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1681. Cyber gang badgers Cypriot university to cough up $100K

The notorious Medusa ransomware gang is asking for $100,000 from Open University of Cyprus following a cyberattack on the institution’s digital platforms, with data samples already leaked online to prove they are not kidding...

1682. CySEC fines CIF one million euros for regulatory violations

The Cyprus Securities and Exchange Commission (CySEC) announced its decision to impose a fine of one million euros on the Cyprus Investment Firm (CIF) Itrade Global Ltd....

1683. Two Cypriots sanctioned by UK over links to Russian oligarchs

The British government has added two Cypriots to its sanctions list due to their professional connections with Russian oligarchs Roman Abramovich and Aliyev Ushmanov. ...

1684. Three major concerns of ECB regarding Cypriot banks

Although Cypriot banks have made great progress over the last decade, foreign supervisors have reservations and summarise their concerns in three areas....

1685. Greek banks freeze mortgage installments for 12 Months

Eurobank, Piraeus and Alpha Bank have announced that they will be keeping mortgage installments at their current levels for 12 months. As pledged by the first two banks, the baseline rates of serviced mortgage loans will remain at the levels they were on March 31, 2023, minus 20 basis points, for 12 months, starting in May. National Bank is expected to follow suit....

1686. IMF projects steady GDP growth for Cyprus in 2023

The International Monetary Fund (IMF) maintained its projection for Cyprus’ economic growth in 2023 at 2.5% of GDP, while real GDP growth is expected to pick up pace in the next year....

1687. K. Treppides & Co Ltd: Sustainable Finance

Sustainability is the key to a better, healthier, and more viable future as it improves the quality of our lives with the use of natural resources which protect our ecosystem in general. By taking into consideration the three pillars of economic viability, environmental protection, and social well-being, we can preserve the future generations’ needs while, from a corporate perspective, the development of sustainable strategies can lead to a company’s longevity....

1688. Cyprus winemakers to receive €22 million in EU support

Cyprus through the National Plan for the wine sector will provide viticulturists and winemakers with more than €22 million of support from EU funds by October 2023, Minister of Agriculture, Rural Development and the Environment Petros Xenofontos said on Sunday. ...

1689. Are you ready for ChatGPT to take over your job?

Since its release in November of last year, OpenAI's ChatGPT has been used to write cover letters, create a children's book, and even help students cheat on their essays....

1690. Cypriot fund facing mighty resistance in Lukoil deal

Efforts to dispel US concerns over suspected Russian influence in a Cypriot fund buying a Lukoil plant in Sicily may be gaining traction with Italian officials, with reports suggesting American resistance may be losing ground after a crucial meeting last week...

1691. What is the future for banks?

Banks have suffered significantly in the last 15 years. Some have been forced to shut down, while others had to reduce deposits. In some countries, banks have been subject to capital controls, and many have had to change their shareholder structure due to state intervention....

1692. Investors flock to 'green' bonds as a secure investment

1693. Inside the high-stakes prosecution of a former president

Former U.S. President Donald Trump has made history by becoming the first president to face criminal charges before a court of justice in the United States. ...

1694. KEAN shares sold: New owners to bring fresh ideas and investments

In a recent development, the shareholders of KEAN have decided to sell their shares to bbf, a company operating in the field of development projects. ...

1695. Passports of Russian officials confiscated to prevent overseas escape

A Soviet-style practice is being resorted to by Russia's security services, confiscating the passports of senior officials and executives of state-owned companies to prevent travel abroad, as "paranoia about leaks and defections spreads in Vladimir Putin's regime," reports the Financial Times....

1696. Announcement Appointment of Senior Managers in K. Treppides & Co Ltd

The Management of K. Treppides & Co Ltd is committed to develop leaders who derive from own people and who pursue excellence in the provision of high quality specialised and unique services. We are pleased to announce the appointment of the following members on the Board of Management effective as of 1 April 2023. ...

1697. Prem Watsa: 'Greek banks are safer'

Greece has entered a virtuous cycle of growth, and the next few years will be especially beneficial to the economy and Greeks if political stability is maintained and business-friendly policies are implemented....

1698. Minister of Labor to submit CoLA mediation proposal

Minister of Labour and Social Insurance Yiannis Panayiotou said on Friday he would submit a mediation proposal to the social partners (trade unions and employers) to reach an agreement on the issue of the Cost of Living Allowance (CoLA)....

1699. BP and ADNOC's bold bid for the Leviathan field

Last Tuesday, British multinational oil giant BP and Emirati Abu Dhabi National Oil (Adnoc, the UAE's state oil company) announced a joint bid to buy 50% of Israel's NewMed Energy in a $2 billion deal. ...

1700. Completion of Project Starlight

1701. Is it the beginning of the end of the gender pay gap?

Imagine you are Anna, a dedicated and hardworking engineer with a passion for your work. You've spent years honing your skills and made a significant contribution to your company's success....

1702. Cabinet cracks down on stadium violence

Following the riots inside and outside the Eleftheria stadium, the government places the fight against violence in sports venues squarely on the shoulders of the police. ...

1703. FinMin stresses importance of stable legislation for out-of-court auctions

The Finance Ministry has stressed the importance of having stable legislation regulating out-of-court auctions, in tandem with an effective insolvency framework in order to achieve a reduction of bad loans....

1704. Generative AI could automate 300mn jobs

According to a report in the Financial Times, Goldman Sachs has found that "generative" AI systems such as ChatGPT could lead to the automation of a quarter of the work done in the US and eurozone....

1705. No dignity for elderly refugee thanks to government

An elderly refugee, who is facing health problems and lives in one of the 43 unrepairable refugee apartment buildings without a lift, is confronted with a harsh reality in the twilight of his life....

1706. Keravnos urges banks to restructure loans and keep rates low

Cyprus Finance Minister Makis Keravnos has urged banks to restructure loans, maintain low lending rates and bank charges, and increase deposit rates in light of continued basic rate hikes by Central Banks. He warned that otherwise the government "would make different thoughts."...

1707. March Newsletter of K. Treppides & Co Ltd: CySEC

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....

1708. Saudi National Bank president resigns

The chairman of Saudi National Bank, which was the main shareholder of Credit Suisse before its takeover earlier this month, has resigned, according to a statement published on the Saudi stock exchange....

1709. Marinas of the future with antiquated regulations

The need to modernize marina legislation was raised before the House Commerce Committee, with its chairman, Kyriakos Hatzigiannis, declaring his willingness to move forward with a legislative proposal....

1710. Cyprus to open 4 new embassies this year

Cyprus' diplomatic presence abroad is being upgraded with the reopening or the opening of four embassies in 2023....