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541. Europe agrees to ban 90% of Russian oil

European Union leaders agreed Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support....

542. 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....

543. 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....

544. Bank of Cyprus posts net profit of €21 million in Q1

Bank of Cyprus group announced on Thursday a net profit of €21 million for the first quarter of 2022, compared to net profit of €8 million in the first quarter of 2021....

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

546. Op-ed: ESG, DEI and other acronyms and why we need to know about them IMHO*

Quite a few times I found myself receiving messages and having to pause and google search an acronym to understand its meaning. I’m sure I’m not alone, and it’s surely not just a Gen X symptom....

547. Cyprus will request EC permission to implement mortage-to-rent scheme

Cypriot authorities plan to submit in June an official request to the European Commission for the implementation of a mortgage-to-rent scheme, aiming to address non-performing loans collateralized by primary residences and SME business premises with an estimated contractual value of €3 billion....

548. 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....

549. 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....

550. 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)....

551. Cashing in: No payment problems for Russian tourists in Turkey

Turkey is trying to attract more Russian tourists by expanding the usage of the Russian Mir payment system in Turkey as it seeks to bypass the payment bottleneck created by Western sanctions....

552. Consulco’s London Credit Fund Q1 2022 Results

Consulco achieved a remarkable first quarter of 2022, during which our London Credit Fund achieved a dividend of £ 13.07 per unit of its Class A shares, $ 11.14 per unit for its Class C shares and € 9.00 per unit for its Class E shares. ...

553. Op-ed: Inflation welcomes 'Generation Z'

Inflation is the rate at which prices rise, which means that we need more money to buy the same product or service. Consequently, if your salary stays the same, then your purchasing power will decrease, as you will be able to buy fewer goods and services....

554. EIB ready to offer funding to mitigate effects of Ukrainian war on Cyprus

New investment opportunities in Cyprus, as well as funding to mitigate the effects of the war in Ukraine, were discussed on Monday by President Nicos Anastasiadis, Finance Minister Constantinos Petridis and European Investment Bank (EIB) President Werner Hoyer. ...

555. '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....

556. Property sales hit 14-year high in Cyprus

Property sales in March, as measured by the number of sale contracts deposited at Land Registry offices, hit a 14-year high according to figures released by the Department of Lands and Surveys....

557. Russia teetering on brink of default as US stops bond payments

The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at U.S. banks, in a move meant to ratchet up pressure on Moscow and eat into its holdings of dollars....

558. Bucha atrocities bring about fresh sanctions and deportations

Following the revelations about the atrocities against civilians that took place in Bucha and other areas near Kyiv, the EU is preparing fresh sanctions against Russia to "hit them where it hurts". ...

559. 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....

560. Russia to bar entry for people from growing list of 'unfriendly' nations

Russia said on Monday it was preparing to restrict entry into Russia for nationals of "unfriendly" countries, which include Britain, all European Union states and the United States. ...

561. 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...

562. 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....

563. Phil Collins performed his last ever concert in London on Saturday (video)

The 71-year-old music legend - who can no longer hold a drumstick after surgery on his back - performed with Genesis at the O2 Arena in London on Saturday night....

564. 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....

565. RCB Bank invites depositors to withdraw their money

RCB Bank will invite its depositors to withdraw their money. According to Kathimerini sources, RCB Bank customers are expected to be able to either receive their deposits on hand or transfer them to other Cypriot banks....

566. Putin wants 'unfriendly' countries to pay for Russian gas in roubles

Russia will seek payment in roubles for gas sales from “unfriendly” countries, President Vladimir Putin said on Wednesday, sending European gas prices soaring on concerns the move would exacerbate the region’s energy crunch....

567. 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....

568. Hellenic acquires 553 million euros worth of Cypriot corporate loans from RCB

Hellenic Bank has acquired 553 million euros worth of Cypriot business loans from RCB Bank, increasing its loan portfolio to over 7.2 billion euros....

569. Everything You Need to Know About Crypto Today (at least for the next 8 hours!)

Don’t be intimidated by my headline if you know nothing about Bitcoin or the Bored Ape Yacht Club. You are in the majority....

570. Cyprus is losing its Russians, confronting existential questions about its economy

For decades, Cyprus built an economy that courted Russians — Russian tourists, Russian investors, Russian oligarchs. ...