Search

1411. Finance Minister considers lowering VAT rates for basic necessities

The Minister of Finance of Cyprus, Makis Keravnos, has announced that the Ministry is considering measures for banks and credit-acquiring companies to absorb high-interest rate increases, as well as reducing value-added tax (VAT) for basic necessity products to tackle high prices....

1412. Nicosia launches special unit to sift through sanctions

No derogation from EU sanctions will be tolerated, President of the Republic Nikos Christodoulides stressed on Wednesday during a meeting at the Presidential Palace on the sanctions imposed by the US and the UK against natural and legal persons from Cyprus. The President was also informed about the procedures to establish the National Sanctions Implementation Unit...

1413. Finance Minister requests containment of lending rates for housing loans

The Finance Minister of Cyprus, Makis Keravnos, has written letters to the Director General of the Cyprus Banks Association and the Director General of the Association of Credit Acquisition Companies and Credit Facility Managers, requesting measures to control rising lending rates for serviceable loans up to €350,000....

1414. Politics blog: Moscow on the Mediterranean

While some talk behind our backs, The Guardian is unabashedly labeling our country, especially our banking system, as the "Moscow of the Mediterranean". ...

1415. Numerous foreclosure sales expected in 2023 and 2024

The COVID-19 pandemic and the subsequent suspension of divestments since 2020 have led to the creation of a considerable volume of properties for disposal that banks and credit purchase companies have on their balance sheets....

1416. Ideal real estate investment opportunities for sale by AstroBank

Commercial, industrial, and residential listings in various districts...

1417. Whistleblower suspicious of Biden's Cyprus trip in 2014

A former White House stenographer is accusing US President Joe Biden of committing crimes a decade ago in connection with Ukraine and Cypriot-registered gas company Burisma, while also raising suspicions over a private dinner in Limassol back in 2014...

1418. Cypriot banks dump Russian client accounts

Russian nationals in the Republic of Cyprus are facing bank account closures as the island’s financial institutions are choosing to axe client accounts to avoid sanction violation risks, but some fear an indiscriminate sweep may affect innocent customers...

1419. Assets of US and UK sanctioned entities in Cyprus will be frozen

Cypriot individuals and entities included in UK and US sanctions list will see their assets in the Cypriot banking system frozen and will not be able to carry out any banking transaction in Cyprus, Marios Skandalis, Chief Compliance Officer of Bank of Cyprus, the island’s largest lender has said....

1420. BOC to pay dividends after 12 years

The Bank of Cyprus is the first bank in Cyprus and Greece to receive approval from the European Central Bank (ECB) to pay dividends. The lender is expected to resume paying dividends to its shareholders after 12 years....

1421. Nicosia scrambles to protect brand after sanctions incident

President of Cyprus Nikos Christodoulides convened an extraordinary meeting on Thursday following the inclusion of Cypriot natural and legal persons in the lists of the latest sanctions published on Wednesday by the United States of America and the United Kingdom...

1422. Holy light to arrive in Cyprus on Holy Saturday

The Holy Light is set to arrive in Cyprus from Jerusalem on Holy Saturday afternoon and will be distributed to remote areas across the island with the help of the Bank of Cyprus SupportCY volunteer corps and the United Bikers of Cyprus, according to a press release from the Bank of Cyprus....

1423. Three major concerns of ECB regarding Cypriot banks

Although Cypriot banks have made great progress over the last decade, foreign supervisors have reservations and summarise their concerns in three areas....

1424. 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....

1425. Rome reportedly okays Lukoil sale to Cypriot firm

Italy gave conditional approval on Tuesday to the sale of the Lukoil-owned refinery in Sicily to Cypriot private equity firm GOI Energy, people familiar with the matter told Reuters...

1426. IMF projects steady GDP growth for Cyprus in 2023

The International Monetary Fund (IMF) maintained its projection for Cyprus’ economic growth in 2023 at 2.5% of GDP, while real GDP growth is expected to pick up pace in the next year....

1427. FBI warns against using free mobile charging stations

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

1428. Houses for sale by AstroBank

Ideal as holiday homes, primary residences, or as an investment...

1429. Are you ready for ChatGPT to take over your job?

Since its release in November of last year, OpenAI's ChatGPT has been used to write cover letters, create a children's book, and even help students cheat on their essays....

1430. President walks the talk in fight against cancer

Cyprus President Nikos Christodoulides kicked off the 48th Christodoula march to raise awareness against cancer, vowing that his government will continue to be present in the longest-ever running campaign to ease human suffering on issues associated with cancer, supporting the efforts of the Cyprus Anti-Cancer Society...

1431. Cypriots buy more food than needed

A recent report has found that Cypriots have a tendency to purchase more food than they actually need, leading to unnecessary waste and higher expenses...

1432. What is the future for banks?

Banks have suffered significantly in the last 15 years. Some have been forced to shut down, while others had to reduce deposits. In some countries, banks have been subject to capital controls, and many have had to change their shareholder structure due to state intervention....

1433. Philip Lane: Next ECB decisions on interest rates will be based on data (Video)

Philip Lane, the Chief Economist and member of the European Central Bank's (ECB) executive board has said the bank's next monetary policy decisions will be based on incoming data,...

1434. 'Significant progress' of Cypriot economy noted by ECB chief economist

Philip R. Lane, member of the Executive Board and Chief Economist of the European Central Bank (ECB) said he is pleased to witness the significant progress of the Cypriot economy....

1435. Investors flock to 'green' bonds as a secure investment

1436. Inside the high-stakes prosecution of a former president

Former U.S. President Donald Trump has made history by becoming the first president to face criminal charges before a court of justice in the United States. ...

1437. Cyprus raised 1 billion with a 10-year sustainability bond

Cyprus has raised €1 billion through its first-ever 10-year sustainable bond, which saw demand exceed supply by 12.5 times. The bond yielded 4.20% and will finance a range of "green" and social projects,...

1438. Cypriot professor Phoebe Koundouri honored for contribution to Science

On Thursday, the 23rd of March, Prof. Phoebe Koundouri was awarded the Academy of Athens Excellence in Science Award 2023 for her contribution to the advancement of the Science of the Marine Environment by the President of the Academy of Athens, Michael-Konstantinos Stathopoulos, and the Secretary-General, Christos Zerefos....

1439. Passports of Russian officials confiscated to prevent overseas escape

A Soviet-style practice is being resorted to by Russia's security services, confiscating the passports of senior officials and executives of state-owned companies to prevent travel abroad, as "paranoia about leaks and defections spreads in Vladimir Putin's regime," reports the Financial Times....

1440. 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....