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12° Nicosia,
29 March, 2024
 

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Displaying results 1-30 of 94 matches for query Borrowing.

1. Cyprus grapples with €80 million surge in state budget deficit for 2023

https://knews.kathimerini.com.cy/en/news/cyprus-grapples-with-€80-million-surge-in-state-budget-deficit-for-2023

The state budget deficit for 2023 increased by €80 million compared to the deficit recorded in 2022, according to the Fiscal Report of the Republic of Cyprus for 2023, submitted to the House of Representatives....

2. ECB considers rate cut despite falling inflation

https://knews.kathimerini.com.cy/en/news/ecb-considers-rate-cut-despite-falling-inflation

The European Central Bank is set to keep interest rates at record highs on Thursday and take baby steps towards cutting them in the coming months as inflation continues to fall despite stubbornly high underlying price pressures....

3. KEDIPES preps for major loan sell-off, boosting Cyprus banks

https://knews.kathimerini.com.cy/en/news/kedipes-preps-for-major-loan-sell-off-boosting-cyprus-banks

In a strategic move to streamline its assets, KEDIPES is gearing up to offload a second batch of performing loans, hot on the heels of its €58 million deal with the Bank of Cyprus....

4. Inflation and new markets propel spending close to €3 billion in 2023

https://knews.kathimerini.com.cy/en/news/inflation-and-new-markets-propel-spending-close-to-€3-billion-in-2023

Just before the end of last summer, economic analysts' projections for 2023 tourism revenue were nearing a record close to €3 billion. ...

5. Apple u-turns on EVs, shifts gears to focus on AI

https://knews.kathimerini.com.cy/en/business/apple-u-turns-on-evs-shifts-gears-to-focus-on-ai

Apple has reportedly halted its decade-long secretive project to develop electric vehicles (EVs), redirecting efforts towards its artificial intelligence (AI) division....

6. Interest rates extended, borrowers face dilemma

https://knews.kathimerini.com.cy/en/news/interest-rates-extended-borrowers-face-dilemma

Last Thursday, the European Central Bank (ECB) opted to maintain interest rates, extending the uncertainty for borrowers regarding their loans and repayments....

7. Houthi strikes send prices soaring in global trade

https://knews.kathimerini.com.cy/en/news/houthi-strikes-send-prices-soaring-in-global-trade

In recent weeks, the developments in the Red Sea, with the Houthi attacks on commercial ships and their impact on global trade, have dominated the discussions of suppliers with their partners....

8. Cyprus housing crisis deepens amid interest rate scandal

https://knews.kathimerini.com.cy/en/comment/opinion/cyprus-housing-crisis-deepens-amid-interest-rate-scandal

With current interest rates, the prospect of repaying a mortgage spans nearly fifty years for an average family, turning homeownership into an elusive dream....

9. Half of Cyprus loans vulnerable to Euribor and ECB rates

https://knews.kathimerini.com.cy/en/news/half-of-cyprus-loans-vulnerable-to-euribor-and-ecb-rates

Half of the loans in Cyprus are "vulnerable" to euribor and the European Central Bank's (ECB) key rates. In 2024 and 2025, we may not expect further increases, but rather possible decreases, according to the Central Bank of Cyprus' Financial Stability Report for 2022....

10. Migration and pandemic in focus at Brussels Summit

https://knews.kathimerini.com.cy/en/news/1-migration-and-pandemic-in-focus-at-brussels-summit

Victor Papadopoulos, Director of the Presidency Press Office, described the ongoing discussions at the Brussels Summit as particularly challenging....

11. Cyprus sees drop in savings to 6.5%, Eurostat highlights

https://knews.kathimerini.com.cy/en/news/cyprus-sees-drop-in-savings-to-6-5-eurostat-highlights

Saving rates were significantly lower than in 2021 (13.47 in Cyprus, 16.4% in the EU), and closer to the values before COVID-19 pandemic (5.8% in Cyprus and 12.3% in the EU in 2019)....

12. Central banks across Europe hold firm amidst rate cut speculations

https://knews.kathimerini.com.cy/en/news/central-banks-across-europe-hold-firm-amidst-rate-cut-speculations

Europe's top central bankers have affirmed that despite market expectations for a reduction due to weakening growth, interest rates will persist at elevated levels. ...

13. Financial tsunami looms as Limassol court decision sends shockwaves through Cyprus

https://knews.kathimerini.com.cy/en/news/financial-tsunami-looms-as-limassol-court-decision-sends-shockwaves-through-cyprus

In a potentially precedent-setting decision, the Limassol District Court has upheld its initial ruling in favor of a Russian depositor of the People's Bank, potentially exposing the state to financial implications of up to 2-3 billion euros....

