https://knews.kathimerini.com.cy/en/comment/opinion/cyprus-non-performing-loans-drop-to-lowest-level-in-years
Total non-performing loans (NPLs) to banks have dropped below €2 billion, specifically to €1.9 billion. ...
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-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/us-fund-eyes-investment-in-greece-cyprus-israel-sea-link
The US sovereign wealth fund, SWF, is keen on joining the Greece-Cyprus-Israel Great Sea Interconnector project. ADMIE, the Transmission System Operator for the Hellenic Electricity Transmission System, confirmed SWF's interest, which could involve funding or loans....
https://knews.kathimerini.com.cy/en/news/bank-of-cyprus-earns-€133-million-in-profits
The Bank of Cyprus has announced a robust profit of EUR 133 million for the first quarter of 2024, marking a significant increase from EUR 95 million in the same period last year....
https://knews.kathimerini.com.cy/en/news/cypriot-banks-set-to-exceed-2023-s-record-profits-in-2024
Cypriot banks are maintaining a low profile, but it's expected that 2024 will bring in higher profits compared to the record-breaking figures of 2023. ...
https://knews.kathimerini.com.cy/en/news/chinese-president-s-visits-to-serbia-and-hungary-yield-new-economic-deals
When Chinese President Xi Jinping visited Hungary last week, he arrived to one of the few places in the European Union where his country is considered......
https://knews.kathimerini.com.cy/en/business/household-deposit-rates-surge-as-home-buying-loan-rates-dip
In March 2024, the financial landscape in Cyprus saw some interesting shifts, according to data released by the Central Bank of Cyprus. Here's a breakdown of what happened:...
https://knews.kathimerini.com.cy/en/news/china-s-leader-targets-hungary-serbia-for-investments
Chinese leader Xi Jinping will spend most of his five-day tour in Europe this week in two small countries in the continent’s eastern half, a region that Beijing has used as a foothold for its expanding economic ambitions in Europe....
https://knews.kathimerini.com.cy/en/news/former-central-bank-governor-reflects-on-achievements-and-future-plans
In an exclusive interview with Andreas Kimitris of Kathimerini, former Cyprus Central Bank Governor Constantinos Herodotou delved into various aspects of his tenure and the hurdles encountered during his term. ...
https://knews.kathimerini.com.cy/en/news/cyprus-reports-€133-1-million-increase-in-march-loans
In March, both total deposits and loans saw an upward trend, with liquidity (the difference between loans and deposits) exceeding €27 billion, according to statistics on deposits and loans from Monetary Financial Institutions published today by the Central Bank of Cyprus.
...
https://knews.kathimerini.com.cy/en/news/cyprus-public-debt-declines-economic-outlook-brightens
According to a report by Panayiotis Rougalas, Cyprus is seeing a promising reduction in its public debt, with figures suggesting a return to 2019 levels....
https://knews.kathimerini.com.cy/en/news/astrobank-s-record-breaking-year-€30-4m-in-profits-for-2023
AstroBank reported Profit After Tax of €30.4 million for 2023, representing a return on equity (RoE) of 13.9%, compared with €12.2 million and RoE of 6.2% for 2022, achieving an increase on profit of 150%, mainly due to increased interest income....
https://knews.kathimerini.com.cy/en/business/alphamega-hypermarkets-and-bean-bar-reward-employees-with-pay-rises
C.A. Papaellinas Emporiki Ltd granted its annual pay rises of more than €4.5m ...
https://knews.kathimerini.com.cy/en/business/businesses-turn-to-banks-amid-funding-crunch
In 2023, businesses encountered a tough road ahead when it came to securing loans, as costs continued to climb....
https://knews.kathimerini.com.cy/en/news/cbc-governor-faces-toughest-banking-challenges-yet
A new dawn breaks with the appointment of Mr. Christodoulos Patsalides as the Central Bank of Cyprus's new governor, heralding both promise and challenge....
