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181. 'Structural Integrity Certificates' should be made mandatory

The recent earthquakes in neighboring countries, as well as the aftershocks, felt in Cyprus, have brought to the forefront what we have been saying for years: the need to check the suitability of all our buildings on a regular basis....

182. UBS steps in to buy rival Credit Suisse

Some of the world's largest central banks came together on Sunday to stop a banking crisis from spreading as Swiss authorities persuaded UBS Group AG to buy rival Credit Suisse Group AG in a historic deal...

183. Partnership between New York Times and Kathimerini turns 25

Aristides Alafouzos, the late owner of Kathimerini, loved challenges. In 1988, a critical period for the Greek press, he bought Kathimerini, ensuring that the prestige and integrity of this historic newspaper would be preserved. ...

184. It's been 10 years since the haircut

In March 2023, Cyprus will mark 10 years since the deposit haircut. Ten years after the 2013 crisis, Cyprus looks completely different. During this decade, many changes have taken place and its citizens have experienced many different situations,...

185. Real estate trends in 2023

Increased inflation, rising interest rates, rising building costs, rising property values, a slight decline in new development approvals, a slight decline to stabilization in the unemployment rate, a slight increase in GDP, and a slight decline in private lending are just a few indicators of the (very) general economic picture....

186. World's most expensive home up for sale

London’s most expensive home is up for sale, according to Quartz. Set on four private acres in Regent Park, one of the city’s eight royal parks, the home’s reported asking price is about $300 million, or £250 million....

187. Two individuals stripped of French nationalities for planning attacks

The government of France has stripped two dual nationals of their French nationality after it was found out that they were planning attacks....

188. Thinking of investing in real estate? Don’t do it.

A lack of financial literacy can lead people to consider investing in direct real estate. This a provocative statement to say the least, so let me explain....

189. Sales to foreign buyers hit 16 year high

During January 2023 foreign buyers deposited 594 contracts of sale at Land Registry offices across the island. Moreover, these accounted for 54% of all sales; the first time since 2007 that the number of foreign sales has exceeded domestic sales....

190. Eurostat: Cyprus had the highest stock of NPL's in 2021

In 2021, Cyprus remained the country with the highest stock of non-performing loans (assets) of the general government, at 20.2% of GDP, according to data released by Eurostat, the statistical service of the EU....

191. The new president and finance minister will face new challenges

We are only a few days away from voting for the new President of the Republic. ...

192. CBC: Household debt at 77% of GDP

The household debt ratio stood at 77% of the Gross Domestic Product (GDP) at the end of September 2022, marking a slight decrease compared to the previous quarter, due to the increase in GDP, according to data published by the Central Bank of Cyprus on its website on Tuesday, in the "Quarterly Financial Accounts" edition, for the reporting quarter ending September 2022. ...

193. A large number of foreclosure notices to be sent tomorrow

Today, Tuesday, January 31, 2023, marks the end of the most recent three-month suspension of divestments imposed by a resolution of the House of Representatives. ...

194. More people choose bankruptcy to get a second chance

Bankruptcy applications, based on Law 4818/2021, are coming thick and fast from individuals with or without commercial activity, as they are unable to repay their debts to banks and insurance funds....

195. Riyadh wants to acquire Formula 1

Whereas we used to say that the Chinese were buying everything, it appears that the Saudis are now following suit. According to well-informed sources cited by the news agency Bloomberg, ...

196. Herodotou calls for increased vigilance to avert private debt defaults

Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) called for the preservation of fiscal space, as the economic prospects are deteriorating due to Russia’s war in Ukraine....

197. Debate: The disagreements, the tensions and what united the candidates

The RIK debate on Thursday night (19/01) ended with disagreements, tensions, and characterization among the participants, who included Averof Neophytou, Nikos Christodoulides, Andreas Mavroyiannis, and Christos Christou. ...

198. Wargaming intends to 'hold on' to Hellenic

Wargaming Group, a Cypriot technology company, intends to remain a shareholder in Hellenic Bank. Despite selling a 13.41% stake to Eurobank in early December, Wargaming says its goal now is to focus on what it says it "does best," which is creating good games....

199. China's population shrinks for first time in 60 years

China's population fell last year for the first time in six decades, a historic turn that is expected to mark the start of a long period of decline in its citizen numbers with profound implications for its economy and the world....

200. Hollywood executives brace for ‘year of turmoil’ in 2023

Hollywood executives are bracing for a brutal “year of turmoil” as the entertainment business faces the combined threat of an economic recession, slower streaming growth, a cinema industry on life support and a potential writers’ strike....

201. EY Future Consumer Index: consumers opt for caution this holiday season

EY Future Consumer Index: consumers opt for caution this holiday season to cope with rising cost-of-living and environmental concerns, new data finds ...

202. The fierce battle for second place

203. 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, ...

204. ECB raises interest rates by 0.5%

Christine Lagarde warned markets not to expect an early end to rate rises next year, on a day when the European Central Bank and the Bank of England lifted borrowing costs to their highest levels in 14 years....

205. Boris Becker released from UK jail, will be deported

Former Wimbledon champion Boris Becker has been released from jail today and will be deported from the UK, according to the PA news agency....

206. Consulco launches its direct real estate investment services

Consulco, the London investment specialist has launched its direct real estate investment services assisting overseas investors to acquire and manage residential properties in central London. ...

207. Cypriot parliament approves state budget

The House of Representatives plenary approved the 2023 state budget on Thursday evening, the last to be tabled by the 10-year administration of Nicos Anastasiades...

208. The 2023 Budget in the vortex of the elections

The government of President Anastasiades has just submitted its final budget, for 2023. DISY will undoubtedly support the budget, but it will be interesting to see what position it will take if and when the polls are confirmed....

209. Nicosia stays course as economic growth loses steam

Cypriot public finances have improved due to increased growth, although they are expected to be adversely affected due to a projected slowdown in the next few months, according to the 13th Post-Programme Surveillance Report for Cyprus...

210. €76.4m profit in first 9 months of 2022 for Hellenic

Hellenic Bank announced a profit of €76.4 million for the first 9 months of 2022. According to the Group Financial Results for the nine-month period, ...