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31. Cyprus Central Bank sets interest rate limits to protect consumers

The Central Bank of Cyprus (CBC) has announced that the official reference interest rate will be set at 11.50%. This means that banks and other lenders in Cyprus must not charge higher rates than this when offering loans, extending payment terms, or renewing loans. ...

32. Cyprus ended 2024 with a banking boom as loans and deposits surged

Cyprus closed out 2024 with a surge in banking activity, as both loans and deposits saw substantial increases, according to the latest data from the Central Bank of Cyprus (CBC). ...

33. It was a low bar

The Housing Grant Scheme for young couples and individuals up to 41 years of age was launched on 31 October 2024, with a target of 400 beneficiary applications and a total budget of €15 million. ...

34. New lending boosted by interest rates and government plans

A favorable landscape for Cypriot borrowers is taking shape in 2025, laying the groundwork for a strong year in new lending....

35. Trump’s tariff plans could hurt Cyprus’ economy

The looming inauguration of U.S. President-elect Donald Trump has stirred concern across the Eurozone, and Cyprus is no exception....

36. Banks under fire: How public pressure forced a shake-up

Over the past decade, Cypriot banks have paid over €500 million to the state through a special levy known as the ''double tax.''...

37. Bank of Cyprus rolls out support measures for vulnerable groups

After a tense voting session last week, when the bill to tax bank profits narrowly failed to pass in Parliament, the Bank of Cyprus seems to be stepping up with measures aimed at helping vulnerable communities across the island. ...

38. Parliament rejects AKEL’s 5% bank tax bill after tense showdown

A dramatic session in parliament ended with the rejection of a contentious proposal by the opposition party AKEL, which aimed to impose an extraordinary 5% solidarity tax on bank interest income for 2024 and 2025. ...

39. A helping hand or a family plan?

The government unveiled a plan a month ago aimed at boosting the purchasing power of young people to meet their housing needs. ...

40. Business loans on the rise in Cyprus, but consumer borrowing takes a hit

Cyprus experienced a rise in net new loans in October, driven primarily by businesses borrowing more, especially for amounts exceeding €1 million. ...

41. Cyprus receives major credit rating boost from Moody’s

Last Friday, Moody’s delivered a major endorsement of Cyprus’ economic progress, upgrading its credit rating by two notches, from Baa2 to A3, with a stable outlook, according to a report by Panayiotis Rougalas. ...

42. Geoeconomic tensions and Cyprus: Staying the course amid challenges ahead

Geoeconomic fragmentation, the reversal of progress towards global economic and financial integration due to political and military conflict and strategic policy decisions, is rising....

43. DBRS Morningstar: Cyprus shows strong recovery in tackling bad loans

Cyprus is starting to see some positive shifts in its financial sector, particularly when it comes to tackling non-performing loans (NPLs) – loans that borrowers have stopped paying. ...

44. BOC finalizes sale of troubled loans to boost stability and growth

In September 2024, the Bank of Cyprus reached a deal with funds linked to Cerberus Global Investments B.V. to sell a portfolio of non-performing loans—primarily business loans backed by collateral. ...

45. Germany faces uncertainty as Scholz fires finance minister

Germany’s governing coalition faces a major crisis amid economic challenges and mounting political strife, as Chancellor Olaf Scholz dismissed Finance Minister Christian Lindner and announced he will seek a parliamentary vote of confidence on January 15. If Scholz fails to secure support, Germany could see elections as early as March....

46. New EU rules open Cyprus's troubled loan market to foreign investors

In a move that could reshape Cyprus's financial landscape, Parliament recently passed a European Directive that makes it easier for foreign investors to buy non-performing loans (NPLs) in the country....

47. Germany: €60 billion budget shortfall rocks Europe's largest economy

Germany’s tax revenues are projected to fall nearly €60 billion short of earlier expectations over the next five years, intensifying budget challenges for Chancellor Olaf Scholz’s government and straining the already fragile three-party coalition....

48. CBC urges banks to show social responsibility despite sector’s strength

The Central Bank of Cyprus (CBC) released its annual Financial Stability Report for 2023 on Tuesday, indicating that the financial sector is overall strong and capable of handling unexpected challenges. ...

49. Cypriot banks sending loans abroad: A growing risk?

Yesterday, I had a conversation with someone who truly understands banking—probably more knowledgeable than many who think they do....

50. 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....

51. 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....

52. 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. ...

53. 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....

54. 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. ...

55. 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)....

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

57. 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....

58. 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%....

59. 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....

60. 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....