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121. 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. ...

122. Tightened lending criteria and reduced loan demand in Q2 2023

During the second quarter of 2023, lending criteria for both businesses and households in Cyprus remained stringent, with banks exercising caution....

123. Suspense builds as foreclosure deadline nears, and creditors seek solutions

Cyprus is nearing the end of the suspension of divestments of primary residences worth up to 350 thousand euros, but a solution remains elusive regarding open funds tied to the divestment framework. ...

124. Tempo Cyprus Ltd at the Cyprus Cocktail Festival 2023

The 4th Cyprus Cocktail Festival, an integral part of the Digital Agenda Cyprus Summit, is delighted to announce the participation of Tempo Cyprus Ltd as one of the primary suppliers for the event. ...

125. How blockchain technology is reshaping financing

In this age of technology, digital transformation, and the omnipresence of the internet, alternative digital financing is emerging as an innovative and effective solution for both businesses and individuals in need of financial support....

126. Vassos Eliades at the Cyprus Cocktail Festival 2023

We are pleased to announce the participation of Vassos Eliades in the 4th Cyprus Cocktail Festival, a signature event of the Digital Agenda Cyprus Summit. ...

127. Consulco’s London Credit Fund; Existing & New Investment Opportunities

128. Borrowers in a high-stakes game of loan roulette

In 2023, borrowers face a pivotal year, primarily due to the soaring levels of inflation, rising prices, and increasing interest rates. This year also carries significant importance for banks, not in terms of profits, ...

129. Libya: Tragic road accident claims lives of Greek rescue mission

The death in the horrific road accident on Sunday afternoon in Benghazi of five Greeks who were part of an armed forces mission to Libya to assist flood-affected residents of Derna raises legitimate concerns about the planning and execution of such a complex mission in the midst of chaos, in a country that is, in any case, unsafe due to years of civil war....

130. EU passes borrower protection law: Your rights when borrowing money

The European Parliament (EP) has voted on rules to keep people safe when they borrow money for things like credit cards or loans....

131. Big on big issues and small on small issues

Are you tired of scrolling and reading throughout long and multiple pages filled with every single detail of each accounting policy your entity of interest is using the last couple of years, only to find what really matters for you in page 25? Don’t get me wrong! I do that for living....

132. Recovery and Resilience measures target non-performing loans

In a move to address Non-Performing Loans (NPLs) and maximize European funds, Minister of Finance, Makis Keravnos, announced the approval of an action plan under the Recovery and Resilience Plan. ...

133. Consulco: London Credit Fund’s new investment opportunity secured against UK commercial properties

The London Credit Fund New Compartment offers even higher returns to investors....

134. Wargaming to divest 6.8% stake in Hellenic Bank to Eurobank for €65.9 million

Wargaming has announced its decision to sell its remaining stake of 6.8% (28,023,767 shares) in Hellenic Bank to Eurobank. ...

135. Potential bank tax discussed amidst rate dissatisfaction

Leaving the door open for potential action, the Finance Ministry is considering an additional tax on banks due to dissatisfaction with their current approach to deposit and lending rates....

136. China's $10 trillion hidden debt

For some time now, markets have been buffeted almost on a daily basis by gloomy economic news filtering out of China....

137. Desperate battle against unyielding fires rages on

Greece is grappling with an ongoing state of fire as blazes continue to ravage several regions....

138. BOC reports €220 million profit for first half of 2023

Bank of Cyprus Group has reported a robust profit after tax of €220 million for the first half of 2023, a significant leap from the €43 million recorded in the same period of 2022. Notably, €125 million of these profits were achieved in the second quarter of 2023....

139. Italy surprises banks with 40% windfall tax

Italy's rightwing coalition sent shockwaves through the financial markets as it announced an unforeseen 40% tax on bank profits derived from higher interest rates. ...

140. Strongest work-from-home rights for Australians

Before COVID-19 sent one-third of the global workforce home, the Melbourne property surveyor that employs drone operator Nicholas Coomber called its 180-strong staff into the office every day at 9 a.m. to hand out assignments....

141. NPL crisis highlights tug of war between borrowers and legislation

The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...

142. Loan demand in Cyprus falls, interest rates rise

The Cypriot banking institutions are holding a small basket for demand in new loans....

143. Eurobank's vision: Controlling Hellenic Bank and conquering new markets

According to Bloomberg, Eurobank's deputy chief executive, managing director, and head of international operations, Stavros Ioannou, expressed the bank's desire to eventually gain full control of Hellenic Bank in Cyprus....

144. The government's seven proposals for vulnerable individuals

Finance Minister Makis Keravnos submitted seven government actions aimed at addressing issues related to non-performing loans to Parliament yesterday....

145. Conservatives storm to victory in repeat Greek election

Greece's conservative New Democracy party stormed to victory in a parliamentary election on Sunday with voters giving reformist Kyriakos Mitsotakis another four-year term as prime minister...

146. Hellenic Bank rakes in €69.7 million in profits during Q1 of 2023

Hellenic Bank has reported a profit of €69.7 million for the first quarter of 2023, signaling a strong start to the year. ...

147. Bank of England raises interest rates to 5%

The Bank of England has raised interest rates by a half point to 5% as part of its efforts to combat high inflation and rising mortgage costs. ...

148. Announcing the 9th annual Gastronomy awards 2023

Get ready for the much-anticipated celebration of Cypriot producers! The prestigious 2023 Quality Awards by "Gastronomos" and "Kathimerini" are set to take place on Tuesday, June 27th at 8:00 PM in the enchanting courtyard of the Cultural Centre of Strovolos Municipality....

149. Russia's use of Chinese yuan to bypass western sanctions may come to an end

Russia has been using China's yuan to get around sanctions — but at least one major Chinese bank has halted transfers from Russia over fears of secondary sanctions from the West....

150. ECB raises interest rate to 3.20% in ongoing tightening campaign

The European Central Bank (ECB) has announced its decision to raise the interest rate to 3.20%, marking another step in its ongoing monetary policy tightening campaign. ...