https://knews.kathimerini.com.cy/en/news/creditors-dispute-foreclosure-laws-and-strategic-defaults
Creditors reluctantly agree to extend the freeze on main residence foreclosures up to €350k, but tensions arise over proposed legislative changes....
https://knews.kathimerini.com.cy/en/business/cyprus-banks-bracing-for-profit-squeeze-according-to-moody-s
Moody's believes that Cyprus' small and saturated banking sector, the banks' limited loan portfolio, and low fee and commission income will restrict opportunities for growth in domestic banks' activities and profitability in the long term....
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....
https://knews.kathimerini.com.cy/en/news/president-christodoulides-bold-vision-for-resolving-the-cyprus-issue
We are working with a specific plan so that we can make it possible to break the deadlock and through the solution of the Cyprus problem to reach a mutually beneficial state of affairs for all parties involved, President Nikos Christodoulides said on Monday afternoon....
https://knews.kathimerini.com.cy/en/news/fitch-upgrades-hellenic-s-long-term-rating-to-bb-with-stable-outlook
In a recent announcement, Fitch Ratings raised Hellenic Bank's long-term rating from "BB-" to "BB+" and assigned a stable outlook to the bank. The agency also upgraded the bank's Viability Rating (VR) to "bb+" from "bb-."...
https://knews.kathimerini.com.cy/en/news/will-czech-republic-embrace-the-euro
Despite being part of the European Union for nearly two decades, the Czech Republic remains staunchly opposed to adopting the euro as its official currency. ...
https://knews.kathimerini.com.cy/en/comment/opinion/turkey-the-most-unreliable-ally-of-the-west
The latest developments in the Middle East after the terrorist actions of Hamas and the reaction of Israel have proven once again that Turkey does not want and does not belong to the Western alliance. Tayyip Erdogan’s decision to align himself with the extremist Islamists of Hamas and Iran clearly shows where the country is heading....
https://knews.kathimerini.com.cy/en/news/kedipes-prepares-60-million-euro-mortgage-to-rent-initiative
The sale of primary residences worth up to 350 thousand euros faces a potential new suspension. As of the end of October, no additional steps have been taken regarding divestments....
https://knews.kathimerini.com.cy/en/news/piki-shares-the-government-s-tech-powered-6-year-plan
The government is ramping up the execution of a series of projects, bolstering resources and expertise in collaboration with the Deputy Ministry of Research, Innovation, and Digital Policy, according to Irene Piki, Deputy Minister to the president....
https://knews.kathimerini.com.cy/en/news/cyprus-secures-third-place-in-the-economist-economic-pentathlon
With three gold and two silver medals, Cyprus ranks third in The Economist’s economic pentathlon which has calculated how the 27 EU member states perform on the five major challenges facing them, namely demand/inflation, debt, demography, decarbonisation and decoupling from the world’s autocracies....
https://knews.kathimerini.com.cy/en/news/israeli-hamas-war-puts-cyprus-and-egypt-at-forefront-of-credit-risks
Cyprus and Egypt are currently facing the most direct credit risks among countries rated by Scope Ratings due to the Israeli-Hamas conflict, warns the German firm....
https://knews.kathimerini.com.cy/en/news/tax-audits-expose-unexplained-remittances
Remittances abroad that are not justified by incomes declared in tax statements, problematic parental concessions or donations to children with sums of money directly “from the mattress,” and undeclared earnings were detected by the tax inspection centers in the audits they carried out in the first seven months of the year.
...
https://knews.kathimerini.com.cy/en/news/ireland-s-tax-policies-fill-sovereign-fund-coffers
Countries like Saudi Arabia, Norway, and Chile have long established their own sovereign-wealth funds....
https://knews.kathimerini.com.cy/en/news/government-to-expand-workforce-in-2024
In the 2024 budget, authorities anticipate total general government revenue of €13.2 billion and expenditures of €11.8 billion, resulting in a fiscal surplus of €659 million, equal to 2.2% of GDP. ...
https://knews.kathimerini.com.cy/en/business/ecb-keeps-watchful-eye-on-non-performing-loans
The European Central Bank (ECB) is closely monitoring non-performing loans (NPLs) and related legislation, including the divestment framework. ...
