https://knews.kathimerini.com.cy/en/business/esm-warns-cypriot-banks-of-quick-fixes
The European Stability Mechanism warns Cyprus that despite a recent decline in non-performing loans (NPL), the banking sector remains vulnerable due to weak profitability and a still high NPL ratio...
https://knews.kathimerini.com.cy/en/business/cyprus-to-crackdown-on-shell-companies
The Central Bank of Cyprus has just made it harder for brokers to set up front companies on the island, following pressure from US officials who say more needs to be done to combat money laundering...
https://knews.kathimerini.com.cy/en/news/uk-court-convicts-cypriot-drug-lord-s-mother
A UK court has convicted a Cypriot woman, mother of a drug lord in Cyprus, of talking part in an illegal drug trafficking network by making trips around London to collect money on her son’s behalf...
https://knews.kathimerini.com.cy/en/business/funds-cryptocurrencies-the-development-and-the-technology
For the second consecutive year, the Cyprus Chamber of Commerce and Industry, Cyprus-Russian Business Association and K. Treppides & Co Ltd are organizing a half day conference on the 14th of June 2018 at Four Seasons Hotel in Limassol, in an attempt to inform the investors and the Global Market about the Cyprus Fund’s market and the relationship that the Funds in Cyprus can have with the technology...
https://knews.kathimerini.com.cy/en/business/capital-controls-eased-further-as-of-monday
Capital controls were eased further on Monday with depositors now permitted to withdraw a monthly maximum of 5,000 euros from bank accounts, up from 2,300 euros....
https://knews.kathimerini.com.cy/en/news/cypriot-mother-son-duo-involved-in-illegal-drug-entreprise
Two Cypriots, mother and son, are involved in a case of international illegal drug trafficking, with UK authorities saying the woman in London was making trips to collect money on her son’s behalf...
https://knews.kathimerini.com.cy/en/business/uk-financial-sector-wants-global-talent-on-tap-after-brexit
Costs for hiring bankers, accountants and lawyers from outside Britain will soar after Brexit and threaten London’s standing as a global financial centre unless the immigration system is urgently reformed, a report said...
https://knews.kathimerini.com.cy/en/business/russian-dirty-money-flowing-through-london-damages-uk
Russian money hidden in British assets and laundered through City of London financial institutions damages the government’s efforts to take a tough stance against Moscow’s aggressive foreign policy, a committee of lawmakers said...
https://knews.kathimerini.com.cy/en/business/booing-cyprus-breaks-more-tourism-records
An influx of Russian and British tourists has helped Cyprus break more records for the number of arrivals this year...
https://knews.kathimerini.com.cy/en/business/non-performing-loans-spike-by-€1-5-billion
Non-performing exposures (NPEs) in the Cyprus banking system jumped up by €1.5 billion in January, as International Financial Reporting Standard 9 entered in to force...
https://knews.kathimerini.com.cy/en/business/co-op-receives-two-bids-in-good-bank-bad-bank-scenarios
The Cooperative Central Bank (CCB) announced on Monday it has received two bids as part of its privatisation process launched in March, with one bidder going after the ‘good bank’ scenario just as the European Commission approved the acquisition of Altamira Cyprus by a joint platform with CCB and one of the bidders...
https://knews.kathimerini.com.cy/en/comment/opinion/don-t-get-caught-up-in-the-east-med-energy-hype
It is tempting for resource-poor countries to overestimate the promise of newly discovered hydrocarbon resources, particularly in times of need...
https://knews.kathimerini.com.cy/en/news/on-athens-visit-juncker-appears-upbeat-about-greek-recovery
In a speech before Greece’s Parliament on Thursday, European Commission President Jean-Claude Juncker expressed optimism about Greece’s economic recovery and called on its European partners to honor pledges for debt relief....
