https://knews.kathimerini.com.cy/en/news/banks-urged-to-accelerate-loan-restructurings
The governor of the Central Bank has shed light on the strategy for restructuring Non-Performing Loans (NPLs) and navigating credit risk management....
https://knews.kathimerini.com.cy/en/life/the-senior-school-unveils-annual-talent-extravaganza
The Senior School Performing Arts present: 'Imprints', a talent show....
https://knews.kathimerini.com.cy/en/business/deal-in-the-works-for-cnp-cyprus
The subsidiary of the French insurance giant CNP Assurances, CNP Cyprus Insurance Holdings, is currently in discussions for a potential change in ownership. ...
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/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/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/the-bill-goes-to-the-president
The resignation of Deputy Minister of Innovation Philippos Hadjizacharias shouldn't come as a surprise. This is not solely due to ethical considerations, as his name has been among those vilified and deconstructed by the Presidential Office....
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/life2vec-an-ai-algorithm-predicts-your-future-with-high-accuracy
In a groundbreaking development, scientists have introduced an algorithm named 'Life2vec' that leverages personal life stories to forecast an individual's future, including potential lifespan. ...
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/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/news/embark-on-a-journey-of-cloudy-capers-in-this-playful-forecast
Step right up, ladies and gentlemen, to the grand spectacle of today's weather extravaganza! We've got a whimsical mix of clouds doing a cha-cha, with a chance of showers and isolated thunderstorms staging a surprise performance ...
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/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/business/cyprus-gets-bbb-boost-in-latest-ratings-but-challenges-persist
The German Scope Ratings have given a positive sign for Cyprus by upgrading the country to BBB+ last Friday from the previous BBB while keeping the outlook of the economy stable. ...
https://knews.kathimerini.com.cy/en/news/stolen-masterpiece-emerges-in-lancashire-after-60-years
A painting stolen from a New York gallery 60 years ago in a daring $1 million heist has turned up 3,300 miles away in Lancashire....
https://knews.kathimerini.com.cy/en/news/hellenic-bank-rakes-in-€240-7m-in-2023-s-first-9-months
Hellenic Bank announced on Tuesday a profit of €240.7 million for the first 9 months of 2023....
https://knews.kathimerini.com.cy/en/news/creditors-dispute-foreclosure-laws-and-strategic-defaults
Creditors reluctantly agree to extend the freeze on main residence foreclosures up to €350k, but tensions arise over proposed legislative changes....
https://knews.kathimerini.com.cy/en/business/eurozone-economic-snapshot-november-13-2023
Inflation in the Eurozone, which stood at 10.6% in October 2022, has decreased to 2.9% in October 2023, sparking optimism among central bankers....
https://knews.kathimerini.com.cy/en/news/elizabeth-mccaul-unveils-hidden-financial-dangers
A strong signal highlighting the need for closer scrutiny of non-bank financial institutions comes from Frankfurt, as Elizabeth McCaul, a member of the European Central Bank's Supervisory Board, emphasizes the potential risks....
https://knews.kathimerini.com.cy/en/news/will-foreclosures-plague-2023
There is a race against time, with only a few weeks left to address the issue of foreclosures and enhance the framework....
https://knews.kathimerini.com.cy/en/news/cyprus-institute-s-contribution-to-esa-s-earth-explorer-space-mission
Researchers from the Cyprus Institute’s Climate and Atmosphere Research Center (CARE-C), coordinated by Professor Franco Marenco, are actively involved with the European Space Agency’s (ESA) upcoming EarthCARE satellite mission, focused on cloud, aerosol and radiation exploration....
https://knews.kathimerini.com.cy/en/news/fitch-upgrades-hellenic-s-long-term-rating-to-bb-with-stable-outlook
In a recent announcement, Fitch Ratings raised Hellenic Bank's long-term rating from "BB-" to "BB+" and assigned a stable outlook to the bank. The agency also upgraded the bank's Viability Rating (VR) to "bb+" from "bb-."...
https://knews.kathimerini.com.cy/en/news/the-beatles-now-and-then-surprises-fans-with-a-release
George Harrison originally disliked it; fans had long assumed it would never be released. But the “final” song by the Beatles, Now and Then, is being released at 2pm GMT, an unexpected last flourish for arguably the UK’s greatest band....
https://knews.kathimerini.com.cy/en/news/no-foreclosures-on-first-homes-until-the-end-of-2023
In a development concerning foreclosures, four months after the summer 2023 decisions, the data remains unchanged. Banks and credit redemption companies have been urged to provide a two-month grace period for first homes and properties up to 350 thousand euros. ...
https://knews.kathimerini.com.cy/en/news/healthcare-ethics-scrutinized-as-concerns-arise-over-dual-practice-doctors
Recent speculations have emerged regarding doctors affiliated with the General Healthcare System (GESY), primarily in surgical specialties, who are reportedly providing services in hospitals and clinics outside of the GESY framework....