14. Will foreclosures plague 2023?

https://knews.kathimerini.com.cy/en/news/will-foreclosures-plague-2023

There is a race against time, with only a few weeks left to address the issue of foreclosures and enhance the framework....

15. Key economic issues dominate the headlines

https://knews.kathimerini.com.cy/en/news/key-economic-issues-dominate-the-headlines

Despite various actions taken and a decrease in inflation, there are worries about the central bank's ability to achieve its goals. Some experts suggest that the target of 2% price growth, ...

16. Real estate market remains unpredictable despite economic chaos

https://knews.kathimerini.com.cy/en/comment/opinion/real-estate-market-remains-unpredictable-despite-economic-chaos

Everything around us exudes a sense of precision. Costs are on the rise, from the basic materials used in production to the final products we consume. ...

17. Inflation fears and green investments

https://knews.kathimerini.com.cy/en/business/inflation-fears-and-green-investments

The European Central Bank (ECB) has revised its inflation forecast upward, now predicting that inflation will reach 5.6% in 2023 and 3.2% in 2024. ...

18. Moody's double upgrade ignites investor interest

https://knews.kathimerini.com.cy/en/business/moody-s-double-upgrade-ignites-investor-interest

Last Friday, Moody's delivered a double upgrade for Cyprus, propelling the nation into the investment-grade category recognized by all four major financial firms. Although these rankings may appear modest, their real-world impact is substantial....

19. EU passes borrower protection law: Your rights when borrowing money

https://knews.kathimerini.com.cy/en/business/eu-passes-borrower-protection-law-your-rights-when-borrowing-money

The European Parliament (EP) has voted on rules to keep people safe when they borrow money for things like credit cards or loans....

20. Is Cyprus banking sector heading for a shake-up?

https://knews.kathimerini.com.cy/en/news/is-cyprus-banking-sector-heading-for-a-shake-up

The Cypriot banking sector is in trouble, and it looks like Eurobank is on the verge of acquiring Hellenic Bank. Meanwhile, Astrobank and CDB Bank's relationship has shifted from a "flirtation" to an "appointment."...

21. China's $10 trillion hidden debt

https://knews.kathimerini.com.cy/en/news/china-s-$10-trillion-hidden-debt

For some time now, markets have been buffeted almost on a daily basis by gloomy economic news filtering out of China....

22. EuroAsia interconnector seeks alternative funding

https://knews.kathimerini.com.cy/en/business/euroasia-interconnector-seeks-alternative-funding

The developer of the EuroAsia Interconnector is seeking alternative funding avenues to construct Cyprus' electricity interconnection with the European Union, following the European Investment Bank's rejection of a loan request. ...

23. ECB dilemma with core inflation at 5.5%

https://knews.kathimerini.com.cy/en/news/ecb-dilemma-with-core-inflation-at-5-5

The European Central Bank (ECB) is almost certain to raise interest rates by 25 basis points in its meeting tomorrow, though what happens next is unclear....

24. NPL crisis highlights tug of war between borrowers and legislation

https://knews.kathimerini.com.cy/en/business/npl-crisis-highlights-tug-of-war-between-borrowers-and-legislation

The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...

25. Bank of England raises interest rates to 5%

https://knews.kathimerini.com.cy/en/news/bank-of-england-raises-interest-rates-to-5

The Bank of England has raised interest rates by a half point to 5% as part of its efforts to combat high inflation and rising mortgage costs. ...

26. ECB raises interest rate to 3.20% in ongoing tightening campaign

https://knews.kathimerini.com.cy/en/news/ecb-raises-interest-rate-to-3-20-in-ongoing-tightening-campaign

The European Central Bank (ECB) has announced its decision to raise the interest rate to 3.20%, marking another step in its ongoing monetary policy tightening campaign. ...

27. FinMin underlines the importance of disciplined policy

https://knews.kathimerini.com.cy/en/news/finmin-underlines-the-importance-of-disciplined-policy

The contact circle with the banks has not been completed, and there will be a new one to adopt measures that will provide relief to borrowers regarding the increased interest rates....

28. Netflix cracks down on password sharing

https://knews.kathimerini.com.cy/en/business/netflix-cracks-down-on-password-sharing

Netflix Inc. on Tuesday expanded its crackdown on password sharing to the United States and more than 100 other countries, alerting users that their accounts cannot be shared for free outside of their households....

29. BOC: First quarter of 2023 yields €95 million in profit

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....

30. Prem Watsa: 'Greek banks are safer'

https://knews.kathimerini.com.cy/en/business/prem-watsa-greek-banks-are-safer

Greece has entered a virtuous cycle of growth, and the next few years will be especially beneficial to the economy and Greeks if political stability is maintained and business-friendly policies are implemented....

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