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1471. The visionary leader of Pafilia wins at the prestigious Bank of Cyprus Man of the Year Awards

Pafilia founder and CEO, Mr Elias Eliades has been awarded a prestigious honor at the 21st Bank of Cyprus MAN OF THE YEAR Awards, with the title of Best Manager / Entrepreneur....

1472. November Newsletter of K. Treppides & Co Ltd: European Banking Authority

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....

1473. 'The suspension of foreclosure sales is tragic for the country'

Bank of Cyprus CEO Panicos Nicolaou described Cyprus's decision to extend the suspension of divestments as "tragic."...

1474. BOC: Profits for first nine months gobbled up by Voluntary Retirement Plan

The bank reported 9 million euro losses following the summer departure of 550 employees, which cost it 104 million....

1475. Ukraine's grain agreement with Russia extended 4 months

A diplomatic agreement that restarted Ukraine's maritime food exports will continue for at least another four months, keeping the economic lifeline open as the major food producer faces its first full winter at war with Russia....

1476. Marios Georgiou named Man of the Year 2022

Marios Georgiou was named Man of the Year at the 21st annual Bank of Cyprus - Man of the Year Awards 2022 held at the Parklane Hotel in Limassol last night, Wednesday, November 16th, in the presence of the President of the Republic of Cyprus, Mr. Nicos Anastasiades. ...

1477. ECB: Banks in Italy, Portugal, Greece, Cyprus could see highest rise in NPLs

Banks in Italy, Portugal, Greece and Cyprus could suffer some of the biggest increases in non-performing loans while France, Ireland and Luxembourg could be among the best performers, the European Central Bank said in a fresh study on Tuesday....

1478. Who benefits from the proposed rent-to-mortgage scheme?

The "Rent vs Instalment Scheme", now known as the "mortgage to rent" scheme, is nearing completion, with implementation set to begin in January 2023. ...

1479. Investors lost $1 billion on FTX, prompting calls for industry regulation

The turmoil in the cryptocurrency world continues unabated following the bankruptcy of the FTX platform, which landed its founder, Sam Bankman-Freid, bankrupt almost overnight. ...

1480. November Newsletter of K. Treppides & Co Ltd: European Banking Authority

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....

1481. FTX's European operations suspended indefinitely

The company is taking a wait-and-see approach until further notice in order to deal with FTX International and the more than $8 billion hole it has created...

1482. President defers foreclosure mess to attorney general

Cypriot President Nicos Anastasiades has refused to veto legislation that suspends foreclosures yet again until February 2023, essentially calling on the attorney general to examine the constitutionality of the bill as the issue on the presidential election campaign trail continues to heat up...

1483. Cyprus regulator to suspend FTX's license

FTX's European Union license in Cyprus could be suspended in yet another blow to Sam Bankman-Fried's crypto exchange, according to Bloomberg....

1484. 400-500 Hellenic employees to be made redundant

On Monday, November 24th, 400–500 voluntary employees will depart Hellenic Launches; this will be the final shift provided by the bank....

1485. Finance Minister calls for the repeal of foreclosure suspension

The Ministry of Finance proposes delaying the law on divestiture suspension. ...

1486. Twitter: Musk warns of the possibility of bankruptcy

1487. Looking for a strategy to suspend foreclosure sales

To protect vulnerable borrowers and stop the economy from being impacted by decisions that could harm its integrity, a strategy for the new potential three-month suspension of foreclosure sales is being sought. ...

1488. FT: Former PWC Cyprus accountants take on company's Russian clients

A group of PwC partners has launched a breakaway firm in Cyprus to take on work from Russia-linked clients that the Big Four accountants will no longer touch....

1489. November Newsletter of K. Treppides & Co Ltd: European Banking Authority

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....

1490. Why inequality is growing in the US and around the world

U.S. income inequality grew in 2021 for the first time in a decade, according to data the Census Bureau released in September 2022....

1491. Bounced checks totaling €47,010 were issued in October

In October 2022, only 32 bounced checks totaling €47,010 were issued, and a total of 20 people were listed on the preliminary list of the Central Information Register (CIR) for bounced checks maintained by the Central Bank of Cyprus (CBC). Thirteen of the twenty were natural persons, and seven were legal entities....

1492. Loans are increasing as interest rates rise

New loans provided by Cypriot banks rose by €217 million in September compared with August, driven mainly upwards by corporate loans over €1 million which rose by 127.6 million....

1493. EY holds Cyprus Attractiveness Forum: Investment Realized, a reference point for FDI in Cyprus

The Cyprus Attractiveness Forum: Investment Realized, organized by EY in collaboration with the Cyprus Chamber of Commerce and Industry, took place on Tuesday, October 25th at the Parklane Hotel, in Limassol. ...

1494. Announcement: Appointment of Principal and Senior Managers in K. Treppides & Co Ltd

The Management of K. Treppides & Co Ltd is committed to develop leaders who derive from own people and who pursue excellence in the provision of high quality specialised and unique services. We are pleased to announce the appointment of the following members on the Board of Management effective as of 1 November 2022....

1495. October Newsletter of K. Treppides & Co Ltd: European Banking Authority

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....

1496. Household debt in Cyprus was 81% of GDP in June

Household debt stood at EUR 20.1 billion at the end of June 2022, with the relevant debt ratio standing at 81% of GDP, a slight decrease compared to the previous quarter due to GDP growth....

1497. People with a history of cancer will be eligible for insurance benefits

Following an agreement reached on Thursday afternoon and announced by Health Minister Michael Hadjipantelas, people with a history of cancer will now be able to receive benefits from insurance companies as of January 1, 2023....

1498. ECB raises interest rates by 0.75%.

The European Central Bank recently decided to raise interest rates by 0.75%. This is the third consecutive increase (a 2% increase overall), and the base rate will now be 2%. The interest rate at which banks accept deposits has risen from 0.75% to 1.5%....

1499. Cyprus has come a long way in restoring reputation over anti-money laundering issues

The Republic of Cyprus has come a long way in dealing with anti-corruption and Anti-money laundering (AML) issues, making important strides in restoring the Republic of Cyprus’ reputation, said US Ambassador to Cyprus, Judith Garber speaking on Tuesday at EY’s Cyprus Attractiveness Forum....

1500. Wim Van Aken talks recession and the predictions for Cyprus

We are facing a double shock. First, we had the Covid-19 shock and now the global and European economies are facing a new shock with the war in Ukraine. Both events are unprecedented for many of us....