https://knews.kathimerini.com.cy/en/news/cyprus-banks-report-€164-7-million-deposit-increase-in-july
Total deposits in Cyprus’ banks recorded a net increase of €164.7 million in July 2024, compared with a net decrease of €44.1 million in June 2024, according to figures released on Wednesday by the Central Bank of Cyprus (CBC)....
https://knews.kathimerini.com.cy/en/news/government-s-solar-panel-scheme-attracts-6-000-applicants
The Energy Ministry expressed satisfaction on Saturday on the response its scheme ‘’photovoltaics for all’’ had among the consumers....
https://knews.kathimerini.com.cy/en/news/ema-slams-eac-for-undermining-electricity-market-competition
The Electricity Market Association (EMA) is expressing concern over recent requests made by the Electricity Authority of Cyprus (EAC) to President Nicos Christodoulides....
https://knews.kathimerini.com.cy/en/news/cyprus-is-growing-older-and-smarter
Cyprus' population is aging and becoming more educated, according to final results from the 2021 Census of Population and Housing released on Friday by the Statistical Service. Conducted in government-controlled areas, the census recorded a population of 923,381 as of October 1, 2021, reflecting a 9.9% increase from the 2011 census....
https://knews.kathimerini.com.cy/en/news/cyprus-sees-fuel-price-drop-by-2-3-cents
Cypriot households burdened by rising living costs are getting a reprieve as fuel prices drop, with further reductions expected by the end of August....
https://knews.kathimerini.com.cy/en/news/cyprus-sees-significant-uptick-in-new-loans
In June 2024, new loans in Cyprus substantially increased, reaching €330.6 million, up from €234.9 million in May. Data from the Central Bank of Cyprus (CBC) show that total new loans, which include both new and renegotiated contracts, climbed to €514.9 million from €391.6 million the previous month....
https://knews.kathimerini.com.cy/en/business/fruits-and-perishables-made-of-gold
Soaring retail prices for fresh fruits and vegetables have heavily impacted both consumers and producers in recent months. ...
https://knews.kathimerini.com.cy/en/news/high-electricity-costs-in-cyprus-due-to-lack-of-renewables
As high temperatures drive increased energy demand in Cyprus, the island remains heavily reliant on mazut for electricity production....
https://knews.kathimerini.com.cy/en/news/turn-your-land-or-roof-into-income-and-help-combat-climate-change
As the world grapples with the intensifying effects of climate change, marked by record-breaking temperatures from June 2023 onwards, the call to shift towards sustainable practices has never been more urgent....
https://knews.kathimerini.com.cy/en/news/market-changes-eurobank-s-move-and-economic-struggles
Bank of Cyprus shares were delisted from the Athens Stock Exchange following the 2013 financial crisis and the turbulent merger with Laiki Bank, including the depositor haircut...
https://knews.kathimerini.com.cy/en/business/the-great-sea-interconnector-will-cut-electricity-costs-by-30
Minister of Energy, Commerce, and Industry George Papanastasiou is set to meet with the management of Greece's Independent Power Transmission Operator (ADMIE) on Thursday to receive a comprehensive Cost and Benefit Analysis (CBA) for the Great Sea Interconnector (GSI) project, linking Cyprus, Greece, and Israel....
https://knews.kathimerini.com.cy/en/news/cyprus-sets-course-for-cheaper-electricity-in-2025
Energy, Commerce, and Industry Minister George Papanastasiou unveiled Cyprus' ambitious plans for the Electricity Authority of Cyprus (EAC) during a press conference in Nicosia on Tuesday. ...
https://knews.kathimerini.com.cy/en/business/surge-in-corporate-loans-despite-interest-rate-hike
The Central Bank of Cyprus has released its latest data revealing notable shifts in financial trends for May 2024. Despite a 0.52% uptick in lending rates for non-financial corporations borrowing amounts over €1 million, new loans to these entities surged by 10% compared to the previous month. ...
https://knews.kathimerini.com.cy/en/news/fitch-elevates-hellenic-bank-s-credit-rating
Fitch Ratings has upgraded Hellenic Bank's Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BB+', with stable outlook and its Viability Rating (VR) to 'bbb-' from 'bb+'.
