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121. Expanding Profitability and Strengthening Capital Position

Group Financial Results for the year ended December 31, 2022...

122. Cyprus' 2022 household assets reach €59.7B, debt at €20B

In December 2022, the total value of financial assets held by households was €59.7 billion. Out of this amount, 62% was invested in currency, deposits, and loans, 2% was allocated to debt securities, 19% was invested in stocks, and the remaining 17% was invested in other types of financial instruments....

123. The value of authenticity

Easter always goes hand in hand with the search for authenticity. For the authentic Epitaph procession, good company for the subsequent authentic feast, the authentic Greek landscape, the authentically spiritual experience of the Resurrection service. ...

124. Nicosia says US army links not against Turkish Cypriots

Greek Cypriots are rejecting Turkish Cypriot claims that American actions disrupt balance on the divided island, following the recent docking of a US attack submarine in Limassol, with Nicosia accusing the north of regurgitating Ankara’s longstanding criticism...

125. Investors flock to 'green' bonds as a secure investment

126. Cyprus raised 1 billion with a 10-year sustainability bond

Cyprus has raised €1 billion through its first-ever 10-year sustainable bond, which saw demand exceed supply by 12.5 times. The bond yielded 4.20% and will finance a range of "green" and social projects,...

127. March Newsletter of K. Treppides & Co Ltd: CySEC

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....

128. UBS steps in to buy rival Credit Suisse

Some of the world's largest central banks came together on Sunday to stop a banking crisis from spreading as Swiss authorities persuaded UBS Group AG to buy rival Credit Suisse Group AG in a historic deal...

129. It's been 10 years since the haircut

In March 2023, Cyprus will mark 10 years since the deposit haircut. Ten years after the 2013 crisis, Cyprus looks completely different. During this decade, many changes have taken place and its citizens have experienced many different situations,...

130. Banks around the world feel force of SVB fallout

U.S. President Joe Biden vowed to do whatever was needed to address a threatened banking crisis after the collapses of Silicon Valley Bank and Signature Bank forced regulators to step in with emergency measures....

131. HSBC buys failed Silicon Valley Bank in bid to stem fallout

Governments in the UK and the U.S. took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down....

132. Thinking of investing in real estate? Don’t do it.

A lack of financial literacy can lead people to consider investing in direct real estate. This a provocative statement to say the least, so let me explain....

133. What factors played a role in Christodoulides' election?

Nikos Christodoulidis is the eighth President of the Republic of Cyprus and the first in history to not only be the first to cut the thread in the first round of presidential elections without the support of one of the two major parties but also to be elected President while facing AKEL and the leadership of DISY....

134. CBC: Household debt at 77% of GDP

The household debt ratio stood at 77% of the Gross Domestic Product (GDP) at the end of September 2022, marking a slight decrease compared to the previous quarter, due to the increase in GDP, according to data published by the Central Bank of Cyprus on its website on Tuesday, in the "Quarterly Financial Accounts" edition, for the reporting quarter ending September 2022. ...

135. Banks are revising lending rates

Cypriot banks are preparing new loan rates in an effort to redesign the pricing of loans. In the first half of 2023, Cypriot banks will see significant changes in the pricing of new loans, accompanied by increases in interest rates, ...

136. Funds are investing in Cypriot banks

Investing in Cypriot banks is becoming more common. The progress they have made in terms of the non-performing loan burden they have shed, their capital adequacy, which is characterized as good,...

137. Looking ahead to 2023: House prices in Cyprus

The end of 2021 saw Europe’s and Cyprus’ economies gradually recovering from the two-year rollercoaster ride of lockdowns, the stock market at record highs, and inflation increasing....

138. The 2023 investment chessboard

Today's data is completely different from what it was a year ago in terms of investment....

139. Cyprus braces for credit ratings in 2023

The ratings will take place in a year marked by a projected economic slowdown, amid the continued uncertainty that clouds the economic outlook, due to high inflation and the energy crisis, fueled by the continuing war in Ukraine...

140. Finance Ministry: 'Cyprus economy will not enter a recession'

There will be a significant slowdown in economic activity next year, we will be affected by increased energy prices and borrowing costs, but "inflation in Cyprus is being reined in at lower levels" compared to other European member states, ...

141. US donates lunar rock to Cyprus

Today the United States donated a lunar sample, mounted on a commemorative plaque, to the people of Cyprus. The sample was collected in December 1972 during the Apollo 17 mission to the Moon....

142. ECB raises interest rates by 0.5%

Christine Lagarde warned markets not to expect an early end to rate rises next year, on a day when the European Central Bank and the Bank of England lifted borrowing costs to their highest levels in 14 years....

143. The end of an era for the plane that shrank the world

The last Boeing 747 is about to leave the assembly line today, after 53 years and at least 1,570 planes....

144. Tying up loose ends at Hellenic

Hellenic Bank experienced several changes in 2022, as it closed outstanding issues while also opening new chapters. Hellenic Bank made changes to its top management, staff, shareholding composition, and labor issues in the fourth quarter of 2022, ...

145. Teacher on trial for touching girls inappropriately

A male teacher at a junior high school in Limassol will be arraigned next month on dozens of charges following accusations from nine girls who say the educator was touching female students inappropriately during class...

146. Finance Minister calls for the repeal of foreclosure suspension

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

147. Anastasiades 'an ally and true friend' of Israel

At a special ceremony held today at the Presidential Residence in Jerusalem, the President of the Republic Mr. Nicos Anastasiades was awarded the Presidential Medal of Honor by the President of Israel Mr. Herzog....

148. 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....

149. 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....

150. Rishi Sunak to become Britain's next Prime Minister

Britain's new prime minister is Rishi Sunak. Penny Mordaunt, the only candidate left standing for the Conservative leadership following Boris Johnson's withdrawal yesterday, has also withdrawn from the race, paving the way for Sunak to take over as Prime Minister....