https://knews.kathimerini.com.cy/en/business/hellenic-bank-sells-its-most-expensive-home
Hellenic Bank has sold its most expensive home according to a special report, with foreign investors shelling out 3 million for a mansion in Lakatamia...
https://knews.kathimerini.com.cy/en/news/the-market-needs-oxygen-finmin-says
The market needs oxygen, Finance Minister Constantinos Petrides said Monday, stressing that the least citizens expect from politicians is to reach a consensus in order to support the economy in line with a prudent policy without placing it in further danger....
https://knews.kathimerini.com.cy/en/news/1-cabinet-approves-new-bundle-of-support-measures
The Cabinet on Thursday approved a new bundle of support measures for businesses to keep the economy afloat after the slowdown brought about by the coronavirus outbreak....
https://knews.kathimerini.com.cy/en/news/coronavirus-derails-southern-europe-s-clean-up-from-the-last-crisis
This year was meant to mark a turning point for Greek and Italian banks as they finally laid the ghosts of the financial crisis to rest. Then the coronavirus struck....
https://knews.kathimerini.com.cy/en/news/over-23-000-applications-filed-for-suspension-of-loan-payments
More than 23,000 persons have applied to the island’s two largest banks for a suspension of loan repayments, as retail borrowers and companies are trying to preserve disposable income amid the economic activity shutdown due to the coronavirus pandemic....
https://knews.kathimerini.com.cy/en/news/euro-zone-ministers-look-for-economy-quick-fixes
Euro zone finance ministers are likely to converge on Tuesday on three quick options to support the economy in the wake of the coronavirus epidemic, officials have said, with some discussion also of longer-term ideas to aid a recovery....
https://knews.kathimerini.com.cy/en/news/loan-payments-to-be-suspended-for-nine-months
After over two weeks of discussions between the Ministry of Finance, the Ministry of Labor, the Central Bank, the Association of Cyprus Banks and other financial entities to minimize the impact of coronavirus on the Cyprus economy, white smoke has emerged with all parties agreeing that payoffs for all types of loans are to be suspended for nine months....
https://knews.kathimerini.com.cy/en/news/government-considering-to-give-banks-€2b-in-state-guarantees-to-unlock-credit
The Cyprus government is considering a plan to provide state guarantees to banks amounting to €2 billion, in a bid to unlock credit to self-employed, small and medium-sized enterprises and large corporations hit by the coronavirus epidemic....
https://knews.kathimerini.com.cy/en/news/trump-declares-coronavirus-outbreak-a-national-emergency
President Donald Trump said Friday he was declaring a national emergency -- "two very big words" -- to free up $50 billion in federal resources to combat coronavirus, part of a raft of new measures Trump hopes can bring a roiling health crisis under control....
https://knews.kathimerini.com.cy/en/news/eu-to-launch-€37bn-coronavirus-investment-initiative
The European Union will launch a 37 billion euro investment initiative as part of a package of measures to cushion the bloc’s economies from the impact of coronavirus, European Commission President Ursula von der Leyen said on Friday....
https://knews.kathimerini.com.cy/en/business/end-of-2019-sees-historic-high-in-investment-funds-assets
Investment funds’ assets reached a historic high at the end of 2019, data released by the Cyprus Central Bank on Thursday showed....
https://knews.kathimerini.com.cy/en/news/banks-must-find-new-profitable-products-cbc-governor-says
The task of securing alternative profitable products besides lending is the biggest challenge for banks in small countries such as Cyprus, Central Bank Governor Constantinos Herodotou said on Friday....
https://knews.kathimerini.com.cy/en/news/cyprus-pays-off-costly-crisis-loan-early
The Cypriot finance minister says the government is repaying an IMF rescue loan faster and at a lower rate after a double bond issuance expected to secure most of the country’s borrowing needs for 2020...
https://knews.kathimerini.com.cy/en/news/central-warns-banks-‘not-to-overdo-it
The Governor of the Central Bank of Cyprus has called on smaller local banks not to get carried away with loaning money, urging them to follow the example of bigger banks and focus on reducing toxic debt...
https://knews.kathimerini.com.cy/en/business/cyprus-to-start-process-for-early-repayment-of-imf-loan-finance-minister-announces
Finance Minister Harris Georgiades announced on Tuesday that an official process will be launched for the early and full repayment of an IMF loan, following the repayment of a loan from Russia....
https://knews.kathimerini.com.cy/en/business/hellenic-bank-posts-profit-of-€59-1-million-in-first-half-of-2019
The Hellenic Bank has announced that it has posted a profit of €59.1 million after tax in the first half of this year with CEO Yiannis Matsis noting that the results reflect part from the benefits from the acquisition of the operations of former Cyprus Cooperative Bank.
