https://knews.kathimerini.com.cy/en/business/herodotou-calls-for-increased-vigilance-to-avert-private-debt-defaults
Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) called for the preservation of fiscal space, as the economic prospects are deteriorating due to Russia’s war in Ukraine....
https://knews.kathimerini.com.cy/en/news/finance-minister-responds-to-cbs-disinformation-and-fake-news
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. ...
https://knews.kathimerini.com.cy/en/news/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. ...
https://knews.kathimerini.com.cy/en/business/fund-are-investing-in-cypriot-banks
Investing in Cypriot banks is becoming more common. The progress they have made in terms of the non-performing loan burden they have shed, their capital adequacy, which is characterized as good,...
https://knews.kathimerini.com.cy/en/business/npl-s-decreased-by-€32-million-to-€2-69-billion-in-october-2022
Non-performing loans (NPLs) at the end of October 2022 amounted to €2.69 billion, showing a decrease of €32 million compared to the previous month....
https://knews.kathimerini.com.cy/en/news/british-museum-says-in-‘constructive-discussions-over-parthenon-marbles
The British Museum said on Wednesday it was holding 'constructive discussions' with Greece over the Parthenon Sculptures amid renewed speculation that the 2500-year-old marbles could soon be returned to Athens...
https://knews.kathimerini.com.cy/en/news/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. ...
https://knews.kathimerini.com.cy/en/business/the-landscape-of-bank-equity-is-changing-in-cyprus
A day before 2022 came to an end, Eurobank made the announcement that it had added 3.2% more shares of Hellenic Bank, bringing its total to 29.2% (pending regulatory approval), and altering the bank's balance "for good"....
https://knews.kathimerini.com.cy/en/news/officer-injured-in-clash-outside-foreclosed-property
The owner of a foreclosed property in Paphos was arrested on Thursday following an altercation outside an apartment complex, where a female police officer was injured...
https://knews.kathimerini.com.cy/en/news/stolen-8th-century-bc-jug-returned-to-cyprus
A Cypriot jug from the 8th century BC that was offered for sale on the Dutch art market, and which appeared to have been smuggled out of Cyprus shortly after the Turkish invasion of the island in July 1974, was recently returned to the Republic of Cyprus....
https://knews.kathimerini.com.cy/en/news/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, ...
https://knews.kathimerini.com.cy/en/news/white-house-dazed-over-cypriot-gas-company-s-emails
US President Joe Biden is expected to say whether he would challenge a decision by National Archives to release documents concerning his son’s role in a controversial gas company in Cyprus and allegations that business dealings may have improperly influenced American policy...
https://knews.kathimerini.com.cy/en/news/boris-becker-released-from-uk-jail-will-be-deported
Former Wimbledon champion Boris Becker has been released from jail today and will be deported from the UK, according to the PA news agency....
https://knews.kathimerini.com.cy/en/business/€36-million-loss-so-far-reported-by-banks-this-year
The banking system reported a loss after tax of €36 million on a consolidated basis in the first nine months of 2022, compared to a profit of €22.54 million in the corresponding period of 2021....
https://knews.kathimerini.com.cy/en/news/the-2023-budget-in-the-vortex-of-the-elections
The government of President Anastasiades has just submitted its final budget, for 2023. DISY will undoubtedly support the budget, but it will be interesting to see what position it will take if and when the polls are confirmed....
https://knews.kathimerini.com.cy/en/news/nicosia-stays-course-as-economic-growth-loses-steam
Cypriot public finances have improved due to increased growth, although they are expected to be adversely affected due to a projected slowdown in the next few months, according to the 13th Post-Programme Surveillance Report for Cyprus...
https://knews.kathimerini.com.cy/en/news/cyprus-gets-taste-of-eu-s-€85-million-with-a-caveat
Cyprus will get Friday the first tranche of €85 million from the EU's Recovery and Resilience Mechanism, with European Commission technocrats also pointing to repeated suspensions of foreclosures in Cyprus that create problems in terms of achieving the goal of further reduction of NPLs...
https://knews.kathimerini.com.cy/en/business/€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, ...
https://knews.kathimerini.com.cy/en/business/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,...
https://knews.kathimerini.com.cy/en/comment/opinion/op-ed-the-effects-of-global-warming-on-banks-and-insurance-companies
One of the last print editions of the Economist had the title ‘Say goodbye to 1.5° C’ which refers to the goal of limiting the increase in the average temperature of the planet to 1.5 degrees Celsius...
https://knews.kathimerini.com.cy/en/business/small-number-of-banks-meeting-new-loan-demand
The net demand for loans from businesses in Cyprus decreased in the third quarter of 2022, and banks anticipate a similar decline in the net demand for loans from businesses and households in all loan categories in the fourth quarter of 2022 compared to the third quarter.
...
https://knews.kathimerini.com.cy/en/news/14-billion-euros of-loans-on-ice-due-to-the-suspension-of-foreclosure-sales
In Cyprus, credit purchasing companies manage over 80,000 loans totaling €20 billion....
https://knews.kathimerini.com.cy/en/news/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....
https://knews.kathimerini.com.cy/en/business/the-suspension-of-foreclosure-sales-is-tragic-for-the-country
Bank of Cyprus CEO Panicos Nicolaou described Cyprus's decision to extend the suspension of divestments as "tragic."...
https://knews.kathimerini.com.cy/en/business/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....
https://knews.kathimerini.com.cy/en/news/ecb-banks-in-italy-portugal-greece-cyprus-could-see-highest-rise-in-npls
Banks in Italy, Portugal, Greece and Cyprus could suffer some of the biggest increases in non-performing loans while France, Ireland and Luxembourg could be among the best performers, the European Central Bank said in a fresh study on Tuesday....
https://knews.kathimerini.com.cy/en/business/who-benefits-from-the-proposed-rent-to-mortgage-scheme
The "Rent vs Instalment Scheme", now known as the "mortgage to rent" scheme, is nearing completion, with implementation set to begin in January 2023. ...
https://knews.kathimerini.com.cy/en/news/investors-lost-$1-billion-on-ftx-prompting-calls-for-industry-regulation
The turmoil in the cryptocurrency world continues unabated following the bankruptcy of the FTX platform, which landed its founder, Sam Bankman-Freid, bankrupt almost overnight. ...
https://knews.kathimerini.com.cy/en/news/man-wanted-for-760m-euros-worth-of-fraud-arrested-at-larnaca-airport
On Sunday night, a 49-year-old man who is wanted by Chinese authorities on an international warrant in connection with a fraud case was apprehended at Larnaca airport....
https://knews.kathimerini.com.cy/en/news/president-defers-foreclosure-mess-to-attorney-general
Cypriot President Nicos Anastasiades has refused to veto legislation that suspends foreclosures yet again until February 2023, essentially calling on the attorney general to examine the constitutionality of the bill as the issue on the presidential election campaign trail continues to heat up...
