https://knews.kathimerini.com.cy/en/news/why-astrobank-and-cdb-bank-couldn-t-agree-on-a-price
The deal between Astrobank and CDB Bank fell apart over a few million euros, even though they had given a "reason" and had agreed on the price in September 2023....
https://knews.kathimerini.com.cy/en/news/russian-depositor-triumphs-over-laiki-bank-s-2013-haircut
The Legal Service, on behalf of the Republic of Cyprus and the Central Bank of Cyprus (CBC), will appeal the decision of the Limassol District Court, which awarded compensation to a depositor of the former Laiki Bank for the 2013 deposit haircut, according to CNA....
https://knews.kathimerini.com.cy/en/news/seven-ways-to-boost-cyprus-economy-and-competitiveness
The Cyprus economy needs seven important pillars to respond to the increasingly volatile environment, achieve greater growth, gain a more resilient and competitive economy, and develop innovation and more growth potential, according to PwC CEO Philippos Soseilos....
https://knews.kathimerini.com.cy/en/business/cyprus-banks-bracing-for-profit-squeeze-according-to-moody-s
Moody's believes that Cyprus' small and saturated banking sector, the banks' limited loan portfolio, and low fee and commission income will restrict opportunities for growth in domestic banks' activities and profitability in the long term....
https://knews.kathimerini.com.cy/en/news/will-foreclosures-plague-2023
There is a race against time, with only a few weeks left to address the issue of foreclosures and enhance the framework....
https://knews.kathimerini.com.cy/en/news/bank-of-cyprus-and-hellenic-bank-upgraded-by-fitch
Fitch Ratings has delivered significant upgrades to the two largest Cypriot banks, Bank of Cyprus and Hellenic Bank, signaling a positive turn in Cyprus's economic landscape and a bright outlook for both financial institutions....
https://knews.kathimerini.com.cy/en/business/crypto-wonder-boy-sam-bankman-fried-convicted-in-$8-billion-fraud
Sam Bankman-Fried, the former billionaire founder of FTX, a prominent cryptocurrency exchange, was found guilty on Thursday of orchestrating one of the most significant financial frauds in history....
https://knews.kathimerini.com.cy/en/business/ppc-becomes-new-owner-of-kotsovolos-in-€200-million-deal
In a significant development, PPC, the Greek energy company, has emerged as the new owner of the popular retail brand "Kotsovolos." This transition was facilitated through a deal with the British group Currys, valuing the acquisition at €200 million, entirely free from loans and lease obligations....
https://knews.kathimerini.com.cy/en/news/will-czech-republic-embrace-the-euro
Despite being part of the European Union for nearly two decades, the Czech Republic remains staunchly opposed to adopting the euro as its official currency. ...
https://knews.kathimerini.com.cy/en/news/cyprus-records-€253-8m-in-new-loans-for-september-2023
Pure new loans in September 2023 increased to €253.8 million compared to €207 million in August 2023, according to the latest data released by the Central Bank of Cyprus on Thursday.
...
https://knews.kathimerini.com.cy/en/news/woman-kills-boyfriend-over-$30m-inheritance
A North Dakota woman fatally poisoned her boyfriend after learning about his plans to dump her — because he had inherited $30 million just hours earlier, police said....
https://knews.kathimerini.com.cy/en/news/no-foreclosures-on-first-homes-until-the-end-of-2023
In a development concerning foreclosures, four months after the summer 2023 decisions, the data remains unchanged. Banks and credit redemption companies have been urged to provide a two-month grace period for first homes and properties up to 350 thousand euros. ...
https://knews.kathimerini.com.cy/en/comment/opinion/turkey-the-most-unreliable-ally-of-the-west
The latest developments in the Middle East after the terrorist actions of Hamas and the reaction of Israel have proven once again that Turkey does not want and does not belong to the Western alliance. Tayyip Erdogan’s decision to align himself with the extremist Islamists of Hamas and Iran clearly shows where the country is heading....
https://knews.kathimerini.com.cy/en/news/freeze-on-home-foreclosures-likely-to-continue
As the year comes to a close, it seems likely that the freeze on foreclosures of primary homes valued up to €350k will be extended....
https://knews.kathimerini.com.cy/en/news/ft-netanyahu-called-on-eu-to-pressure-egypt-to-accept-gaza-refugees
Israeli Prime Minister Benjamin Netanyahu sought to convince European leaders to put pressure on Egypt to accept refugees from Gaza, according to people briefed on the discussions....
