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181. Bitcoin surpasses $57,000 on ETF boost and corporate investments

Bitcoin reached a milestone, surpassing $57,000, driven by increasing demand from exchange-traded funds (ETFs) and corporate investments, notably by MicroStrategy. ...

182. Cypriots saving less as loan numbers fluctuate

In January 2024, the total deposits in Cyprus reached €51.9 billion, experiencing a net decrease of €366.0 million compared to the previous month....

183. Cyprus banks push for green standards with ESG certification

Artemis Credit Bureau, a subsidiary of the Association of Cyprus Banks, announced it will launch an interbank project for the corporate certification on ESG (Environmental – Social – Governance) criteria. ...

184. Hellenic Bank posts impressive 2023 profit of €365.4 million

Hellenic Bank reported a substantial profit of €365.4 million for the year 2023, marking a significant upswing from €21.8 million in 2022. The Return on Tangible Equity (ROTE) for 2023 soared to 28.7%, a stark contrast to the 2.0% recorded in 2022....

185. Greek government to sell its stake in Piraeus Bank, anticipates high demand

Greece will proceed with the complete divestment of the state from Piraeus Bank with the disposition of the 27% it controls through the Hellenic Financial Stability Fund (HFSF)....

186. Phone ringing, debt ignored: Cyprus faces loan repayment hurdles

Despite efforts to reduce Non-Performing Loans (NPLs) in Cyprus, the lingering burden continues to weigh heavily on the country's economy and society....

187. Cyprus economy 2024: Ktrends reveals challenges and successes

Delving into the latest findings from the 6th wave of ''Ktrends'' research by ''Kathimerini'' newspaper unveils a multifaceted picture of Cyprus's economic landscape in January 2024. ...

188. EC approves interest subsidy scheme for housing loans

In a significant development, the European Commission's DG Competition has approved an interest subsidy scheme aimed at housing loans in Cyprus....

189. Cyprus emerges as key hub for EMC project with $300 Million Funding

The EMC cable aims to connect Europe with Saudi Arabia, with construction slated to begin in the summer of 2024...

190. Cyprus adapts to changing seas

In response to European sanctions on Russian shipping companies based in Cyprus and developments in the Mediterranean and the Red Sea, Cyprus is actively seeking to attract new companies from different markets....

191. Bank of Cyprus posts nearly half a billion euro profit in 2023

Bank of Cyprus reported a robust profit of €487 million for the fiscal year 2023, as announced by Group CEO Panicos Nikolaou during the presentation of the bank's financial results....

192. Banks urged to accelerate loan restructurings

The governor of the Central Bank has shed light on the strategy for restructuring Non-Performing Loans (NPLs) and navigating credit risk management....

193. Department faces 2,000 backlogged refugee applications due to understaffing

In February 2024, the Service for the Care and Rehabilitation of Displaced Persons (YMAPE) revealed a backlog of 2,000 pending applications, citing understaffing issues. ...

194. Spanish banks wary of Cypriot student accounts

The impact of Cyprus being deemed a high-risk destination continues to reverberate even in European Union countries, with remnants of its troubled past lingering....

195. Cyprus to roll out 10-second euro transfers across banks

Over the next 18 months, Cyprus is poised to revolutionize money transfers, promising seamless transactions within 10 seconds from bank to bank....

196. Parliament passes law to remove property restrictions in Occupied Areas

In a unanimous decision, the Plenary Session of the Greek Parliament passed a law abolishing the right of encumbrance of ''memorandum'' on properties held by banks and credit acquisition companies, located in the occupied territories. ...

197. Turkish Cypriot lawyer released on bail pending trial

Akan Kürşat, a Turkish Cypriot lawyer extradited by Italian authorities on charges of usurping Greek Cypriot property in the occupied territories, has been released on conditions pending his case hearing on February 29 at 10:30 am....

198. Putin and Erdogan set to explore Russian-Turkish bank formation

Moscow and Ankara are set to discuss the establishment of a bank serving Russian and Turkish interests, among other topics, during the upcoming week, according to the Kremlin....

199. European Central Bank considers rate cut, Spanish Governor suggests

The European citizens should know that that the European Central Bank’s next move will be a rate cut, Governor of the Bank of Spain and ECB Governing Council member......

200. Curbing food waste for a greener tomorrow

Food waste poses a pressing issue requiring attention, contributing to uncontrolled food production and straining natural resources. Humans, as the predominant species on the planet, occupy a significant portion of land for food production....

201. Bank of Spain governor to engage in economic talks with Cyprus officials

202. Interest rates extended, borrowers face dilemma

Last Thursday, the European Central Bank (ECB) opted to maintain interest rates, extending the uncertainty for borrowers regarding their loans and repayments....

203. Homeless residents forge dangerous caves along California riverbanks

In a recent discovery that sheds light on the struggles of homelessness in California, authorities in Modesto uncovered a series of makeshift caves along the banks of the Tuolumne River, serving as clandestine dwellings for those without homes....

204. Hellenic Bank eyes CNP Cyprus takeover

Hellenic Bank has confirmed discussions regarding the potential acquisition of CNP Cyprus, validating a report by ''K''. ...

205. Bank of Cyprus gears up for investment talks in New York

Bank of Cyprus has packed its bags for New York as it gears up to meet with the investment community at the Athens Stock Exchange's conference in collaboration with JPMorgan on the 25th of this month. ...

206. Deal in the works for CNP Cyprus

The subsidiary of the French insurance giant CNP Assurances, CNP Cyprus Insurance Holdings, is currently in discussions for a potential change in ownership. ...

207. January Newsletter of K. Treppides & Co Ltd: CySEC

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. ...

208. Cyprus witnesses 356 bounced cheques, yet a €1.7M surge

In a recent disclosure, the Cyprus Central Bank unveiled a decrease in the issuance of uncovered checks during 2023, reporting a total of 356 compared to the previous year's 473. ...

209. Can mobile cameras monitor traffic from both directions?

The Cyprus Traffic Police issued a statement addressing recent concerns about the directional functionality of speed cameras, emphasizing that the capability to monitor both directions has been in effect since the system's initiation...

210. Non-performing loans hold steady at €2B amid rising rates

Non-performing loans in the Cyprus banking system remained essentially unchanged at €2 billion in October 2023, marking a marginal reduction of just €2 million, in an environment of rising interest rates....