Cyprus Business Now
Employment in the broader public sector witnessed a notable annual increase in Q4 of 2023, rising by 2,765 people, or 3.8 per cent, compared to the corresponding quarter of 2022.
According to Cystat, the ...
Cyprus already in line with eurozone fiscal policy plan
Finance minister Makis Keravnos expressed satisfaction with the eurozone’s fiscal policy orientation for 2025, as Cyprus’ conservative fiscal approach was already in line with it.
He added that the joint ...
Eurozone to phase out energy support measures
Eurozone finance ministers decided to gradually phase out energy support measures in 2024 in favour of fiscal prudence, aimed at reducing government deficits.
The gradual abolition of energy support measures was ...
Bitcoin hits record above $71,000 as demand frenzy intensifies
Bitcoin hit a record high on Monday above $71,000, as the surge in the biggest cryptocurrency showed no signs of slowing down.
Britain’s financial watchdog on Monday became the latest ...
Europe’s stocks fall from record highs, inflation data in focus
European stock indexes fell from recent record highs on Monday, and Wall Street looked set for losses, as traders grappled with an uncertain economic outlook and waited for U.S. ...
Trade deficit decreases substantially in January
Cyprus saw a significant reduction in its trade deficit, which stood at €566.5 million in January 2024, according to the Cyprus Statistics Service Cystat.
This was a marked decline compared to €1.419.9m ...
Cyprus Business Now: weekly wrap-up
Here are the top business stories in Cyprus from the week starting March 4:
Recently, consulting and advisory firm PwC Cyprus hosted a significant event to present its annual report on ...
ECB policymakers line up behind upcoming rate cut
European Central Bank policymakers on Friday lined up in support of an interest rate cut in the coming months as inflation in the eurozone falls faster than they had anticipated.
...
Eurobank Cyprus after-tax profits surge to €199.4 million in 2023
Eurobank Cyprus on Friday released its financial results for the year 2023, posting an after-tax profit of €199.4 million, reflecting a significant increase of 111 per cent over the previous year.
In addition, ...
ECB takes small step towards rate cut as inflation falls
The European Central Bank kept borrowing costs at record highs on Thursday but took a first, small step towards lowering them, saying inflation was easing faster than it anticipated only ...
Euro is back on the scene for global central banks
Once hurt by crises and deflation, the euro is gaining popularity among central bank reserve managers thanks to a return to positive rates and geopolitics challenging king dollar’s appeal.
...
Russia’s Sberbank: AI to make 60 per cent of corporate loan decisions by year-end
Decisions on 60 per cent of corporate loans issued by Russia’s top lender Sberbank (SBER.MM) will be made using artificial intelligence (AI) by the end of this year, CEO ...
UK lawmakers warn of risks in huge government bond sales
Britain’s government needs to do a better job of monitoring risks posed by its sales of bonds which have surged after a string of shocks to the economy, a ...
Kedipes posts record revenue of €440.8 million in 2023
The year 2023 marked the highest annual inflows since the establishment of the state-owned asset management company Kedipes in 2018, according to statements made on Tuesday by chairman Lambros Papadopoulos.
As of ...
CBC issues revised directive on bounced cheque registry
The Central Bank of Cyprus (CBC) this week issued a new directive regarding the operation of the central registry of information for issuers of bounced cheques, aiming to refine existing ...
Cyprus sees 47 per cent surge in new loans, corporate borrowing spikes
Cyprus saw a substantial 47 per cent increase in the issuance of new loans during the first month of the year, according to a report released this week by the Central ...
Timing is everything: Five questions for the ECB
The European Central Bank meets on Thursday, with markets eyeing any nudge towards an interest rate cut as inflation weakens.
The ECB, expected to hold rates at a record 4 per ...
Santander cuts 320 US jobs in digital shift, according to reports
Spain’s Banco Santander SA (SAN.MC) has cut roughly 320 jobs in the US as it seeks to focus more on digital operations, Bloomberg News reported on Sunday citing a ...
Deposit interest rates decrease in January, according to CBC
The Central Bank of Cyprus (CBC) on Monday released a report revealing a decline in deposit interest rates in January 2024, alongside a mixed picture in interest rates for key loan ...
Emergency cash at a cost: The reality of payday loans
Imagine yourself in a financial bind, needing quick cash to cover an unexpected expense. This scenario, all too common, leaves many people considering an option typically considered as a last ...
Cyprus banks on track to meet MREL goals, according to SRB chief
Chair of the Single Resolution Board Dominique Laboureix has commended Cypriot banks for their progress in aligning with the Minimum Requirements for Own Funds and Eligible Liabilities (MREL).
It should ...
Cyprus Business Now: weekly wrap-up
Here are the top business stories in Cyprus from the week starting February 26:
The Cyprus Marine Club (CMC), a renowned non-profit organisation that plays a pivotal role in bringing together ...
Cyprus Central Bank and Bank of Greece sign cooperation agreement
The Central Bank of Cyprus (CBC) and the Bank of Greece (BoG) on Friday signed a Memorandum of Cooperation during a ceremony held in Nicosia.
The signing ceremony took place ...
Cyprus Stock Exchange budget approved for 2024
In a marathon session that extended into the early hours of Friday, the House unanimously approved the budget of the Cyprus Stock Exchange (CSE) for 2024.
At the same time, the ...