https://knews.kathimerini.com.cy/en/news/foreign-minister-kombos-in-ramallah-announces-economic-aid-for-palestinians
Cyprus Foreign Minister Constantinos Kombos visited Ramallah on Monday to address the escalating tensions in the Middle East and explore the establishment of a maritime humanitarian corridor....
https://knews.kathimerini.com.cy/en/news/un-warns-of-potential-war-crimes-amid-israel-gaza-violence-surge
The United Nations has warned that there was “clear evidence” that war crimes may have been committed in “the explosion of violence in Israel and Gaza”....
https://knews.kathimerini.com.cy/en/news/israel-s-top-businessman-pushes-for-netanyahu-s-exit
Amon Shaswa, the head of the technology company Mobileye and one of Israel's leading businessmen, made a compelling call on Sunday for the immediate removal of Prime Minister Benjamin Netanyahu and the replacement of his government....
https://knews.kathimerini.com.cy/en/business/october-newsletter-of-k-treppides-co-ltd-financial-conduct-authority-fca
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/key-economic-issues-dominate-the-headlines
Despite various actions taken and a decrease in inflation, there are worries about the central bank's ability to achieve its goals. Some experts suggest that the target of 2% price growth, ...
https://knews.kathimerini.com.cy/en/news/full-basic-pension-exempted-from-actuarial-reduction
The Minister of Labor, Yiannis Panayiotou, presented a proposal at the Social Insurance Council meeting, exempting the full basic pension from a 12% actuarial reduction for employees with 40 years of contributions. This proposal aims to relieve actuarial reductions for early pensions.
...
https://knews.kathimerini.com.cy/en/business/ecb-maintains-interest-rates-amid-tightening-impact
The European Central Bank (ECB) has opted to maintain interest rates unchanged for the first time in over a year, marking a shift following 10 consecutive rate hikes. ...
https://knews.kathimerini.com.cy/en/news/austria-allocates-€33m-for-wrongly-convicted-gay-men
A historic proposal by the Austrian Ministry of Justice sees €33m set aside to compensate those who were wrongly convicted - but critics say the amount on offer is not enough....
https://knews.kathimerini.com.cy/en/news/christodoulides-proposes-maritime-lifeline-to-gaza-in-bid-for-middle-east-peace
Cypriot President Christodoulides engaged in discussions with Egyptian President Abdel Fattah al-Sisi, focusing on a proposal for establishing a "maritime humanitarian corridor" from Cyprus to Gaza. ...
https://knews.kathimerini.com.cy/en/business/mcdonalds-israel-in-the-hot-seat-for-giving-away-100-000-free-meals-to-soldiers
Tensions are playing out at McDonald’s locations across the Middle East as the Israel-Hamas war rages on....
https://knews.kathimerini.com.cy/en/life/dhiraj-mukherjee-from-shazam-success-to-paying-it-forward
In this insightful interview, Dhiraj Mukherjee, the co-creator of Shazam, shares his experiences and philosophy on shaping the future. Notably, after the remarkable success of Shazam, which he co-founded and later sold to Apple for a substantial sum of around 400 million, Dhiraj has been actively paying it forward....
https://knews.kathimerini.com.cy/en/news/scammers-posing-as-doctors-exploit-elderly-woman-stealing-thousands
Another troubling case of fraud is under investigation by the Nicosia Police, as criminals impersonating medical professionals took advantage of a 68-year-old woman, leaving her thousands of euros poorer....
https://knews.kathimerini.com.cy/en/news/kedipes-prepares-60-million-euro-mortgage-to-rent-initiative
The sale of primary residences worth up to 350 thousand euros faces a potential new suspension. As of the end of October, no additional steps have been taken regarding divestments....
https://knews.kathimerini.com.cy/en/news/government-unveils-€77-million-housing-policy-to-tackle-housing-crisis
Interior Minister Konstantinos Ioannou introduced the government's new housing policy. In his opening statement, Mr. Ioannou outlined a comprehensive plan involving multiple levels of actions and measures, which allocates €77 million over a five-year period for the implementation of specific initiatives....
https://knews.kathimerini.com.cy/en/business/ecommbx-a-platform-to-rule-them-all
From Day One, ECOMMBX was determined to develop the most powerful electronic payments systems, capable of offering customers seamless cross-border transactions. ...
