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Cyprus is facing an increasingly severe housing challenge that is placing growing pressure on young people and first-time homebuyers, according to the Cyprus Borrower Protection Association (Syprodat), which is urging swift and meaningful action as the European Union steps up efforts to address rising housing costs across the bloc. This week, Syprodat said a newly unveiled European Commission initiative on affordable housing underscores the urgent need for comprehensive and

Warner Bros Discovery has urged its shareholders to reject Paramount Skydance’s $108.4 billion (£80.75bn) takeover offer, in a dramatic development in the ongoing battle for control of one of Hollywood’s most storied studios. Paramount had argued that its bid was “superior” to the $72 billion deal Warner Bros reached with Netflix for its film and streaming businesses. However, Warner Bros Discovery’s board has “unanimously” recommended shareholders turn down Paramount’s offer

Millions of people across the European Union continued to move in and out of work in mid-2025, despite overall labour market indicators suggesting relative stability. New figures published by Eurostat this week reveal substantial flows between employment, unemployment and economic inactivity between the second and third quarters of the year, shedding light on the scale and direction of labour market movements beneath the surface. Eurostat reported that “3.1 million unempl

A new World Inequality Report portrays a global economic structure sharply skewed in favour of a minuscule wealthy minority, revealing how concentrated wealth, regressive tax advantages, unpaid care labour, and climate impacts reinforce one another. According to the findings, fewer than 60,000 of the world’s richest individuals — enough people to pack a football stadium — now possess more wealth than half of humanity combined. The authors underscore that extreme disparities

Eurobank announced on Wednesday that it has officially stepped into the role of principal employer for the MAP multi-employer provident fund based in Nicosia, a change that took effect on December 8. The bank characterised the move as a clear expression of confidence in the Cypriot economy and its long-term growth prospects. “This development constitutes a significant upgrade for the fund and is expected to contribute substantially to the further enhancement of MAP’s corpor

Eurobank and National Bank of Greece (NBG) have emerged at the top of European banking rankings for return on equity, according to a pan-European report by UBS, underscoring the sustained profitability and resilience of the Greek banking sector. The findings, shared by Greek business outlet Newmoney, place both Eurobank and NBG firmly in the upper echelons of the European ranking for return on equity, reflecting gains that are “not a cyclical phenomenon but is instead the res

While the European Union continues to push for greater banking consolidation across the continent, Italy’s banking landscape tells a far more complicated story. The attempted takeover of Mediobanca by Monte dei Paschi di Siena (MPS), involving two of Italy’s most prominent financial institutions, has unfolded as a complex interplay of financial manoeuvres, political decisions, and judicial scrutiny. Government support for the creation of a new banking powerhouse has ignited i

Gold prices remained largely unchanged on Friday, with stronger U.S. Treasury yields countering the support typically provided by a softer dollar, while market participants looked ahead to key inflation data that could shape expectations for the Federal Reserve’s next policy moves. As of 0524 GMT, spot gold was steady at $4,215.92 per ounce, positioning the metal for a 0.3% weekly decline. U.S. gold futures for December delivery inched 0.1% higher to $4,245.70 per ounce.

Netflix has entered exclusive negotiations to acquire Warner Bros Discovery’s film and television studios, along with its streaming operations, after submitting an offer valued at $28 per share, according to a source with direct knowledge of the discussions. The parent company of HBO had been reviewing strategic alternatives and received a second round of bids this week following initial proposals from Netflix, Paramount Skydance and Comcast. It was previously reported th

NICE Actimize’s move to seek a buyer marks a major shift within the financial crime technology sector, drawing renewed scrutiny toward how valuation expectations correspond with long-term performance indicators. The division is exploring strategic alternatives during a phase defined by uneven financial results, tighter capital conditions, and an evolving set of corporate priorities. This process reinforces how historical profitability, contributions to group performance, and

