https://knews.kathimerini.com.cy/en/news/cyprus-central-bank-holds-1-buffer-rate-to-safeguard-banks
The Central Bank of Cyprus (CBC) has maintained the countercyclical buffer (CCyB) rate to be observed by commercial banks at 1%, with effect as of June 2, 2024....
https://knews.kathimerini.com.cy/en/news/banks-february-deposits-rise-by-€65-4-million
Total deposits in February recorded a significant net increase by €65.4 million following a decrease of €366.0 million in the previous month......
https://knews.kathimerini.com.cy/en/business/business-loans-drop-home-loans-steady
The Central Bank of Cyprus reported on Wednesday that the net demand for corporate loans continued to decrease in the last quarter of 2023, marking a consistent downward trend since the first quarter of 2022, although at a slower pace than anticipated earlier in the year....
https://knews.kathimerini.com.cy/en/news/cyprus-economic-resilience-earns-high-credit-rating-confirmation
International rating agency Morningstar DBRS has confirmed Cyprus’ BBB (high) long-term credit rating with a stable trend, noting that favourable economic prospects balance downside risks.
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https://knews.kathimerini.com.cy/en/news/who-will-lead-cyprus-central-bank
An intense behind-the-scenes battle is unfolding regarding the future of Cyprus' central banker as the term of the current governor, Constantinos Herodotos, draws to a close in less than 20 days....
https://knews.kathimerini.com.cy/en/news/february-s-financial-flaws-expose-16-bad-checks-€19-388-lost
In February 2024, a total of 16 bad cheques, amounting to €19,388, were issued, with 9 individuals (7 legal entities and 2 individuals) being listed in the preliminary registry of the Central Information Register (CIR) for dishonoured cheques....
https://knews.kathimerini.com.cy/en/comment/opinion/what-are-they-afraid-of
Transparency is not merely a good thing; it is essential. However, with the exception of one, credit buyout companies seem unwilling to disclose their financial results, keeping them shrouded in secrecy....
https://knews.kathimerini.com.cy/en/news/the-green-agenda-cyprus-summit-on-may-20th
Digital Agenda Cyprus Summit and the KATHIMERINI newspaper are proud to present the organization of the "Green Agenda Cyprus Summit" on May 20....
https://knews.kathimerini.com.cy/en/news/cyprus-a-familiar-economic-space-for-greece
In an interview conducted by Kathimerini reporter Panayiotis Rougalas, Greece's Central Bank Governor, Mr. Yiannis Stournaras, sheds light on various aspects of the country's monetary policy and economic landscape....
https://knews.kathimerini.com.cy/en/news/unemployment-rate-drops-while-inflation-inches-up
The latest data from the Cyprus Statistical Service reveals a positive shift in the country's economic landscape, with the unemployment rate falling to 5.9% in the fourth quarter of 2023, compared to 6.9% in the same period the previous year....
https://knews.kathimerini.com.cy/en/news/ecb-considers-rate-cut-despite-falling-inflation
The European Central Bank is set to keep interest rates at record highs on Thursday and take baby steps towards cutting them in the coming months as inflation continues to fall despite stubbornly high underlying price pressures....
https://knews.kathimerini.com.cy/en/news/kedipes-preps-for-major-loan-sell-off-boosting-cyprus-banks
In a strategic move to streamline its assets, KEDIPES is gearing up to offload a second batch of performing loans, hot on the heels of its €58 million deal with the Bank of Cyprus....
https://knews.kathimerini.com.cy/en/news/handmade-100-euro-bills-flood-european-cities
A group of counterfeiters which had been producing 100-euro bills was busted in a joint police operation involving Europol and police forces in four countries, including Greece....
https://knews.kathimerini.com.cy/en/news/turkey-s-february-inflation-hits-67-07-raises-policy-concerns
Turkey's annual inflation rate surged to 67.07% in February, surpassing expectations and sustaining pressure for a stringent monetary policy. Finance Minister Mehmet Simsek acknowledged that inflation would remain high in the coming months due to base effects and the delayed impact of previous rate hikes....
