Search

31. Global fintech investment falls to seven-year low of $95.6 billion in 2024, but uptick in Q4’24 is a sign of cautious optimism says KPMG’s Pulse of Fintech H2’24

2024 was another difficult year for fintech, with just $95.6 billion of investment globally across 4,639 deals....

32. Fintech giants eye Cyprus' small banks in race for European banking licenses

Cyprus’ small banks have become prime targets for global fintech companies and financial institutions, with potential acquisitions aimed at securing a European banking license. ...

33. Private company constructs power plant in Mari without permits

A private company has built key infrastructure to support the operation of a privately owned power plant in Mari without obtaining the necessary permits, according to a special report by the Audit Office....

34. Cypriot businesses set their sights on the U.S.

For the first time, a Cypriot business delegation will participate in the SelectUSA Investment Summit and SelectUSA Tech Summit, two major investment events in the United States aimed at companies looking to enter or expand in the U.S. market....

35. One in three short-term rental accommodations is illegal

36. Bank of Cyprus posts €508M profit for 2024

Bank of Cyprus has posted impressive results for 2024, reporting net profits of €508 million, marking a 4% increase from the previous year’s €487 million. The results reflect the bank's strong performance and growth, despite slight fluctuations in some areas....

37. €8 million and counting as Crete-Cyprus interconnector delays pile up

The long-awaited electricity interconnection between Crete and Cyprus is facing mounting financial pressure, with delays already adding at least €8 million in extra costs....

38. NASDAQ-listed Freedom24 is making its mark in Cyprus and beyond

When Timur Turlov, the CEO of Freedom Holding Corp., set his sights on Cyprus, he saw more than just a financial hub—he saw opportunity. In a market where fintech companies are staking their claims, ...

39. European Parliament seeks Cypriot administrators

In a significant move to address imbalances in staff representation, the European Parliament has launched a competition aimed specifically at Cypriot nationals....

40. Illegal construction in Latchi sparks legal battle

A brewing scandal in Latchi has exposed significant irregularities in the construction of a tourism project, placing local authorities and developers under scrutiny. ...

41. Eurobank sells €27M stake in Demetra Holdings

In a significant financial move, Eurobank announced the completion of the sale of its 8.58% stake in Demetra Holdings Plc to Logicom Services Limited. The deal, finalized on January 16, 2025, involved the sale of 17,152,353 shares at €1.55 per share, totaling approximately €27 million....

42. Unions push back on new foreign worker rules

Trade unions are clashing over the proposed framework for regulating the employment of workers from third countries. ...

43. AI to shake up banking putting thousands of jobs at risk

The global banking industry is bracing for a seismic shift as artificial intelligence (AI) continues to revolutionize the sector. A recent study by Bloomberg Intelligence predicts that up to 200,000 jobs in banking will be eliminated over the next three to five years as AI takes over tasks currently performed by employees....

44. 2025: A new chapter for Cyprus’s property market

2024 was both literally and figuratively a leap year. Metaphorically speaking, we anticipated this shift a year ago as we reflected on 2023 and made our predictions for the year ahead....

45. Cyprus & Greece Market Overview: 2023-2024 and Projections for 2025 and Beyond

The market underwent significant changes from mid-2023 onwards due to several global and regional factors....

46. Cyprus risks losing grip on 'interconnector' amid French power move

A reported agreement between Greece’s ADMIE and French investment fund Meridiam could alter the energy landscape of the Eastern Mediterranean, especially for Cyprus....

47. Cyprus' biggest corruption cases head towards a verdict in 2025

The Independent Anti-Corruption Authority is gearing up for a pivotal 2025, with several high-profile investigations nearing their conclusions....

48. Cattle farmers develop system to verify milk origin in halloumi production

The Pancyprian Organisation of Cattle Farmers (POCF), in partnership with a UK-based private laboratory, has introduced a certified method to determine if Cypriot milk is used in halloumi cheese production....

49. Elon Musk becomes first person to achieve a $400 billion net worth

Elon Musk, the world’s richest person, has reached an unprecedented milestone: a net worth of $400 billion, according to Bloomberg....

50. Moody’s Nick Hill on financial risks and opportunities for 2025

In an insightful conversation with Kathimerini's Panayiotis Rougalas, Nick Hill discusses the key macroeconomic risks and opportunities facing the region in 2025....

51. Geopolitical turbulence presents a looming threat to 2025 economic growth

Speaking at the 20th Economist Conference in Nicosia, Nick Hill highlighted the macroeconomic and geopolitical challenges shaping the global financial environment....

52. 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....

53. AI in Finance: Embrace the Future or Be Left Behind

Technology is changing how we do everything, and finance is no different. ...

54. Affordability, Urbanization, and Sustainability: How Real Estate in Cyprus, Greece, and Romania Will Evolve by 2029

The next five years will redefine the real estate markets of Cyprus, Greece, and Romania....

55. Cybersecurity and ICT risks emerge as leading drivers of operational risk

Geopolitical tensions have significantly increased operational risks, particularly in the areas of cyber and digital threats, as well as risks related to money laundering and sanctions compliance....

56. Eurobank’s €1.2 billion investment in Cyprus signals confidence

According to Kathimerini's Panayiotis Rougalas, Eurobank has made significant strides in its investment in the Cypriot banking sector, particularly with its ongoing acquisition of Hellenic Bank....

57. Eurobank acquires full control of Hellenic Bank

Eurobank has taken a significant step in consolidating its presence in Cyprus, announcing the acquisition of a controlling stake in Hellenic Bank, according to a report by Panyiotis Rougalas....

58. Cyprus' Anti-Corruption Authority's major investigations near completion

The Independent Anti-Corruption Authority of Cyprus is making waves as it tackles high-profile investigations into alleged corruption, including the controversial ''gold passports'' scheme, claims of a ''state mafia,'' and other issues....

59. Cyprus faces multi-million Euro losses as major development projects collapse

Cyprus is facing significant financial and logistical challenges following the abrupt termination of contracts for major infrastructure projects, with some cases likely to lead to costly legal battles....

60. Bank of Cyprus reports €401 million profit surge

In the latest financial report, Bank of Cyprus has reported a solid profit of €401 million for the first nine months of 2024—a 15% jump from last year’s €349 million. ...