https://knews.kathimerini.com.cy/en/business/npl-crisis-highlights-tug-of-war-between-borrowers-and-legislation
The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...
https://knews.kathimerini.com.cy/en/comment/opinion/unmasking-turkey-s-masterful-diplomacy
Both the history concerning fuel in the Occupied Areas and the ongoing journalistic investigation, initially highlighted by "Politis," about the development of Greek-Cypriot properties......
https://knews.kathimerini.com.cy/en/business/fitch
Fitch Ratings released a new report on Monday stating that the credit profiles of Greek and Cypriot banks have significantly improved over the past year due to de-risking and restructuring....
https://knews.kathimerini.com.cy/en/business/ey-cyprus-announces-five-new-partners
EY Cyprus is pleased to announce that its management team has been strengthened with the addition of five new partners and five new directors in 2023, reaching the total number of 31 partners of whom 6 are women, and 17 directors of whom 8 are women....
https://knews.kathimerini.com.cy/en/news/cyprus-approves-€361m-supplementary-budget-for-2023
With criticism against the government's agreement for the purchase of the Metropolitan building, which will house the Ministry of Labor and Social Insurance, the Plenary of the House of Representatives approved the supplementary state budget amounting to €361 million....
https://knews.kathimerini.com.cy/en/news/rising-scams-in-cyprus
Telephone and online scams are on the rise in Cyprus, targeting vulnerable elderly individuals and attempting to swindle their hard-earned money....
https://knews.kathimerini.com.cy/en/news/housing-sales-slow-due-to-inflation-and-construction-costs
The value of transactions in the real estate sector amounted to €1.52 billion in the second half of the year, with the market bearing the impact of the interest hikes, inflation and the increased construction cost....
https://knews.kathimerini.com.cy/en/news/criminals-steal-$20m-from-revolut
Organized criminals exploited a vulnerability in Revolut's payment systems to steal over $20 million from the fintech company, as reported by the Financial Times, citing multiple anonymous sources knowledgeable about the incident....
https://knews.kathimerini.com.cy/en/news/sweden-s-nato-membership-hangs-in-the-balance-as-turkey-poses-last-minute-hurdle
The developments surrounding Sweden’s NATO membership are rapidly unfolding, with indications pointing towards an imminent announcement of an agreement during the Vilnius summit held on July 11-12. However, there remains the possibility that Turkey may disrupt the proceedings at the last moment....
https://knews.kathimerini.com.cy/en/news/eu-commission-proposes-digital-euro-as-cash-alternative
Digital currencies have grown in popularity. Unlike bitcoin, the digital euro would be a central bank digital currency (CBDC), essentially, electronic cash. ...
https://knews.kathimerini.com.cy/en/news/land-sales-surge-in-akamas
The irregularities observed within Akamas' protected area, as highlighted in last Sunday's report by "K," appear to be just one aspect of a broader issue emerging in anticipation of the implementation of the local plan in September....
https://knews.kathimerini.com.cy/en/business/1-unmasking-tax-evasion-on-greek-islands
New technologies, as well as citizens, are bringing cases of major tax evasion to the surface....
https://knews.kathimerini.com.cy/en/comment/opinion/a-government-sans-famille
The title does not pertain to Hector Malot's novel, ''Sans Famille'' (''Without Family''). It relates to the response that the President of the Republic had to provide, in answer to a question from an esteemed colleague at "K" newspaper, Marina Oikonomidou,...
https://knews.kathimerini.com.cy/en/business/russia-s-use-of-chinese-yuan-to-bypass-western-sanctions-may-come-to-an-end
Russia has been using China's yuan to get around sanctions — but at least one major Chinese bank has halted transfers from Russia over fears of secondary sanctions from the West....
https://knews.kathimerini.com.cy/en/comment/opinion/nicosia-real-estate-market-surges-indicating-recovery
Nicosia, the capital city, has broken free from a six-month period of stagnation, exhibiting promising signs of recovery....
https://knews.kathimerini.com.cy/en/business/the-holiday-scam-protecting-yourself-when-booking-online
An increasing number of individuals are opting to plan their vacations online, a trend that, as observed in previous years, carries potential risks and pitfalls. ...
