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451. Finance Ministry's new measures for the vulnerable in the works

The Finance Ministry is considering new measures to support particularly the vulnerable groups of society amid the continuing pressures from high prices and inflation, Makis Keravnos Minister of Finance said on Monday, adding the measures were in the pipeline irrespective of the rating upgrades by Moody’s and DBRS Morningstar....

452. Real estate boom in Greece and Cyprus

The real estate landscapes of Greece and Cyprus are undergoing significant transformations, with both nations showcasing promising growth and recovery. However, beneath the surface of these top-line numbers, there are underlying challenges and disparities that need to be addressed....

453. 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....

454. CBC Governor Herodotou reveals breakthrough in digital finance

The Central Bank of Cyprus has completed the tender for a new digital platform for customer compliance, said CBC Governor Constantinos Herodotou, speaking at an event organized by the Association of Cyprus Electronic Money and Payment Institutions, on Thursday afternoon....

455. SYPRODAT and Government join forces to end non-performing loans

Finance Minister Makis Keravnos expressed satisfaction with the progress made in divestments and the reduction of non-performing loans (NPLs) during a meeting at the Ministry of Finance with SYPRODAT President Costas Melas and Association Director Jenny Papacharalambous....

456. Consulco’s London Credit Fund; Existing & New Investment Opportunities

457. €5,000 fine for flashing your lights? This is Cyprus!

The news quickly spread, landing somewhere between the wildly unbelievable and downright absurd. Yet, in Cyprus, a place where the unusual is just another day in paradise, it gained traction....

458. Supreme court frees billions in assets

The Supreme Court unanimously overturns Laiki Bank's secured decrees, releasing billions in assets belonging to Andreas Vgenopoulos, Marfin Investments Group Holdings S.A, Efthimios Buloutas, and Kyriakos Cook....

459. 135% debt reduction sparks hope for economy

According to the latest data from the Central Bank of Cyprus, the private debt-to-GDP ratio has shown a significant decrease from its peak at the end of the first quarter in 2015 to the end of March 2023. ...

460. SSM chief urges banks to be prudent amidst soaring profits

The Chairman of the Single Supervisory Mechanism (SSM), Andrea Enria, has emphasized that the gains from high interest rates for banks will eventually come to an end....

461. EU passes borrower protection law: Your rights when borrowing money

The European Parliament (EP) has voted on rules to keep people safe when they borrow money for things like credit cards or loans....

462. Big on big issues and small on small issues

Are you tired of scrolling and reading throughout long and multiple pages filled with every single detail of each accounting policy your entity of interest is using the last couple of years, only to find what really matters for you in page 25? Don’t get me wrong! I do that for living....

463. Cash-only trend grows amid rising inflation in occupied territories

The prevalence of merchants and shopkeepers unwilling to accept credit cards is on the rise in the occupied territories, warns columnist Jenq Mutluyakali in a Yeni Dusen article....

464. Recovery and Resilience measures target non-performing loans

In a move to address Non-Performing Loans (NPLs) and maximize European funds, Minister of Finance, Makis Keravnos, announced the approval of an action plan under the Recovery and Resilience Plan. ...

465. Consulco: London Credit Fund’s new investment opportunity secured against UK commercial properties

The London Credit Fund New Compartment offers even higher returns to investors....

466. Former Finance Minister continues to question EuroAsia project

Former Finance Minister Constantinos Petrides has returned to the issue of the Eurasia Interconnector, expressing concerns and raising important questions. In a post on the "X" platform, he highlighted the need for transparency and clarity surrounding this significant and costly project....

467. Fueling futures: Scholarships in energy studies await!

Following the Ministry of Energy, Commerce, and Industry's announcement regarding scholarships for studies related to Hydrocarbons (Natural Gas and Oil), Renewable Energy Sources (RES), and Energy Transition,...

468. Hellenic Bank reports impressive profit surge of €160.2 million

Hellenic Bank had a really good financial run in the first half of 2023. They made a profit of €160.2 million, which is a huge jump of 203% compared to last year at the same time....

469. Sailing back to the future as WindWings propel shipping's green revolution

It seems a bit silly, but merchant shipping which long ago ditched its sails for internal combustion is now switching back, but not to any sail you’ve ever seen....

470. Rocking the boat, a not so Cypriot tradition.

You know, there's been quite a buzz about the whole corruption scene in Cyprus. It's kind of ironic, really – this beautiful little country, seemingly full of potential, yet tangled up in this mess. ...

471. Bank of Ireland glitch turns 'no funds' into a cash fiesta

Bank of Ireland is facing a crisis after thousands of customers descended on ATMs yesterday evening attempting to take advantage of a major IT glitch....

472. Futuristic refueling as London's gas-free Shell station sets a new standard

One London gas station has totally reimagined what a refueling area can look like....

473. Alert issued amid spate of prepaid card scams

A total of five cases have been reported between August 4 and 10 about scams that led to withdrawals of thousands of euros through prepaid credit cards, Police spokesperson, Christos Andreou, told CNA on Friday, calling on businesses that sell such cards to be alert and cautious....

474. Court dismisses depositors' claims in controversial Laiki bank case

On August 10, 2023, the Nicosia District Court rendered a judgment dismissing a claim pertaining to the impairment of plaintiffs' deposits in the former Laiki Bank back in 2013. The plaintiffs had brought the case to challenge the constitutionality of the resolution measures implemented by the State in accordance with the "Resolution of Credit and Other Institutions Law of 2013."...

475. Record surge in loan renegotiations amidst rising interest rates

Loan renegotiation in the Cyprus banking system spiked to record levels in the first half of 2023, driven mainly by the repeated interest rate hikes by the European Central Bank (ECB) in its effort to tackle soaring inflation....

476. Electrifying Cyprus: Only 2.5K EVs drive the change

A total of 26,462 vehicles have been registered with the Department of Road Transport between January and July 2023, according to the most recent data released by the Department of Statistics. Out of the overall new registrations, 701 were electric vehicles, with 502 of them being private saloon cars....

477. From burps to burgers: The climate-friendly cows bred to belch less methane

When Canadian dairy farmer Ben Loewith's calves are born next spring, they will be among the first in the world to be bred with a specific environmental goal: burping less methane....

478. Eurobank Cyprus reports soaring profits amid rising interest rates

Eurobank Cyprus posted soaring profitability after tax for the first half of 2023 with net profits approaching the profitability of full year 2022, due to rising interest rates and the high remuneration of its liquidity held at the ECB....

479. Greece's wildfire crisis: Severity and root cause

Roaring fires have ripped through Greece, belching thick clouds of choking smoke and forcing tens of thousands of people to flee....

480. Farewell to an icon: Legendary singer Tony Bennett passes away at 96

Renowned performer Tony Bennett, known for his unique interpretations of the "Great American Songbook," passed away on Friday at the age of 96....