https://knews.kathimerini.com.cy/en/news/rents-keep-climbing-but-house-prices-aren-t-going-anywhere
If you’re renting in Cyprus, you’re not imagining it; it really is getting more expensive year after year. New figures from Eurostat confirm that rents on the island jumped by 4.6% in 2024 compared to the previous year, continuing a steady upward trend that’s been going on since 2017....
https://knews.kathimerini.com.cy/en/business/mortgage-rates-dip-in-cyprus-but-we-re-still-paying-more-than-the-rest-of-europe
Mortgage interest rates in Cyprus dipped slightly in February, offering some relief to prospective homeowners, but don't pop the champagne just yet. Despite the modest cuts, borrowing in Cyprus remains noticeably more expensive than in the rest of the Eurozone....
https://knews.kathimerini.com.cy/en/news/von-der-leyen-proposes-€150-billion-borrowing-plan-for-rearmament-amid-growing-security-concerns
The European Commission has proposed a bold plan to borrow up to €150 billion to lend to EU governments as part of a major rearmament effort....
https://knews.kathimerini.com.cy/en/news/ecb-cuts-interest-rates-by-25-basis-points-as-inflation-eases
The European Central Bank (ECB) announced on Thursday a fresh interest rate cut, lowering its three key rates by 25 basis points in a bid to support the eurozone economy as inflation gradually eases....
https://knews.kathimerini.com.cy/en/business/cyprus-banks-hit-record-high-profits-despite-ecb-rate-cuts
Despite the European Central Bank (ECB) preparing for its sixth interest rate cut since June 2023, bank profits in Cyprus have soared, marking two consecutive years of record earnings. ...
https://knews.kathimerini.com.cy/en/news/ey-the-biggest-risks-facing-cyprus-and-governments-worldwide
As we move further into 2025, governments around the world, including Cyprus, are facing a range of challenges....
https://knews.kathimerini.com.cy/en/business/big-us-companies-borrowing-in-europe-to-save-money
Big American companies are increasingly turning to Europe to borrow money at lower costs, taking advantage of cheaper interest rates compared to those in the US....
https://knews.kathimerini.com.cy/en/news/struggling-families-at-risk-of-losing-homes-on-government-granted-land
Low-income households that received state-owned land to build their first homes now face the real threat of losing their properties to lenders, according to a damning report by the Audit Office of the Republic of Cyprus....
https://knews.kathimerini.com.cy/en/news/no-relief-in-sight-as-electricity-prices-to-remain-high-until-2027
Electricity prices in Cyprus are expected to remain elevated for the next two years, according to the chairman of the EAC....
https://knews.kathimerini.com.cy/en/business/superhome-center-sold-to-greek-company-for-€94-million
The sale of Superhome Center to Vasilitsi DIY for €94 million has been approved by the Board of Directors of Ermes Department Stores Plc....
https://knews.kathimerini.com.cy/en/business/cyprus-central-bank-sets-interest-rate-limits-to-protect-consumers
The Central Bank of Cyprus (CBC) has announced that the official reference interest rate will be set at 11.50%. This means that banks and other lenders in Cyprus must not charge higher rates than this when offering loans, extending payment terms, or renewing loans. ...
https://knews.kathimerini.com.cy/en/business/cyprus-ended-2024-with-a-banking-boom-as-loans-and-deposits-surged
Cyprus closed out 2024 with a surge in banking activity, as both loans and deposits saw substantial increases, according to the latest data from the Central Bank of Cyprus (CBC). ...
https://knews.kathimerini.com.cy/en/business/new-lending-boosted-by-interest-rates-and-government-plans
A favorable landscape for Cypriot borrowers is taking shape in 2025, laying the groundwork for a strong year in new lending....
https://knews.kathimerini.com.cy/en/business/business-loans-on-the-rise-in-cyprus-but-consumer-borrowing-takes-a-hit
Cyprus experienced a rise in net new loans in October, driven primarily by businesses borrowing more, especially for amounts exceeding €1 million. ...
https://knews.kathimerini.com.cy/en/business/cyprus-receives-major-credit-rating-boost-from-moody-s
Last Friday, Moody’s delivered a major endorsement of Cyprus’ economic progress, upgrading its credit rating by two notches, from Baa2 to A3, with a stable outlook, according to a report by Panayiotis Rougalas. ...
