https://knews.kathimerini.com.cy/en/news/michael-kyprianou-co-scoops-prestigious-cyprus-firm-of-the-year
Michael Kyprianou & Co LLC has been awarded the Cyprus Firm of the Year Award by Who’s Who Legal (WWL). ...
https://knews.kathimerini.com.cy/en/news/elizabeth-mccaul-unveils-hidden-financial-dangers
A strong signal highlighting the need for closer scrutiny of non-bank financial institutions comes from Frankfurt, as Elizabeth McCaul, a member of the European Central Bank's Supervisory Board, emphasizes the potential risks....
https://knews.kathimerini.com.cy/en/business/cyprus-banks-bracing-for-profit-squeeze-according-to-moody-s
Moody's believes that Cyprus' small and saturated banking sector, the banks' limited loan portfolio, and low fee and commission income will restrict opportunities for growth in domestic banks' activities and profitability in the long term....
https://knews.kathimerini.com.cy/en/news/bank-of-cyprus-and-hellenic-bank-upgraded-by-fitch
Fitch Ratings has delivered significant upgrades to the two largest Cypriot banks, Bank of Cyprus and Hellenic Bank, signaling a positive turn in Cyprus's economic landscape and a bright outlook for both financial institutions....
https://knews.kathimerini.com.cy/en/news/fitch-upgrades-hellenic-s-long-term-rating-to-bb-with-stable-outlook
In a recent announcement, Fitch Ratings raised Hellenic Bank's long-term rating from "BB-" to "BB+" and assigned a stable outlook to the bank. The agency also upgraded the bank's Viability Rating (VR) to "bb+" from "bb-."...
https://knews.kathimerini.com.cy/en/news/no-foreclosures-on-first-homes-until-the-end-of-2023
In a development concerning foreclosures, four months after the summer 2023 decisions, the data remains unchanged. Banks and credit redemption companies have been urged to provide a two-month grace period for first homes and properties up to 350 thousand euros. ...
https://knews.kathimerini.com.cy/en/news/key-economic-issues-dominate-the-headlines
Despite various actions taken and a decrease in inflation, there are worries about the central bank's ability to achieve its goals. Some experts suggest that the target of 2% price growth, ...
https://knews.kathimerini.com.cy/en/business/ecommbx-a-platform-to-rule-them-all
From Day One, ECOMMBX was determined to develop the most powerful electronic payments systems, capable of offering customers seamless cross-border transactions. ...
https://knews.kathimerini.com.cy/en/business/october-newsletter-of-k-treppides-co-ltd-cysec-eba-guidelines-on-outsourcing
A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries. A newsletter issue from Treppides is an essential tool for those who are engaged in the broader financial and business sector, as one can find through the pages all the important and current developments, as well as the latest news relating to financial, audit and assurance, tax as well as legal services....
https://knews.kathimerini.com.cy/en/news/central-bank-s-remote-id-project-to-take-off
The Central Bank of Cyprus (CBC) has officially announced that it has signed an agreement to start the Digital On-boarding project for remote customer identification. The agreement was signed between the CBC and the appointed consortium....
https://knews.kathimerini.com.cy/en/news/acquisition-talks-between-astrobank-and-cdb-bank-heat-up
As of the beginning of the week, high-ranking officials from both banks had a meeting to discuss transaction details and the way forward....
https://knews.kathimerini.com.cy/en/business/ecb-keeps-watchful-eye-on-non-performing-loans
The European Central Bank (ECB) is closely monitoring non-performing loans (NPLs) and related legislation, including the divestment framework. ...
https://knews.kathimerini.com.cy/en/business/eurobank-goes-independent
Eurobank Ergasias Services and Holdings SA has announced the repurchase of a total of 52.08 million shares previously held by the Financial Stability Fund, making it the first Greek systemic bank without state participation in its share capital following the 2010 crisis....
https://knews.kathimerini.com.cy/en/news/ai-enhancing-work-life-balance-100-year-careers
JPMorgan CEO Jamie Dimon is shaking off doomsday predictions about what AI means for humanity — instead laying out how he sees the technology vastly improving businesses and the work-life balance of their employees....
https://knews.kathimerini.com.cy/en/news/how-blockchain-technology-is-reshaping-financing
In this age of technology, digital transformation, and the omnipresence of the internet, alternative digital financing is emerging as an innovative and effective solution for both businesses and individuals in need of financial support....
