https://knews.kathimerini.com.cy/en/business/2024-a-year-that-seriously-damaged-cyprus-s-investment-reputation
2024 will go down in history as a year that seriously damaged Cyprus’s investment reputation, with the collapse of several high-profile state projects....
https://knews.kathimerini.com.cy/en/news/cyprus-bank-account-linked-to-dark-web-‘king-of-coke
The International Consortium of Investigative Journalists (ICIJ), known for its groundbreaking Pandora Papers revelations, has published a report exposing the activities of Mark Chikarowski—an Australian who operated under the pseudonym...
https://knews.kathimerini.com.cy/en/news/luigi-mangione-the-ivy-league-graduate-turned-murderer
In a saga that feels ripped straight from a Netflix thriller, Luigi Mangione, a once-promising Ivy League graduate from a prominent Maryland family, finds himself at the center of one of the year’s most jaw-dropping scandals....
https://knews.kathimerini.com.cy/en/life/temu-s-tempting-deals-are-a-double-edged-sword-for-cypriot-shoppers
Temu, an emerging e-commerce platform, offers an extensive range of products, from gadgets and household goods to clothing and toys, at remarkably low prices....
https://knews.kathimerini.com.cy/en/news/ministry-mulls-subsidies-for-vulnerable-boat-owners-amid-marina-fee-dispute
The Ministry of Transport, Communications, and Works is considering subsidies for "vulnerable" boat owners, sparking a mix of curiosity and skepticism over who qualifies as "vulnerable" in this context....
https://knews.kathimerini.com.cy/en/business/petrolina-acquires-esso-in-cyprus-for-€48-6-million
Petrolina (Holdings) Public Limited (PHL) has successfully acquired ExxonMobil Cyprus Limited (EMCL), the company behind the Esso brand in Cyprus, for €48.6 million. ...
https://knews.kathimerini.com.cy/en/business/bank-workers-union-sets-sights-on-big-move-in-bank-of-cyprus
Last Thursday, the Cyprus Bank Employees' Association (CBA) announced it had sold its shares in Hellenic Bank to Eurobank, but already, reports suggest ETYK, the Cyprus banking employees’ union, is eyeing its next investment....
https://knews.kathimerini.com.cy/en/news/petrolina-platinum-sponsor-of-let-s-do-it-cyprus-clean-up-cyprus-campaign
Aligned with its commitment to support Cyprus and its people, Petrolina continues to support as the Platinum Sponsor of the Let’s Do It! Cyprus campaign for another year....
https://knews.kathimerini.com.cy/en/business/norway-s-billion-dollar-man-says-americans-just-work-harder-than-europeans
Norway’s ''billion-dollar man'' Nicolai Tangen, who manages Norway’s $1.6 trillion sovereign wealth fund, says America’s success over Europe comes down to one simple factor: Americans work harder....
https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-shareholders-moving-at-different-speeds
CarVal Investors recently sold 3% of its 9.09% stake in Bank of Cyprus, sparking speculation that other shareholders may follow suit and sell their shares....
https://knews.kathimerini.com.cy/en/news/attica-bank-secures-us-investment-ahead-of-€672m-share-sale
Two major US investment funds are expected to participate in Attica Bank’s share capital increase, which takes place from October 21 to 30 and aims to raise 672.2 million euros....
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/phase-one-of-paralimni-marina-set-for-completion-by-year-s-end
The first phase of the Paralimni Marina, which will feature 300 berths, is expected to be completed by the end of the year, with the first boats arriving before the start of the next tourist season, according to Paralimni-Deryneia Mayor George Nikolettos....
