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31. 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...

32. Dr. Anastasatos forecasts bright future for Cyprus economy

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....

33. Cyprus real estate booms in Q3 2023

Cyprus experienced a real estate boom in the third quarter of 2023, with housing prices soaring and a surge in demand from both domestic and foreign buyers, according to data released by the Central Bank of Cyprus (CBC) on Wednesday....

34. Trump's 'miracle' reshapes abortion politics

In a recent Fox News town hall in Des Moines, Iowa, former President Donald Trump proudly claimed credit for the 2022 overturning of Roe v Wade, describing it as a ''miracle.''...

35. EU implements new VAT transparency rules targeting e-commerce fraud

The EU’s new transparency rules against Value-Added Tax (VAT) fraud have come into effect starting on January 1st, the European Commission has announced....

36. 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....

37. New details emerge in Menendez's Qatari bribery allegations

In a complex legal saga, U.S. Senator Bob Menendez finds himself ensnared in deeper troubles as fresh allegations unfold....

38. Finance Ministry undergoes administration overhaul

39. Annita Demetriou pays tribute to Jacques Delors

The EU has lost one of its most authentic visionaries and architects of modern European integration, Cyprus House President Annita Demetriou said, over the death of former Commission Head Jacques Delors. ...

40. Prague University shooting leaves 14 dead in tragic massacre

In a horrifying incident, a lone gunman unleashed a barrage of gunfire in the philosophy department building of Charles University in downtown Prague, ...

41. 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....

42. AG appeals ruling holding state liable for 2013 Laiki Bank ''haircut''

The Attorney General of the Republic of Cyprus has filed an appeal challenging a decision by the Limassol District Court dated November 8, 2023....

43. CBC warns of non-performing loan surge amid economic challenges

The Central Bank of Cyprus (CBC) issued a warning on Monday, cautioning about the potential influx of non-performing loans (NPLs) driven by high-interest rates and inflation, which are impacting households' disposable income and businesses' profitability....

44. Themis Themistocleous signals potential 2024 interest rate cut

In their ''Year Ahead 2024'' forecast, analysts at Swiss financial giant UBS anticipate a slowdown in the strength of the US economy throughout 2023. ...

45. One to three-star hotels dominate Greece’s accommodations

Three in four Greek hotels belong in lower categories of one to three stars, representing 50% of the country’s total capacity in terms of rooms, according to data from the Institute of Tourism Research and Forecasts (ITEP) of the Hellenic Chamber of Hotels....

46. Non-performing loans take a €95M dive

As of the end of September 2023, the total Non-Performing Loans (NPLs) in the banking system of Cyprus further decreased to €2.02 billion compared to €2.08 billion at the end of August. ...

47. Cyprus economy receives positive rating boost

Fitch, the International Rating Agency, upgraded Cyprus' long-term rating to positive, citing economic resilience and fiscal strength. The agency affirmed the 'BBB' rating, previously upgraded in March 2023. ...

48. 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....

49. Mortgage rates soar to 4.91%, deposits decline in October 2023

Mortgage interest rates in Cyprus climbed to 4.91% in October 2023, according to data released by the Central Bank of Cyprus in its November 2023 edition of Monetary and Financial Statistics....

50. Government to appeal Limassol court granting compensation for Laiki Bank depositors

In a significant legal development, the Attorney General of the Republic of Cyprus is set to file an appeal against the recent decision of the Limassol District Court....

51. Bank of Cyprus returns to London for investment talks

Just two months after its last visit to the heart of investment interest, the Bank of Cyprus is making waves again in London....

52. Cyprus proposes lifeline to Gaza in 'Amalthea' project

The debate on the humanitarian corridor in Gaza, from Cypriot territory within the context of the 'Amalthea' project, represents Cyprus' attempt to assert 'flag projection' and a broader diplomatic role in the evolving situation in the Middle East sub-system post-October 7....

53. 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....

54. Cyprus gets BBB+ boost in latest ratings, but challenges persist

The German Scope Ratings have given a positive sign for Cyprus by upgrading the country to BBB+ last Friday from the previous BBB while keeping the outlook of the economy stable. ...

55. Turkey pardoning is as American as apple pie

Continuing a tradition that dates back to 1947, President Joe Biden celebrated his 81st birthday on Monday by pardoning two turkeys, Liberty and Bell. ...

56. Hellenic Bank rakes in €240.7M in 2023's first 9 months

Hellenic Bank announced on Tuesday a profit of €240.7 million for the first 9 months of 2023....

57. ''Voice'' council president unveils rise in child abuse amidst cyber surge

In an interview with ''SPOR FM 95.0'' on the ''DIASPORA NEWS'' show, Anastasia Papadopoulou, President of the ''Voice'' Council, discussed the escalating flow of complaints related to the sexual abuse of children and minors. ...

58. Creditors dispute foreclosure laws and strategic defaults

Creditors reluctantly agree to extend the freeze on main residence foreclosures up to €350k, but tensions arise over proposed legislative changes....

59. Create a 'superministry' to reduce bureaucracy

In Cyprus, the proliferation of committees, excessive bureaucracy, and overlapping responsibilities of high-ranking officials have reached unprecedented levels, especially when problems are on the rise....

60. 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....