Search

1411. North plays catch-up with illicit cash

Turkish Cypriot authorities have their hands full as they investigate large sums of money being laundered in Cyprus, with cases ranging from probing courier operations south of the divided island’s UN buffer zone to media speculating on the scope of rampant tax evasion in the north...

1412. President signs controversial foreclosure law

A controversial foreclosure bill has been signed into law in the Republic of Cyprus over the objection of the country’s finance minister who accused lawmakers of populism...

1413. RICS Cyprus Property Price Index with KPMG in Cyprus announces results of Q2 2022

KPMG in Cyprus announces that the ''RICS Cyprus Property Price Index with KPMG in Cyprus'' has been issued for Q2 2022....

1414. Turkish inflation surges to nearly 80%

Turkish inflation rose to a fresh 24-year high of 79.6% in July, data showed on Wednesday as the lira’s continued weakness and global energy and commodity costs pushed prices higher, though the price rises came out below forecasts....

1415. Deposit interest rates remained close to zero levels in June

Deposit interest rates remained at close to zero levels in June with lending rates showing small variations, according to data released on Tuesday by the Central Bank of Cyprus (CBC)....

1416. Inside JP Morgan's precious metals division: The salaries and bonuses of the golden boys

The trial of the former head of precious metals at JP Morgan Chase, which has been in full swing since Friday, provides a sneak peek into the world of exchanges and the pay for its employees....

1417. CBC: Noticeable decrease in household and business debt

Business and household debt in Cyprus reached €56.2 billion in the first quarter of 2022, according to data from the Central Bank of Cyprus....

1418. Cyprus tourism rebounds despite lack of Russian tourists

Beside sparkling Mediterranean waters at the Cypriot resort town of Ayia Napa, the bars are bouncing with foam dance parties as tourist numbers rebound following two tough years of the pandemic....

1419. Russia sending money to Turkey for the $20 Billion Akuyo nuclear plant

A Russian state-owned company is transferring money to a subsidiary that’s building a $20 billion nuclear power plant on Turkey’s Mediterranean coast, alleviating concerns the project could be delayed by war sanctions....

1420. Cyprus’ church wars over Ukraine quiet down

Cyprus' Tamasos metropolitan bishop Isaiah, a top contender for the archbishopric throne who fell out of favor with Archbishop Chrysostomos, traveled to Istanbul this week with the primate’s blessing, a possible signal that the island’s ugly church split over Ukraine was drawing to a quiet close ahead of possible elections...

1421. 550 employees leave Bank of Cyprus

The Bank of Cyprus announced the successful completion of a voluntary staff retirement plan. Through the Plan, approximately 550 employees have been approved for severance, ...

1422. Consulco’s London Credit Fund keeps making 4% p.a. for its Euro investors

Consulco’s London Credit Fund has been reaching and exceeding its annualized target return of 4,00% on Euro since its inception. ...

1423. ECB raises interest rates .5%, with further rate hikes on the horizon

The European Central Bank (ECB) increased interest rates by more than expected on Thursday, raising its benchmark deposit rate by 50 basis points to zero percent, impacting the Cyprus banking system and local borrowers....

1424. ECOMMBX earns Great Place to Work® Certification

ECOMMBX is proud to announce that it has earned the coveted Great Place to Work® Certification with flying score, which is likely to be among the top – if not the highest – scores for this year....

1425. Italy's PM resigns spelling trouble for Europe

Italian prime minister Mario Draghi has resigned, ending a national unity government formed to tackle unpopular reforms and spelling trouble for Europe at a time of acute economic challenges....

1426. ECOMMBX receives the prestigious Ιnvest Cyprus International Investment Award

On 1 July 2022, at the 10th Ιnvest Cyprus International Investment Awards ceremony at the Parklane Spa & Resort in Limassol, under the auspices of the President of the Republic, Nicos Anastasiades. ...

1427. Sri Lankan president flees country amid devastating economic crisis

Sri Lankan President Gotabaya Rajapaksa fled the country on Wednesday and hundreds of protesters stormed the prime minister's office demanding his ouster, as a people's uprising over a devastating economic crisis overwhelmed security forces....

1428. FANEROMENI22 - Band Macumba

1429. The Digital Agenda Cyprus Summit returns on October 18, 2022

Digital Agenda Cyprus Summit 2022 is set for October 18, 2022....

1430. Cyprus makes Russophobia list in Moscow report

Cyprus was among countries listed in a Moscow report on attacks and discrimination against Russians living abroad, with allegations on the island ranging from bullying in schools to stalking, threats of violence and financial sanctions...

1431. Dutch to make working from home a legal right

The Netherlands is on the cusp of making working from home a legal right in a radical move that experts say could be followed across Europe....

1432. Boris Johnson has stepped down

After an acute political meltdown in the U.K., Prime Minister Boris Johnson has resigned as leader of the Conservative Party, setting in motion a race for a new prime minister....

1433. A total of €362.9 million euros in new loans recorded in May

A total of €362.9 million euros in new loans were recorded in May, according to data released by the Central Bank of Cyprus on Tuesday. The increase in new loans is mainly due to both an increase in loans for over €1 million and loans for the purchase of homes....

1434. Kea opens spectacular shipwreck dive sites

Jacques-Yves Cousteau would probably have been surprised to learn that the wreck of the World War I Britannic (the sister ship of the legendary Titanic) he discovered in 1975 off southwestern Kea would be listed as an underwater historical site almost 50 years later, becoming one of a handful of such marine parks in the world. ...

1435. Al Jazeera reporter likely killed by unintentional Israeli gunfire

Al Jazeera journalist Shireen Abu Akleh was likely killed by unintentional gunfire from Israeli positions, but independent investigators could not reach a definitive conclusion about the origin of the bullet that struck her, the U.S. State Department said on Monday....

1436. Bank of Cyprus offering voluntary retirement plans for up to 600 employees

The Bank of Cyprus is offering a Voluntary Retirement Plan to 500 - 600 employees of its employees in the hopes that it can reduce its number of employees in order to maintain profitability. ...

1437. Herodotou: 'Interest rates should be increased gradually'

The Governor of the Central Bank of Cyprus, Constantinos Herodotou, said he was in favor of the ECB gradually increasing key interest rates while keeping its options open, stressing that the European Central Bank should consider the impact of each increase and act accordingly....

1438. Credit Suisse guilty of money laundering

Credit Suisse has been found guilty and fined for involvement in money laundering related to a Bulgarian drugs ring....

1439. Russia defaults on foreign debt for the first time since 1918

Russia has defaulted on its foreign debt for the first time in more than a century as the country can't pay creditors due to sanctions over the war in Ukraine, according to media reports. ...

1440. EU leaders tackle inflation, energy shocks from Russia’s war

A day after endorsing Ukraine’s candidacy to join the European Union, the bloc’s leaders turned their attention Friday to the severe economic turbulence looming over the coming months as the full impact of Russia’s war sinks in and the threat of recession rises....