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211. Property sales hit 14-year high in Cyprus

Property sales in March, as measured by the number of sale contracts deposited at Land Registry offices, hit a 14-year high according to figures released by the Department of Lands and Surveys....

212. Russia teetering on brink of default as US stops bond payments

The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at U.S. banks, in a move meant to ratchet up pressure on Moscow and eat into its holdings of dollars....

213. RCB Bank invites depositors to withdraw their money

RCB Bank will invite its depositors to withdraw their money. According to Kathimerini sources, RCB Bank customers are expected to be able to either receive their deposits on hand or transfer them to other Cypriot banks....

214. Moody's: Which countries are geopolitically and financially at risk from the war in Ukraine?

Geopolitical tensions in Eastern Europe may have been high for years, but the Russian invasion of Ukraine is a paradigm shift in the post-Cold War European order of security,...

215. Versailles summit: Difference of views on Ukraine's accession, Eurobond

VERSAILLES - RESPONSE. Resistance within the EU is strong against new excesses to deal with the multifaceted crisis that erupted with the Russian invasion of Ukraine. ...

216. Housing projects to be funded from casino revenue

CLDC plans to build more than 800 housing units in the coming years, which will be allocated either through the affordable housing plan or through the new affordable rent plan for economically vulnerable households....

217. NPLs in Cyprus decrease €722 million at the end of September

Α decrease of €722 million or 14.4% was recorded at the end of September 2021 in aggregate Non-Performing Loans (NPLs) compared with the end of June 2021, according to data released Friday by the Central Banks of Cyprus (CBC)....

218. Cyprus economy grew by 5.7% in 2021 according to Eurostat

The continued high rate of growth in the fourth quarter of 2021 confirms the resilience and dynamism showed by the Cypriot economy and the soundness of our policies, boosting expectations for further growth in 2022, Finance Minister Constantinos Petrides said on Tuesday....

219. Turkey’s inflation hits a 19-year high of 36%

Turkey’s yearly inflation climbed at the fastest pace in 19 years, jumping to 36.08% in December, official data showed on Monday....

220. SYPRODAT: Demands response from Central Bank, Government and Parliament regarding increased charges

The Bank of Cyprus Borrower Association (SYPRODAT) is calling for an immediate response from the Central Bank of Cyprus, the Government and Parliament in relation to the increase of charges from the largest Cypriot banks....

221. Christmas on borrowed cash for many

One in four households will take on credit card debt to buy food and presents this festive season, according to the 2021 study of the European Consumer Payment Report....

222. Turkish lira resumes slide to 17.5 against the dollar

The Turkish lira continued its freefall after President Recep Tayyip Erdogan rejected warnings from businesses about the dangers of recent interest rate cuts and vowed there was “no going back” from his approach....

223. More than 330 current and former politicians identified as beneficiaries of secret accounts

A huge leak of financial documents published by several major news outlets on Sunday reportedly linked world leaders to secret wealth stockpiles, including King Abdullah of Jordan, Czech Prime Minister Andrzej Bremen and Prime Minister Andrei Bredo....

224. Hellenic posts 21 million euro profit

Hellenic Bank posted after-tax profits of €21 million for the first half of 2021....

225. ECB tells Cyprus lawmakers to get it right

Elizabeth McCaul, Member of the Supervisory Board of the ECB, advised caution over possible amendments to the Cyprus foreclosure law stressing that 'such policies can also backfire and destabilize the banking sector if designed in a haphazard manner'...

226. IMF: Withdrawal of support measures should be gradual

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities from March 8–29, 2021 to discuss recent economic developments and policy priorities on the island. In an interview with Kathimerini Cyprus, IMF mission chief for Cyprus, Anita Tuladhar, said the longer the recovery period in sectors related to tourism, the greater the chance that permanent scars will remain in the economy of Cyprus. Tuladhar also noted the importance of state-sponsored programs to support the economy....

227. FinMin: Cyprus to reduce debt once pandemic normalises

Cyprus Minister of Finance Constantinos Petrides told the Cyprus News Agency that the government will begin reducing public debt, increased due to strategic cash reserves, once the pandemic begins to normalise....

228. Paphos court rules stabbing was self defence

A defendant who visited Cyprus last year and ended up in jail for seven months after stabbing another man, walked free this week after prosecutors failed to prove beyond reasonable doubt that he had murderous intent, with judges ruling self-defence was justifiable...

229. MPs vote on budget hanging by a thread

The House takes another vote on the state budget on Thursday, with representatives expected to pass the bill narrowly following behind-the-scenes consultations since the first time it was rejected in mid-December...

230. State budget battles rage on in Cyprus

Ruling party DYSI has been mounting a campaign over the last 24 hours to secure votes to pass the state budget, which is up in the air over golden passport probe wars, with added pressure also causing rifts even within smaller parties...

231. New court culture coming to Cyprus

The president of the Cyprus Bar Association says justice reform is in the air in the Republic of Cyprus, after proposed rules on Civil Law Procedure were submitted on Thursday to the Supreme Court in hopes to introduce a new court culture on the island...

232. Man stabs compatriot over loaned money

A man has been arrested in Paphos in connection with a knife attack, with reports saying he stabbed his compatriot who owed him money after he felt insulted...

233. Banks must prepare for a new cycle of NPLs due to Covid-19

Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) told Cyprus commercial banks to prepare to face a new cycle of non-performing loans in 2021 due to the coronavirus pandemic....

234. Government extends support schemes until end October

The Cabinet on Thursday decided to extend current government support programs aiming to cushion the blow of the coronavirus pandemic until the end of October, Labour Minister Zeta Emilianidou said....

235. KPMG Property Lending Barometer 2020

236. Apollo CEO investigated over Epstein ties

The CEO of Apollo Global Management, whose affiliates acquired billions of bad debt in Cyprus, is being investigated over alleged financial ties to Jeffrey Epstein...

237. A second lockdown would be a grim financial equation

With the rise in coronavirus cases which are mainly located within the local community and not just at the country’s points of entry, whispers of a second lockdown looming have resumed....

238. Cyprus to draw over €2.7b from EU pandemic recovery fund

European Union leaders reached a deal on a massive stimulus plan for their coronavirus-blighted economies at a pre-dawn meeting on Tuesday after a fractious summit that went through the night and into its fifth day....

239. EU summit breaks up after all-night talks, to resume later

A marathon European Union summit has broken up temporarily in the fourth day of acrimonious haggling over an unprecedented 1.85 trillion-euro ($2.1 trillion) EU budget and coronavirus recovery fund to tackle the crisis. The weary leaders were scheduled to resume the meeting Monday afternoon....

240. Moody's: Payment holidays shield Cyprus banks in 2020, but deterioration likely in 2021

Around one third of Cyprus banks’ gross loans were deferred as a result of the coronavirus pandemic, the Moody’s rating agency said Monday, noting that while the payment holiday may shield local banks in 2020, asset quality deterioration is “still very likely next year.”...