https://knews.kathimerini.com.cy/en/news/cypriot-banks-predicted-to-surpass-€1-2-billion-profits-in-2024
In a landmark year, Cypriot banks soared to unprecedented heights, boasting profits exceeding €1.1 billion in 2023....
https://knews.kathimerini.com.cy/en/business/alternative-investments-and-portfolio-diversification
In contrast to traditional investments in stocks and bonds, portfolios incorporating alternative investments have historically offered higher returns, a trend that has become more prevalent in recent years. ...
https://knews.kathimerini.com.cy/en/news/whatsapp-s-lowered-age-limit-sparks-controversy
Meta, the parent company of WhatsApp, has revised its minimum age requirement for the messaging app in Europe, lowering it to 13 from 16, a move that has drawn criticism from children's rights advocates....
https://knews.kathimerini.com.cy/en/news/astrobank-s-record-breaking-year-€30-4m-in-profits-for-2023
AstroBank reported Profit After Tax of €30.4 million for 2023, representing a return on equity (RoE) of 13.9%, compared with €12.2 million and RoE of 6.2% for 2022, achieving an increase on profit of 150%, mainly due to increased interest income....
https://knews.kathimerini.com.cy/en/news/cyprus-betting-sector-breaks-records-with-€1-billion-revenue
The revenues of the betting activity in the Republic of Cyprus recorded an upward trend for another quarter, confirming the dynamic and stable growth of the sector.
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https://knews.kathimerini.com.cy/en/news/hellenic-bank-s-pursuit-of-cnp-cyprus-uncovers-uncertainties
The exclusive negotiations between Hellenic Bank and CNP Cyprus Insurance Holdings, a subsidiary of the French insurance powerhouse CNP Assurances, have captured attention for their high stakes and strategic importance....
https://knews.kathimerini.com.cy/en/business/businesses-turn-to-banks-amid-funding-crunch
In 2023, businesses encountered a tough road ahead when it came to securing loans, as costs continued to climb....
https://knews.kathimerini.com.cy/en/news/cyprus-news-digest-from-river-beautification-to-billionaires-bargains
It's been a while since we heard about inaugurations from our president, so this one deserves special mention: ...
https://knews.kathimerini.com.cy/en/news/boeing-s-engine-cowling-detaches-mid-takeoff-strikes-wing
US airline regulators have launched an investigation after an engine cowling on a Boeing plane fell off during takeoff and struck the wing flap, the latest in a series of safety problems facing the aircraft manufacturer.
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https://knews.kathimerini.com.cy/en/news/eurobank-cyprus-reports-€199-4m-profits-in-2023
Eurobank Cyprus unveiled its financial results for 2023, boasting a profit of €199.4 million, marking a significant increase of €105.1 million or 111% compared to 2022.
...
https://knews.kathimerini.com.cy/en/business/employers-organizations-cry-foul-as-water-price-cap-sparks-debate
In a decision that pleased consumers but left employer organizations dissatisfied, the Council of Ministers approved a bill on Wednesday that grants the minister the authority to set a maximum price for specific products, ...
https://knews.kathimerini.com.cy/en/business/state-collects-€90-million-in-taxes-from-casino
The state has seen a boost in tax revenue since the summer of 2018 when the temporary casino debuted in Limassol. The trend continues with the current operation of the resort and satellite locations in the provinces....
https://knews.kathimerini.com.cy/en/business/ceos-globally-forecast-increase-in-revenues-profits-and-deal-making-in-2024-as-business-transformation-moves-up-the-agenda
CEOs are optimistic about their ability to drive revenue growth and profitability in 2024 despite global economic headwinds, according to the latest EY CEO Outlook Pulse survey....
https://knews.kathimerini.com.cy/en/business/pillar-two-readiness-and-technology
As per our previous publications and alerts, we had the opportunity to communicate a significant development - the introduction of BEPS 2.0 Pillar Two or Global Minimum Tax. The European Union unanimously adopted a directive in December 2022 (the ''Minimum Tax Directive''). ...
https://knews.kathimerini.com.cy/en/business/hellenic-bank-posts-impressive-2023-profit-of-€365-4-million
Hellenic Bank reported a substantial profit of €365.4 million for the year 2023, marking a significant upswing from €21.8 million in 2022. The Return on Tangible Equity (ROTE) for 2023 soared to 28.7%, a stark contrast to the 2.0% recorded in 2022....
