Search

121. Economic events that will be remembered in 2022

The energy crisis, which intensified after Russia's invasion of Ukraine and resulted in skyrocketing gas prices, took the lead throughout the year....

122. Finance Ministry: 'Cyprus economy will not enter a recession'

There will be a significant slowdown in economic activity next year, we will be affected by increased energy prices and borrowing costs, but "inflation in Cyprus is being reined in at lower levels" compared to other European member states, ...

123. Gatzke-Hellenic relations have returned to normal

After taking a brief leave of absence, Hellenic Bank CEO Oliver Gatske has returned to his duties. Mr. Gatske was given the green light to return to his office on Monday after the Cyprus Securities and Exchange Commission cleared him of any wrongdoing....

124. Cyprus to extend FTX EU license suspension

Cyprus’ securities regulator plans to extend the suspension of the license of FTX EU and will meet to discuss the matter next week, a spokesperson said on Tuesday...

125. Gatzke returns to Hellenic

Oliver Gatzke, CEO of the Hellenic Bank, has returned to the Bank of Greece's headquarters as of today, December 12....

126. Shipping tycoon wants to transfer biz to Cyprus

A Norwegian-born Cypriot billionaire wants to move his shipping company to Cyprus to reap benefits, including an EU-approved tonnage tax regime available only to tax residents of the island, which is scrambling to keep its industry afloat amid sanctions against Russia...

127. Tying up loose ends at Hellenic

Hellenic Bank experienced several changes in 2022, as it closed outstanding issues while also opening new chapters. Hellenic Bank made changes to its top management, staff, shareholding composition, and labor issues in the fourth quarter of 2022, ...

128. Hellenic CEO cleared of any wrongdoing

Oliver Gatzke, CEO of Hellenic Bank, has not been linked to any suspicious activity, according to the Cyprus Securities and Exchange Commission (CySEC)....

129. 'FTX-style crypto crash won’t happen in Europe'

The cryptocurrency world is reeling after the collapse of crypto exchange FTX — but EU policymakers are patting themselves on the back....

130. Investors lost $1 billion on FTX, prompting calls for industry regulation

The turmoil in the cryptocurrency world continues unabated following the bankruptcy of the FTX platform, which landed its founder, Sam Bankman-Freid, bankrupt almost overnight. ...

131. FTX's European operations suspended indefinitely

The company is taking a wait-and-see approach until further notice in order to deal with FTX International and the more than $8 billion hole it has created...

132. Cyprus regulator to suspend FTX's license

FTX's European Union license in Cyprus could be suspended in yet another blow to Sam Bankman-Fried's crypto exchange, according to Bloomberg....

133. Household debt in Cyprus was 81% of GDP in June

Household debt stood at EUR 20.1 billion at the end of June 2022, with the relevant debt ratio standing at 81% of GDP, a slight decrease compared to the previous quarter due to GDP growth....

134. September Newsletter of K. Treppides & Co Ltd: European Securities and Markets Authority

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in the field of auditing and accounting services with offices in three countries....

135. US-based Lone Star to revise offer for Bank Of Cyprus

US-based equity fund Lone Star said it is considering options with regard 'to the possibility of making a revised offer proposal to the Board of the Bank of Cyprus.'...

136. 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....

137. Cyprus scrambles to block hostile bank takeover

The government in the Republic of Cyprus is racing against the clock to arm itself with legal tools to prevent a takeover of the country’s biggest bank by an American private equity firm, which has until next month to submit a final offer that some shareholders may find hard to resist...

138. 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....

139. Tighter controls and penalties for cross-border transactions in Cyprus

The Cyprus Securities and Exchange Commission (CySEC) is introducing additional controls for cross-border services and announced that investor protection will be strengthened under new rules regarding how complaints are handled....

140. Cyprus looks to become global crypto hub with new bill

Cyprus is vetting a cryptocurrency “umbrella” bill in a bid to establish the Mediterranean nation as a premier destination for digital asset innovators and companies....

141. 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....

142. K. Treppides & Co Ltd: Cryptocurrency - Having your regulated firm able to trade in cryptocurrency

Decentralized digital currency era began in 2008 by an unknown person named Satoshi Nakamoto which invented Bitcoin, the very first cryptocurrency. ...

143. K. Treppides & Co Ltd: Cryptocurrency: The requirement of a firm to service the local market trading in cryptocurrency

144. Elon Musk snaps up $3bn Twitter stake

Elon Musk has taken a 9.2% stake in Twitter, according to a US securities filing. The news sent Twitter shares soaring about 25% in pre-market trading....

145. K. Treppides & Co Ltd- Cryptocurrencies: Regulating cryptocurrency trading in Cyprus

146. K. Treppides & Co Ltd- Cryptocurrencies: Investment firms trading in cryptocurrencies. Authorization required.

Cryptocurrencies have taken the world by surprise in recent years, and transformed as the absolute trend in the virtual investing world. ...

147. K. Treppides & Co Ltd - Cryptocurrencies: Forex Companies trading in cryptocurrencies as underlying asset. How to apply.

Derivatives on virtual currencies / cryptocurrencies, such as contracts for differences (CFDs), options and futures, can qualify as financial instruments under MiFID II. Subsequently, the provision of investment services in relation to financial instruments with cryptocurrencies as underlying asset in and/or from Cyprus, requires specific authorisation by the Cyprus Securities and Exchange Commission (CySEC)....

148. Europe's banks reveal billions worth of Russia risk as sanctions bite

Credit Suisse said it had gross exposure to Russia of 1.6 billion Swiss francs ($1.73 billion) at the end of 2021, the latest European bank to reveal the size of potential losses as Western sanctions shut Russia out of the global financial system....

149. Switzerland will freeze Russian owned crypto assets

Switzerland is to freeze all crypto assets held within its borders that are owned by Russians and the country’s businesses sanctioned by the EU....

150. Cyprus sees increase in investment funds

The number of investment funds in Cyprus recorded a new high in December 2021, reaching 257, with their total assets reaching 8.7404 billion euros, achieving a 2.4% increase, in comparison to September 2021, according to data published by the Central Bank of Cyprus....