https://knews.kathimerini.com.cy/en/news/interest-rates-extended-borrowers-face-dilemma
Last Thursday, the European Central Bank (ECB) opted to maintain interest rates, extending the uncertainty for borrowers regarding their loans and repayments....
https://knews.kathimerini.com.cy/en/news/parliament-enacts-law-granting-tax-exemption-on-loan-repayments
The House of Representatives has unanimously approved a law exempting individuals who sold real estate or transferred shares to repay Non-Servicing Loans from the 0.4% tax designated for the Central Equal Weight Sharing Agency...
https://knews.kathimerini.com.cy/en/news/concerns-grow-over-new-faces-controlling-the-streets
Amid a series of serious events, concerns intensify as the Minister of Justice officially addresses the ''difficult situation.''...
https://knews.kathimerini.com.cy/en/comment/opinion/can-cyprus-withstand-yet-another-crisis
The recent Houthi attacks on commercial vessels navigating the Red Sea have triggered another disturbance in the intricate web of the global supply chain...
https://knews.kathimerini.com.cy/en/news/1-non-performing-loans-hold-steady-at-€2b-amid-rising-rates
Non-performing loans in the Cyprus banking system remained essentially unchanged at €2 billion in October 2023, marking a marginal reduction of just €2 million, in an environment of rising interest rates....
https://knews.kathimerini.com.cy/en/comment/opinion/it-is-therefore-right-that-i-resign
I wrote in my previous article ("How the prestige of the institutions is undermined", Kathimerini, 7/1/24) that, based on the conclusion of the auditors of the Independent Anti-Corruption Authority and announcements of the Audit Service,...
https://knews.kathimerini.com.cy/en/news/dr-anastasatos-forecasts-bright-future-for-cyprus-economy-in-candid-interview
Eurobank group's chief economist, Dr Tasos Anastasatos, expresses optimism about the Cyprus economy, emphasizing that the decision to expand the group's banking presence in Cyprus is linked to these positive economic prospects....
https://knews.kathimerini.com.cy/en/news/cyprus-real-estate-booms-in-q3-2023
Cyprus experienced a real estate boom in the third quarter of 2023, with housing prices soaring and a surge in demand from both domestic and foreign buyers, according to data released by the Central Bank of Cyprus (CBC) on Wednesday....
https://knews.kathimerini.com.cy/en/business/cyprus-grapples-with-lingering-private-debt-woes
In Cyprus, the European Commission consistently highlights the significant economic challenge of private debt through regular post-program or post-memorandum reports....
https://knews.kathimerini.com.cy/en/news/same-sex-childbearing-not-allowed-says-archbishop-george
Archbishop George of Cyprus clarifies the content of his Christmas message, which sparked political reactions....
https://knews.kathimerini.com.cy/en/news/deputy-pm-and-mp-deny-explosive-bribery-claims
In a shocking turn of events, a bribery scandal has erupted in the Turkish Cypriot government, implicating the deputy prime minister and a board member of the development bank....
https://knews.kathimerini.com.cy/en/news/european-commission-disburses-funds-to-six-member-states
The European Commission disbursed payments to six Member States Thursday, under the Recovery and Resilience Facility (RRF)....
https://knews.kathimerini.com.cy/en/news/ec-allocates-recovery-funds-to-six-member-states
The European Commission disbursed payments to six Member States on Thursday, marking a milestone in the implementation of the Recovery and Resilience Facility (RRF). ...
https://knews.kathimerini.com.cy/en/news/cypriot-market-braces-for-impact-amidst-suez-canal-disruptions
In a recent interview with KEBE Secretary General Marios Tsiakkis, concerns were raised about the inevitable impact on product prices in Cyprus due to increased fees for ships carrying containers. ...
https://knews.kathimerini.com.cy/en/business/landlords-urged-to-be-reasonable-when-pricing-rentals
Marinos Keynegirou, the president of the Real Estate Registration Council, warns of escalating prices and dwindling demand in the real estate market's fourth quarter....
https://knews.kathimerini.com.cy/en/news/2024-budget-gets-green-light-–-inside-scoop-on-state-wage-proposals
The 2024 budget was passed into law relatively comfortably, with a total of 37 MPs voting for it, while 19 were opposed. ...
https://knews.kathimerini.com.cy/en/news/half-of-cyprus-loans-vulnerable-to-euribor-and-ecb-rates
Half of the loans in Cyprus are "vulnerable" to euribor and the European Central Bank's (ECB) key rates. In 2024 and 2025, we may not expect further increases, but rather possible decreases, according to the Central Bank of Cyprus' Financial Stability Report for 2022....
https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-expands-with-€58m-loan-acquisition
Agreement for the Acquisition of a Performing Loan Portfolio.
