https://knews.kathimerini.com.cy/en/news/rejected-estia-applications-to-be-re-examined-upon-appeal
The number of applications approved for participation in the Restructuring Scheme “Estia” has increased, reaching 1,049. At the same time, appeals for 881 applications that were denied will be re-examined compared to only 543 last March....
https://knews.kathimerini.com.cy/en/business/banks-imposing-stricter-lending-standards
Cyprus banks have tightened credit standards in the second quarter of 2022, while net new lending demand subsided, reflecting the geopolitical tensions and the uncertainty in the global economic environment, the Central Bank of Cyprus Bank Lending Survey for Q2 says....
https://knews.kathimerini.com.cy/en/news/liz-truss-to-freeze-energy-bills-for-households
British Prime Minister Liz Truss plans to freeze household energy bills at their current level for this winter and the next, paid for by government-backed loans to energy suppliers, the BBC reported Tuesday....
https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-announces-€50m-net-profit-in-first-half-of-2022
Bank of Cyprus announced a profit after tax amounting to €50 million for the first half of 2022, setting its sights on dividend distribution in 2023, for the first time since 2011, depending on market conditions and regulatory approvals....
https://knews.kathimerini.com.cy/en/news/deposits-and-loans-decrease-in-july
In July 2022, total deposits reached €51.2 billion and total loans €28.6 billion, recording a net decrease, compared to June. This is what data on Monetary and Financial Institutions' deposits and loans show,...
https://knews.kathimerini.com.cy/en/news/cabinet-extends-disbursement-period-of-interest-rate-subsidy-scheme
The Cabinet decided Monday to amend the interest rate subsidy scheme for housing and corporate loans to further support the economy amid the ongoing effects of the COVID-19 pandemic and the war in Ukraine....
https://knews.kathimerini.com.cy/en/news/17-3-of-the-population-were-at-risk-of-poverty-or-social-exclusion-in-2021
Slightly more than 17% of the population in Cyprus were in 2021 at risk of poverty or social exclusion....
https://knews.kathimerini.com.cy/en/comment/opinion/op-ed-now-is-a-good-time-to-follow-the-simple-rule-of-28-36
Rising prices have been a major topic of discussion over the past few weeks. In essence, however, little can be done by individuals to mitigate the effects of rising fuel and commodity prices on a global scale....
https://knews.kathimerini.com.cy/en/business/national-credit-bureaus-crucial-in-assessing-consumer-creditworthiness
The need to assess a borrower's creditworthiness and capacity through the use of national credit bureaus was highlighted at an annual conference held by the European Association of Credit Bureaus “ACCIS” in Brussels in the past month....
https://knews.kathimerini.com.cy/en/news/cypriot-president-signs-controversial-foreclosure-law
A controversial foreclosure bill has been signed into law in the Republic of Cyprus over the objection of the country’s finance minister who accused lawmakers of populism...
https://knews.kathimerini.com.cy/en/news/deposit-interest-rates-remained-close-to-zero-levels-in-june
Deposit interest rates remained at close to zero levels in June with lending rates showing small variations, according to data released on Tuesday by the Central Bank of Cyprus (CBC)....
https://knews.kathimerini.com.cy/en/business/cbc-noticeable-decrease-in-household-and-business-debt
Business and household debt in Cyprus reached €56.2 billion in the first quarter of 2022, according to data from the Central Bank of Cyprus....
https://knews.kathimerini.com.cy/en/news/cyprus-requests-disbursal-of-€85-million-rrf-funds-from-ec
The European Commission announced it received on Thursday the first payment request from Cyprus under the Recovery and Resilience Facility (RRF) for the disbursement of €85 million in financial support (net of pre-financing), ...
https://knews.kathimerini.com.cy/en/news/ecb-raises-interest-rates-5-with-further-rate-hikes-on-the-horizon
The European Central Bank (ECB) increased interest rates by more than expected on Thursday, raising its benchmark deposit rate by 50 basis points to zero percent, impacting the Cyprus banking system and local borrowers....
https://knews.kathimerini.com.cy/en/business/a-total-of-€362-9-million-euros-in-new-loans-recorded-in-may
A total of €362.9 million euros in new loans were recorded in May, according to data released by the Central Bank of Cyprus on Tuesday. The increase in new loans is mainly due to both an increase in loans for over €1 million and loans for the purchase of homes....
