https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/news/parliament-enacts-law-granting-tax-exemption-on-loan-repayments
The House of Representatives has unanimously approved a law exempting individuals who sold real estate or transferred shares to repay Non-Servicing Loans from the 0.4% tax designated for the Central Equal Weight Sharing Agency...
https://knews.kathimerini.com.cy/en/news/dr-anastasatos-forecasts-bright-future-for-cyprus-economy-in-candid-interview
Eurobank group's chief economist, Dr Tasos Anastasatos, expresses optimism about the Cyprus economy, emphasizing that the decision to expand the group's banking presence in Cyprus is linked to these positive economic prospects....
https://knews.kathimerini.com.cy/en/news/houthi-strikes-send-prices-soaring-in-global-trade
In recent weeks, the developments in the Red Sea, with the Houthi attacks on commercial ships and their impact on global trade, have dominated the discussions of suppliers with their partners....
https://knews.kathimerini.com.cy/en/business/cyprus-grapples-with-lingering-private-debt-woes
In Cyprus, the European Commission consistently highlights the significant economic challenge of private debt through regular post-program or post-memorandum reports....
https://knews.kathimerini.com.cy/en/comment/opinion/cyprus-housing-crisis-deepens-amid-interest-rate-scandal
With current interest rates, the prospect of repaying a mortgage spans nearly fifty years for an average family, turning homeownership into an elusive dream....
https://knews.kathimerini.com.cy/en/news/half-of-cyprus-loans-vulnerable-to-euribor-and-ecb-rates
Half of the loans in Cyprus are "vulnerable" to euribor and the European Central Bank's (ECB) key rates. In 2024 and 2025, we may not expect further increases, but rather possible decreases, according to the Central Bank of Cyprus' Financial Stability Report for 2022....
https://knews.kathimerini.com.cy/en/news/1-migration-and-pandemic-in-focus-at-brussels-summit
Victor Papadopoulos, Director of the Presidency Press Office, described the ongoing discussions at the Brussels Summit as particularly challenging....
https://knews.kathimerini.com.cy/en/news/parliament-approves-measures-for-npls-and-foreclosures-framework
Cyprus' Finance Ministry has expressed satisfaction with the parliament's approval of laws integral to the comprehensive package for managing Non-Performing Loans (NPLs) and the foreclosure framework....
https://knews.kathimerini.com.cy/en/news/critical-battle-looms-as-parliament-debates-foreclosure-legislation
Background consultations are in progress to prepare amendments to the legislative package on divestments, set for submission to the Parliament Plenary on Friday for a vote....
https://knews.kathimerini.com.cy/en/news/mortgage-to-rent-scheme-sparks-overwhelming-interest-as-call-centers-inundated
In a significant response to the newly launched 'Mortgage to Rent' Scheme by the implementing agency, KEDIPES, the service center has been inundated with hundreds of calls since the official commencement of the initiative today....
https://knews.kathimerini.com.cy/en/news/foreclosure-showdown-escalates-with-parliament-vote
The Greek government is set to present legislation in Parliament this Friday addressing borrower protection in relation to foreclosures....
https://knews.kathimerini.com.cy/en/news/kedipes-introduces-rent-to-own-scheme-for-vulnerable-households
Starting December 4, the government, in collaboration with KEDIPES, opens applications for the innovative "rent for hire-purchase" scheme. This initiative aims to fully settle loans secured on the main residences of vulnerable households, offering a lifeline to those facing financial challenges....
https://knews.kathimerini.com.cy/en/news/cyprus-sees-drop-in-savings-to-6-5-eurostat-highlights
Saving rates were significantly lower than in 2021 (13.47 in Cyprus, 16.4% in the EU), and closer to the values before COVID-19 pandemic (5.8% in Cyprus and 12.3% in the EU in 2019)....
https://knews.kathimerini.com.cy/en/business/eurozone-economic-snapshot-november-13-2023
Inflation in the Eurozone, which stood at 10.6% in October 2022, has decreased to 2.9% in October 2023, sparking optimism among central bankers....
