https://knews.kathimerini.com.cy/en/business/cyprus-banks-strict-adherence-to-sanctions-worries-legitimate-entities
Banks have become cautious regarding sanctions imposed by the USA, EU, and UK, and they are not willing to take any risk in serving individuals or entities in Cyprus who are subject to sanctions....
https://knews.kathimerini.com.cy/en/news/over-1-2-billion-in-russian-assets-frozen-in-cyprus
Some 1.2 billion euros ($1.3 billion) in Russian-owned assets managed by Cyprus-registered companies were frozen in compliance with sanctions imposed on Russia following its invasion of Ukraine, Cyprus’ Finance Ministry said Tuesday...
https://knews.kathimerini.com.cy/en/business/boc-chief-urges-sanctioned-entities-to-seek-exemptions-themselves
The CEO of the Bank of Cyprus, Panicos Nicolaou, expressed the view that individuals and entities subject to sanctions should seek exemption from international authorities in order for banks to allow payments from frozen accounts to business entities....
https://knews.kathimerini.com.cy/en/business/boc-first-quarter-of-2023-yields-€95-million-in-profit
Bank of Cyprus has released its financial report for Q1 2023, showcasing robust performance and positive indicators across various key metrics....
https://knews.kathimerini.com.cy/en/news/nicosia-scrambles-to-ease-burden-on-sanctions
The Registrar of Companies will accept requests from service providers to replace sanctioned persons with other persons, according to reliable sources...
https://knews.kathimerini.com.cy/en/business/rights-violations-raise-concerns-amid-sanctions
The Pancyprian Bar Association has expressed growing concerns over the violation of fundamental rights of both individuals and legal entities affected by the recent restrictive measures and sanctions imposed on April 12, 2023....
https://knews.kathimerini.com.cy/en/news/why-do-young-people-in-cyprus-struggle-to-secure-a-home-loan
Young people are facing difficulties in securing mortgage loans due to a number of factors, according to economist Tasos Yasemidis....
https://knews.kathimerini.com.cy/en/news/non-compliance-with-us-sanctions-bad-says-cbc-governor
No impact to financial stability has been recorded so far by the US and UK sanctions against Cypriot persons and entities for assisting Russian sanctioned nationals apart from Cyprus’ credibility, Governor of the Central Bank of Cyprus Constantinos Herodotou said on Wednesday, noting that non-compliance would pose 'very negative consequences to the economy'...
https://knews.kathimerini.com.cy/en/business/boc-appoints-bank-of-america-as-joint-corporate-broker-resumes-dividend-payments
The Bank of Cyprus has announced the appointment of Bank of America Europe DAC (BofA Securities) as a joint Corporate Broker, along with NUMIS Securities Limited (NUMIS) and Keefe, Bruyette & Woods (KBW, acting through Stifel Nicolaus Europe Limited), with immediate effect....
https://knews.kathimerini.com.cy/en/business/new-sanctions-list-expected-by-the-end-of-may
The episode with the sanctions imposed by the United States and Britain on natural and legal persons that include Cypriot names is expected to continue....
https://knews.kathimerini.com.cy/en/business/may-newsletter-of-k-treppides-co-ltd-cysec
A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries....
https://knews.kathimerini.com.cy/en/news/central-bank-governor-projects-higher-economic-growth-for-2023
On Tuesday, Constantinos Herodotou, the Governor of the Central Bank of Cyprus, announced that the Cypriot economy is projected to grow in 2023 at a higher rate than the Eurozone average. ...
https://knews.kathimerini.com.cy/en/business/it-s-surprising-how-little-was-frozen
Upon his arrival at Larnaca airport last Wednesday, Justice Commissioner Didier Raeder brought with him two pressing questions. Firstly, how is it that a country like Cyprus, which has been heavily infiltrated by Russian capital for several years, has only managed to freeze a mere 104 million euros worth of assets belonging to oligarchs under EU sanctions?...
https://knews.kathimerini.com.cy/en/news/russia-s-lukoil-completes-sale-of-oil-refinery-in-italy
Russia's second-largest oil producer Lukoil said on Thursday its subsidiary LITASCO had completed the sale of the ISAB oil refinery in Sicily to Cypriot private equity firm G.O.I. Energy following approval by Italian authorities...
https://knews.kathimerini.com.cy/en/news/cypriot-firms-struggle-to-detach-from-sanctioned-providers
The business registrar in the Republic of Cyprus has been flooded with requests from companies scrambling to make changes to their structures, after hundreds of firms on the island saw their assets frozen due to new sanctions targeting agencies viewed by Washington and London as 'Russian enablers'...