https://knews.kathimerini.com.cy/en/business/what-happened-to-370-000-euros-worth-of-missing-olive-oil
Twenty-five olive oil producers who stored their production in an agricultural cooperative in Polygyros, northern Greece, from where it recently disappeared have filed criminal charges against unknown persons with the security police asking authorities to investigate how this happened and who is behind it....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-secure-moody-s-upgrade-to-investment-status
After 12 years, Moody's has upgraded the ratings of Cyprus' two major banks, Bank of Cyprus and Hellenic Bank, placing them in the investment category....
https://knews.kathimerini.com.cy/en/comment/opinion/real-estate-boom-in-greece-and-cyprus
The real estate landscapes of Greece and Cyprus are undergoing significant transformations, with both nations showcasing promising growth and recovery. However, beneath the surface of these top-line numbers, there are underlying challenges and disparities that need to be addressed....
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....
https://knews.kathimerini.com.cy/en/news/2024-budget-points-to-surplus-and-debt-reduction
The 2024 budget reflects the clear imprint of our policy priorities, President of the Republic Nikos Christodoulides says in a written statement, adding that the fiscal balance for 2024 is estimated to be surplus, reaching 2.2% of GDP, while the medium-term goal, by 2026, is to reduce public debt to 60%....
https://knews.kathimerini.com.cy/en/news/trump-freaks-out-in-response-to-fraud-ruling
Soon after New York Judge Arthur Engoron found Donald Trump and his adult sons liable for fraud and canceled the Trump Organization’s business certification on Tuesday, the disgraced former president freaked out about it in a lengthy all-caps rant on Truth Social that he appeared to have originally written yesterday....
https://knews.kathimerini.com.cy/en/news/syprodat-and-government-join-forces-to-end-non-performing-loans
Finance Minister Makis Keravnos expressed satisfaction with the progress made in divestments and the reduction of non-performing loans (NPLs) during a meeting at the Ministry of Finance with SYPRODAT President Costas Melas and Association Director Jenny Papacharalambous....
https://knews.kathimerini.com.cy/en/comment/opinion/a-closer-look-at-the-greek-turkish-dynamic
The public discourse is inundated with discussions for and against the evolving Greek-Turkish rapprochement. Strangely, there are few references to the Cyprus issue, which has continuously occupied Greek foreign policy since the 1950s....
https://knews.kathimerini.com.cy/en/news/135-debt-reduction-sparks-hope-for-economy
According to the latest data from the Central Bank of Cyprus, the private debt-to-GDP ratio has shown a significant decrease from its peak at the end of the first quarter in 2015 to the end of March 2023. ...
https://knews.kathimerini.com.cy/en/news/former-finance-minister-continues-to-question-euroasia-project
Former Finance Minister Constantinos Petrides has returned to the issue of the Eurasia Interconnector, expressing concerns and raising important questions. In a post on the "X" platform, he highlighted the need for transparency and clarity surrounding this significant and costly project....
https://knews.kathimerini.com.cy/en/news/trump-ran-ponzi-scheme-of-lies-says-duncan
Donald Trump has “the moral compass of an axe murderer”, a Republican opponent in Georgia said, discussing the former president’s legal predicament in the southern US state and elsewhere but also his continuing dominance of the presidential primary....
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....
https://knews.kathimerini.com.cy/en/news/cyprus-faces-deceleration-amid-inflation-and-rising-rates
Cyprus' economy experienced a slowdown in the second quarter of 2023, prompting inquiries about the situation. According to the preliminary estimate provided by the Statistical Service, ...
https://knews.kathimerini.com.cy/en/news/gdp-alert-economic-storm-brewing
Former Minister of Finance, Konstantinos Petrides, comments on the GDP results for the 2nd quarter with five observations....
https://knews.kathimerini.com.cy/en/news/record-surge-in-loan-renegotiations-amidst-rising-interest-rates
Loan renegotiation in the Cyprus banking system spiked to record levels in the first half of 2023, driven mainly by the repeated interest rate hikes by the European Central Bank (ECB) in its effort to tackle soaring inflation....
