https://knews.kathimerini.com.cy/en/news/cbc-enforces-11-76-cap-on-loan-interest-rates
The Central Bank of Cyprus, exercising its powers under article 314A of the Cyprus Penal Code, Cap.154, and in accordance with its provisions, determines the reference interest rate to be 11.76%....
https://knews.kathimerini.com.cy/en/news/anastasiades-speaks-out-on-cyprus-solution-corruption-and-political-ties
In one of his most candid interviews to date, former President Nicos Anastasiades discussed the Cyprus problem and the talks held in Crans-Montana with Marina Economides in "K". ...
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....
https://knews.kathimerini.com.cy/en/news/ecb-keeps-interest-rates-steady-amid-mixed-inflation-signals
The European Central Bank decided today to keep its key interest rates unchanged, as anticipated. This means the rates for main refinancing operations, marginal financing, and deposit facilities remain steady at 4.25%, 4.50%, and 3.75%, respectively....
https://knews.kathimerini.com.cy/en/business/july-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....
https://knews.kathimerini.com.cy/en/business/cyprus-tourism-faces-€25-million-hit
The president of the Cyprus Hotel Association (PASYXE), Thanos Michaelides, has highlighted the urgent need to extend the tourist season and increase the number of year-round hotel operations. ...
https://knews.kathimerini.com.cy/en/business/surge-in-corporate-loans-despite-interest-rate-hike
The Central Bank of Cyprus has released its latest data revealing notable shifts in financial trends for May 2024. Despite a 0.52% uptick in lending rates for non-financial corporations borrowing amounts over €1 million, new loans to these entities surged by 10% compared to the previous month. ...
https://knews.kathimerini.com.cy/en/news/cbc-to-keep-dividends-low-despite-bank-profits
The increased profitability of Cypriot banks, will not affect the supervisory authorities’ views over the necessity to maintain a prudent policy with respect to banks’ dividend payments, the Central Bank of Cyprus said in its annual report for 2023, published on Wednesday....
https://knews.kathimerini.com.cy/en/news/ecb-concerned-over-cypriot-bank-profit-tax-proposal
In 2023, Cypriot banks reported unprecedented profits, marking a 15-year high, with projections suggesting even greater earnings in 2024....
https://knews.kathimerini.com.cy/en/news/banks-contribute-over-€854m-in-taxes-amid-controversy-over-proposed-levy
In the last seven years (2017-2023), Cypriot banks have collectively paid more than €854 million in income tax, special taxes, and VAT, according to a report by Panayiotis Rouglas in last Sunday's Kathimerini....
https://knews.kathimerini.com.cy/en/news/bbf-announces-the-full-sale-of-four-class-a-business-centers-in-cyprus-in-the-past-12-months
BBF, Limassol’s top luxury residential developer, successfully sold out four Class A office buildings within the last year. Spanning a total area of approximately 20,000 sq. m., the full sale of bbf: latitude, bbf: liberty, bbf: benchmark, and bbf: summit solidifies BBF’s position as a leading name in Cyprus's commercial real estate market as well....
https://knews.kathimerini.com.cy/en/news/cbc-projects-3-gdp-growth-in-2024
The Central Bank of Cyprus has revised its 2024 forecast for GDP growth to 3%, from 2.8% that was expected last March, mainly due to the upward revision of domestic demand, while it maintained its forecast for growth in the years 2025 and 2026, at 3.1% and 3.2%, respectively....
https://knews.kathimerini.com.cy/en/comment/opinion/cyprus-reforms-are-a-comedy-of-errors-in-governance
Following last Sunday's vote, the much-publicized local government reform will take effect on July 1. This, like many other reforms, has been carried out in typical Cypriot fashion. ...
https://knews.kathimerini.com.cy/en/news/russian-assets-to-fund-ukraine-s-defense-against-russia
Leaders of the Group of Seven nations have struck a landmark agreement to extend a $50 billion loan to Ukraine, funded by interest earned on Russia’s immobilized central bank assets....
https://knews.kathimerini.com.cy/en/news/banks-blame-high-interest-rates-for-decline-of-new-loans
Loan demand continued to fall in the first quarter of 2024, with banks blaming high interest rates for the decline. ...
