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1. Eurobank set to dominate Cyprus' insurance scene with Hellenic stake

As Eurobank eagerly anticipates the green light from regulatory bodies such as the European Central Bank, the Central Bank of Cyprus, and the Companies Registrar for its acquisition of 55% ownership......

2. McKinsey leaders convene at Green Agenda Cyprus Summit

Georgios D. Tsopelas embarked on his McKinsey journey in London back in 1994, blazing a trail that led to the establishment of the Athens office in 2000. ...

3. Alternative investments and portfolio diversification

In contrast to traditional investments in stocks and bonds, portfolios incorporating alternative investments have historically offered higher returns, a trend that has become more prevalent in recent years. ...

4. Iran-Israel tensions: Economists warn of global market turbulence

As tensions simmer between Israel and Iran following recent Iranian attacks, economists are closely monitoring the potential implications for global markets....

5. AstroBank's record-breaking year: €30.4M in profits for 2023

AstroBank reported Profit After Tax of €30.4 million for 2023, representing a return on equity (RoE) of 13.9%, compared with €12.2 million and RoE of 6.2% for 2022, achieving an increase on profit of 150%, mainly due to increased interest income....

6. Turkey's Central Bank reports 2023 loss of 818.2B lira

Turkey’s central bank posted a 2023 loss of 818.2 billion lira ($25.25 billion), showed its balance sheet published in the Official Gazette on Sunday, on the back of steep loss stemming from the “KKM” foreign exchange-protected deposit scheme....

7. CBC Governor faces toughest banking challenges yet

A new dawn breaks with the appointment of Mr. Christodoulos Patsalides as the Central Bank of Cyprus's new governor, heralding both promise and challenge....

8. President Christodoulides hails financial progress with new CBC Governor

The appointment ceremony for the new governor of the Central Bank of Cyprus, Mr. Christodoulos Patsalides, occurred this morning at the Presidential Palace, with the President of the Republic, Mr. Nikos Christodoulides, in attendance....

9. April Newsletter of K. Treppides & Co Ltd: Cyprus Securities and Exchange Commission

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. ...

10. Rhodes island initiates special visa for Turkish tourists

Officials on the Greek island of Rhodes opened a new vacation visa terminal for Turkish visitors Monday as part of a diplomatic effort to ease long-standing tensions between the two countries. ...

11. Business loans drop, home loans steady

The Central Bank of Cyprus reported on Wednesday that the net demand for corporate loans continued to decrease in the last quarter of 2023, marking a consistent downward trend since the first quarter of 2022, although at a slower pace than anticipated earlier in the year....

12. Cyprus' economic resilience earns high credit rating confirmation

International rating agency Morningstar DBRS has confirmed Cyprus’ BBB (high) long-term credit rating with a stable trend, noting that favourable economic prospects balance downside risks. ...

13. Who will lead Cyprus' Central Bank?

An intense behind-the-scenes battle is unfolding regarding the future of Cyprus' central banker as the term of the current governor, Constantinos Herodotos, draws to a close in less than 20 days....

14. Unemployment rate drops while inflation inches up

The latest data from the Cyprus Statistical Service reveals a positive shift in the country's economic landscape, with the unemployment rate falling to 5.9% in the fourth quarter of 2023, compared to 6.9% in the same period the previous year....

15. 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....

16. Cypriots saving less as loan numbers fluctuate

In January 2024, the total deposits in Cyprus reached €51.9 billion, experiencing a net decrease of €366.0 million compared to the previous month....

17. Parliament passes law to remove property restrictions in Occupied Areas

In a unanimous decision, the Plenary Session of the Greek Parliament passed a law abolishing the right of encumbrance of ''memorandum'' on properties held by banks and credit acquisition companies, located in the occupied territories. ...

18. Bank of Spain governor to engage in economic talks with Cyprus officials

19. Nicosia's boutique hotel scene flourishes amid tourism surge

Seeking accommodation in a hotel in Nicosia for February, the search yields 22 options. Narrowing the search by distance from the city center results in fewer choices, yet still satisfactory. Twelve boutique units, primarily small boutique hotels, emerge from the search on booking.com....

20. Lagarde warns of potential economic threats to Europe under possible Trump return

In a recent exclusive interview with CNN's Richard Quest, European Central Bank President Christine Lagarde cautioned Europe to brace itself for potential economic challenges......

21. 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....

22. Macan sets new standards: the first all-electric SUV from Porsche

23. Eurobank expands scholarship program to Cyprus

Eurobank Group is bringing its long-standing ''Forward for Education'' initiative to Cyprus, unveiling a new chapter in the program's 21-year history....

24. EU implements new VAT transparency rules targeting e-commerce fraud

The EU’s new transparency rules against Value-Added Tax (VAT) fraud have come into effect starting on January 1st, the European Commission has announced....

25. 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....

26. President launches state-sponsored arts opportunities for youth

President Nikos Christodoulides announced the initiation of the much-anticipated youth culture card, marking a significant step towards supporting the arts and engaging young minds in the cultural richness of Cyprus. ...

27. Themis Themistocleous signals potential 2024 interest rate cut

In their ''Year Ahead 2024'' forecast, analysts at Swiss financial giant UBS anticipate a slowdown in the strength of the US economy throughout 2023. ...

28. Non-performing loans take a €95M dive

As of the end of September 2023, the total Non-Performing Loans (NPLs) in the banking system of Cyprus further decreased to €2.02 billion compared to €2.08 billion at the end of August. ...

29. Is the digital Euro the ECB's game-changer or a banks' ally?

The digital euro would not be a threat to the role of banks as financial intermediaries, Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) and ECB Governing Council member, has said, stressing that the digital euro will be issued and guaranteed by the ECB and not at the level of the member state....

30. ''The path to fighting inflation is difficult''

In an insightful dialogue about the economic landscape, Joachim Nagel, a prominent figure in the financial realm and a member of the ECB Governing Council, shares his perspectives on inflation, interest rates, and the challenges facing the European economy....