...
https://knews.kathimerini.com.cy/en/news/cbc-warns-of-non-performing-loan-surge-amid-economic-challenges
The Central Bank of Cyprus (CBC) issued a warning on Monday, cautioning about the potential influx of non-performing loans (NPLs) driven by high-interest rates and inflation, which are impacting households' disposable income and businesses' profitability....
https://knews.kathimerini.com.cy/en/news/themis-themistocles-signals-potential-2024-interest-rate-cut
In their ''Year Ahead 2024'' forecast, analysts at Swiss financial giant UBS anticipate a slowdown in the strength of the US economy throughout 2023. ...
https://knews.kathimerini.com.cy/en/news/government-seeks-€1b-via-emnt-bond-in-2024
Cyprus’ financing needs for 2024 amount to €1.3 billion, largely to be covered by the issuance of a €1 billion EMNT bond, the Finance Ministry’s Public Debt Management Office (PDMO) has said.
...
https://knews.kathimerini.com.cy/en/news/eu-council-s-historic-decision-to-benefit-ukraine-moldova-and-georgia
Without agreement on the European budget, the first day of the European Council meeting was concluded at 2.30 Brussels time (3.30 a.m. on Friday), as no "common ground" was found on the revision of the budget (2021-2027), due to lack of unanimity....
https://knews.kathimerini.com.cy/en/news/parliament-approves-measures-for-npls-and-foreclosures-framework
Cyprus' Finance Ministry has expressed satisfaction with the parliament's approval of laws integral to the comprehensive package for managing Non-Performing Loans (NPLs) and the foreclosure framework....
https://knews.kathimerini.com.cy/en/news/non-performing-loans-take-a-€95m-dive
As of the end of September 2023, the total Non-Performing Loans (NPLs) in the banking system of Cyprus further decreased to €2.02 billion compared to €2.08 billion at the end of August.
...
https://knews.kathimerini.com.cy/en/business/cyprus-economy-receives-positive-rating-boost
Fitch, the International Rating Agency, upgraded Cyprus' long-term rating to positive, citing economic resilience and fiscal strength. The agency affirmed the 'BBB' rating, previously upgraded in March 2023. ...
https://knews.kathimerini.com.cy/en/news/critical-battle-looms-as-parliament-debates-foreclosure-legislation
Background consultations are in progress to prepare amendments to the legislative package on divestments, set for submission to the Parliament Plenary on Friday for a vote....
https://knews.kathimerini.com.cy/en/news/mortgage-to-rent-scheme-sparks-overwhelming-interest-as-call-centers-inundated
In a significant response to the newly launched 'Mortgage to Rent' Scheme by the implementing agency, KEDIPES, the service center has been inundated with hundreds of calls since the official commencement of the initiative today....
https://knews.kathimerini.com.cy/en/news/mortgage-rates-soar-to-4-91-deposits-decline-in-october-2023
Mortgage interest rates in Cyprus climbed to 4.91% in October 2023, according to data released by the Central Bank of Cyprus in its November 2023 edition of Monetary and Financial Statistics....
https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-returns-to-london-for-investment-talks
Just two months after its last visit to the heart of investment interest, the Bank of Cyprus is making waves again in London....
https://knews.kathimerini.com.cy/en/news/kedipes-introduces-rent-to-own-scheme-for-vulnerable-households
Starting December 4, the government, in collaboration with KEDIPES, opens applications for the innovative "rent for hire-purchase" scheme. This initiative aims to fully settle loans secured on the main residences of vulnerable households, offering a lifeline to those facing financial challenges....
