https://knews.kathimerini.com.cy/en/business/new-lending-boosted-by-interest-rates-and-government-plans
A favorable landscape for Cypriot borrowers is taking shape in 2025, laying the groundwork for a strong year in new lending....
https://knews.kathimerini.com.cy/en/news/depositors-affected-by-2013-banking-crisis-to-be-compensated-in-may
Cypriots who lost their savings during the 2013 banking crisis will finally begin receiving compensation this May, according to Finance Minister Makis Keravnos. ...
https://knews.kathimerini.com.cy/en/business/investor-scammed-out-of-$58-000-in-cryptocurrency-fraud
The promise of easy profits through online investments lured a 50-year-old man into a sophisticated cryptocurrency scam, resulting in the loss of $58,000....
https://knews.kathimerini.com.cy/en/news/exxonmobil-to-begin-drilling-in-cyprus-eez-in-january-2025
ExxonMobil’s drilling rig is set to begin operations in Cyprus’ Exclusive Economic Zone (EEZ) in mid-January 2025, according to Energy Minister George Papanastasiou. The rig will target the "Electra" site in Block 5, with the drilling process expected to last approximately one month....
https://knews.kathimerini.com.cy/en/business/december-newsletter-of-k-treppides-co-ltd-13-12-2024
A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries. ...
https://knews.kathimerini.com.cy/en/news/banks-under-fire-how-public-pressure-forced-a-shake-up
Over the past decade, Cypriot banks have paid over €500 million to the state through a special levy known as the ''double tax.''...
https://knews.kathimerini.com.cy/en/business/ecb-announces-final-rate-cut-for-2024
The European Central Bank (ECB) has announced a 25 basis point reduction in interest rates, marking the fourth consecutive cut for 2024....
https://knews.kathimerini.com.cy/en/business/business-loans-on-the-rise-in-cyprus-but-consumer-borrowing-takes-a-hit
Cyprus experienced a rise in net new loans in October, driven primarily by businesses borrowing more, especially for amounts exceeding €1 million. ...
https://knews.kathimerini.com.cy/en/news/debate-intensifies-over-proposed-5-tax-on-bank-profits-in-cyprus
According to a report by Panayiotis Rougalas in today's 'Oikonomiki', a controversial proposal to introduce a 5% tax on bank profits in Cyprus is racing against time to be debated in Parliament before the Christmas recess....
https://knews.kathimerini.com.cy/en/business/intrakat-s-€1-million-debt-to-cypriot-subcontractors-sparks-legal-action
Greek-owned construction company Intrakat, which was contracted to build part of the Paphos-Polis Chrysochous motorway in Cyprus, is facing significant financial troubles, leaving behind nearly €1 million in debts to seven local subcontractors and suppliers....
https://knews.kathimerini.com.cy/en/business/cybersecurity-and-ict-risks-emerge-as-leading-drivers-of-operational-risk
Geopolitical tensions have significantly increased operational risks, particularly in the areas of cyber and digital threats, as well as risks related to money laundering and sanctions compliance....
https://knews.kathimerini.com.cy/en/business/november-newsletter-of-k-treppides-co-ltd-28-11-2024
A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries....
https://knews.kathimerini.com.cy/en/news/ancient-maritime-trade-between-cyprus-and-palestine-unearthed
In the summer of 2024, an excavation led by New York University at Maniki Harbour, near Agios Georgios Pegeias in Paphos, uncovered significant evidence of maritime trade connections between Cyprus and South Palestine in the 6th century AD...
https://knews.kathimerini.com.cy/en/business/laiki-bank-liquidator-raises-€90-8-million-for-depositor-compensation
According to a report by Panayiotis Rougalas in this Sunday's Kathimerini, the liquidator of the former Laiki Bank, Avgoustinos Papathomas, has achieved a key milestone in efforts to compensate creditors, particularly depositors who lost money during the bank’s 2013 collapse....
https://knews.kathimerini.com.cy/en/news/bank-of-cyprus-reports-€401-million-profit-surge
In the latest financial report, Bank of Cyprus has reported a solid profit of €401 million for the first nine months of 2024—a 15% jump from last year’s €349 million. ...
