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241. 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...

242. 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...

243. 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....

244. 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....

245. 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....

246. 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. ...

247. 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....

248. 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....

249. 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. ...

250. 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....

251. Cyprus looks to become global crypto hub with new bill

Cyprus is vetting a cryptocurrency “umbrella” bill in a bid to establish the Mediterranean nation as a premier destination for digital asset innovators and companies....

252. CBC: Cryptocurrencies are a potential risk to the economy

Losing 26% of its value in the last month, Bitcoin and other cryptocurrencies are in danger of dragging the "real economy" with their unpredictable fluctuations....

253. Lebanese banks in Cyprus to shut down amid the country's financial crisis

Branches of Lebanese banks operating in Cyprus will shut down following a decision by the country’s Central Bank. A Central Bank of Cyprus (CBC) official has confirmed to CNA the decision taken by the country’s banking regulator....

254. EU official calls on Cyprus to implement recovery plan or lose funding

A European Commission official on Monday urged the Cypriot authorities to proceed with the implementation of Cyprus’ National Recover and Resilience plan, warning that Cyprus risks losing EU funds in case of new delays....

255. Bank of Cyprus to reduce its employees by 500 in 2022

256. Lower interest rates on deposits and consumer loans

A decrease in interest rates on deposits and consumer loans and a marginal increase in the interest rates on mortgages can be seen in the data published on Thursday by the Central Bank of Cyprus for March 2022....

257. Cyprus' RCB Bank and its Kremlin ties

On March 24, Cyprus’s fourth-largest bank announced it would wind down its banking operations in the wake of the “volatile geopolitical situation” caused by Russia’s invasion of Ukraine a month earlier....

258. EU to propose import ban on all Russian oil

Brussels will propose a phased-in ban on imports of all Russian oil as member states prepare to discuss a sixth package of penalties against Moscow for its invasion of Ukraine....

259. Cyprus and EU economies facing a 'twin problem' following the war in Ukraine

The EU and Cyprus economies are facing a “twin problem” of rising commodity and energy prices and heightened uncertainty following the invasion of Russia in Ukraine, according to discussions held by the Nicosia Chamber of Commerce and Industry and the European Investment Bank (EIB)....

260. At least five Russian businessmen have died by apparent suicide in just three months

At least five prominent Russian businessmen have reportedly died by suicide since late January, with three of them allegedly killing members of their families before taking their own lives....

261. 'The Cypriot economy must be diversified'

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities on March 11–28, 2022 to discuss recent economic developments and policy priorities....

262. EIB President visits Cyprus to discuss support for new investments

European Investment Bank President, Werner Hoyer, is in Nicosia meeting with representatives of the Cypriot Government today....

263. Euler Hermes is now Allianz Trade

Todaymarks a new chapter in our story: Euler Hermes, the world leader in trade credit insurance, becomes Allianz Trade – a natural moveas we have been fully part of the Allianz Group since 2018...

264. The act of a balanced work life and its yin yang: ECOMMBX

Life is a delicate yin yang, or merely one more reason to celebrate each day we all share on this planet we call home!...

265. Lagarde: Cyprus will be affected by inflation and rising energy costs

Cyprus will be affected by inflationary pressures and higher energy costs due to its dependence on oil imports for electricity generation, according to European Central Bank President Christine Lagarde....

266. Credit Suisse in the hot seat for telling its clients to shred evidence

Just weeks after Credit Suisse was caught telling clients to shred evidence of its loans to Russian oligarchs, the embattled investment bank has decided to pull out of the country....

267. Nicosia roundtable calls on Cyprus to reexamine sanctions

Leaders from the Russian business community in the Republic of Cyprus are calling on the government to reexamine sanctions in the wake of the war in Ukraine, saying the measures were hurting the island nation...

268. Russians pile into property in Istanbul and Dubai to shelter from sanctions

Wealthy Russians are pouring money into real estate in Turkey and the United Arab Emirates, seeking a financial haven in the wake of Moscow's invasion of Ukraine and Western sanctions, according to many property companies....

269. RCB shifts from banking to asset management

RCB Bank Ltd switches from banking to asset management, consequently phasing out its banking operations as of today....

270. Abramovich superyacht 'Eclipse' docks in Marmaris

A second superyacht linked to Russian billionaire Roman Abramovich docked in a Turkish resort on Tuesday and sources familiar with the discussions said he and other wealthy Russians were looking to invest in Turkey given sanctions elsewhere....