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OPAP Contests €24.5m Greek Fine for EU Competition Rule Breach
The fine stems from complaints filed by the Hellenic Cooperative of Professional Lotteries, accusing OPAP of unfairly implementing...
Oct 3, 20232 min read


Cyprus Returns to Investment Grade as Moody's Upgrades Credit Rating
Moody's, the rating agency, has elevated the credit rating of the Republic of Cyprus, marking the country's return to investment grade...
Oct 3, 20232 min read


Bank of Cyprus Wins Multiple Awards at World's Best Digital Banks Awards 2023
The Bank of Cyprus has announced that it has received five prestigious awards at the World's Best Digital Banks Awards 2023, hosted by...
Sep 28, 20232 min read


Rising Property Prices Raise Concerns in Cyprus Real Estate Market
The surging property prices in Cyprus in recent years, fueled by increased demand and escalating construction material costs, have raised...
Sep 25, 20232 min read


Cyprus Sees Inflation Rebound in August 2023 Driven by Food Prices
In August 2023, Cyprus witnessed a notable resurgence in inflation, largely attributed to a surge in food prices, marking the end of a...
Sep 21, 20232 min read


Cyprus Forecasts Robust Economic Growth for 2023 Despite Global Uncertainties
Cyprus is poised to maintain strong economic growth in 2023, even in the face of global uncertainties, according to an analysis by...
Sep 21, 20232 min read


TechIsland Hosts Workshop on Attracting Foreign Tech Companies in Cyprus
TechIsland, Cyprus's prominent tech business association, marked a significant achievement with the conclusion of the "Building Tech...
Sep 20, 20232 min read


Cyprus to Launch "Photovoltaics for All" Plan to Promote Solar Energy
Cyprus is set to introduce a new initiative called the "photovoltaics for all" plan in the coming two months, aimed at encouraging the...
Sep 19, 20231 min read


Supreme Court Releases Over 5.3 Billion Euros in Assets of Former Marfin Laiki Bank Directors
In a recent landmark decision dated September 13, 2023, the Supreme Court has ordered the release of assets totaling more than 5.3...
Sep 19, 20232 min read


Cyprus Golden Passport Scandal: Trial of Four Accused to Commence in October
The trial of four individuals accused of facilitating the acquisition of Cypriot Golden Passports for foreign nationals in exchange for...
Sep 19, 20232 min read


Deputy Minister Urges Cyprus Excellence Centers to Leverage Research for Funding
During a session of the House Committee on Commerce, the Deputy Minister of Innovation, Research, and Digital Policy, Philippos...
Sep 15, 20232 min read


Limassol Real Estate Sales Surge to Nearly Half a Billion Euros in Q2 2023
A report released by Cypriot firm Ask Wire has revealed that real estate sales in Limassol reached a total value of nearly half a billion...
Sep 13, 20232 min read


Cyprus Borrowers Association Highlights Concerns Over Non-Performing Loans Resolution
The Cyprus Borrowers Association (Syprodat) has expressed concerns over the resolution of non-performing loans (NPLs) in Cyprus. Syprodat...
Sep 8, 20232 min read


Cyprus Sees Modest Recovery in Net New Loans Amid Rising Borrowing Costs
In July 2023, Cyprus witnessed a modest recovery in net new loans, reaching €300.5 million, up from €240 million in the previous month....
Sep 4, 20232 min read


Hellenic Bank Posts Strong First Half Profits Amid Challenging Environment
Hellenic Bank, a prominent financial institution in Cyprus, has announced a robust profit of €160.2 million for the first half of 2023....
Sep 1, 20233 min read


Cypriot Passport Climbs Global Ranking, Offering Access to 180 Countries
The Cypriot passport has surged in global rankings, securing its position among the most influential passports in the world. With...
Sep 1, 20231 min read


Association of Cyprus Banks Clashes with Finance Minister Over Interest Rates and Taxes
The Association of Cyprus Banks is at odds with Finance Minister Makis Keravnos over his stance on the cost of higher interest rates and...
Aug 31, 20233 min read


Cyprus' Transportation Sector Sees Strong 17.3% Growth, Led by Air Transport
Cyprus' transportation and storage sector has witnessed a substantial surge of 17.3% during the second quarter of 2023 in comparison to...
Aug 24, 20232 min read


Greece: A Rising Star in Emerging Market Investments, Backed by Economic Reforms and Robust Growth
In a recent development, Marshall Stocker, co-head of emerging markets at Morgan Stanley, has spotlighted Greece as an increasingly...
Aug 21, 20234 min read


Cyprus Trade Deficit Widens in First Half of 2023 Despite Import Decrease
The trade deficit for the first half of 2023 in Cyprus has surged by approximately €574 million compared to the same period last year, as...
Aug 11, 20232 min read
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