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1. Jumbo buys out shopping mall from Eurobank in €10.8M deal

Retail heavyweight Jumbo has expanded its footprint in Greece, finalizing a €10.8 million cash deal to buy out the VESO MARE shopping center in Patras from Eurobank....

2. Cyprus to plan market return despite global uncertainty

Cyprus will begin planning its return to international financial markets in September, aiming for a fourth-quarter re-entry, officials confirmed....

3. Jumbo eyes Larnaca and Protaras for future expansion, but no timeline yet

Retail giant Jumbo has confirmed its interest in opening two new stores in Cyprus, one in Larnaca and another in Protaras, but clarified that there’s no set plan or timeframe at this stage. ...

4. How Assad’s regime stashed millions while Syria crumbled

It turns out, while Syria was crumbling under war and sanctions, Bashar al-Assad’s regime was quietly flying millions in cash to Moscow....

5. FT: Global stock markets tumble amid US recession fears

Global stock markets experienced significant declines on Monday as concerns about a potential US recession led investors to abandon risky assets....

6. Greek olive oil producers reject bulk sales, thrive in export market

They knew the easy way. They could have effortlessly sent their oil in bulk to Italy....

7. Cyprus navigates economic uncertainty with strong economic reserves

Cyprus is sitting pretty with a lot of cash in the bank, and it's good news for handling any economic bumps in the road. The government's stash of nearly €2.83 billion can cover a big chunk of its debts due in the next year....

8. Trump's $175M bond halts NY fraud case collection

Former President Donald Trump has taken action in his New York civil fraud case, posting a $175 million bond on Monday. ...

9. Winter 2024 brings 17% boost in energy production

Energean recorded new production growth in the first two months of 2024. Specifically, the company said in a statement that from 123 thousand......

10. Is the digital Euro the ECB's game-changer or a banks' ally?

The digital euro would not be a threat to the role of banks as financial intermediaries, Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) and ECB Governing Council member, has said, stressing that the digital euro will be issued and guaranteed by the ECB and not at the level of the member state....

11. Cypriot national injured in billion-dollar money laundering sweep

Singapore law enforcement authorities disclosed on Thursday that a Cypriot national sustained injuries while attempting to evade capture by leaping from a second-floor balcony within an affluent district, marking one of the most significant money laundering cases to date. ...

12. Banking on success: Greek and Cypriot banks show remarkable credit improvement

Fitch Ratings released a new report on Monday stating that the credit profiles of Greek and Cypriot banks have significantly improved over the past year due to de-risking and restructuring....

13. 2023 will be the year banks dole out dividends

Apart from entering 2023 with inflationary tendencies and following a year with a geopolitical crisis due to the Ukrainian one, it is expected to be the year when the term "dividend distribution,"...

14. Finance Ministry: 'Cyprus economy will not enter a recession'

There will be a significant slowdown in economic activity next year, we will be affected by increased energy prices and borrowing costs, but "inflation in Cyprus is being reined in at lower levels" compared to other European member states, ...

15. EC projects economic slowdown and rising inflation in Cyprus

The European Commission has revised its economic projections for Cyprus citing a downward trend due to the effects of Russia’s invasion of Ukraine and the associated sanctions against Moscow on the island’s tourist and services sector....

16. Cyprus is losing its Russians, confronting existential questions about its economy

For decades, Cyprus built an economy that courted Russians — Russian tourists, Russian investors, Russian oligarchs. ...

17. 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....

18. Policy priorities unaffected by pandemic, FinMin says

Despite the crisis of the Covid-19 pandemic Cyprus’ economic policies remain the same, targeting macroeconomic and financial stability, prudent fiscal policies, and establishing a competitive, business-friendly regulatory environment of high standards, Minister of Finance Constantinos Petrides said on Thursday....

19. EU ‘very clear’ on expectations from Turkey for de-escalation

The message, the expectations, the timeline and the consequences of not acting towards a de-escalation of tension in the Eastern Mediterranean were “made clear” to Turkey, both via the informal Foreign Affairs Council last week in Berlin and in the telephone call on Monday between EU High Representative Josep Borrell and Turkish Foreign Minister Mevlut Cavusoglu, according to EU foreign policy spokesman Peter Stano....

20. Cyprus public debt spikes to €24.5 billion due to Covid-19 crisis

Cyprus General Government debt spiked to €24.56 billion according to official data in April, reflecting the large debt issuances by the Finance Ministry to mitigate the impact of the coronavirus outbreak to the economy....

21. The crisis is here and should not be underestimated, FinMin warns parties

As political parties continue to quarrel over a bill seeking to release government funds as guarantees for loans to businesses hit affected by the coronavirus outbreak, Cyprus Minister of Finance Constantinos Petrides warned that “the crisis is here and should not be underestimated.”...

22. EU governments risk clash with EU exec in bid to save tourism season

European Union governments risk a clash with the EU executive arm over their support for travel firms issuing vouchers for cancelled holiday deals without giving customers the option of cash refunds as required by EU law, diplomats said....

23. How Russian uncapitalism works

Like a private equity firm enacting an acquisition-led ‘roll-up’ in a fragmented sector, Putin and Co in Russian have been busy in recent years quietly taking scores of small banks into state ownership...

24. Greek corporations rush to issue bonds amid record low yields

The easing of Greek state bond yields to record lows has opened the way to international markets for major Greek corporations too, as they can now take the opportunity to reduce their cost of borrowing. ...

25. CYTA forecasts budget deficit for 2019

26. Cyprus prepares to tap international markets after early repayments

27. Energean commits to Eastern Mediterranean

Energean is seeking approval from Cyprus for the Greek oil and gas firm to build a pipeline from its Israeli offshore gas fields and import 0.5 to 1 billion cubic meters of gas a year to the island...

28. Cyprus recovery is being recognised by international agencies

Fitch does not currently anticipate developments with a high likelihood of leading to a downgrade...

29. Privatisation of Co-op may lead to the creation of a 'bad bank'

A process launched by the nationalised Cooperative Cyprus Bank may lead to the creation of an Asset Management Company also known as a bad bank ...

30. Cyprus Cooperative Bank gets €2.5 billion deposit

The Cyprus government says it is depositing €2.5 billion at the Cooperative Bank of Cyprus, as part of a broader plan to eliminate uncertainty among depositors in the wake of a privatisation bid...