S&P: Cost-cuts key for Cypriot banks

Cypriot bank’s ability to reduce operating costs while investing in digital transformation will be key to offsetting inflationary pressure and still-high credit provisions, rating agency Standard and Poor’s said. In a country-by-country

Crypto startups raised $2.1 bln YTD

After raising more than $20 bln in funding rounds in 2021 and 2022, crypto startups find it difficult to get fresh capital these days. Although the entire market significantly recovered from the

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Digital tracker for offending motorists

Cyprus police are preparing a digital application-linked data platform containing the details of drivers caught breaking traffic rules by speed cameras to track down offenders. In comments to the Financial Mirror, the

New asylum claims drop 33% but still high

The number of first-time asylum applicants in August dropped 33% in Cyprus, but despite the drop, Cyprus still had the highest ratio of asylum applicants per population. Meanwhile, according to monthly asylum

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Cyprus confident of ending Chevron row

Nicosia is confident that a dispute with US energy giant Chevron over the commercial exploitation of Aphrodite’s untapped natural gas could still end with an agreement despite continuous extensions to – so

Hellenic Bank posts 9M €240.7 mln profit

Hellenic Bank announced on Tuesday a net profit of €240.7 million for the first 9 months of 2023. According to a Hellenic Group statement, this profit was mainly driven by the higher interest