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541. Greek government to sell its stake in Piraeus Bank, anticipates high demand

Greece will proceed with the complete divestment of the state from Piraeus Bank with the disposition of the 27% it controls through the Hellenic Financial Stability Fund (HFSF)....

542. Phone ringing, debt ignored: Cyprus faces loan repayment hurdles

Despite efforts to reduce Non-Performing Loans (NPLs) in Cyprus, the lingering burden continues to weigh heavily on the country's economy and society....

543. Residential land for sale by AstroBank

AstroBank is selling land, which is ideal for development in various areas of Cyprus such as Nicosia, Famagusta, Paphos....

544. Cyprus economy 2024: Ktrends reveals challenges and successes

Delving into the latest findings from the 6th wave of ''Ktrends'' research by ''Kathimerini'' newspaper unveils a multifaceted picture of Cyprus's economic landscape in January 2024. ...

545. Putin detains US ballerina for alleged $51 high treason

Vladimir Putin's Federal Security Service has detained Ksenia Karelina, a dual Russian-American ballerina, on suspicion of treason, officials reported Tuesday....

546. EC approves interest subsidy scheme for housing loans

In a significant development, the European Commission's DG Competition has approved an interest subsidy scheme aimed at housing loans in Cyprus....

547. Cyprus emerges as key hub for EMC project with $300 Million Funding

The EMC cable aims to connect Europe with Saudi Arabia, with construction slated to begin in the summer of 2024...

548. Cyprus adapts to changing seas

In response to European sanctions on Russian shipping companies based in Cyprus and developments in the Mediterranean and the Red Sea, Cyprus is actively seeking to attract new companies from different markets....

549. Bank of Cyprus posts nearly half a billion euro profit in 2023

Bank of Cyprus reported a robust profit of €487 million for the fiscal year 2023, as announced by Group CEO Panicos Nikolaou during the presentation of the bank's financial results....

550. 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....

551. Netanyahu's party divided over US-Arab peace initiative for Gaza

Reports of a joint US-Arab peace plan for Gaza, including a "tight timeline" for establishing a Palestinian state, have stirred strong reactions among Israeli Prime Minister Benjamin Netanyahu's far-right allies. ...

552. Cyprus development expenditure: 2023 surpasses €1B

The realization of state budget development expenditure in 2023 reached 72% compared to 70% in 2022 and the average of 69% over the last decade, according to a Treasury report released on Wednesday....

553. Department faces 2,000 backlogged refugee applications due to understaffing

In February 2024, the Service for the Care and Rehabilitation of Displaced Persons (YMAPE) revealed a backlog of 2,000 pending applications, citing understaffing issues. ...

554. Spanish banks wary of Cypriot student accounts

The impact of Cyprus being deemed a high-risk destination continues to reverberate even in European Union countries, with remnants of its troubled past lingering....

555. AstroBank: Residential and commercial plots land for sale

AstroBank is selling residential, as well as commercial plots in various areas of Cyprus in the districts of Nicosia, Larnaca, Famagusta, and Paphos....

556. Cyprus to roll out 10-second euro transfers across banks

Over the next 18 months, Cyprus is poised to revolutionize money transfers, promising seamless transactions within 10 seconds from bank to bank....

557. Government grapples with energy project crisis

The firm spearheading one of the Republic of Cyprus' most ambitious energy ventures, Terminal F.P. at Royal, finds itself grappling with challenges that threaten its completion....

558. Parliament passes law to remove property restrictions in Occupied Areas

In a unanimous decision, the Plenary Session of the Greek Parliament passed a law abolishing the right of encumbrance of ''memorandum'' on properties held by banks and credit acquisition companies, located in the occupied territories. ...

559. Turkish Cypriot lawyer released on bail pending trial

Akan Kürşat, a Turkish Cypriot lawyer extradited by Italian authorities on charges of usurping Greek Cypriot property in the occupied territories, has been released on conditions pending his case hearing on February 29 at 10:30 am....

560. Nicosia senior swindled of €480,000 in cryptocurrency scam

In a disturbing turn of events, a 73-year-old resident of Nicosia has fallen prey to a sophisticated internet fraud scheme, resulting in a substantial loss of over €480,000 in a cryptocurrency scam....

561. Investigation urged as state contracts lead to €6.4M payout

In a recent address, Deputy Dipa Alekos Tryfonidis called attention to questionable agreements, urging an investigation into the responsible parties behind a contract resulting in a hefty 6.4 million euros compensation payout....

562. Cabinet moves forward with plan to support Cyprus entrepreneurs

Cyprus is gearing to set up a National Development Organisation which coupled with the Cyprus Equity Fund will promote entrepreneurship by covering financing gaps for small and medium-sized enterprises and start-ups, Minister of Finance Makis Keravnos said on Wednesday....

563. Moody's sees positive shift in Cyprus economy

In a webinar panel discussion hosted by the Cyprus Economic Society, Haiko Peters, Vice President and Senior Analyst at Moody's Sovereign Risk Group, emphasized sustained improvements in the Cypriot economy....

564. Putin and Erdogan set to explore Russian-Turkish bank formation

Moscow and Ankara are set to discuss the establishment of a bank serving Russian and Turkish interests, among other topics, during the upcoming week, according to the Kremlin....

565. European Central Bank considers rate cut, Spanish Governor suggests

The European citizens should know that that the European Central Bank’s next move will be a rate cut, Governor of the Bank of Spain and ECB Governing Council member......

566. Curbing food waste for a greener tomorrow

Food waste poses a pressing issue requiring attention, contributing to uncontrolled food production and straining natural resources. Humans, as the predominant species on the planet, occupy a significant portion of land for food production....

567. Bank of Spain governor to engage in economic talks with Cyprus officials

568. Biden praises job growth, declares US economy 'strongest in the world'

President Joe Biden lauded the robust jobs report released on Friday, touting it as evidence of the United States possessing the world's strongest economy....

569. Biden enacts sanctions against Israeli settlers in West Bank

The executive order issued by President Joe Biden on Thursday targets Israeli settlers accused of violence against Palestinians and Israeli peace activists in the West Bank....

570. Nicosia's boutique hotel scene flourishes amid tourism surge

Seeking accommodation in a hotel in Nicosia for February, the search yields 22 options. Narrowing the search by distance from the city center results in fewer choices, yet still satisfactory. Twelve boutique units, primarily small boutique hotels, emerge from the search on booking.com....