https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-offering-voluntary-retirement-plans-for-up-to-600-employees
The Bank of Cyprus is offering a Voluntary Retirement Plan to 500 - 600 employees of its employees in the hopes that it can reduce its number of employees in order to maintain profitability. ...
https://knews.kathimerini.com.cy/en/news/herodotou-interest-rates-should-be-increased-gradually
The Governor of the Central Bank of Cyprus, Constantinos Herodotou, said he was in favor of the ECB gradually increasing key interest rates while keeping its options open, stressing that the European Central Bank should consider the impact of each increase and act accordingly....
https://knews.kathimerini.com.cy/en/news/us-fed-raises-interest-rates-by-75-largest-hike-in-30-years
The US central bank has announced its biggest interest rate rise in nearly 30 years as it ramps up its fight to rein in soaring consumer prices....
https://knews.kathimerini.com.cy/en/comment/opinion/op-ed-the-biggest-scam-in-higher-education-the-master-s-degree
It's graduation season. Over the past couple of weeks, some 2 million college students have earned their bachelor's degrees and headed off to the next stage of their lives....
https://knews.kathimerini.com.cy/en/news/cyprus-objects-to-airport-designation-in-turkish-occupied-north
Cyprus will lodge a complaint with the United Nations over Turkey’s new financial assistance deal with breakaway Turkish Cypriots that demonstrates Ankara’s “complete control” over them, the president of the ethnically divided island nation said Monday....
https://knews.kathimerini.com.cy/en/business/cbc-new-loans-drop-by-almost-50-in-april
Cypriot banks granted 50% fewer loans this month in comparison to last month due to a sizeable reduction in new housing loans....
https://knews.kathimerini.com.cy/en/news/europe-agrees-to-ban-90-of-russian-oil
European Union leaders agreed Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support....
https://knews.kathimerini.com.cy/en/business/lebanese-banks-in-cyprus-to-shut-down-amid-the-country-s-financial-crisis
Branches of Lebanese banks operating in Cyprus will shut down following a decision by the country’s Central Bank. A Central Bank of Cyprus (CBC) official has confirmed to CNA the decision taken by the country’s banking regulator....
https://knews.kathimerini.com.cy/en/news/eu-official-calls-on-cyprus-to-implement-recovery-plan-or-lose-funding
A European Commission official on Monday urged the Cypriot authorities to proceed with the implementation of Cyprus’ National Recover and Resilience plan, warning that Cyprus risks losing EU funds in case of new delays....
https://knews.kathimerini.com.cy/en/business/bank-of-cyprus-posts-net-profit-of-€21-million-in-q1-and-a-record-of-new-loans
Bank of Cyprus group announced on Thursday a net profit of €21 million for the first quarter of 2022, compared to net profit of €8 million in the first quarter of 2021....
https://knews.kathimerini.com.cy/en/news/cacophony-emerges-as-cyprus-stalls-foreclosure-bills
The finance ministry in the Republic of Cyprus is scrambling for new ways to overcome an awkward impasse on two crucial foreclosure bills, after opposition parties blamed the administration for not doing enough to have the European Commission go along with amendments to protect bad loan guarantors...
https://knews.kathimerini.com.cy/en/news/petrides-things-will-be-difficult-in-the-coming-years
The government will continue supporting households, especially the vulnerable, amid rising inflation, Finance Minister Constantinos Petrides said, warning that tackling inflation is difficult due to its structural nature amid the Ukrainian crisis....
https://knews.kathimerini.com.cy/en/news/cyprus-will-request-ec-permission-to-implement-mortage-to-rent-scheme
Cypriot authorities plan to submit in June an official request to the European Commission for the implementation of a mortgage-to-rent scheme, aiming to address non-performing loans collateralized by primary residences and SME business premises with an estimated contractual value of €3 billion....
https://knews.kathimerini.com.cy/en/business/lower-interest-rates-on-deposits-and-consumer-loans
A decrease in interest rates on deposits and consumer loans and a marginal increase in the interest rates on mortgages can be seen in the data published on Thursday by the Central Bank of Cyprus for March 2022....
https://knews.kathimerini.com.cy/en/news/cyprus-rcb-bank-and-its-kremlin-ties
On March 24, Cyprus’s fourth-largest bank announced it would wind down its banking operations in the wake of the “volatile geopolitical situation” caused by Russia’s invasion of Ukraine a month earlier....
