Cyprus Business Now
Property prices dropped in the second quarter of 2021 according to real estate data experts WiRE FS.
On a quarterly basis, prices for apartments fell by 0.14 per cent, for houses by 0.36 ...
Hellenic Bank CEO Gatzke announces ambitious programme to ‘reshape’ organisation
The new CEO of Hellenic Bank Oliver Gatzke on Monday announced an ambitious programme to ‘reshape’ the organisation.
Oliver Gatzke
“I am pleased to announce my official appointment by the ...
Bitcoin nearly back to $40,000; ether close to $2,350
Cryptocurrencies popped to the top of recent ranges on Monday as short sellers bailed out in the wake of a strong week and while traders hoped a handful of positive ...
UK will take 20 years to manage pandemic debt
It will take 20 years to repay borrowings by the UK government for pandemic spending, reports released on Friday showed.
The British government will be exposed to financial risks from its £372 ...
How to play the bitcoin rebound – analysts
Bitcoin has fallen to about half its record high in April of $63,000, and it’s been holding in that range for some time. A rebound is expected by many analysts, ...
Non-performing exposures rose in April
Non-performing exposures (NPEs) rose slightly in April pushed upwards by increased restructuring, according to Central Bank data released on Saturday.
NPEs in April reached €5.14bn compared with €5.13bn the previous ...
Moody’s upgrades Cyprus’ rating to Ba1, changes outlook to stable from positive (updated)
Moody’s ratings agency has upgraded Cyprus’ sovereign rating to Ba1 from Ba2 and changed its outlook to stable from positive on a decrease in banking sector risks and the ...
How did Danske Bank wind up laundering money?
By Elena Hadjidemetriou and Dr. Louisa Borg Haviaras
What went wrong at Dankse Bank? In 2018, Denmark’s largest bank, admitted that its Estonian branch had moved more than $230 billion from ...
Eurobank takes 9.9 per cent stake in Hellenic Bank
Eurobank on Friday announced the acquisition of a 9.9 per cent holding (40,800,000 shares) in Hellenic Bank, according to a statement released on Friday.
It also announced entering into a share purchase ...
ECB pledges low rates for longer as Delta variant threatens recovery
The European Central Bank pledged on Thursday to keep interest rates at record lows for even longer to boost sluggish inflation and warned that the rapidly spreading Delta variant of ...
Bank of Cyprus, Hellenic Bank get Moody’s upgrade
Moody’s Investors Service (“Moody’s”) has on Wednesday upgraded Bank of Cyprus Public Company Limited’s (Bank of Cyprus) and Hellenic Bank Public Company Ltd’s (Hellenic Bank) long-term ...
Britain unveils plan to return NatWest to majority private control
Britain’s government on Thursday unveiled a blueprint for returning NatWest (NWG.L) to majority private ownership within a year, more than a decade since bailing out the lender at ...
EFG sees net profit triple in first half of 2021
Zurich-based EFG Bank, present in Limassol and Nicosia, saw IFRS net profit triple to CHF 106.5 million (€98.4 million) on CHF 629.3 million (€581.2 million) in revenue for the first half of 2021, according to ...
Musk says Tesla ‘most likely’ to accept bitcoin again
“I might pump, but I don’t dump,” said Elon Musk on Wednesday. “I definitely do not believe in getting the price high and selling … I would like to see ...
‘Cyprus now has a central plan to transform the economy’ – Finance Minister
The public consultation on “Vision 2035: Long-Term Strategy for the Sustainable Development of the Cypriot Economy,” was launched on Wednesday.
Speaking at the launch conference, Finance Minister Constantinos Petridis noted that ...
RCB Bank’s credit rating affirmed, Outlook upgraded to positive by Moody’s
Moody’s Investors Service has affirmed RCB Bank’s deposit rating and upgraded its outlook from stable to positive in its newly published and updated press release on the Bank.
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Brexit: UK and EU set for conflict over North Ireland border as Frost seeks to change the rules
The UK will on Wednesday announce demands that are expected to violate post-Brexit trading arrangements between Great Britain and Northern Ireland.
The Northern Ireland Protocol, agreed by the UK and ...
EU to ‘close the door’ on money-laundering
The European Commission on Tuesday proposed the creation of an anti-money laundering authority to clamp down on financial crime across the European Union (EU).
“These are bold steps to close ...
Bitcoin falls below $30,000 for first time in a month
Bitcoin fell on Tuesday to its lowest in almost a month, slumping below $30,000 as regulators continued calls for tighter checks on cryptocurrencies.
The world’s largest cryptocurrency fell as much ...
Robinhood expecting up to $35 bln valuation in huge IPO
Robinhood Markets Inc is targeting a valuation of up to $35 billion in its initial public offering in the United States, the company revealed in a Monday filing, setting the stage ...
Libyan conflict has cost $580bn; EU plans military mission
The EU is firming up plans for a military mission to Libya in order to compete for influence with foreign powers there, the EUobserver reported on Monday.
This is in ...
Cyprus economy gets growth spurt
The Cypriot economy continues to recover after registering an impressive year-on-year growth rate of 11.2 per cent in June according to a report by the University of Cyprus Economic Research Centre.
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Binance ditches ‘stock tokens’ as global crackdown widens
Binance said on Friday it had stopped selling digital tokens linked to shares, as Hong Kong’s financial watchdog became the latest in a string of regulators to crack down ...
OPEC+ boosts production as UAE, Saudi Arabia agree to truce
The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries, known as OPEC+, agreed in an online meeting on Sunday to boost oil production by 400,000 barrels a day as ...