https://knews.kathimerini.com.cy/en/news/greek-government-to-sell-its-stake-in-piraeus-bank-anticipates-high-demand
Greece will proceed with the complete divestment of the state from Piraeus Bank with the disposition of the 27% it controls through the Hellenic Financial Stability Fund (HFSF)....
https://knews.kathimerini.com.cy/en/business/cyprus-delays-15-multinational-tax-enforcement
Cyprus has yet to enforce the new EU rules introducing a minimum effective tax rate of 15% for multinational corporations operating within EU member states....
https://knews.kathimerini.com.cy/en/news/cera-proposes-reduced-electricity-increases-amidst-parliamentary-discussion
The head of Regulatory Energy Cyprus (Cera), Andreas Poulikkas, briefed the Parliament's Finance Committee on the latest proposals submitted by the Electricity Authority of Cyprus (EAC) for review. ...
https://knews.kathimerini.com.cy/en/news/flavors-of-life-to-benefit-karaiskakio-foundation
Mark your calendars for an unforgettable culinary event organized by the School of Life and Health Sciences of the University of Nicosia in collaboration with the Yale School of Public Health on Tuesday 12th of March at LOFT Restaurant (located on the 12th floor of UNIC’s SIX Residences).
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https://knews.kathimerini.com.cy/en/news/meta-ceo-to-receive-$700m-dividend
Mark Zuckerberg, the CEO of Meta, the parent company overseeing Facebook, Instagram, and WhatsApp, anticipates an annual dividend of $700 million (£549 million), according to recent announcements....
https://knews.kathimerini.com.cy/en/news/us-senators-grill-social-media-ceos-over-child-safety-concerns
In a heated session on Wednesday, U.S. senators confronted leaders of major social media companies, urging swift legislative action to address escalating threats of sexual predation targeting children on their platforms....
https://knews.kathimerini.com.cy/en/news/greek-millionaire-s-$2m-gift-transforms-village
In a surprising twist of fate, the legacy of a frugal Greek millionaire, Steven Zonas, unfolded in 1980, revealing a hidden fortune that transformed his native village, Mexiates in Phthiotis, Greece....
https://knews.kathimerini.com.cy/en/news/cyprus-makes-the-cut-in-new-tax-friendly-nations-list
In a recent announcement, the Ministry of Finance shed light on the revised list of countries enjoying preferential tax status under the Independent Authority for Public Revenue of the Hellenic Republic (IAEA)....
https://knews.kathimerini.com.cy/en/news/new-york-times-accuses-microsoft-and-openai-for-copyright-infringement
In a legal move unveiled on Wednesday, The New York Times has initiated legal proceedings against Microsoft and OpenAI, accusing them of copyright infringement in the development of their artificial intelligence products....
https://knews.kathimerini.com.cy/en/business/as-2023-ends-banks-and-unions-lock-horns-on-pay-structures
The banks and bank employees' unions are at odds over labor issues and the signing of new collective agreements. As we approach the end of 2023, no significant progress has been made in renewing collective agreements during the outgoing year....
https://knews.kathimerini.com.cy/en/comment/opinion/cyprus-housing-crisis-deepens-amid-interest-rate-scandal
With current interest rates, the prospect of repaying a mortgage spans nearly fifty years for an average family, turning homeownership into an elusive dream....
https://knews.kathimerini.com.cy/en/news/cyprus-and-the-porn-industry-high-tech-hub-exposed
For many years, the Republic of Cyprus, due to its art visa law, served as a hub for white flesh trafficking....
https://knews.kathimerini.com.cy/en/news/israeli-authorities-probe-suspected-insider-trading-ahead-of-hamas-attack
In a recent development, Israeli authorities are delving into allegations raised by US researchers who suggest that certain investors might have had advance knowledge of the Hamas plan to attack Israel on October 7....
https://knews.kathimerini.com.cy/en/news/banks-eye-over-1-billion-euro-profits-in-2023
Cypriot banks, including the Greek bank, are poised to rake in substantial profits for 2023, benefitting from the European Central Bank's interest rate hikes....
https://knews.kathimerini.com.cy/en/news/boc-reports-€349-million-in-profits-plans-employee-bonuses-for-2024
In a significant financial turnaround, Bank of Cyprus reported a notable profit of €349 million for the nine months ending September 30, 2023, marking a substantial improvement from the €19 million loss in the same period last year. ...
