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181. Cypriot loan servicers struggle as red loans hit €21.2B

While non-performing loans (NPLs) in Cypriot banks are gradually declining, the situation remains dire for "red loans" held by loan acquisition companies, or "servicers." ...

182. FTC accuses Meta of putting profits ahead of user privacy

A years-long study has uncovered that major social media and internet companies are involved in "mass surveillance" to capitalize on users' personal data, according to the U.S. Federal Trade Commission (FTC)....

183. Moody’s sees positive outlook for Hellenic Bank following Eurobank deal

Moody’s upgraded Hellenic Bank’s credit rating to Baa2 from Baa3 on Wednesday, citing the recent acquisition of a 56% stake by Eurobank S.A. The agency also revised the bank's outlook to positive. ...

184. Eurobank and India collaborate to create strategic business council

Mr. Ioannou raised concerns about whether the bank has a plan to maintain its strong profitability, which has largely come from rising interest rates......

185. US sanctions two Cypriots over spyware threat

Two Cypriot individuals were included in the new designations issued on Monday by the Treasury’s Office of Foreign Assets Control (OFAC)....

186. Cyprus secures majority of EU funds, with minor tax reform pending

The European Commission has given Cyprus the green light for most of its request for €152 million in funding as part of the EU’s Recovery and Resilience plan, which aims to boost economies after the pandemic. Out of 38 goals Cyprus needed to meet, 37 were approved....

187. Cypriot President criticized for overtime and pension controversies

Last September, Cypriot society witnessed the debacle involving Doxa Komodromou, who, despite being an official, billed the state for overtime at the president's request for events and speeches outside regular hours....

188. Bank of Cyprus to re-list on Athens exchange after seven years

The Bank of Cyprus will re-list on the Athens Stock Exchange (ASE) after a seven-year absence, following the approval of two resolutions by shareholders at an Extraordinary General Meeting on September 13, 2024. ...

189. Wizz Air’s 7-hour flights start at £89 if you're up for a squeeze

Ultra-low-cost carrier Wizz Air will maintain its no-frills offering even as it introduces longer flights, betting that passengers will "suffer the pain" for cheaper fares....

190. Second Quarter & First Half 2024 Financial Results

AEGEAN announces its financial results for the Second Quarter and First Half of 2024. ...

191. Cyprus faces surge in online scams

Online scams are becoming a serious issue in Cyprus, with recent data revealing a sharp increase in fraudulent activities. In the past 25 days, authorities have reported eight significant fraud cases, totaling over half a million euros in losses....

192. AEGEAN announces a €25M Investment in Volotea

Aegean Airlines S.A. (''AEGEAN'') is pleased to announce an investment of €25M in Volotea S.L., one of Europe’s leading low-cost carriers based in Barcelona, Spain....

193. Hellenic Bank's profits surge amid higher lending rates

Hellenic Bank, Cyprus’ second-largest lender, has had a strong start to 2024, reporting a net profit of €189 million in the first half of the year—a solid 18% increase from last year. This boost in profit is mainly due to a 30% rise in interest income, driven by higher European Central Bank (ECB) interest rates....

194. Cyprus banks set for major changes in September

September will bring significant shifts for Cyprus's two largest banks....

195. Why we failed as a country

In July, the resilience of Cypriot society was tested once again as it faced yet another challenge, underscoring its entrapment in heavy fuel oil. This entrapment translates into an annual fine of €200 million due to emissions. ...

196. Illegal tobacco smuggling from occupied territories hits new high in Cyprus

Last Friday, two Cypriots and a British national were apprehended at Paphos Airport with illegal tobacco products valued over €30,000 while attempting to smuggle them into the UK....

197. Limassol resident loses €30,000 in cryptocurrency scam

A 54-year-old resident of Limassol reported to the police yesterday that he was scammed out of €30,000 by an online scammer posing as a cryptocurrency investment advisor....

198. Politico: Cypriot firm linked to Belarusian leader exploits sanctions loophole

A recent investigation by Belarusian journalists has uncovered that a company based in Cyprus is profiting from inflated contracts related to the export of potash, a key ingredient in fertilizer, from Belarus....

199. Bank of Cyprus sees 23% profit growth, raises financial targets

The Bank of Cyprus has announced a 23% increase in its profit after tax for the first half of 2024, reaching €270 million, compared to the same period in 2023. ...

200. Limassol man duped out of €30,000 in cryptocurrency scam

201. Cypriot banks show resilience amid challenges, says CBC Governor

Despite the continuous challenges, the Cypriot banking system continues to register a positive course, which is reflected in the main supervisory indicators, Governor of the Central Bank of Cyprus (CBC), ...

202. Corruption at the heart of the Cyprus problem

Is there any doubt that corruption is a major reason why the Cyprus problem remains unresolved? A recent example is the Vasiliko case, the construction project of the ''Liquefied Natural Gas Storage and Regasification Terminal'' in Vasiliko....

203. Eurobank Cyprus reports €105.7M net profit for H1 2024

Eurobank Cyprus reported a net profit of €105.7 million for the first half of 2024, marking a 16% increase, or €14.9 million, compared to the same period in 2023....

204. Fruits and perishables made of gold

Soaring retail prices for fresh fruits and vegetables have heavily impacted both consumers and producers in recent months. ...

205. Cyprus ranks second in EU for workers unable to afford vacations

Cyprus recorded the second-largest share of workers unable to afford vacations in 2022 among EU member states, with 25% of its workforce affected, according to an analysis of Eurostat data by the European Trade Union Confederation (ETUC)....

206. Eurobank to revamp Hellenic Bank's leadership in September

Eurobank is now focusing on the next steps following the completion of its tender offer for a 100% acquisition of Hellenic Bank, finalized on Tuesday, June 30, 2024. ...

207. Greek firms fuel business expansion across Cyprus

The investment climate in Cyprus has significantly improved since the crisis era of 2013, attracting substantial interest from Greek companies....

208. Cyprus surges in high-speed internet and tech jobs

Cyprus is making notable progress in its digital transformation, with coverage of very high capacity networks (VHCN) reaching 77.1% in 2023, a 28.5% increase from the previous year, according to the Deputy Ministry of Research, Innovation, and Digital Policy....

209. FT: Unilever to cut 1/3 of office jobs in Europe

Unilever, one of the largest distributors of consumer goods such as Dove, and BEn & Jerry's, Lipton, Knorr, etc., has announced plans to eliminate a third of its office-based roles in Europe by the end of 2025, ...

210. Cyprus sets course for cheaper electricity in 2025

Energy, Commerce, and Industry Minister George Papanastasiou unveiled Cyprus' ambitious plans for the Electricity Authority of Cyprus (EAC) during a press conference in Nicosia on Tuesday. ...