1206. EU mulls military training for Ukrainian forces

The European Union is considering the possibility of organizing a "training and assistance" mission for the Ukrainian army, which will take place in neighboring countries, the EU High Representative on foreign policy Josep Borrell said on Monday....

1207. Palestinians fly to Cyprus in Israeli airport pilot program

Several dozen Palestinians flew to Cyprus on Monday from an airport in southern Israel as part of a pilot program to allow Palestinians from the occupied West Bank to fly abroad...

1208. Now is a good time to follow the simple rule of 28/36

Rising prices have been a major topic of discussion over the past few weeks. In essence, however, little can be done by individuals to mitigate the effects of rising fuel and commodity prices on a global scale....

1209. The 4th Nicosia Epic Street Fest is fast approaching

Coming this Christmas on Stasikratous Street on Wednesday 21 December from 7 pm to midnight!...

1210. National credit bureaus crucial in assessing consumer creditworthiness

The need to assess a borrower's creditworthiness and capacity through the use of national credit bureaus was highlighted at an annual conference held by the European Association of Credit Bureaus “ACCIS” in Brussels in the past month....

1211. North plays catch-up with illicit cash

Turkish Cypriot authorities have their hands full as they investigate large sums of money being laundered in Cyprus, with cases ranging from probing courier operations south of the divided island’s UN buffer zone to media speculating on the scope of rampant tax evasion in the north...

1212. President signs controversial foreclosure law

A controversial foreclosure bill has been signed into law in the Republic of Cyprus over the objection of the country’s finance minister who accused lawmakers of populism...

1213. RICS Cyprus Property Price Index with KPMG in Cyprus announces results of Q2 2022

KPMG in Cyprus announces that the ''RICS Cyprus Property Price Index with KPMG in Cyprus'' has been issued for Q2 2022....

1214. Turkish inflation surges to nearly 80%

Turkish inflation rose to a fresh 24-year high of 79.6% in July, data showed on Wednesday as the lira’s continued weakness and global energy and commodity costs pushed prices higher, though the price rises came out below forecasts....

1215. Deposit interest rates remained close to zero levels in June

Deposit interest rates remained at close to zero levels in June with lending rates showing small variations, according to data released on Tuesday by the Central Bank of Cyprus (CBC)....

1216. Inside JP Morgan's precious metals division: The salaries and bonuses of the golden boys

The trial of the former head of precious metals at JP Morgan Chase, which has been in full swing since Friday, provides a sneak peek into the world of exchanges and the pay for its employees....

1217. CBC: Noticeable decrease in household and business debt

Business and household debt in Cyprus reached €56.2 billion in the first quarter of 2022, according to data from the Central Bank of Cyprus....

1218. Cyprus tourism rebounds despite lack of Russian tourists

Beside sparkling Mediterranean waters at the Cypriot resort town of Ayia Napa, the bars are bouncing with foam dance parties as tourist numbers rebound following two tough years of the pandemic....

1219. Russia sending money to Turkey for the $20 Billion Akuyo nuclear plant

A Russian state-owned company is transferring money to a subsidiary that’s building a $20 billion nuclear power plant on Turkey’s Mediterranean coast, alleviating concerns the project could be delayed by war sanctions....

1220. Cyprus’ church wars over Ukraine quiet down

Cyprus' Tamasos metropolitan bishop Isaiah, a top contender for the archbishopric throne who fell out of favor with Archbishop Chrysostomos, traveled to Istanbul this week with the primate’s blessing, a possible signal that the island’s ugly church split over Ukraine was drawing to a quiet close ahead of possible elections...

1221. 550 employees leave Bank of Cyprus

The Bank of Cyprus announced the successful completion of a voluntary staff retirement plan. Through the Plan, approximately 550 employees have been approved for severance, ...

1222. Consulco’s London Credit Fund keeps making 4% p.a. for its Euro investors

Consulco’s London Credit Fund has been reaching and exceeding its annualized target return of 4,00% on Euro since its inception. ...

1223. ECB raises interest rates .5%, with further rate hikes on the horizon

The European Central Bank (ECB) increased interest rates by more than expected on Thursday, raising its benchmark deposit rate by 50 basis points to zero percent, impacting the Cyprus banking system and local borrowers....

1224. ECOMMBX earns Great Place to Work® Certification

ECOMMBX is proud to announce that it has earned the coveted Great Place to Work® Certification with flying score, which is likely to be among the top – if not the highest – scores for this year....

1225. Italy's PM resigns spelling trouble for Europe

Italian prime minister Mario Draghi has resigned, ending a national unity government formed to tackle unpopular reforms and spelling trouble for Europe at a time of acute economic challenges....

1226. ECOMMBX receives the prestigious Ιnvest Cyprus International Investment Award

On 1 July 2022, at the 10th Ιnvest Cyprus International Investment Awards ceremony at the Parklane Spa & Resort in Limassol, under the auspices of the President of the Republic, Nicos Anastasiades. ...

1227. Sri Lankan president flees country amid devastating economic crisis

Sri Lankan President Gotabaya Rajapaksa fled the country on Wednesday and hundreds of protesters stormed the prime minister's office demanding his ouster, as a people's uprising over a devastating economic crisis overwhelmed security forces....

1228. FANEROMENI22 - Band Macumba

1229. The Digital Agenda Cyprus Summit returns on October 18, 2022

Digital Agenda Cyprus Summit 2022 is set for October 18, 2022....

1230. Cyprus makes Russophobia list in Moscow report

Cyprus was among countries listed in a Moscow report on attacks and discrimination against Russians living abroad, with allegations on the island ranging from bullying in schools to stalking, threats of violence and financial sanctions...