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301. 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. ...

302. Deposits up by more than €0.5 billion in December 2022

Deposits in the Cypriot banking system rose by almost €590 million in December 2022 with total deposits in end-2022 amounting to €52 billion....

303. Banks are revising lending rates

Cypriot banks are preparing new loan rates in an effort to redesign the pricing of loans. In the first half of 2023, Cypriot banks will see significant changes in the pricing of new loans, accompanied by increases in interest rates, ...

304. Early data point to large gas deposits off Crete

Seismic data obtained so far by the Sanco Swift, the Norwegian exploration vessel leased by ExxonMobil, southwest of the island of Crete, allegedly point to the existence of large natural gas deposits in the area...

305. Finance Minister responds to CBS: 'Disinformation and fake news' (video)

The report on the CBS show '60 Minutes' about Russian oligarchs was referred to by the Finance Minister in his detailed response on the issue. ...

306. Cyprus Banks: Vulnerabilities remain despite progress, says SSM

Cypriot banks have made progress, according to a report by the Single Supervisory Mechanism (SSM), but there are still many issues. ...

307. Demetra has invested 75% of its capital in Hellenic

Demetra Investment, the Cyprus Investment Fund, has dedicated 75% of its investments to Hellenic Bank....

308. Pyrgos dig reveals industrial plant dating back to 2350 BC

From 2350 BC to 1850 BC, the Greek population of Pyrgos in Cyprus had a very important industrial building of about 4000 m2, where not only copper but also olive oil, perfume, medicines, textiles, paints, and wine were processed....

309. Cypriot author claims police trying to ban his book on corruption

A Cypriot investigative journalist accused the police on Wednesday of trying to prevent him from publishing books he wrote about corruption in his country....

310. Excavations reveal rare feature in prehistoric Cyprus

The 2022 excavations at Chlorakas-Palloures which have been completed have yielded important information on the Chalcolithic period, between 3500 and 2500 BC in Cyprus, the Department of Antiquities of the Ministry of Transport, Communications and Works announced on Wednesday....

311. New loans up despite interest rate hike

Total new loans in November 2022 increased by €172.8m compared to the previous month, despite an increase in interest rates across all loan categories. ...

312. The 2023 investment chessboard

Today's data is completely different from what it was a year ago in terms of investment....

313. When will Cypriots begin to reap the benefits of natural gas?

Minister of Energy, Trade, and Industry Natasha Pileidou hailed the discovery of a natural gas deposit in Block 6 of the Cypriot EEZ as a very positive development. Given the energy challenges the European Union is facing,...

314. Plant to process Israeli gas for export an option

The government of Cyprus is weighing a proposal for a pipeline that would carry natural gas from Israel to the island nation, where it would be processed and exported by ship to Europe and elsewhere as Russia’s war in Ukraine compounds an energy crisis, the Cypriot energy minister said Monday...

315. New gas field discovery in Cyprus EEZ

The drilling rig of the ENI-TotalEnergies consortium in the Cyprus EEZ has discovered a new gas field at the Zeus 1 target. This is a larger field than the one discovered by the Italian-French consortium on 22 August in the same block (Block 6)....

316. Eva Kaili: From city council to city prison

317. 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, ...

318. 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....

319. KEDIPES disburses another €80 million to the state

The Board of Directors of the state-owned asset manager, KEDIPES, has decided to disburse another €80 million to state coffers for the fourth quarter of this year, with the amount paid to the state in 2022 reaching €310 million....

320. More than €1.5 million in cash seized from Kaili - Panzeri

More than €1.5 million in cash was seized from the homes of Eva Kaili and former MEP Pierre Antonio Panzeri in Brussels, according to Belgian police....

321. €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, ...

322. World's largest crypto exchange platform to set up shop in Cyprus

The FTX bankruptcy scandal a few weeks ago rocked the entire crypto world to its core, after its founder Sam Bankman-Fried, the "wonderboy" of the crypto trading world,...

323. Greek Navtex is a message to Libya

The navigation warning issued by Greece on Saturday expanding the area of seismic surveys for oil and natural gas deposits off the coast of Crete was in response to a request by US oil firm ExxonMobil, which has been granted exploration rights, but also serves a geopolitical purpose...

324. Cyprus wants to get in on fast-track gas to EU

Cypriot President Nicos Anastasiades is calling on Brussels to help encourage companies to move fast and include the island in plans to supply Europe with natural gas from the eastern Mediterranean...

325. The consequences of continuing foreclosure suspensions

Lambros Papadopoulos, President of the state-owned asset management company, KEDIPES, warned on Tuesday that the continued suspension of foreclosures will negatively affect the company’s revenue from non-performing loans (NPLs) management resulting in a reduced repayment of state aid....

326. Supreme Court in Cyprus overturns rape convictions

Two young males who were convicted on rape charges after having sex with a drunk high school student in a hotel room were acquitted last week when the Supreme Court found the girl’s testimony was weak and the defendants did not receive a fair trial...

327. BOC: Profits for first nine months gobbled up by Voluntary Retirement Plan

The bank reported 9 million euro losses following the summer departure of 550 employees, which cost it 104 million....

328. Girls accuse male teacher of sexual harassment

A male teacher at a junior high school in Limassol has been remanded in custody after a group of female students have accused him of sexual harassment in the classroom...

329. Finance Minister calls for the repeal of foreclosure suspension

The Ministry of Finance proposes delaying the law on divestiture suspension. ...

330. Loans are increasing as interest rates rise

New loans provided by Cypriot banks rose by €217 million in September compared with August, driven mainly upwards by corporate loans over €1 million which rose by 127.6 million....