https://knews.kathimerini.com.cy/en/business/innovative-payabl-pos-card-terminals-make-omnichannel-payments-simple-and-easy
Get ready to embrace the future of payments with payabl. - the cutting-edge payments company that's shaking up the industry. In a game-changing move, payabl. has just launched its revolutionary point-of-sale (POS) solution for in-person payments, aimed at transforming the way retailers conduct business. The best part? This is happening right now in Cyprus....
https://knews.kathimerini.com.cy/en/news/€1-million-to-boost-turkish-cypriot-cheese-exports
The European Commission's EU-funded assistance program aimed at eradicating zoonotic diseases (those that jump from animal to human) in dairy animals in areas not under the effective control of the Government of the Republic of Cyprus was officially launched today....
https://knews.kathimerini.com.cy/en/news/parliament-approves-reduced-vat-rate-on-first-homes
The plenary session of the Cyprus Parliament passed on Thursday almost unanimously a law allowing for the imposition of a reduced VAT rate of 5% on the first 130 sqm of a primary residence, including both houses and apartments...
https://knews.kathimerini.com.cy/en/news/finance-minister-warns-of-vat-consequences
With the deadlines long expired and the saga of amending the Value Added Tax Law to apply the reduced rate of 5% to specific residential square meters dragging on, Finance Minister Makis Keravnos sounds the alarm, emphasizing the palpable risk of Cyprus being taken to the European Court and fined....
https://knews.kathimerini.com.cy/en/business/eba-tightens-its-grip-in-response-to-sanctions
Following the uproar caused by the lists of sanctions issued by the US, UK, and European authorities, the European Banking Authority (EBA) is tightening its standards in response. ...
https://knews.kathimerini.com.cy/en/comment/opinion/sanctions-have-exposed-our-hypocrisy
The initial wave of sanctions, enforced by the UK and the US against Cypriot entities (individuals, law firms, service companies) for facilitating transactions to those impacted by the sanctions imposed on Russia following the invasion of Ukraine,...
https://knews.kathimerini.com.cy/en/business/cyprus-banks-strict-adherence-to-sanctions-worries-legitimate-entities
Banks have become cautious regarding sanctions imposed by the USA, EU, and UK, and they are not willing to take any risk in serving individuals or entities in Cyprus who are subject to sanctions....
https://knews.kathimerini.com.cy/en/news/non-compliance-with-us-sanctions-bad-says-cbc-governor
No impact to financial stability has been recorded so far by the US and UK sanctions against Cypriot persons and entities for assisting Russian sanctioned nationals apart from Cyprus’ credibility, Governor of the Central Bank of Cyprus Constantinos Herodotou said on Wednesday, noting that non-compliance would pose 'very negative consequences to the economy'...
https://knews.kathimerini.com.cy/en/business/it-s-surprising-how-little-was-frozen
Upon his arrival at Larnaca airport last Wednesday, Justice Commissioner Didier Raeder brought with him two pressing questions. Firstly, how is it that a country like Cyprus, which has been heavily infiltrated by Russian capital for several years, has only managed to freeze a mere 104 million euros worth of assets belonging to oligarchs under EU sanctions?...
https://knews.kathimerini.com.cy/en/business/q1-2023-sales-reach-€1-7-billion-despite-challenges
During the first quarter of 2023, the total value of properties sold was €1.7 billion. Despite facing numerous challenges that are starting to impact the real estate market, it has shown resilience...
https://knews.kathimerini.com.cy/en/business/expanding-profitability-and-strengthening-capital-position
Group Financial Results for the year ended December 31, 2022...
https://knews.kathimerini.com.cy/en/news/cyprus-deposits-reach-€51-9b-loans-at-€25-1b-in-march-2023
Total deposits reached €51.9 billion in March 2023, while total loans stood at €25.1 billion, according to data published by the Central Bank of Cyprus on Tuesday, in the April 2023 edition of Monetary and Financial Statistics....
https://knews.kathimerini.com.cy/en/news/probe-into-t-c-businessman-s-acquisition-of-g-c-properties-in-varosha
Government officials have refuted reports published by T/C newspaper Yeni Bakis which claimed that a T/C businessman had acquired three Greek Cypriot hotels and two floors of apartment buildings in the closed city of Famagusta with the approval of the Ministry of Interior of the Republic....
https://knews.kathimerini.com.cy/en/business/1-april-newsletter-of-k-treppides-co-ltd-cysec
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....