https://knews.kathimerini.com.cy/en/business/hellenic-bank-in-a-time-crunch-to-bid-on-ccb
The deadline in the privatisation process for the Cyprus Cooperative Bank (CCB) has been postponed until mid-May, setting in motion the executive board at the Hellenic Bank to intensify discussions on making a bid. ...
https://knews.kathimerini.com.cy/en/news/french-frigates-could-be-built-in-greece
Tsipras and Macron discussed the possible use of profits on Greek bonds held by the cental banks of other European countries, such as France, for the construction of frigates...
https://knews.kathimerini.com.cy/en/business/one-in-five-financial-institutions-consider-cryptocurrency-trading
Banks are examining client interest and several hedge funds have tried their hand trading virtual currencies...
https://knews.kathimerini.com.cy/en/business/ecb-mulls-shelving-rules-tackling-eurozone-npls
The European Central Bank is considering shelving planned rules that would have forced banks to set aside more money against their stock of unpaid loans, after suffering a political backlash....
https://knews.kathimerini.com.cy/en/business/cyprus-recovery-is-being-recognised-by-international-agencies
Fitch does not currently anticipate developments with a high likelihood of leading to a downgrade...
https://knews.kathimerini.com.cy/en/business/finmin-revenue-from-npls-management-will-repay-cost-of-support-to-co-op
Government moves include establishing an asset – management company, based on conditions that the competent European institutions will set and depending on the finalisation of investment interest in the Co-op...
https://knews.kathimerini.com.cy/en/news/cyprus-registers-record-number-of-tourists-in-march
Tourist arrivals in March rocketed 36.4%...
https://knews.kathimerini.com.cy/en/business/greek-banks-seen-passing-ecb-s-stress-tests
Fragiadakis also said the bank was looking to approach two Chinese investors for the sale of a majority stake in its insurance unit National Insurance...
https://knews.kathimerini.com.cy/en/business/banks-in-cyprus-greece-and-portugal-may-need-further-reserve-build-up
Fitch also notes that average NPL/total loan ratios at the EU`s largest banks had declined to 4% by end-2017 from 6.5% at end-2014...
https://knews.kathimerini.com.cy/en/news/russia-can-build-turkey-power-station-alone
Russian firm Rosatom has been seeking investors for a 49 percent stake in the Akkuyu nuclear power plant project...
https://knews.kathimerini.com.cy/en/business/privatisation-of-co-op-may-lead-to-the-creation-of-a-bad-bank
A process launched by the nationalised Cooperative Cyprus Bank may lead to the creation of an Asset Management Company also known as a bad bank ...
https://knews.kathimerini.com.cy/en/news/rouvikonas-s-latest-paint-attack-targets-turkish-consulate
Self-proclaimed anarchist group Rouvikonas (Greek for Rubicon) threw paint at the Turkish consulate in Palaio Psychico, northern Athens, on Wednesday, to protest the country's military operation in Afrin, Syria....
https://knews.kathimerini.com.cy/en/business/ukraine-s-privatbank-files-$3-billion-lawsuit-against-pwc-subsidiaries
Kiev has already withdrawn PwC’s right to audit Ukrainian banks as punishment for its alleged failure to flag evidence of wrongdoing at PrivatBank...
https://knews.kathimerini.com.cy/en/business/hourican-is-one-of-the-best-paid-irish-bankers
The Dubliner CEO of the Bank of Cyprus, was paid €2.1 million last year, putting him among the best-paid Irish bankers in the world...
https://knews.kathimerini.com.cy/en/business/bad-loans-still-high-despite-fast-economic-growth
Cyprus' economic growth has been supported by construction, tourism and professional services...
https://knews.kathimerini.com.cy/en/business/hourican-urges-business-to-help-in-a-speedier-resolution-of-npls
He said that one of the biggest issues in Cyprus was the tolerance on non-performers lending...
https://knews.kathimerini.com.cy/en/business/loans-in-banking-system-reach-€51-1-billion
Total deposits in February recorded a net decrease of €29.2 million...