https://knews.kathimerini.com.cy/en/business/cbc-chief-warns-tax-on-big-profits-could-hurt-economy
The new Governor of the Central Bank of Cyprus (CBC), Christodoulos Patsalides, expressed opposition to a windfall profits tax, which is a tax imposed by governments on companies that have experienced unexpectedly large profits,...
https://knews.kathimerini.com.cy/en/news/cyprus-inflation-could-offset-ecb-rate-cut-benefits
The European Central Bank (ECB) cut its three key interest rates by 25 basis points on Thursday, marking the first reduction after nearly two years of increases or stasis. ...
https://knews.kathimerini.com.cy/en/news/keravnos-continues-to-call-on-banks-to-slash-interest-rates
Finance Minister, Makis Keravnos, called on local banks to slash interest rates, emphasizing the urgency for change in the financial landscape. Keravnos's remarks come just before the European Central Bank's Governing Council convenes,...
https://knews.kathimerini.com.cy/en/news/eurobank-takes-control-with-55-3-share-in-hellenic-bank
The European Central Bank (ECB) has given its approval for Eurobank to acquire a majority stake of over 50% in Hellenic Bank, marking a significant milestone in the banking landscape of Cyprus....
https://knews.kathimerini.com.cy/en/business/banks-record-fewer-bounced-checks-in-may
The number of bounced checks in Cyprus saw a significant drop in May 2024 compared to the same month last year, according to data released by the Central Bank of Cyprus on Tuesday....
https://knews.kathimerini.com.cy/en/news/ecb-approves-eurobank-s-acquisition-of-majority-stake-in-hellenic-bank
The European Central Bank (ECB) has granted the necessary approvals for Eurobank to acquire a 55.3% stake in Hellenic Bank....
https://knews.kathimerini.com.cy/en/business/profits-soared-in-cyprus-banking-sector-in-2023
The Cyprus banking sector experienced a significant surge in profitability by the end of 2023, as indicated by key financial indicators from the Central Bank of Cyprus (CBC)....
https://knews.kathimerini.com.cy/en/news/cbc-reports-€209-1m-increase-in-deposits-for-april
Total deposits have recorded a monthly rise for the third consecutive month in April, as total loans dropped after two months of growth....
https://knews.kathimerini.com.cy/en/news/ecb-to-implement-first-interest-rate-cut
The European Central Bank (ECB) is poised to execute its much-anticipated rate cut, scheduled to take effect on Thursday, June 6, 2024....
https://knews.kathimerini.com.cy/en/news/cyprus-ship-management-revenue-up-despite-global-challenges
Revenue from Cyprus' ship management industry rose by 2.4% in the second half of 2023, despite facing significant global challenges such as rising freight costs and geopolitical tensions, including disruptions in the Red Sea by Houthi forces....
https://knews.kathimerini.com.cy/en/news/why-the-high-interest-rates-when-inflation-is-low
Finance Minister Makis Keravnos has criticized the high lending rates in Cyprus, calling them unjustifiable given the country's relatively low inflation. In an interview with the Sunday edition of ''Phileleftheros,''...
https://knews.kathimerini.com.cy/en/news/a-taste-of-the-first-green-agenda-cyprus-summit
The inaugural "Green Agenda Cyprus Summit" was held on Monday, May 20, at the Hilton Hotel in Nicosia. The event brought together leaders from Cyprus' business community and featured prominent speakers and experts on environmental, sustainability, and energy issues from around the world, aiming to inspire and motivate attendees....
https://knews.kathimerini.com.cy/en/news/world-bank-tribunal-backs-cyprus-2013-bank-measures
Cyprus’ Attorney-General, George Savvides said on Thursday that a decision by the International Arbitral Tribunal of the World Bank on the case Theodoros......
https://knews.kathimerini.com.cy/en/news/cyprus-investment-funds-increase-by-€293-million
The total assets of investment funds in Cyprus grew by approximately €293 million, or 4.5%, in March 2024 compared to December 2023, reaching €6.78 billion....
https://knews.kathimerini.com.cy/en/business/bankers-rally-for-increased-green-financing-despite-longer-payback-periods
According to a report by Panagiotis Rougalas, big players in the financial world are urging banks to step up for a greener future....