https://knews.kathimerini.com.cy/en/business/ecb-vp-says-interest-rate-cuts-premature
In an interview with CNA, Louis de Guindos, Vice President of the European Central Bank, expressed that discussions regarding interest rate cuts are premature....
https://knews.kathimerini.com.cy/en/news/ecb-vp-praises-cyprus-economic-turnaround
ECB Vice-President Luis de Guindos praised Cyprus for its remarkable economic improvement and recent upgrades by two rating agencies during a meeting with Cyprus Central Bank Governor Constatinos Herodotou in Nicosia. The officials emphasized the strengthening collaboration between Cyprus and the ECB....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-secure-moody-s-upgrade-to-investment-status
After 12 years, Moody's has upgraded the ratings of Cyprus' two major banks, Bank of Cyprus and Hellenic Bank, placing them in the investment category....
https://knews.kathimerini.com.cy/en/business/inflation-fears-and-green-investments
The European Central Bank (ECB) has revised its inflation forecast upward, now predicting that inflation will reach 5.6% in 2023 and 3.2% in 2024. ...
https://knews.kathimerini.com.cy/en/business/moody-s-double-upgrade-ignites-investor-interest
Last Friday, Moody's delivered a double upgrade for Cyprus, propelling the nation into the investment-grade category recognized by all four major financial firms. Although these rankings may appear modest, their real-world impact is substantial....
https://knews.kathimerini.com.cy/en/business/cyprus-banks-net-interest-income-doubles-amid-ecb-rate-hikes
The Cypriot banking system's net interest income (NII) saw a remarkable doubling in the first half of 2023, marking an annual increase of 100%, primarily due to the ongoing rate hikes by the European Central Bank (ECB) aimed at tackling rising inflation....
https://knews.kathimerini.com.cy/en/business/hellenic-bank-cuts-fees-for-customers
Hellenic Bank is taking steps to enhance its services and support its customers. Mr. Phoebus Stasopoulos, the Senior Banking Manager of Hellenic Bank, announced the expansion of the limit for free SEPA transfers through Online Banking....
https://knews.kathimerini.com.cy/en/news/president-biden-stands-with-striking-autoworkers-demanding-40-pay-raise
President Joe Biden on Tuesday joined a picket line with striking autoworkers in Michigan, supporting their call for a 40% pay raise and saying they deserve a "lot more" than they are getting....
https://knews.kathimerini.com.cy/en/news/keravnos-expects-more-from-banks-to-boost-cyprus-economy
The Cyprus economy has proven its resilience in recent years, Finance Minister Makis Keravnos said Tuesday at the 4th Conference "Banking System: New Challenges and Opportunities", that takes place in Nicosia, noting that there are still challenges that the banking sector must address....
https://knews.kathimerini.com.cy/en/business/techisland-summit-2023-cyprus-on-the-fast-track-of-becoming-a-tech-island
TechIsland held its annual TechIsland Summit within the framework of the Reflect Festival on 20 September 2023....
https://knews.kathimerini.com.cy/en/business/techisland-launches-cy-guide-chatbot-powered-by-loqosai
TechIsland, the largest tech association in Cyprus, announced the launch of version 1.0 of the ''CY GUIDE Chatbot'' powered by LoqosAI. ...
https://knews.kathimerini.com.cy/en/news/syprodat-and-government-join-forces-to-end-non-performing-loans
Finance Minister Makis Keravnos expressed satisfaction with the progress made in divestments and the reduction of non-performing loans (NPLs) during a meeting at the Ministry of Finance with SYPRODAT President Costas Melas and Association Director Jenny Papacharalambous....
https://knews.kathimerini.com.cy/en/news/liquidity-cover-hits-318-in-banking
Konstantinos Herodotou, the Governor of the Central Bank of Cyprus, delivered a robust message at the TechIsland conference in Limassol....
https://knews.kathimerini.com.cy/en/news/bank-refunds-$500-000-to-elderly-customer
From Australia comes a story of corporate responsibility in the face of personal tragedy as an elderly national bank depositor had nearly AUD$500,000 returned to him out of the bank’s own pockets.
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https://knews.kathimerini.com.cy/en/business/beware-of-tax-scam-emails-impersonating-the-ministry-of-finance
The Tax Department is warning people about an unsolicited email that looks like it's from the Ministry of Finance. This email is trying to get your personal information and bank details by pretending to offer a tax refund....