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/business/eurobank-completes-takeover-of-hellenic-bank
Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A., has successfully completed its mandatory takeover bid for Hellenic Bank Public Company Limited. ...
https://knews.kathimerini.com.cy/en/news/kamala-harris-selects-tim-walz-as-running-mate
Viewed by many as a dark horse candidate, Illinois Gov. J.B. Pritzker has not been selected to serve as Kamala Harris’ running mate. Harris chose Minnesota Gov. Tim Walz as the Democratic Party’s vice-presidential candidate...
https://knews.kathimerini.com.cy/en/news/cypriot-and-foreign-investors-keen-on-larnaca-s-€30m-marina-project
Transport Minister Alexis Vafeadis announced significant interest from both Cypriot and foreign investors in the development of the Larnaca marina and port....
https://knews.kathimerini.com.cy/en/business/bank-of-england-cuts-interest-rates-after-nearly-a-year-of-stability
The Bank of England (BoE) has cut interest rates for the first time since the start of the COVID-19 pandemic, dropping them from a 16-year high. This decision, made by a narrow 5-4 vote, reflects a split among policymakers about whether inflation is under control....
https://knews.kathimerini.com.cy/en/news/larnaca-marina-gets-€30m-upgrade-port-project-postponed
The government abandoned the joint development of the Larnaca port and marina, announcing on Thursday projects estimated at over €30 million to upgrade the marina and the surrounding area, heeding the suggestions of the city’s local stakeholders....
https://knews.kathimerini.com.cy/en/news/kition-government-s-failures-disrupt-larnaca-port
Kition Ocean Holdings has launched a scathing critique of the government’s handling of the transition of operations at Larnaca Port and Marina....
https://knews.kathimerini.com.cy/en/news/public-works-enforces-€100-000-fine-for-nicosia-ring-road-delay
The Public Works Department has activated a contract clause imposing penalties on Cyfield Construction Ltd. for delays in the completion of the first phase of the Nicosia Ring Road....
https://knews.kathimerini.com.cy/en/news/eurobank-gains-green-light-for-100-acquisition-of-hellenic-bank
The Cyprus Securities and Exchange Commission (the “CySEC”) approved on 25 June 2024, the publication of the Takeover Bid Document for the acquisition by Eurobank S.A. of up to 100% of the issued share capital of Hellenic Bank, whose shares are listed on the Main Market of the Cyprus Stock Exchange (“CSE”).
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https://knews.kathimerini.com.cy/en/business/us-sanctions-target-russian-cypriot-connections
A Cypriot connection has emerged among the latest targets of US sanctions against Russia, with the US Treasury Department announcing penalties on Wednesday affecting individuals and entities linked to Cyprus. ...
https://knews.kathimerini.com.cy/en/business/eurobank-increases-stake-in-hellenic-bank-to-55-48
Eurobank's share in Hellenic Bank has increased to 55.48%, after the latest acquisition of 240.303 shares, for €0.62 million....
https://knews.kathimerini.com.cy/en/business/eurobank-boosts-stake-in-hellenic-bank-with-over-500-000-shares
Eurobank has acquired 503,934 more shares in Hellenic Bank, for the cost of €1.29 mn, increasing its share at 55.42%....
https://knews.kathimerini.com.cy/en/news/vasiliko-president-dismisses-velvet-divorce-talks-with-chinese-firm
Cyprus President Nikos Christodoulides dismissed reports of a "velvet divorce" with the Chinese state-owned company CPP regarding the liquefied natural gas (LNG) terminal in Vasiliko....
https://knews.kathimerini.com.cy/en/business/athens-welcomes-nine-athens-hotel-a-treppides-project
Treppides Investments & Holdings is thrilled to unveil its latest project, the Nine Athens Hotel, a new boutique hotel in the vibrant heart of Athens. ...
https://knews.kathimerini.com.cy/en/news/president-stresses-urgency-on-larnaca-development
Τhe President of the Republic, Nikos Christodoulides, has urged ministers on Wednesday to move quickly, referring to the issue that arose with Larnaca port and the marina project....
https://knews.kathimerini.com.cy/en/news/government-seeks-new-investor-for-larnaca-port
After prolonged negotiations, the government has reached a resolution with the consortium tasked with revamping the port and marina of Larnaca......
https://knews.kathimerini.com.cy/en/news/vafeadis-government-had-no-choice-but-to-terminate-the-contract
In a significant announcement, Cyprus’ Minister of Transport, Communications, and Works, Alexis Vafeades, declared that the government had no choice but to terminate the contract with Kition Ocean Holdings Ltd, tasked with the redevelopment and operation of the Larnaca Port and Marina area....