Cyprus’ parliamentary commerce committee is moving closer to approving a reduction in the turnover threshold that determines whether companies can undergo a simple financial statement review rather than a full audit, settling on €400,000. This represents a significant narrowing from the €900,000 level originally proposed by Disy. The matter returned to the committee on Tuesday after the taxation department, the Central Bank of Cyprus (CBC) and the Association of Cyprus Ba

The 16th Pension Forum in Nicosia placed the spotlight on the major challenges confronting Cyprus’ pension system, while also exploring fresh perspectives arising in an environment undergoing rapid transformation, according to the event overview. The forum, titled ‘Making better decisions – New perspectives for the pension’, took place with the support of Eurobank. During the discussions, speakers emphasised that the demand for strategic flexibility and specialised expert

Nairobi’s bustling streets are now echoing with more than just the rhythm of daily life; they resonate with the hum of Bitcoin adoption, as “Bankless Bitcoin” ATMs appear in popular shopping centers. These machines represent more than a technological advance—they are a lifeline for many, enabling cash-to-crypto conversion in spaces traditionally dominated by conventional banking. Yet, beneath this surge in accessibility lies a stark reality: regulatory uncertainty threatens t

The Republic of Cyprus registered a double vote of confidence in the resilience of its economy this week, as both Moody’s and Fitch upheld the country’s investment-grade standing—while Fitch went a step further by shifting Cyprus’ outlook to “positive.” In a written statement, Finance Minister Makis Keravnos emphasized that these decisions reflect “the international houses' confidence in the government's fiscal performance and prudent economic policy.” In his official announc

The cryptocurrency market’s dramatic downturn accelerated on Wednesday, with Bitcoin sliding to a seven-month low and pushing total losses across digital assets beyond the $1 trillion mark. The world’s largest cryptocurrency dropped to $88,522, inflicting fresh pain on investors ranging from retail traders buying the dip to institutional digital asset firms whose valuations have been rapidly eroding. A modest rebound followed after Nvidia delivered strong earnings, easing

S&P Global Ratings shifted its outlook for the Cypriot economy to “positive” from “stable” late on Friday, pointing to a faster-than-anticipated improvement in the country’s external debt metrics. The agency confirmed the Republic of Cyprus’ credit score at “A-/A-2” for both long-term and short-term obligations, in domestic and foreign currency. According to S&P, the upgraded outlook reflects its expectation that Cyprus’ external position will exceed current forecasts ove

Cyprus ranked among the European Union member states where foreign-controlled companies accounted for the smallest share of employment and economic output in 2023, according to data published by Eurostat on Wednesday. Despite the significant overall impact of foreign-controlled enterprises across the EU, their presence in Cyprus remains comparatively limited. Based on figures that include both employees and self-employed individuals, foreign-controlled enterprises in Cyprus r

The Bank of Cyprus announced on Tuesday that it achieved a profit after tax of €353 million for the nine months ended September 30, 2025, maintaining stable profitability and reinforcing shareholder confidence amid continued economic resilience. “We are pleased to announce another set of strong financial results, generating in the first nine months of 2025 a profit after tax of €353m,” said Bank of Cyprus CEO Panicos Nicolaou. “This performance reflects the resilience of our

The National Bank of Greece (NBG) has announced that, following meetings of its Board of Directors held on September 18 and October 22, 2025, it will distribute an interim dividend to shareholders for the 2025 financial year, underscoring the bank’s robust profitability and commitment to enhanced shareholder returns. A total gross amount of €200 million will be distributed in cash, equivalent to €0.2186 per share. This figure will be adjusted to include shares held by the ban

The Cyprus Stock Exchange (CSE) has announced its intention to proceed with the delisting of European Medium-Term Notes (EMTN) after the securities reached maturity and were fully repaid. The decision, according to the CSE, follows an official request made by the Ministry of Finance. The notes in question are the European Medium-Term Notes with an expiry date in 2025, carrying an interest rate of 4.25 per cent and identified by the code EMTN1125. The exchange confirmed that t