...
https://knews.kathimerini.com.cy/en/news/banks-contribute-over-€854m-in-taxes-amid-controversy-over-proposed-levy
In the last seven years (2017-2023), Cypriot banks have collectively paid more than €854 million in income tax, special taxes, and VAT, according to a report by Panayiotis Rouglas in last Sunday's Kathimerini....
https://knews.kathimerini.com.cy/en/news/kedipes-sends-first-approvals-for-mortgage-to-rent-scheme
State-owned asset management company, KEDIPES began sending the first approvals for eligible borrowers as part of the government-funded mortgage-to-rent scheme....
https://knews.kathimerini.com.cy/en/news/government-extends-subsidies-to-ease-cost-of-living-crisis
The Cabinet approved a proposal on Wednesday by Finance Minister Makis Keravnos to extend measures aimed at compensating for the living costs of Cypriot households. Government Spokesperson Konstantinos Letymbiotis announced the decision following the Cabinet meeting....
https://knews.kathimerini.com.cy/en/news/will-cabinet-decide-to-extend-electricity-subsidies-to-consumers
The government is poised to discuss the renewal of the electricity subsidy measure, set to expire on June 30, at its upcoming Cabinet meeting, according to a report by Kathimerini's Hectoras Georgiou....
https://knews.kathimerini.com.cy/en/news/banks-blame-high-interest-rates-for-decline-of-new-loans
Loan demand continued to fall in the first quarter of 2024, with banks blaming high interest rates for the decline. ...
https://knews.kathimerini.com.cy/en/news/153-000-people-struggle-with-low-incomes-and-high-living-costs
The share of Cyprus' population at risk of poverty or social exclusion remained steady at 16.7% in 2023, according to the Statistical Service of Cyprus (Cystat). This means that approximately 153,000 people in Cyprus are struggling with low incomes and high living costs....
https://knews.kathimerini.com.cy/en/news/cyprus-inflation-could-offset-ecb-rate-cut-benefits
The European Central Bank (ECB) cut its three key interest rates by 25 basis points on Thursday, marking the first reduction after nearly two years of increases or stasis. ...
https://knews.kathimerini.com.cy/en/business/electricity-interconnector-could-save-households-up-to-€400
The Great Sea interconnector, a €1.9 billion subsea cable linking the electricity grids of Cyprus and Greece, promises significant savings for Cypriot households. ...
https://knews.kathimerini.com.cy/en/news/cbc-reports-€209-1m-increase-in-deposits-for-april
Total deposits have recorded a monthly rise for the third consecutive month in April, as total loans dropped after two months of growth....
https://knews.kathimerini.com.cy/en/news/from-gigabytes-to-watts-telcos-evolution-into-energy-providers
Andreas Neocleous is the first CEO of Cyta, Cyprus’ largest telecommunications organization, to have been appointed from the private sector....
https://knews.kathimerini.com.cy/en/business/household-deposit-rates-surge-as-home-buying-loan-rates-dip
In March 2024, the financial landscape in Cyprus saw some interesting shifts, according to data released by the Central Bank of Cyprus. Here's a breakdown of what happened:...
https://knews.kathimerini.com.cy/en/news/study-shows-many-cypriots-struggle-with-financial-literacy
A recent study by the Economics Research Centre at the University of Cyprus has brought to light issues regarding financial literacy in the country....
https://knews.kathimerini.com.cy/en/news/fighting-high-interest-rates-is-europe-s-main-challenge
The European economy faces significant challenges amidst the current geopolitical crisis, which threatens its global position. ...
https://knews.kathimerini.com.cy/en/news/polish-security-uncovers-bugging-devices-ahead-of-ministerial-meeting
Polish security agencies uncovered surveillance devices in a meeting room scheduled for use by ministers on Tuesday, heightening concerns over potential espionage activities....
https://knews.kathimerini.com.cy/en/news/cyprus-reports-€133-1-million-increase-in-march-loans
In March, both total deposits and loans saw an upward trend, with liquidity (the difference between loans and deposits) exceeding €27 billion, according to statistics on deposits and loans from Monetary Financial Institutions published today by the Central Bank of Cyprus.
...
https://knews.kathimerini.com.cy/en/news/president-christodoulides-hails-financial-progress-with-new-cbc-governor
The appointment ceremony for the new governor of the Central Bank of Cyprus, Mr. Christodoulos Patsalides, occurred this morning at the Presidential Palace, with the President of the Republic, Mr. Nikos Christodoulides, in attendance....
