Search

781. KPMG Property Lending Barometer 2020

782. EU set to sanction Turkey over ships in disputed East Med exploration area

The European Union is preparing sanctions against Turkey that could be discussed at the bloc's next summit on September 24 in response to the Eastern Mediterranean dispute with Greece, the EU’s top diplomat said on Friday. ...

783. Buyer’s market and herd immunity

The most unhappy property buyers are the ones who believe that the real estate market is a Buyer’s Market and discover that in the end the market is anything but a buyer’s market...

784. Cyprus back to square one

Wearing a mask in public indoor spaces will be mandatory in the Republic of Cyprus, following a government decision in response to concerns over a recent spike of coronavirus cases...

785. Moody's: Payment holidays shield Cyprus banks in 2020, but deterioration likely in 2021

Around one third of Cyprus banks’ gross loans were deferred as a result of the coronavirus pandemic, the Moody’s rating agency said Monday, noting that while the payment holiday may shield local banks in 2020, asset quality deterioration is “still very likely next year.”...

786. Market sentiment looking up, FinMin says

Market sentiment is looking up, Finance Minister Constantinos Petrides said Tuesday after a broad meeting at the Presidential Palace between President Nicos Anastasiades and representatives of financial institutions....

787. The market needs oxygen, FinMin says

The market needs oxygen, Finance Minister Constantinos Petrides said Monday, stressing that the least citizens expect from politicians is to reach a consensus in order to support the economy in line with a prudent policy without placing it in further danger....

788. Police checks to be stepped up as restrictions loosen

Cyprus police won’t be easing up on checks as the island gradually begins to loosen restriction measures, on the contrary, patrols will be stepped up, the Chief of Police stressed....

789. More Cypriots ditch cash during pandemic

Cypriot consumers are increasingly turning to debit and credit cards as opposed to traditional cash payments for their daily needs amid the coronavirus pandemic, data by JCC payments systems show ...

790. Lagarde draws line on how far ECB largesse can go

European Central Bank President Christine Lagarde drew the line on how far the ECB could go in helping virus-stricken eurozone countries on Wednesday, saying lending to governments directly would be illegal and handing out cash to citizens difficult....

791. To wear or not to wear

Recommendations on the use of face masks vary in the Republic of Cyprus, in the midst of a full-blown coronavirus pandemic, with members of the public essentially making that call based on the latest information they can find...

792. Coronavirus derails southern Europe's clean-up from the last crisis

This year was meant to mark a turning point for Greek and Italian banks as they finally laid the ghosts of the financial crisis to rest. Then the coronavirus struck....

793. Over 23,000 applications filed for suspension of loan payments

More than 23,000 persons have applied to the island’s two largest banks for a suspension of loan repayments, as retail borrowers and companies are trying to preserve disposable income amid the economic activity shutdown due to the coronavirus pandemic....

794. Coronavirus’ impact on local businesses

The organisation’s experts discuss the developments and analyse the measures that need to be taken to address the challenges...

795. Cyprus gets tougher with stricter bundle of measures

Stricter measures to contain the spread of coronavirus were announced by the Health Minister on Monday as the island scrambles to curb the steadily rising deaths and infections....

796. Loan payments to be suspended for nine months

After over two weeks of discussions between the Ministry of Finance, the Ministry of Labor, the Central Bank, the Association of Cyprus Banks and other financial entities to minimize the impact of coronavirus on the Cyprus economy, white smoke has emerged with all parties agreeing that payoffs for all types of loans are to be suspended for nine months....

797. Government considering to give banks €2b in state guarantees to unlock credit

The Cyprus government is considering a plan to provide state guarantees to banks amounting to €2 billion, in a bid to unlock credit to self-employed, small and medium-sized enterprises and large corporations hit by the coronavirus epidemic....

798. Financial measures tackle coronavirus in Cyprus

Measures of Financial Support to address the Impact of the Coronavirus have been announced by the Government of the Republic of Cyprus...

799. Main hospitals partially resume operations, blood banks low

The island’s two main hospitals partially resumed operations on Thursday when coronavirus cases rose to seven after a person who recently returned from the UK tested positive....

800. Mixed reviews on anti-money laundering

A US State Department anti-money laundering report on Cyprus includes fewer negative references but still points to vulnerabilities in the island’s financial services and gaming sectors...

801. Guards use tear gas to disperse hundreds of migrants at Greek-Turkish border

Guards on Greece’s northeastern land border with Turkey made “deterrent use” of tear gas to disperse some 500 refugees and migrants trying to enter the country and the European Union after Ankara loosened controls on migrant flows....

802. New Life in Cyprus of Russian Businessman after unfair seizure of Promsvyazbank

In 2017 Dmitry Ananiev was at the peak of his success. He and his brother Alexei owned a bank, an IT firm and an office complex overlooking the Moscow River. ...

803. Cyprus enjoys strong growth prospects but contingent liabilities remain

Strong growth prospects and sustained fiscal discipline places Cyprus on a firm declining path but contingent liabilities, healthcare and public sector wage-related costs, as well as weaker external conditions, pose risks to the fiscal outlook, Scope rating agency said in commentary on Cyprus....

804. EIB President in Cyprus to discuss bank’s investment in the country

The European Investment Bank (EIB) President, Werner Hoyer, was in Cyprus on Monday to update President Nicos Anastasiades on recent and future investment on the island, and to review improvements the education sector which has enjoyed significant ECB investment....

805. Banks must find new profitable products, CBC Governor says

The task of securing alternative profitable products besides lending is the biggest challenge for banks in small countries such as Cyprus, Central Bank Governor Constantinos Herodotou said on Friday....

806. In Paris visit, Greek, French ministers agree to boost investments

Finance Minister Christos Staikouras, Development and Investments Minister Adonis Georgiadis and French Minister of Economy and Finance Bruno Le Maire, signed a declaration of intent on the Greek-French economic partnership in Paris on Wednesday, aimed at boosting investments....

807. How Russian uncapitalism works

Like a private equity firm enacting an acquisition-led ‘roll-up’ in a fragmented sector, Putin and Co in Russian have been busy in recent years quietly taking scores of small banks into state ownership...

808. Cyprus pays off costly crisis loan early

The Cypriot finance minister says the government is repaying an IMF rescue loan faster and at a lower rate after a double bond issuance expected to secure most of the country’s borrowing needs for 2020...

809. Thousands of Greek cards to be replaced in travel website data breach

Greece’s four systemic banks have canceled or are planning to cancel and replace up to 15,000 credit and debit cards, after the payment card data used by some of their customers on a Greek online tourist services portal was hacked....

810. CITR Cyprus calls for modern insolvency rules