...
https://knews.kathimerini.com.cy/en/news/moody-s-changes-cyprus-outlook-to-positive
Rating agency Moody’s changed the outlook for the Cypriot economy to positive from stable, citing the reduction of the sovereign exposure to event risks stemming from the banking sector and the improving fiscal strength beating previous expectations...
https://knews.kathimerini.com.cy/en/business/four-new-partners-at-harris-kyriakides-llc
Harris Kyriakides LLC announces four new partners in the company. As of the 1st of September 2019 the new partners are Andreas Anagnostou, Myria Loizou, Georgia Karamalli and Nicolas Kyriakides.
...
https://knews.kathimerini.com.cy/en/news/estia-scheme-kicks-in-for-eligible-borrowers
The Estia plan aimed at boosting borrowers’ ability to repay their defaulted loans went into effect on Monday, as the Cypriot government embarks on a scheme to subsidize repayments of restructured loans...
https://knews.kathimerini.com.cy/en/business/scope-rates-cyprus-with-bbb
Scope Ratings affirmed last week the Republic of Cyprus’ BBB- long-term issuer and senior unsecured local- and foreign-currency ratings, along with a short-term issuer rating of S-2 in both local and foreign currency, noting that all outlooks are stable...
https://knews.kathimerini.com.cy/en/news/finance-committee-seeks-compromise-on-foreclosures
The House of Representatives Finance Committee meets on Friday to discuss proposals that would normalize the legislative framework on foreclosures...
https://knews.kathimerini.com.cy/en/news/non-performing-loans-decline-to-€10-14-billion
Non-performing loans as defined by the European Banking Authority declined to €10.14 billion in March 2019, marking a reduction of €151 million compared to previous month.
...
https://knews.kathimerini.com.cy/en/news/s-p-affirms-bank-of-cyprus-ratings
Standard & Poor’s affirmed on Tuesday their `B+/B` long- and short-term issuer credit ratings on Bank of Cyprus Public Co. Ltd. (BoC), noting that the outlook is stable...
https://knews.kathimerini.com.cy/en/news/ecb-warns-of-significant-negative-impact
The European Central Bank (ECB) has warned of “significant negative impact” to the Cypriot banking system in case a new law amending the legal on foreclosures is implemented.
...
https://knews.kathimerini.com.cy/en/news/central-banker-mulls-bridging-framework-on-foreclosures
The Central Bank will present recommendations aimed at rectifying the foreclosure framework it was announced on Thursday...
https://knews.kathimerini.com.cy/en/news/foreclosure-legislation-deemed-unconstitutional
Finance Minister Haris Georgiades said on Tuesday that "a legislative framework must be effective, it must not change frequently, in order to create a trustworthy framework that will enable us to manage this last remaining problem of non-performing loans.''
...
https://knews.kathimerini.com.cy/en/news/bloomberg-turkey-has-abandoned-the-west
In an opinion piece Bloomberg's editorial board writes that Turkey is an increasingly erratic ally that is no longer worth the risks.
...
https://knews.kathimerini.com.cy/en/news/moodys-warns-foreclosure-laws-increase-risk-for-banks
Cyprus’ new foreclosure framework hampers banks efforts to reduce NPLs said credit rating agency Moody's in an announcement on Thursday....
https://knews.kathimerini.com.cy/en/news/cyprus-parliament-suspends-foreclosures
The House of Representatives voted in its last plenary before summer recess an amendment to the foreclosure law that foresees a freeze in foreclosures and suspension for loans eligible for the ESTIA loan relief plan...
https://knews.kathimerini.com.cy/en/news/warnings-over-new-foreclosure-legislation
A total of five bills concerning a new foreclosure legislation are expected to be discussed on Thursday at a meeting of the House of Representatives Finance Committee...
