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871. Wolfgang Schäuble, former German Finance Minister, dies at 81

Wolfgang Schäuble, the influential former German Finance Minister and speaker of the Bundestag, passed away at 81, leaving a profound mark on European financial affairs....

872. As 2023 ends, banks and unions lock horns on pay structures

The banks and bank employees' unions are at odds over labor issues and the signing of new collective agreements. As we approach the end of 2023, no significant progress has been made in renewing collective agreements during the outgoing year....

873. Cyprus housing crisis deepens amid interest rate scandal

With current interest rates, the prospect of repaying a mortgage spans nearly fifty years for an average family, turning homeownership into an elusive dream....

874. 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. ...

875. Israel should be alarmed

Israel faces the risk of losing the support of its traditional allies, as well as the perception of invincibility, both of which are crucial for a relatively young state confronting existential threats....

876. 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....

877. Bank of Cyprus expands with €58M loan acquisition

Agreement for the Acquisition of a Performing Loan Portfolio. ...

878. AG appeals ruling holding state liable for 2013 Laiki Bank ''haircut''

The Attorney General of the Republic of Cyprus has filed an appeal challenging a decision by the Limassol District Court dated November 8, 2023....

879. President launches state-sponsored arts opportunities for youth

President Nikos Christodoulides announced the initiation of the much-anticipated youth culture card, marking a significant step towards supporting the arts and engaging young minds in the cultural richness of Cyprus. ...

880. The unforgettable night of Epic Xmas Street Fest

Last Sunday evening, December 17, Makarios Avenue in Nicosia witnessed a festive extravaganza as Epic Street Fest - The Xmas Edition took center stage at Spyridakis Square (360 building). ...

881. 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....

882. Cyprus and the porn industry: High-tech hub exposed

For many years, the Republic of Cyprus, due to its art visa law, served as a hub for white flesh trafficking....

883. 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. ...

884. 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. ...

885. European data shows low interest payouts by Cypriot banks

Cypriot banks rank second to last among European banks in terms of paying interest on total household deposits, according to data released on Wednesday by the European Banking Authority (EBA), as part of its annual risk assessment of the European banking system....

886. One to three-star hotels dominate Greece’s accommodations

Three in four Greek hotels belong in lower categories of one to three stars, representing 50% of the country’s total capacity in terms of rooms, according to data from the Institute of Tourism Research and Forecasts (ITEP) of the Hellenic Chamber of Hotels....

887. 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. ...

888. Chinese elite move billions abroad in economic shift

In a remarkable shift this year, affluent Chinese have moved hundreds of billions of dollars out of the country, capitalizing on the end of COVID precautions that had tightly sealed China's borders for nearly three years....

889. BOC to revitalize former Orphanides building by 2026

Thoughts from the past year and a half are taking concrete form for the Bank of Cyprus, particularly concerning its plans for the creation of a new central headquarters (BOC Headquarters - Q H)....

890. Epic Xmas Street Fest: Nicosia transforms into a foodie wonderland!

Prepare for Epic Xmas Street Fest! Join Epic and Deejay Radio 93.5 for a festive extravaganza on Makarios Avenue, Spyridakis Square (360 building) in Nicosia this Sunday, December 17, from 6:00 PM to midnight....

891. Biden: Playing into Putin's hands on Ukraine aid threat

In a bold statement, President Joe Biden minced no words as he warned Republicans about unwittingly aiding Russian President Vladimir Putin....

892. AstroBank: Residential and commercial properties for sale

AstroBank is selling residential and commercial properties in various areas of Cyprus such as Larnaca, Paphos and Nicosia....

893. Billionaire's great escape? Kolomoiskyi's Cyprus flight sparks alarm

In a twist of legal intricacies, Ukrainian authorities are on high alert following the release of billionaire oligarch Ihor Kolomoiskyi. ...

894. Is the digital Euro the ECB's game-changer or a banks' ally?

The digital euro would not be a threat to the role of banks as financial intermediaries, Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) and ECB Governing Council member, has said, stressing that the digital euro will be issued and guaranteed by the ECB and not at the level of the member state....

895. Surge in bounced checks worth €1.6 million in 2023

896. Cypriot bonds hold firm at €6.75 billion amid ECB moves

As of the end of November, data from the Cypriot Central Bank reveals that the Eurosystem maintained its holdings of Cypriot bonds valued at €6.75 billion...

897. 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. ...

898. 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?...

899. Stylianou's pledge to battle cancer alone at Man of the Year Awards

In a testament to resilience and the strength found in adversity, Petros Stylianou triumphed over a challenging bout with cancer, reshaping his life's purpose to champion those facing a similar ordeal....

900. Meet ''Man of the Year Alex Michaelides''

The renowned Greek Cypriot author, Alex Michaelides, was honored with the Man of the Year and International Cypriot awards at the 22nd Bank of Cyprus Man of the Year Awards 2023 ceremony on December 7....