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1441. 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....

1442. 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....

1443. 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....

1444. 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. ...

1445. 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....

1446. FANEROMENI22 - Band Macumba

1447. The Digital Agenda Cyprus Summit returns on October 18, 2022

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

1448. 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...

1449. Dutch to make working from home a legal right

The Netherlands is on the cusp of making working from home a legal right in a radical move that experts say could be followed across Europe....

1450. Boris Johnson has stepped down

After an acute political meltdown in the U.K., Prime Minister Boris Johnson has resigned as leader of the Conservative Party, setting in motion a race for a new prime minister....

1451. A total of €362.9 million euros in new loans recorded in May

A total of €362.9 million euros in new loans were recorded in May, according to data released by the Central Bank of Cyprus on Tuesday. The increase in new loans is mainly due to both an increase in loans for over €1 million and loans for the purchase of homes....

1452. Kea opens spectacular shipwreck dive sites

Jacques-Yves Cousteau would probably have been surprised to learn that the wreck of the World War I Britannic (the sister ship of the legendary Titanic) he discovered in 1975 off southwestern Kea would be listed as an underwater historical site almost 50 years later, becoming one of a handful of such marine parks in the world. ...

1453. Al Jazeera reporter likely killed by unintentional Israeli gunfire

Al Jazeera journalist Shireen Abu Akleh was likely killed by unintentional gunfire from Israeli positions, but independent investigators could not reach a definitive conclusion about the origin of the bullet that struck her, the U.S. State Department said on Monday....

1454. Bank of Cyprus offering voluntary retirement plans for up to 600 employees

The Bank of Cyprus is offering a Voluntary Retirement Plan to 500 - 600 employees of its employees in the hopes that it can reduce its number of employees in order to maintain profitability. ...

1455. Herodotou: 'Interest rates should be increased gradually'

The Governor of the Central Bank of Cyprus, Constantinos Herodotou, said he was in favor of the ECB gradually increasing key interest rates while keeping its options open, stressing that the European Central Bank should consider the impact of each increase and act accordingly....

1456. Credit Suisse guilty of money laundering

Credit Suisse has been found guilty and fined for involvement in money laundering related to a Bulgarian drugs ring....

1457. Russia defaults on foreign debt for the first time since 1918

Russia has defaulted on its foreign debt for the first time in more than a century as the country can't pay creditors due to sanctions over the war in Ukraine, according to media reports. ...

1458. EU leaders tackle inflation, energy shocks from Russia’s war

A day after endorsing Ukraine’s candidacy to join the European Union, the bloc’s leaders turned their attention Friday to the severe economic turbulence looming over the coming months as the full impact of Russia’s war sinks in and the threat of recession rises....

1459. What is Turkey up to?

This summer, for the first time in many years, the omens concerning Greek-Turkish relations are particularly gloomy. There are many objective reasons why Turkey causing a heated incident is not the most likely scenario;...

1460. Bank of Cyprus Drives Sustainable Digital Innovation in Financial Services with Kyndryl

Kyndryl, the world's largest IT infrastructure services provider and Bank of Cyprus, the leading banking and financial services group in Cyprus, announced an agreement to expand their collaboration with a new five-year managed IT services program that advances the Bank’s ESG commitments through 2030, by supporting the Bank’s levels of service, giving access and visibility to its products to all stakeholders....

1461. RCB finalizes sale of its loan portfolio to Hellenic

RCB Bank Ltd announced that the sale of Tranche B of its performing loan portfolio to Hellenic Bank Public Company Ltd has been successfully completed....

1462. Κyriacos Koushos takes over as Labour Minister

Κyriacos Koushos will take over as Minister of Labour and Social Insurance, following the death of Zeta Emilianidou who died on June 6 in hospital after suffering a brain aneurysm. ...

1463. The end of an era as Revlon files for bankruptcy

The US cosmetics group Revlon has filed for bankruptcy protection after battling supply chain problems and failing to compete with celebrity-backed and social media-savvy upstarts....

1464. Central banks across Europe jack up interest rates to fight inflation

Central banks across Europe raised interest rates on Thursday, some by amounts that shocked markets, and hinted at even higher borrowing costs to come to tame soaring inflation that is eroding savings and squeezing corporate profits....

1465. US Fed raises interest rates by .75%, largest hike in 30 years

The US central bank has announced its biggest interest rate rise in nearly 30 years as it ramps up its fight to rein in soaring consumer prices....

1466. The dilemmas of war and pandemic

Cyprus is a small country with a large export sector of services, which makes it vulnerable to its external environment. An external shock is felt faster and more intensely. ...

1467. The 15 branches of Bank of Cyprus that are closing

The restructuring plan will go ahead by July 4 - There will be 60 left while it will also reduce ATMs...

1468. EY announces 4 new Partners in Cyprus and welcomes new Head of Consulting

EY Cyprus Country Managing Partner, Ronald Attard, has welcomed the announcement of 4 new partners to the Cyprus practice....

1469. Why are we all working so hard?

The idea that technology can liberate us from the drudgery of work is a powerful one. It has also been a powerful disappointment, at least so far....

1470. An increasing number of bounced checks were recorded by the CBC

The number and amount of bounced cheques recorded in the Central Bank of Cyprus' (CBC) preliminary Central Information Register (CIR), showed an upward trend in the first five months of 2022, according to data released Tuesday....