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1. €26,340 in bounced checks in March

In March 2024, a total of 15 bad cheques, amounting to €26,340, were issued, with 6 individuals (5 legal entities and 1 natural person) being listed in the preliminary registry of the Central Information Register (CIR) for dishonoured cheques. ...

2. February's financial flaws expose 16 bad checks, €19,388 lost

In February 2024, a total of 16 bad cheques, amounting to €19,388, were issued, with 9 individuals (7 legal entities and 2 individuals) being listed in the preliminary registry of the Central Information Register (CIR) for dishonoured cheques....

3. Dr. Anastasatos forecasts bright future for Cyprus economy

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....

4. US Ambassador discusses Cyprus and Russian influence in exclusive interview

In an exclusive interview with Kathimerini, the U.S. Ambassador to Cyprus weighs in on whether the island nation's ties to Russian influence are changing. ...

5. Themis Themistocleous 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. ...

6. What about the day after in Gaza? What about the days before?

A colleague of mine asked me the other day a very interesting question. Let's assume, he said, that Israel does manage to destroy Hamas somehow. What's the use? Will it not be revived otherwise in a few years time?...

7. Abraham’s Tinderbox

I’ll begin by clearly condemning Hamas and its terrorist thugs and express grief at the horrors inflicted on innocent Israeli civilians on 7 October....

8. 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....

9. Babies among 12 dead in Israel-Hamas fuel dispute

Hamas has denied refusing an offer of fuel from Israel for Gaza's biggest hospital, which the World Health Organisation says is "not functioning" due to bombing and gunfire....

10. Rising number of bounced checks a growing concern

A total of 36 bad cheques, worth €566,732, were issued in October 2023, with 21 persons (14 legal entities and 7 natural persons) being registered in the preliminary list of the Central Information Register for the Issuers of Dishonoured Cheques (CIR), maintained by the Central Bank of Cyprus (CBC)....

11. Cyprus banks bracing for profit squeeze according to Moody's

Moody's believes that Cyprus' small and saturated banking sector, the banks' limited loan portfolio, and low fee and commission income will restrict opportunities for growth in domestic banks' activities and profitability in the long term....

12. Key economic issues dominate the headlines

Despite various actions taken and a decrease in inflation, there are worries about the central bank's ability to achieve its goals. Some experts suggest that the target of 2% price growth, ...

13. AI enhancing work-life balance, 100-year careers

JPMorgan CEO Jamie Dimon is shaking off doomsday predictions about what AI means for humanity — instead laying out how he sees the technology vastly improving businesses and the work-life balance of their employees....

14. US plane brings captives back home

The plane carrying five American citizens freed as part of a deal between the U.S. and Iran have now landed back home in the United States....

15. Is Cyprus banking sector heading for a shake-up?

The Cypriot banking sector is in trouble, and it looks like Eurobank is on the verge of acquiring Hellenic Bank. Meanwhile, Astrobank and CDB Bank's relationship has shifted from a "flirtation" to an "appointment."...

16. Stunning Loch Ness monster photos emerge after years in secrecy

New images of a “serpent” creature claimed to be the Loch Ness Monster have been hailed as the “most exciting ever” of the mythical beast....

17. NPL crisis highlights tug of war between borrowers and legislation

The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...

18. Eurobank's vision: Controlling Hellenic Bank and conquering new markets

According to Bloomberg, Eurobank's deputy chief executive, managing director, and head of international operations, Stavros Ioannou, expressed the bank's desire to eventually gain full control of Hellenic Bank in Cyprus....

19. Parliament approves foreclosure law

A significant mobilization by the Government and the Central Bank of Cyprus took place this week regarding the framework of foreclosures, primarily to withdraw the "problematic" proposal that, according to the state and banks, would have negative consequences for the Cypriot economy....

20. Office space, shops, and commercial land for sale by AstroBank

21. Non-compliance with US sanctions bad says CBC Governor

No impact to financial stability has been recorded so far by the US and UK sanctions against Cypriot persons and entities for assisting Russian sanctioned nationals apart from Cyprus’ credibility, Governor of the Central Bank of Cyprus Constantinos Herodotou said on Wednesday, noting that non-compliance would pose 'very negative consequences to the economy'...

22. Greek banks freeze mortgage installments for 12 Months

Eurobank, Piraeus and Alpha Bank have announced that they will be keeping mortgage installments at their current levels for 12 months. As pledged by the first two banks, the baseline rates of serviced mortgage loans will remain at the levels they were on March 31, 2023, minus 20 basis points, for 12 months, starting in May. National Bank is expected to follow suit....

23. FBI warns against using free mobile charging stations

The FBI is warning people to steer clear of free cell phone charging stations....

24. Prem Watsa: 'Greek banks are safer'

Greece has entered a virtuous cycle of growth, and the next few years will be especially beneficial to the economy and Greeks if political stability is maintained and business-friendly policies are implemented....

25. FinMin stresses importance of stable legislation for out-of-court auctions

The Finance Ministry has stressed the importance of having stable legislation regulating out-of-court auctions, in tandem with an effective insolvency framework in order to achieve a reduction of bad loans....

26. Credit Suisse borrows more than $50 billion from Swiss National Bank

Credit Suisse’s shares soared 30% on Thursday after it announced it would move to shore up its finances by borrowing up to nearly $54 billion from the Swiss central bank, bolstering confidence as fears about the banking system moved from the U.S. to Europe....

27. Criticism grows as Europe pushes to restrict cars in cities

In an effort to ease traffic congestion and curb greenhouse gas emissions causing climate change, municipalities from Barcelona to Brussels have embarked on what has been called a “transportation revolution.”...

28. Bad luck can't always be held responsible

“It was an unfortunate moment,” the stationmaster in the deadly train crash is said to have claimed. How many times has the inadequacy and failure of the broader Greek state mechanism been hidden behind such phrases? Sometimes it is blamed on “bad luck,” at others, it is dismissed with “That’s Greece.”...

29. 2023 will be the year banks dole out dividends

Apart from entering 2023 with inflationary tendencies and following a year with a geopolitical crisis due to the Ukrainian one, it is expected to be the year when the term "dividend distribution,"...

30. Guarantor wants off the hook over old bad loan

Cyprus’ financial commissioner came to the rescue of a loan guarantor who says he should not have to pay anything because a former credit union had failed to send him default notices 'without delay' concerning non-payment by the primary beneficiary...