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271. Deposit interest rates remained close to zero levels in June

Deposit interest rates remained at close to zero levels in June with lending rates showing small variations, according to data released on Tuesday by the Central Bank of Cyprus (CBC)....

272. Consulco’s London Credit Fund keeps making 4% p.a. for its Euro investors

Consulco’s London Credit Fund has been reaching and exceeding its annualized target return of 4,00% on Euro since its inception. ...

273. ECB raises interest rates .5%, with further rate hikes on the horizon

The European Central Bank (ECB) increased interest rates by more than expected on Thursday, raising its benchmark deposit rate by 50 basis points to zero percent, impacting the Cyprus banking system and local borrowers....

274. Slashed tires slow down finance minister

The tires of a vehicle belonging to the Cypriot finance minister were slashed over weekend, with police saying they were investigating the incident...

275. Minister: Ukraine needs assurances to resume grain exports

The Ukrainian foreign minister says grain exports from his country’s ports won’t resume without security guarantees for ship owners, cargo owners and Ukraine as an independent nation....

276. Boris Johnson vows to fight on amid growing wave of resignations

Britain's Boris Johnson defiantly vowed on Wednesday to fight on against growing calls for him to resign as prime minister, but his pledge to keep going was met with scornful laughter at a parliamentary appearance....

277. A total of €362.9 million euros in new loans recorded in May

A total of €362.9 million euros in new loans were recorded in May, according to data released by the Central Bank of Cyprus on Tuesday. The increase in new loans is mainly due to both an increase in loans for over €1 million and loans for the purchase of homes....

278. Credit Suisse guilty of money laundering

Credit Suisse has been found guilty and fined for involvement in money laundering related to a Bulgarian drugs ring....

279. Russia defaults on foreign debt for the first time since 1918

Russia has defaulted on its foreign debt for the first time in more than a century as the country can't pay creditors due to sanctions over the war in Ukraine, according to media reports. ...

280. Germany a step closer to rationing after Russia cuts gas supplies

The German government formally placed its energy market on a war footing Thursday over Russia's sharp reduction of gas supplies, telling households to reduce consumption and warning that industrial output will be hit. ...

281. Can something really come from Nothing?

A consumer electronics start-up called Nothing has secured financing of more than $200mn to launch its debut smartphone, in the first attempt for several years by a newcomer to crack a market dominated by Apple and Samsung....

282. Drug squad chief suspended after warden complaint

Lack of clarity continued to rule the day in the Republic of Cyprus following allegations against the drug squad chief, who was suspended from duties on Wednesday after the prison warden accused him of illegal activities...

283. The end of an era as Revlon files for bankruptcy

The US cosmetics group Revlon has filed for bankruptcy protection after battling supply chain problems and failing to compete with celebrity-backed and social media-savvy upstarts....

284. US Fed raises interest rates by .75%, largest hike in 30 years

The US central bank has announced its biggest interest rate rise in nearly 30 years as it ramps up its fight to rein in soaring consumer prices....

285. The dilemmas of war and pandemic

Cyprus is a small country with a large export sector of services, which makes it vulnerable to its external environment. An external shock is felt faster and more intensely. ...

286. Myth-buster: IFRS 17 an accounting standard for insurance contracts

As the title attests, this short article aims at busting the myth which states that IFRS 17 – Insurance Contracts is only relevant for insurers or for companies regulated as insurance entities. ...

287. Cyprus grieves over loss of beloved minister

Cypriot President Nicos Anastasiades says his entire Cabinet was “crushed” by the death of Labor Minister Zeta Emilianidou, whose funeral is to be held on Friday in Nicosia...

288. The biggest scam in higher education - the master's degree

It's graduation season. Over the past couple of weeks, some 2 million college students have earned their bachelor's degrees and headed off to the next stage of their lives....

289. CBC: New loans drop by almost 50% in April

Cypriot banks granted 50% fewer loans this month in comparison to last month due to a sizeable reduction in new housing loans....

290. Europol sex trafficking probe lands Cypriot farmer in prison

An elderly farmer in Cyprus was sentenced to ten years behind bars in a sexual exploitation case, after a joint law enforcement operation with Europol led to the discovery of at least two victims in the island’s agricultural sector...

291. Ikea to start selling solar panels in US stores

The popularity of solar has gone through the roof—and now IKEA is making it easier to install some panels on your roof....

292. Lebanese banks in Cyprus to shut down amid the country's financial crisis

Branches of Lebanese banks operating in Cyprus will shut down following a decision by the country’s Central Bank. A Central Bank of Cyprus (CBC) official has confirmed to CNA the decision taken by the country’s banking regulator....

293. EU official calls on Cyprus to implement recovery plan or lose funding

A European Commission official on Monday urged the Cypriot authorities to proceed with the implementation of Cyprus’ National Recover and Resilience plan, warning that Cyprus risks losing EU funds in case of new delays....

294. EY launches 2022 Better Working World Data Challenge to help tackle biodiversity loss

295. Cacophony emerges as Cyprus stalls foreclosure bills

The finance ministry in the Republic of Cyprus is scrambling for new ways to overcome an awkward impasse on two crucial foreclosure bills, after opposition parties blamed the administration for not doing enough to have the European Commission go along with amendments to protect bad loan guarantors...

296. How meritocracy reinforces inequality

We normally have unexamined certainties to guide us through daily life. But few people are so gifted at shaking those certainties than Michael Sandel....

297. Cyprus will request EC permission to implement mortage-to-rent scheme

Cypriot authorities plan to submit in June an official request to the European Commission for the implementation of a mortgage-to-rent scheme, aiming to address non-performing loans collateralized by primary residences and SME business premises with an estimated contractual value of €3 billion....

298. Lower interest rates on deposits and consumer loans

A decrease in interest rates on deposits and consumer loans and a marginal increase in the interest rates on mortgages can be seen in the data published on Thursday by the Central Bank of Cyprus for March 2022....

299. Consulco’s London Credit Fund Q1 2022 Results

Consulco achieved a remarkable first quarter of 2022, during which our London Credit Fund achieved a dividend of £ 13.07 per unit of its Class A shares, $ 11.14 per unit for its Class C shares and € 9.00 per unit for its Class E shares. ...

300. The MSCI 2021 results are in - Consulco Outperforms the Market

The MSCI results are now available, and Consulco’s London commercial real estate portfolio has outperformed the Greater London Retail property market in all time frames over 3, 5 & 10 years, achieving a 7.5% total return per annum since inception....