https://knews.kathimerini.com.cy/en/business/hellenic-bank-reports-€284-4m-profit-for-2024
Hellenic Bank reported a profit of €284.4 million for the first nine months of 2024, up from €240.7 million in the same period last year....
https://knews.kathimerini.com.cy/en/business/cyprus-faces-financial-imbalance-as-assets-fall-short-of-liabilities
As of December 2023, Cyprus' economy is navigating a complex financial landscape, with total assets in financial instruments reaching €869 billion. However, the country also faces a notable financial shortfall, with liabilities exceeding assets by about €29 billion....
https://knews.kathimerini.com.cy/en/news/ecb-cuts-rates-again-as-eurozone-inflation-and-economy-struggle
The European Central Bank (ECB) has cut interest rates for the third time, marking the first consecutive reduction in 13 years....
https://knews.kathimerini.com.cy/en/news/effort-to-create-new-cooperative-bank-in-cyprus-begins-with-ipo-search
The Cypriot company for the promotion of the cooperative movement is at the process of seeking an investment firm that would underwrite an initial public offering for the creation of a “small cooperative bank” in Cyprus that would replace the Cooperative Cyprus Bank which went into liquidation back in 2018, Panikos Hambas told CNA....
https://knews.kathimerini.com.cy/en/news/bank-profits-in-crosshairs-as-tax-talks-heat-up
The future of a special tax on bank deposits paid to the state may be heading for a shift, though a final decision is not guaranteed. ...
https://knews.kathimerini.com.cy/en/business/cyprus-investment-funds-grow-to-€9-4-billion-in-2024
Investment companies in Cyprus collectively manage assets worth €9.4 billion, with the amount growing by about 2.9% in the second quarter of 2024 but still below last year's figures....
https://knews.kathimerini.com.cy/en/news/avvakoum-monks-counterattack-with-book-church-the-mafia-state-of-cyprus
Monks deposed in connection with the Avvakoum scandal are preparing to fight back with a forthcoming book titled 'Church - The Mafia State of Cyprus'...
https://knews.kathimerini.com.cy/en/news/cbc-top-savings-interest-rate-in-cyprus-hits-2-45
In August 2024, the Central Bank of Cyprus reported that the highest interest rate for term deposits of up to one year for households reached 2.45%. ...
https://knews.kathimerini.com.cy/en/news/avvakoum-synodal-court-removes-two-monks-amid-misconduct-allegations
The Synodal Court of the Church of Cyprus has removed Archimandrites Nektarios and Porphyrios from their positions following allegations related to financial and moral misconduct at the Holy Monastery of Saint Abbacum. ...
https://knews.kathimerini.com.cy/en/news/cyprus-banks-hike-mortgage-rates-as-new-loans-drop-by-a-third-in-august
Banks in Cyprus raised the interest rates on home loans in August, while reducing the interest rates offered on household deposits, according to data released by the Central Bank of Cyprus on Wednesday....
https://knews.kathimerini.com.cy/en/news/cyprus-banks-have-€28-7-billion-in-cash-and-liquidity
The amount of liquidity in Cyprus's banking system rose to €28.7 billion in August 2024, according to the Central Bank of Cyprus (CBC). This increase was fueled by a growth in deposits alongside a decline in loans....
https://knews.kathimerini.com.cy/en/news/cyprus-faces-critical-challenges-in-key-energy-projects
Cyprus is grappling with pivotal energy projects at a crucial juncture. ...
https://knews.kathimerini.com.cy/en/news/ecb-set-to-cut-key-interest-rate-by-0-25-in-upcoming-meeting
The European Central Bank (ECB) is expected to reduce its key interest rate by 0.25% on Thursday, according to most economists in Greece and the Eurozone....
https://knews.kathimerini.com.cy/en/news/cyprus-sees-higher-borrowing-costs-lower-deposit-rates-in-july
Interest rates on consumer loans and mortgages in Cyprus increased in July, according to the Central Bank of Cyprus (CBC). The rate for consumer credit climbed to 6.67% from 6.18% in June, while the rate for home loans rose to 4.59% from 4.52%....
https://knews.kathimerini.com.cy/en/news/ancient-cypriot-settlement-reveals-child-burial-and-early-metallurgy
Excavations at the ancient Chalcolithic settlement of Chlorakas-Palloures in Cyprus have unveiled remarkable insights into life on the island 5,000 years ago,...
