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31. Cyprus revamps school curriculum to address financial literacy gap

In response to concerns over low financial literacy rates among Cypriots, highlighted in studies including the Central Bank's 2021 report, efforts to address the issue have been reignited. ...

32. €26,340 in bounced checks in March

In March 2024, a total of 15 bad cheques, amounting to €26,340, were issued, with 6 individuals (5 legal entities and 1 natural person) being listed in the preliminary registry of the Central Information Register (CIR) for dishonoured cheques. ...

33. 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. ...

34. Countdown begins for next Cyprus Central Bank Governor

As the clock ticks towards the end of Mr. Konstantinos Herodotou's tenure on April 11, all eyes are on the impending announcement of his successor by President Nikos Christodoulides. ...

35. Cyprus Central Bank holds 1% buffer rate to safeguard banks

The Central Bank of Cyprus (CBC) has maintained the countercyclical buffer (CCyB) rate to be observed by commercial banks at 1%, with effect as of June 2, 2024....

36. Banks' February deposits rise by €65.4 million

Total deposits in February recorded a significant net increase by €65.4 million following a decrease of €366.0 million in the previous month......

37. 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....

38. 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. ...

39. 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....

40. February's financial flaws expose 16 bad checks, €19,388 lost

In February 2024, a total of 16 bad cheques, amounting to €19,388, were issued, with 9 individuals (7 legal entities and 2 individuals) being listed in the preliminary registry of the Central Information Register (CIR) for dishonoured cheques....

41. What are they afraid of?

Transparency is not merely a good thing; it is essential. However, with the exception of one, credit buyout companies seem unwilling to disclose their financial results, keeping them shrouded in secrecy....

42. The Green Agenda Cyprus Summit on May 20th

Digital Agenda Cyprus Summit and the KATHIMERINI newspaper are proud to present the organization of the "Green Agenda Cyprus Summit" on May 20....

43. Cyprus: A familiar economic space for Greece

In an interview conducted by Kathimerini reporter Panayiotis Rougalas, Greece's Central Bank Governor, Mr. Yiannis Stournaras, sheds light on various aspects of the country's monetary policy and economic landscape....

44. 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....

45. 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....

46. 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....

47. Handmade 100-Euro bills flood European cities

A group of counterfeiters which had been producing 100-euro bills was busted in a joint police operation involving Europol and police forces in four countries, including Greece....

48. Turkey's February inflation hits 67.07%, raises policy concerns

Turkey's annual inflation rate surged to 67.07% in February, surpassing expectations and sustaining pressure for a stringent monetary policy. Finance Minister Mehmet Simsek acknowledged that inflation would remain high in the coming months due to base effects and the delayed impact of previous rate hikes....

49. Deposit rates down, mortgage rates up

Deposit interest rates dropped in January, whereas lending rates rose except interest rates for consumer lending, according to data published by the Central Bank of Cyprus....

50. Central Bank predicts 2.2% GDP growth in 2023

The Central Bank of Cyprus (CBC) expects GDP growth of 2.2% in 2023, compared to significant growth of 5.1% in 2022, while for the years 2024-26 it expects GDP growth of 2.6%, 3.1% and 3.2%, respectively....

51. EIB turns down funding for Great Sea Interconnector project

The European Investment Bank (EIB) has declined to finance the Great Sea Interconnector project, linking Cyprus, Greece, and Israel. Kyriakos Kakouris, EIB Vice President, confirmed the decision, stating that no new funding request has been submitted by the Republic of Cyprus....

52. 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....

53. Banks urged to accelerate loan restructurings

The governor of the Central Bank has shed light on the strategy for restructuring Non-Performing Loans (NPLs) and navigating credit risk management....

54. 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. ...

55. European Central Bank considers rate cut, Spanish Governor suggests

The European citizens should know that that the European Central Bank’s next move will be a rate cut, Governor of the Bank of Spain and ECB Governing Council member......

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

57. 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....

58. 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......

59. 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....

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