https://knews.kathimerini.com.cy/en/news/president-christodoulides-hails-financial-progress-with-new-cbc-governor
The appointment ceremony for the new governor of the Central Bank of Cyprus, Mr. Christodoulos Patsalides, occurred this morning at the Presidential Palace, with the President of the Republic, Mr. Nikos Christodoulides, in attendance....
https://knews.kathimerini.com.cy/en/news/kedipes-introduces-plan-to-help-borrowers-repay-home-loans
The Cyprus Asset Management Company (KEDIPES) has unveiled a new initiative aimed at assisting borrowers in repaying their home loans....
https://knews.kathimerini.com.cy/en/news/cyprus-records-€575-5-million-in-new-loans
Cyprus recorded a significant increase in total new loans in February, reaching €575.5 million, up from €462.7 million in the previous month. This surge was primarily driven by a notable rise in loans granted to companies, totalling approximately €130 million, according to data released by the Central Bank of Cyprus (CBC).
...
https://knews.kathimerini.com.cy/en/news/trump-s-$175m-bond-halts-ny-fraud-case-collection
Former President Donald Trump has taken action in his New York civil fraud case, posting a $175 million bond on Monday.
...
https://knews.kathimerini.com.cy/en/news/banks-february-deposits-rise-by-€65-4-million
Total deposits in February recorded a significant net increase by €65.4 million following a decrease of €366.0 million in the previous month......
https://knews.kathimerini.com.cy/en/business/business-loans-drop-home-loans-steady
The Central Bank of Cyprus reported on Wednesday that the net demand for corporate loans continued to decrease in the last quarter of 2023, marking a consistent downward trend since the first quarter of 2022, although at a slower pace than anticipated earlier in the year....
https://knews.kathimerini.com.cy/en/news/cyprus-economy-holds-steady-amid-challenges
Canadian credit rating agency DBRS Ratings GmbH (Morningstar DBRS) has affirmed the Republic of Cyprus's long-term ratings, maintaining it at BBB (high) with a stable economic outlook. ...
https://knews.kathimerini.com.cy/en/news/cyprus-economic-resilience-earns-high-credit-rating-confirmation
International rating agency Morningstar DBRS has confirmed Cyprus’ BBB (high) long-term credit rating with a stable trend, noting that favourable economic prospects balance downside risks.
...
https://knews.kathimerini.com.cy/en/business/cyprus-embraces-global-investment-with-its-bond-market-debut
In April 2024, the Republic of Cyprus is gearing up to enter the international bond markets, intending to issue a Euro Medium Term Note (EMTN) bond worth 1 billion euros....
https://knews.kathimerini.com.cy/en/comment/opinion/what-are-they-afraid-of
Transparency is not merely a good thing; it is essential. However, with the exception of one, credit buyout companies seem unwilling to disclose their financial results, keeping them shrouded in secrecy....
https://knews.kathimerini.com.cy/en/news/nepali-fighters-demand-return-from-russia-s-war-in-ukraine
Around 2,000 Nepali men have been recruited by Russia to fight in its war against Ukraine, according to information obtained by Sky News. Many of these men, driven by poverty, are now seeking a way to return home....
https://knews.kathimerini.com.cy/en/news/cyprus-and-eu-allies-forge-€7-4b-deal-with-egypt-to-transform-energy-landscape
European Union and Egyptian leaders joined forces on Sunday to sign a substantial €7.4 billion financial package aimed at bolstering Egypt's economy, enhancing energy trade with Europe, and addressing irregular migrant flows....
https://knews.kathimerini.com.cy/en/business/greek-and-cypriot-banks-forge-partnerships-for-regional-infrastructure-projects
The Cypriot banking sector is poised to support significant projects with regional geopolitical implications....
https://knews.kathimerini.com.cy/en/business/kedipes-successfully-sells-€58-4m-portfolio-to-reduce-debt
The Cyprus Asset Management Company (KEDIPES) announced Thursday the successful completion of a sale of performing and restructured loan portfolios to Bank of Cyprus Public Company Limited, with a combined gross book value of €58.4 million as of December 31, 2022....