https://knews.kathimerini.com.cy/en/news/deposit-rates-down-mortgage-rates-up
Deposit interest rates dropped in January, whereas lending rates rose except interest rates for consumer lending, according to data published by the Central Bank of Cyprus....
https://knews.kathimerini.com.cy/en/news/central-bank-predicts-2-2-gdp-growth-in-2023
The Central Bank of Cyprus (CBC) expects GDP growth of 2.2% in 2023, compared to significant growth of 5.1% in 2022, while for the years 2024-26 it expects GDP growth of 2.6%, 3.1% and 3.2%, respectively....
https://knews.kathimerini.com.cy/en/news/eib-turns-down-funding-for-great-sea-interconnector-project
The European Investment Bank (EIB) has declined to finance the Great Sea Interconnector project, linking Cyprus, Greece, and Israel. Kyriakos Kakouris, EIB Vice President, confirmed the decision, stating that no new funding request has been submitted by the Republic of Cyprus....
https://knews.kathimerini.com.cy/en/news/cypriots-saving-less-as-loan-numbers-fluctuate
In January 2024, the total deposits in Cyprus reached €51.9 billion, experiencing a net decrease of €366.0 million compared to the previous month....
https://knews.kathimerini.com.cy/en/news/banks-urged-to-accelerate-loan-restructurings
The governor of the Central Bank has shed light on the strategy for restructuring Non-Performing Loans (NPLs) and navigating credit risk management....
https://knews.kathimerini.com.cy/en/news/parliament-passes-law-to-remove-property-restrictions-in-occupied-areas
In a unanimous decision, the Plenary Session of the Greek Parliament passed a law abolishing the right of encumbrance of ''memorandum'' on properties held by banks and credit acquisition companies, located in the occupied territories. ...
https://knews.kathimerini.com.cy/en/news/european-central-bank-considers-rate-cut-spanish-governor-suggests
The European citizens should know that that the European Central Bank’s next move will be a rate cut, Governor of the Bank of Spain and ECB Governing Council member......
https://knews.kathimerini.com.cy/en/news/bank-of-spain-governor-to-engage-in-economic-talks-with-cyprus-officials
https://knews.kathimerini.com.cy/en/news/nicosia-s-boutique-hotel-scene-flourishes-amid-tourism-surge
Seeking accommodation in a hotel in Nicosia for February, the search yields 22 options. Narrowing the search by distance from the city center results in fewer choices, yet still satisfactory. Twelve boutique units, primarily small boutique hotels, emerge from the search on booking.com....
https://knews.kathimerini.com.cy/en/news/lagarde-warns-of-potential-economic-threats-to-europe-under-possible-trump-return
In a recent exclusive interview with CNN's Richard Quest, European Central Bank President Christine Lagarde cautioned Europe to brace itself for potential economic challenges......
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/macan-sets-new-standards-the-first-all-electric-suv-from-porsche
https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-gears-up-for-investment-talks-in-new-york
Bank of Cyprus has packed its bags for New York as it gears up to meet with the investment community at the Athens Stock Exchange's conference in collaboration with JPMorgan on the 25th of this month.
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https://knews.kathimerini.com.cy/en/news/eurobank-expands-scholarship-program-to-cyprus
Eurobank Group is bringing its long-standing ''Forward for Education'' initiative to Cyprus, unveiling a new chapter in the program's 21-year history....
https://knews.kathimerini.com.cy/en/news/cyprus-witnesses-356-bounced-cheques-yet-a-€1-7m-surge
In a recent disclosure, the Cyprus Central Bank unveiled a decrease in the issuance of uncovered checks during 2023, reporting a total of 356 compared to the previous year's 473.
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https://knews.kathimerini.com.cy/en/comment/opinion/can-cyprus-withstand-yet-another-crisis
The recent Houthi attacks on commercial vessels navigating the Red Sea have triggered another disturbance in the intricate web of the global supply chain...