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31. ECB cuts rates again as Eurozone inflation and economy struggle

The European Central Bank (ECB) has cut interest rates for the third time, marking the first consecutive reduction in 13 years....

32. Global debt to exceed $100 trillion this year

Global public debt is nearing the size of the world economy, posing risks to living standards in developed nations, the International Monetary Fund (IMF) warned....

33. ECB to review AKEL’s proposed bank tax amid financial concerns

The European Central Bank (ECB) is set to evaluate a proposed "windfall tax" on banks, commonly associated with the leftist political party AKEL, in Cyprus. ...

34. Cyprus banks hike mortgage rates as new loans drop by a third in August

Banks in Cyprus raised the interest rates on home loans in August, while reducing the interest rates offered on household deposits, according to data released by the Central Bank of Cyprus on Wednesday....

35. Cyprus credit rating upgrade: A boon for investors, but what about citizens?

Cyprus has recently received good news from the credit rating agency Capital Intelligence (CI), which upgraded the country’s credit ratings, according to Kathimerinni's Dorita Yiannakou. ...

36. Tighter lending rules for businesses while household loans remain steady

Cypriot banks made it harder for businesses to get loans in the second quarter of 2024, while lending rules for households stayed the same, according to a new survey by the Central Bank of Cyprus (CBC)....

37. Homebuyers face mounting debts as developers' loans go unpaid

38. ECB set to cut key interest rate by 0.25% in upcoming meeting

The European Central Bank (ECB) is expected to reduce its key interest rate by 0.25% on Thursday, according to most economists in Greece and the Eurozone....

39. Cyprus sees higher borrowing costs, lower deposit rates in July

Interest rates on consumer loans and mortgages in Cyprus increased in July, according to the Central Bank of Cyprus (CBC). The rate for consumer credit climbed to 6.67% from 6.18% in June, while the rate for home loans rose to 4.59% from 4.52%....

40. Cypriot banks slash Eurosystem funding by €2.6 billion

Cypriot banks have almost zeroed funding from the Eurosystem via the Targeted Long-Term Refinancing Operations (TLTRO), with the latest data by the Central Bank of Cyprus (CBC) showing repayments amounting to €2.6 billion....

41. Boxer Khelif and the social media furor over the Olympics

The Olympics have concluded, and while there is much to celebrate regarding the achievements of Cypriot athletes, there is also a lingering dissatisfaction with those misled by far-right campaigns that falsely claim to see "woke agendas" everywhere....

42. Bank of Cyprus sees 23% profit growth, raises financial targets

The Bank of Cyprus has announced a 23% increase in its profit after tax for the first half of 2024, reaching €270 million, compared to the same period in 2023. ...

43. Bank of England cuts interest rates after nearly a year of stability

The Bank of England (BoE) has cut interest rates for the first time since the start of the COVID-19 pandemic, dropping them from a 16-year high. This decision, made by a narrow 5-4 vote, reflects a split among policymakers about whether inflation is under control....

44. Apartment prices up 13.9% yearly, house price growth slows

In the first quarter of 2024, house price growth showed a slight slowdown, while apartment prices continued to rise....

45. Cyprus seeks solutions for property buyers 'in limbo' after court ruling

The government is working to help property buyers who are now in a difficult situation after the Court of Appeal ruled the 2015 Real Estate Transfer and Mortgage Law unconstitutional....

46. Are we in a real estate bubble?

The real estate market has been steadily rising since 2015, marking the ninth consecutive year of growth in the sector. However, this broad trend has not been without fluctuations, particularly influenced by the economic disruptions of the pandemic era. Monthly analyses of transaction numbers and volumes from this platform illustrate these ups and downs....

47. Surge in corporate loans despite interest rate hike

The Central Bank of Cyprus has released its latest data revealing notable shifts in financial trends for May 2024. Despite a 0.52% uptick in lending rates for non-financial corporations borrowing amounts over €1 million, new loans to these entities surged by 10% compared to the previous month. ...

48. ECB concerned over Cypriot bank profit tax proposal

In 2023, Cypriot banks reported unprecedented profits, marking a 15-year high, with projections suggesting even greater earnings in 2024....

49. Fitch elevates Hellenic Bank’s credit rating

Fitch Ratings has upgraded Hellenic Bank's Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BB+', with stable outlook and its Viability Rating (VR) to 'bbb-' from 'bb+'. ...

50. President announces €10 Million boost for Cyprus tourism

President Nikos Christodoulides announced a €10 million increase in the 2025 budget for the Deputy Ministry of Tourism to enhance Cyprus's international promotion....

51. Banks contribute over €854M in taxes amid controversy over proposed levy

In the last seven years (2017-2023), Cypriot banks have collectively paid more than €854 million in income tax, special taxes, and VAT, according to a report by Panayiotis Rouglas in last Sunday's Kathimerini....

52. KEDIPES sends first approvals for mortgage-to-rent scheme

State-owned asset management company, KEDIPES began sending the first approvals for eligible borrowers as part of the government-funded mortgage-to-rent scheme....

53. Banks blame high interest rates for decline of new loans

Loan demand continued to fall in the first quarter of 2024, with banks blaming high interest rates for the decline. ...

54. Agency reports strong start to 2024, continues paying off state debt

KEDIPES, Cyprus' state-owned asset management agency, announced a €144 million cash inflow for the first quarter of 2024. The agency also made a €140 million repayment to the state, bringing the total repayment to €1.3 billion since it started in September 2018....

55. What's in a name? The romantic tale of Rosebank whisky

Rosebank. What a romantic name, isn’t it? To me, it conjures up images of blooming roses and tranquil riverbanks. ...

56. Cyprus faces market uncertainties as exit plans delayed again

According to report by Panayiotis Rougalas in today's Oikonomiki, Cyprus faces a challenging time as it navigates plans to exit the financial markets. ...

57. Cyprus inflation could offset ECB rate cut benefits

The European Central Bank (ECB) cut its three key interest rates by 25 basis points on Thursday, marking the first reduction after nearly two years of increases or stasis. ...

58. ECB to implement first interest rate cut

The European Central Bank (ECB) is poised to execute its much-anticipated rate cut, scheduled to take effect on Thursday, June 6, 2024....

59. Why the high interest rates when inflation is low?

Finance Minister Makis Keravnos has criticized the high lending rates in Cyprus, calling them unjustifiable given the country's relatively low inflation. In an interview with the Sunday edition of ''Phileleftheros,''...

60. Cypriot banks set to exceed 2023's record profits in 2024

Cypriot banks are maintaining a low profile, but it's expected that 2024 will bring in higher profits compared to the record-breaking figures of 2023. ...