https://knews.kathimerini.com.cy/en/business/dr-charis-savvides-joins-grant-thornton-cyprus
Grant Thornton Cyprus is pleased to announce that Dr Charis Savvides joined the Firm as the Funds and Regulatory Compliance Services Leader. This appointment is part of the Firm’s strategic plans to enhance its advisory offering and at the same time, to meet growing client demands....
https://knews.kathimerini.com.cy/en/comment/opinion/here-comes-the-digital-euro
The digital euro is set to be a new form of digital currency from the European Central Bank. It will aim to provide a secure, fast and efficient method of payment in the European Union and will be based on a distributed ledger technology,...
https://knews.kathimerini.com.cy/en/business/astrobank-reward-plan-for-good-borrowers
Astrobank is currently developing a plan to reward its consistent borrowers by providing relief for those who have mortgage loans worth up to €350,000....
https://knews.kathimerini.com.cy/en/business/employers-and-trade-unions-clash-over-cola-index-proposal
Today, Wednesday, May 3rd, employers will have a meeting regarding the Cost of Living Adjustment (CoLA) index, and on Thursday, May 4th, the trade unions will have theirs....
https://knews.kathimerini.com.cy/en/news/banks-announce-measures-on-interest-rates
Since July 2022, lending rates in Cyprus have risen by 3.5%, putting borrowers in a difficult position with dangerously increasing loan repayments....
https://knews.kathimerini.com.cy/en/news/cyprus-deposits-reach-€51-9b-loans-at-€25-1b-in-march-2023
Total deposits reached €51.9 billion in March 2023, while total loans stood at €25.1 billion, according to data published by the Central Bank of Cyprus on Tuesday, in the April 2023 edition of Monetary and Financial Statistics....
https://knews.kathimerini.com.cy/en/news/russian-wave-heads-north-as-sanctions-pick-up-in-cyprus
Russian businesses in the Republic of Cyprus are rumored to be moving to the northern part of the island to avoid sanctions, amid reports that more Cypriot nationals in the south are expected to be added to a new list of 'Russian enablers'...
https://knews.kathimerini.com.cy/en/news/non-performing-loans-in-cyprus-rise-to-€2-32-billion-in-january-2023
Non-performing loans (NPLs) rose by €12.8 million in January 2023 compared with December 2022, amounting to €2.32 billion or 9.5% of total loans....
https://knews.kathimerini.com.cy/en/business/april-newsletter-of-k-treppides-co-ltd-eba
A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries....
https://knews.kathimerini.com.cy/en/business/deutsche-bank-to-slash-800-jobs-as-part-of-new-cost-cutting-initiative
Deutsche Bank to cut 800 jobs in a new cost-saving drive after reporting a bigger-than-expected rise in profit for the first quarter, a volatile period globally for finance companies....
https://knews.kathimerini.com.cy/en/news/central-bank-governor-sanctions-impact-on-economy-not-significant-so-far
The Governor of the Central Bank of Cyprus, Constantinos Herodotou, was received on Friday morning (21/04) by the President of the Republic, Nicos Christodoulides. ...
https://knews.kathimerini.com.cy/en/comment/opinion/the-real-estate-industry-s-crucial-turning-point
The European Parliament recently approved a new bill that aims to tackle climate change by reducing carbon emissions. This new legislation has significant implications for the property markets in Cyprus and Greece, where there is a large stock of buildings over 30 years old and requiring energy upgrades....
https://knews.kathimerini.com.cy/en/business/the-impact-of-sanctions-go-beyond-individuals-and-companies
George Christofides, Vice President of the Bar Association, addressed the sanctions imposed by the UK and US on legal and natural persons in Cyprus during an interview on the ''DIASPORA NEWS'' program. ...
https://knews.kathimerini.com.cy/en/news/us-congress-members-sold-bank-shares-amidst-banking-crisis-fears
On March 10, as fears were swirling over the health of the nation’s banks, an investment account belonging to the children of Rep. Jared Moskowitz, D-Fla., sold shares of Seacoast Banking Corp. worth $65,000 to $150,000....
https://knews.kathimerini.com.cy/en/business/finance-minister-considers-lowering-vat-rates-for-basic-necessities
The Minister of Finance of Cyprus, Makis Keravnos, has announced that the Ministry is considering measures for banks and credit-acquiring companies to absorb high-interest rate increases, as well as reducing value-added tax (VAT) for basic necessity products to tackle high prices....
