https://knews.kathimerini.com.cy/en/news/french-court-clears-cyprus-in-$1-4-billion-fbme-bank-case
France’s highest court has brought an end to the $1.4 billion legal battle over the resolution of FBME Bank, ruling that the Central Bank of Cyprus (CBC) acted prudently and did not breach any obligations under a bilateral investment treaty between Cyprus and Lebanon....
https://knews.kathimerini.com.cy/en/news/ecb-cautiously-prepares-for-further-rate-reductions
The intention of the central bankers on the European Central Bank’s (ECB) Governing Council to proceed with another interest rate cut next week, as inflation data proves favorable, is indirectly but clearly reflected in the minutes of their last meeting, released today....
https://knews.kathimerini.com.cy/en/news/digital-agenda-the-bright-side-of-cyprus-and-its-technological-prospects
Renowned international speakers, top Cypriot innovators, and key government officials came together at the Digital Agenda Cyprus Summit 2024 to discuss the future of digital transformation and global trends in innovation, talent management, and creativity....
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/cypriot-economy-shows-resilience-growth-outpaces-eu-average
The Governor of the Central Bank of Cyprus, Christodoulos Patsalides, has called on banks to consider the social dimension of their pricing policies......
https://knews.kathimerini.com.cy/en/news/finance-minister-coordinates-with-eu-trio-on-2025-presidency
Minister of Finance Makis Keravnos met in Luxembourg with his counterparts from Poland and Denmark regarding the preparation of the Cypriot......
https://knews.kathimerini.com.cy/en/news/cyprus-central-bank-raises-2024-gdp-growth-forecast-to-3-5
The Central Bank of Cyprus (CBC) has revised GDP growth rate up by 0.5 percentage points for 2024, to 3.5%, compared to its forecasts last June, stressing that there does not seem to be any significant negative impact on investments from the conflict in the Middle East.
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https://knews.kathimerini.com.cy/en/news/cyprus-luxury-resort-tied-to-russia-s-$230m-magnitsky-scandal
Cypriot police are close to completing an investigation into allegations connecting a luxury resort to one of Russia’s biggest financial scandals, the Magnitsky case, according to police officials....
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/news/oil-prices-surge-4-after-iran-fires-missiles-at-israel
Oil prices surged nearly 4% on Tuesday following Iran's ballistic missile attacks on Israel, launched in retaliation for Israel’s campaign against Tehran’s Hezbollah allies in Lebanon....
https://knews.kathimerini.com.cy/en/news/iran-fires-missiles-at-israel-escalating-tensions-in-the-region
Iran launched a wave of missiles at Israel on Tuesday evening, dramatically increasing tensions in the already unstable Middle East. The attack, which saw around 180 missiles fired, sent millions of Israelis scrambling to bomb shelters and heightened fears of an all-out war between Israel and Iran....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-have-€28-7-billion-in-cash-and-liquidity
The amount of liquidity in Cyprus's banking system rose to €28.7 billion in August 2024, according to the Central Bank of Cyprus (CBC). This increase was fueled by a growth in deposits alongside a decline in loans....
https://knews.kathimerini.com.cy/en/business/tighter-lending-rules-for-businesses-while-household-loans-remain-steady
Cypriot banks made it harder for businesses to get loans in the second quarter of 2024, while lending rules for households stayed the same, according to a new survey by the Central Bank of Cyprus (CBC)....
https://knews.kathimerini.com.cy/en/news/cypriot-loan-servicers-struggle-as-red-loans-hit-€21-2b
While non-performing loans (NPLs) in Cypriot banks are gradually declining, the situation remains dire for "red loans" held by loan acquisition companies, or "servicers." ...
https://knews.kathimerini.com.cy/en/comment/opinion/the-fall-of-the-man-who-held-the-powerful-accountable
In the famous film ''Dead Poet's Society'', Welton is an exclusive private boarding school for the American elite, where tradition reigns supreme. The school is conservative and strict, with its main values encapsulated in the motto: ''Tradition, Honor, Discipline, Excellence.''...
https://knews.kathimerini.com.cy/en/news/michalis-louis-appointed-ceo-of-hellenic-bank
Michalis Louis has been appointed as the new Chief Executive Officer of Hellenic Bank Public Company Limited at the Annual General Meeting of the Shareholders of the Bank, with immediate effect, according to a decision taken by the Board of Directors of the bank......
https://knews.kathimerini.com.cy/en/news/bank-of-cyprus-reduces-loan-rates-to-3-65-amid-ecb-policy-shift
The Bank of Cyprus is lowering the reference interest rate on loans linked to the European Central Bank’s (ECB) base rate, effective Sept. 18, 2024....
https://knews.kathimerini.com.cy/en/news/ecb-cuts-key-interest-rate-to-3-5-amid-slowing-inflation-and-growth-concerns
The European Central Bank (ECB) cut its key interest rate by 25 basis points to 3.5%, responding to slowing inflation in the Eurozone and concerns over weak growth. ...
https://knews.kathimerini.com.cy/en/news/cyprus-banks-praised-for-stronger-sanctions-enforcement-by-us
US sanctions imposed on entities and individuals in Cyprus are not targeting the country, but “oligarchs and arms traders” enabling “the Kremlin war machine” to continue the war in Ukraine......
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/bounced-cheques-in-cyprus-reach-€57k-in-august
A total of 30 bounced cheques worth €57,129 were issued in August 2024, according to data published on Monday by the Central Bank of Cyprus....
https://knews.kathimerini.com.cy/en/news/cypriot-bank-officials-to-present-aml-progress-in-u-s
Top officials from four major Cypriot banks are headed to the U.S. on Sept. 16 to present updates on their progress in anti-money laundering (AML) efforts, sanctions enforcement, and foreign account management. ...
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/business/hellenic-bank-s-profits-surge-amid-higher-lending-rates
Hellenic Bank, Cyprus’ second-largest lender, has had a strong start to 2024, reporting a net profit of €189 million in the first half of the year—a solid 18% increase from last year. This boost in profit is mainly due to a 30% rise in interest income, driven by higher European Central Bank (ECB) interest rates....
https://knews.kathimerini.com.cy/en/comment/opinion/cyprus-illusion-of-prosperity-as-unemployment-numbers-mask-realities
In its analysis, the Central Bank of Cyprus notes that in the first quarter of 2024, unemployment fell to 6%, the lowest level since 2009....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-report-€164-7-million-deposit-increase-in-july
Total deposits in Cyprus’ banks recorded a net increase of €164.7 million in July 2024, compared with a net decrease of €44.1 million in June 2024, according to figures released on Wednesday by the Central Bank of Cyprus (CBC)....
https://knews.kathimerini.com.cy/en/news/ecb-cuts-cypriot-bond-holdings-to-€6-38-billion
The value of Cypriot sovereign bonds held by the Eurosystem, as part of the Public Sector Purchases Programme (PSPP) and the Pandemic Emergency Purchases Programme (PEPP) declined to €6.38 billion......
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/gold-hits-historic-$1-million-per-bar-milestone
For the first time, the value of a gold bar has reached $1 million. ...
https://knews.kathimerini.com.cy/en/news/sharp-increase-in-bounced-checks-for-july-2024
The Central Bank of Cyprus (CBC) has reported a notable increase in bounced checks for July 2024, according to preliminary data from the Central Information Register (CIR)....
