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151. Property sales surge to 15-year high due to foreign buyers

Residential property sales in Cyprus hit a 15-year record high in the second quarter of 2023, with significant increases in prices, according to data released by the Central Bank of Cyprus....

152. Cyprus deposits bounce back with €87.7 million growth

Total deposits recorded a noteworthy uptick in September 2023, rebounding from two consecutive months of decline, according to data released Wednesday by the Central Bank of Cyprus....

153. KEDIPES prepares 60 million euro 'Mortgage-to-Rent' initiative

The sale of primary residences worth up to 350 thousand euros faces a potential new suspension. As of the end of October, no additional steps have been taken regarding divestments....

154. €3.93 billion windfall from EU on the horizon

The funds absorbed by Cyprus from European funds have exceeded the amount of Cyprus's contributions to the EU, said member of the EU Court of Auditors, Lefteris Christoforou, presenting the annual report of the Court for 2022 to President of the House of Representatives Annita Demetriou on Thursday....

155. New measures unveiled for energy and housing

In a decisive move to support Cyprus' households and businesses, the Council of Ministers, under the leadership of President Nikos Christodoulides, unveiled a comprehensive package of immediate and medium-term measures today....

156. 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. ...

157. Acquisition talks between Astrobank and CDB Bank heat up

As of the beginning of the week, high-ranking officials from both banks had a meeting to discuss transaction details and the way forward....

158. 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. ...

159. 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....

160. 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....

161. 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....

162. 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....

163. 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....

164. 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....

165. 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....

166. 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. ...

167. 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....

168. 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....

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

170. 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....

171. 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, ...

172. 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. ...

173. 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....

174. 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....

175. 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."...

176. 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. ...

177. 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....

178. 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....

179. 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....

180. 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....