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331. ECB keeps watchful eye on non-performing loans

The European Central Bank (ECB) is closely monitoring non-performing loans (NPLs) and related legislation, including the divestment framework. ...

332. 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....

333. Cyprus banks secure Moody's upgrade to investment status

After 12 years, Moody's has upgraded the ratings of Cyprus' two major banks, Bank of Cyprus and Hellenic Bank, placing them in the investment category....

334. Moody's boosts Bank of Cyprus and Hellenic Bank ratings to Baa2

Moody’s Investors Service has upgraded Bank of Cyprus’ and Hellenic Bank’s long-term deposit ratings to Baa3 from Ba1, citing the continued resilience of the Cypriot economy and credit conditions, which are leading to supportive operating conditions for Cypriot banks....

335. Inflation fears and green investments

The European Central Bank (ECB) has revised its inflation forecast upward, now predicting that inflation will reach 5.6% in 2023 and 3.2% in 2024. ...

336. Real estate boom in Greece and Cyprus

The real estate landscapes of Greece and Cyprus are undergoing significant transformations, with both nations showcasing promising growth and recovery. However, beneath the surface of these top-line numbers, there are underlying challenges and disparities that need to be addressed....

337. Moody's double upgrade ignites investor interest

Last Friday, Moody's delivered a double upgrade for Cyprus, propelling the nation into the investment-grade category recognized by all four major financial firms. Although these rankings may appear modest, their real-world impact is substantial....

338. Loans gain €8.5 million momentum

Total loans in August recorded a net increase of €8.5 million, following a significant decrease of €100 million the previous month. Meanwhile, for a second consecutive month, deposits saw a net decrease, amounting to €175.5 million....

339. Trump ''freaks out'' in response to fraud ruling

Soon after New York Judge Arthur Engoron found Donald Trump and his adult sons liable for fraud and canceled the Trump Organization’s business certification on Tuesday, the disgraced former president freaked out about it in a lengthy all-caps rant on Truth Social that he appeared to have originally written yesterday....

340. Bank of Cyprus woos investors at London conference

Last week, the Bank of Cyprus launched a series of engagements with investors, with a particular focus on attracting new stakeholders. This initiative took place during the BofA Merrill Lynch conference, notably at the Annual Financials CEO Conference held in London from last Tuesday to Thursday. ...

341. Keravnos expects more from banks to boost Cyprus economy

The Cyprus economy has proven its resilience in recent years, Finance Minister Makis Keravnos said Tuesday at the 4th Conference "Banking System: New Challenges and Opportunities", that takes place in Nicosia, noting that there are still challenges that the banking sector must address....

342. SYPRODAT and Government join forces to end non-performing loans

Finance Minister Makis Keravnos expressed satisfaction with the progress made in divestments and the reduction of non-performing loans (NPLs) during a meeting at the Ministry of Finance with SYPRODAT President Costas Melas and Association Director Jenny Papacharalambous....

343. €369 million EIB loan for smart investments

The government has secured a €369 million loan from the European Investment Bank (EIB) with favorable terms to support expenditures and investments within the framework of the "Thalia" program. ...

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

345. Liquidity cover hits 318% in banking

Konstantinos Herodotou, the Governor of the Central Bank of Cyprus, delivered a robust message at the TechIsland conference in Limassol....

346. 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, ...

347. 135% debt reduction sparks hope for economy

According to the latest data from the Central Bank of Cyprus, the private debt-to-GDP ratio has shown a significant decrease from its peak at the end of the first quarter in 2015 to the end of March 2023. ...

348. AKEL blasts government amid rising bank profits

The political party AKEL has voiced its discontent with the government's handling of economic issues, particularly in light of the recent decision to raise interest rates for the tenth time....

349. 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....

350. Is Cyprus banking sector heading for a shake-up?

The Cypriot banking sector is in trouble, and it looks like Eurobank is on the verge of acquiring Hellenic Bank. Meanwhile, Astrobank and CDB Bank's relationship has shifted from a "flirtation" to an "appointment."...

351. Police vigilance prevents unauthorized entry in evacuated Chlorakas flats

Five private security guards will watch over the evacuated apartment buildings in Chloraka around the clock. Additionally, ADE Paphos patrols will cover the entire area, as confirmed by Michalis Nikolaou, the spokesperson for ADE Paphos and CID Paphos manager....

352. 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. ...

353. 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....

354. Cyprus boosts energy sector with €104m revamp

The Republic of Cyprus has submitted a revised Recovery and Resilience Plan to the European Commission, incorporating the REPower EU chapter with an additional allocation of €104 million....

355. AKEL's bold demand: Tax bank profits to power people's pockets

The AKEL political party is urging the government to take immediate action to alleviate the financial strain on Cypriot households by taxing banks' surplus profits and redirecting the funds towards fuel and electricity subsidies....

356. Hellenic Bank reports impressive profit surge of €160.2 million

Hellenic Bank had a really good financial run in the first half of 2023. They made a profit of €160.2 million, which is a huge jump of 203% compared to last year at the same time....

357. 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....

358. Eurobank acquires 17.3% stake in Hellenic Bank for €167.9 million

The Eurobank has agreed to acquire an additional stake of around 17.3% (equivalent to 71,428,572 shares) in the Hellenic Bank at a total price of 167.9 million euros, or 2.35 euros per share. ...

359. EuroAsia interconnector seeks alternative funding

The developer of the EuroAsia Interconnector is seeking alternative funding avenues to construct Cyprus' electricity interconnection with the European Union, following the European Investment Bank's rejection of a loan request. ...

360. Loan denial sparks debate over EuroAsia electricity project

The European Investment Bank's (EIB) recent refusal to grant a loan for the EuroAsia Interconnector Electric Interconnector project has ignited a heated debate over the future of the ambitious energy initiative....