https://knews.kathimerini.com.cy/en/business/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. ...
https://knews.kathimerini.com.cy/en/business/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....
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/comment/opinion/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....
https://knews.kathimerini.com.cy/en/business/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. ...
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/news/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+'.
...
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/news/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. ...
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/news/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. ...
https://knews.kathimerini.com.cy/en/business/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. ...
https://knews.kathimerini.com.cy/en/news/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. ...
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/news/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,''...
https://knews.kathimerini.com.cy/en/news/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. ...
https://knews.kathimerini.com.cy/en/business/household-deposit-rates-surge-as-home-buying-loan-rates-dip
In March 2024, the financial landscape in Cyprus saw some interesting shifts, according to data released by the Central Bank of Cyprus. Here's a breakdown of what happened:...
https://knews.kathimerini.com.cy/en/news/study-shows-many-cypriots-struggle-with-financial-literacy
A recent study by the Economics Research Centre at the University of Cyprus has brought to light issues regarding financial literacy in the country....
https://knews.kathimerini.com.cy/en/news/puppy-yoga-banned-in-italy-for-animal-safety
Italy’s Ministry of Health has banned “puppy yoga” classes, saying only adult dogs should take part in order to protect the health of animals as well as the safety of attendees....
https://knews.kathimerini.com.cy/en/news/former-central-bank-governor-reflects-on-achievements-and-future-plans
In an exclusive interview with Andreas Kimitris of Kathimerini, former Cyprus Central Bank Governor Constantinos Herodotou delved into various aspects of his tenure and the hurdles encountered during his term. ...
https://knews.kathimerini.com.cy/en/news/greek-royal-couple-announce-divorce-after-13-years
In a joint announcement released on April 19, Prince Nikolaos and Princess Tatiana of Greece revealed their decision to end their marriage of 13 years. ...
https://knews.kathimerini.com.cy/en/news/cyprus-public-debt-declines-economic-outlook-brightens
According to a report by Panayiotis Rougalas, Cyprus is seeing a promising reduction in its public debt, with figures suggesting a return to 2019 levels....
https://knews.kathimerini.com.cy/en/business/businesses-turn-to-banks-amid-funding-crunch
In 2023, businesses encountered a tough road ahead when it came to securing loans, as costs continued to climb....
https://knews.kathimerini.com.cy/en/news/president-christodoulides-hails-financial-progress-with-new-cbc-governor
The appointment ceremony for the new governor of the Central Bank of Cyprus, Mr. Christodoulos Patsalides, occurred this morning at the Presidential Palace, with the President of the Republic, Mr. Nikos Christodoulides, in attendance....
https://knews.kathimerini.com.cy/en/news/kedipes-introduces-plan-to-help-borrowers-repay-home-loans
The Cyprus Asset Management Company (KEDIPES) has unveiled a new initiative aimed at assisting borrowers in repaying their home loans....
https://knews.kathimerini.com.cy/en/news/finance-minister-extends-rent-program-to-assist-more-homeowners
The Cabinet has approved an expansion of beneficiaries for the Rent Relief Program against Installments, announced Finance Minister Makis Keravnos after the body's session.
...
https://knews.kathimerini.com.cy/en/news/cyprus-grapples-with-€80-million-surge-in-state-budget-deficit-for-2023
The state budget deficit for 2023 increased by €80 million compared to the deficit recorded in 2022, according to the Fiscal Report of the Republic of Cyprus for 2023, submitted to the House of Representatives....