https://knews.kathimerini.com.cy/en/comment/opinion/geoeconomic-tensions-and-cyprus-staying-the-course-amid-challenges-ahead
Geoeconomic fragmentation, the reversal of progress towards global economic and financial integration due to political and military conflict and strategic policy decisions, is rising....
https://knews.kathimerini.com.cy/en/news/boc-finalizes-sale-of-troubled-loans-to-boost-stability-and-growth
In September 2024, the Bank of Cyprus reached a deal with funds linked to Cerberus Global Investments B.V. to sell a portfolio of non-performing loans—primarily business loans backed by collateral. ...
https://knews.kathimerini.com.cy/en/news/germany-faces-uncertainty-as-scholz-fires-finance-minister
Germany’s governing coalition faces a major crisis amid economic challenges and mounting political strife, as Chancellor Olaf Scholz dismissed Finance Minister Christian Lindner and announced he will seek a parliamentary vote of confidence on January 15. If Scholz fails to secure support, Germany could see elections as early as March....
https://knews.kathimerini.com.cy/en/news/germany-€60-billion-budget-shortfall-rocks-europe-s-largest-economy
Germany’s tax revenues are projected to fall nearly €60 billion short of earlier expectations over the next five years, intensifying budget challenges for Chancellor Olaf Scholz’s government and straining the already fragile three-party coalition....
https://knews.kathimerini.com.cy/en/news/ecb-cuts-rates-again-as-eurozone-inflation-and-economy-struggle
The European Central Bank (ECB) has cut interest rates for the third time, marking the first consecutive reduction in 13 years....
https://knews.kathimerini.com.cy/en/news/global-debt-to-exceed-$100-trillion-this-year
Global public debt is nearing the size of the world economy, posing risks to living standards in developed nations, the International Monetary Fund (IMF) warned....
https://knews.kathimerini.com.cy/en/news/ecb-to-review-akel-s-proposed-bank-tax-amid-financial-concerns
The European Central Bank (ECB) is set to evaluate a proposed "windfall tax" on banks, commonly associated with the leftist political party AKEL, in Cyprus. ...
https://knews.kathimerini.com.cy/en/news/cyprus-banks-hike-mortgage-rates-as-new-loans-drop-by-a-third-in-august
Banks in Cyprus raised the interest rates on home loans in August, while reducing the interest rates offered on household deposits, according to data released by the Central Bank of Cyprus on Wednesday....
https://knews.kathimerini.com.cy/en/business/cyprus-credit-rating-upgrade-a-boon-for-investors-but-what-about-citizens
Cyprus has recently received good news from the credit rating agency Capital Intelligence (CI), which upgraded the country’s credit ratings, according to Kathimerinni's Dorita Yiannakou. ...
https://knews.kathimerini.com.cy/en/news/ecb-set-to-cut-key-interest-rate-by-0-25-in-upcoming-meeting
The European Central Bank (ECB) is expected to reduce its key interest rate by 0.25% on Thursday, according to most economists in Greece and the Eurozone....
https://knews.kathimerini.com.cy/en/news/cyprus-sees-higher-borrowing-costs-lower-deposit-rates-in-july
Interest rates on consumer loans and mortgages in Cyprus increased in July, according to the Central Bank of Cyprus (CBC). The rate for consumer credit climbed to 6.67% from 6.18% in June, while the rate for home loans rose to 4.59% from 4.52%....
https://knews.kathimerini.com.cy/en/news/cypriot-banks-slash-eurosystem-funding-by-€2-6-billion
Cypriot banks have almost zeroed funding from the Eurosystem via the Targeted Long-Term Refinancing Operations (TLTRO), with the latest data by the Central Bank of Cyprus (CBC) showing repayments amounting to €2.6 billion....
https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-sees-23-profit-growth-raises-financial-targets
The Bank of Cyprus has announced a 23% increase in its profit after tax for the first half of 2024, reaching €270 million, compared to the same period in 2023. ...
https://knews.kathimerini.com.cy/en/business/bank-of-england-cuts-interest-rates-after-nearly-a-year-of-stability
The Bank of England (BoE) has cut interest rates for the first time since the start of the COVID-19 pandemic, dropping them from a 16-year high. This decision, made by a narrow 5-4 vote, reflects a split among policymakers about whether inflation is under control....
https://knews.kathimerini.com.cy/en/news/apartment-prices-up-13-9-yearly-house-price-growth-slows
In the first quarter of 2024, house price growth showed a slight slowdown, while apartment prices continued to rise....