https://knews.kathimerini.com.cy/en/news/central-banks-across-europe-hold-firm-amidst-rate-cut-speculations
Europe's top central bankers have affirmed that despite market expectations for a reduction due to weakening growth, interest rates will persist at elevated levels. ...
https://knews.kathimerini.com.cy/en/news/financial-tsunami-looms-as-limassol-court-decision-sends-shockwaves-through-cyprus
In a potentially precedent-setting decision, the Limassol District Court has upheld its initial ruling in favor of a Russian depositor of the People's Bank, potentially exposing the state to financial implications of up to 2-3 billion euros....
https://knews.kathimerini.com.cy/en/news/will-foreclosures-plague-2023
There is a race against time, with only a few weeks left to address the issue of foreclosures and enhance the framework....
https://knews.kathimerini.com.cy/en/news/freeze-on-home-foreclosures-likely-to-continue
As the year comes to a close, it seems likely that the freeze on foreclosures of primary homes valued up to €350k will be extended....
https://knews.kathimerini.com.cy/en/news/key-economic-issues-dominate-the-headlines
Despite various actions taken and a decrease in inflation, there are worries about the central bank's ability to achieve its goals. Some experts suggest that the target of 2% price growth, ...
https://knews.kathimerini.com.cy/en/business/kedipes-calls-for-stability-in-foreclosure-framework-to-safeguard-borrowers-homes
Lambros Papadopoulos, Chairman of the Board of Directors of KEDIPES (Cyprus Asset Management Company), emphasized the importance of maintaining consistency in the 2018 divestment framework within the Parliament....
https://knews.kathimerini.com.cy/en/news/kedipes-prepares-60-million-euro-mortgage-to-rent-initiative
The sale of primary residences worth up to 350 thousand euros faces a potential new suspension. As of the end of October, no additional steps have been taken regarding divestments....
https://knews.kathimerini.com.cy/en/news/suspense-builds-as-foreclosure-deadline-nears-and-creditors-seek-solutions
Cyprus is nearing the end of the suspension of divestments of primary residences worth up to 350 thousand euros, but a solution remains elusive regarding open funds tied to the divestment framework. ...
https://knews.kathimerini.com.cy/en/comment/opinion/real-estate-market-remains-unpredictable-despite-economic-chaos
Everything around us exudes a sense of precision. Costs are on the rise, from the basic materials used in production to the final products we consume. ...
https://knews.kathimerini.com.cy/en/business/ecb-keeps-watchful-eye-on-non-performing-loans
The European Central Bank (ECB) is closely monitoring non-performing loans (NPLs) and related legislation, including the divestment framework. ...
https://knews.kathimerini.com.cy/en/news/how-blockchain-technology-is-reshaping-financing
In this age of technology, digital transformation, and the omnipresence of the internet, alternative digital financing is emerging as an innovative and effective solution for both businesses and individuals in need of financial support....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-secure-moody-s-upgrade-to-investment-status
After 12 years, Moody's has upgraded the ratings of Cyprus' two major banks, Bank of Cyprus and Hellenic Bank, placing them in the investment category....
https://knews.kathimerini.com.cy/en/business/inflation-fears-and-green-investments
The European Central Bank (ECB) has revised its inflation forecast upward, now predicting that inflation will reach 5.6% in 2023 and 3.2% in 2024. ...
https://knews.kathimerini.com.cy/en/business/moody-s-double-upgrade-ignites-investor-interest
Last Friday, Moody's delivered a double upgrade for Cyprus, propelling the nation into the investment-grade category recognized by all four major financial firms. Although these rankings may appear modest, their real-world impact is substantial....
https://knews.kathimerini.com.cy/en/news/bank-of-cyprus-woos-investors-at-london-conference
Last week, the Bank of Cyprus launched a series of engagements with investors, with a particular focus on attracting new stakeholders. This initiative took place during the BofA Merrill Lynch conference, notably at the Annual Financials CEO Conference held in London from last Tuesday to Thursday. ...
