Seldom in the financial industry do markets run out of bad apples. Despite measures taken in the past, the current leadership of CySEC, the country’s top securities watchdog, is determined to take tougher
Cyprus banks deny accusations that despite excess liquidity of €21.7 bln, they are hesitant to redirect the cash flow back into the capital-starved economy through lending to new and existing businesses. Banks
Total new bank loans in Cyprus increased by 22.2% in 2021 compared to the previous year, coming close to the levels of pre-coronavirus 2019, with deposits also taking off. According to the
Owners of hospitality and nightclub venues are disappointed at the government’s hesitance to ease COVID-19 measures like a ban on dancing and rules on unvaccinated teenagers. From Friday, unvaccinated teenagers aged 12
Compared to the year before, Cyprus saw a reduction in its annual unemployment rate, dropping to 6.4% in 2021, falling below the eurozone average of 7%. The country’s unemployment rate remained unchanged
The Cyprus Securities and Exchange Commission will bolster its supervisory framework with new technology to keep check of developments in the market, CySEC Chair George Theocharides said. “The pandemic has acted as
Cyprus has the EU’s highest stock of non-performing loans (assets) of the general government, according to Eurostat data. The share of non-performing loans over the country’s GDP stood at 28.3% in 2020,
Cyprus will get another source of liquidity from its Euro Medium-Term Notes (EMTN) being dual-listed on the Swiss Exchange, SIX and the Nicosia bourse. On Monday, the Ministry of Finance, the Cyprus
Labour productivity in Cyprus is below the EU average, ranked at the bottom end with Portugal and Greece, said the Economic and Competitiveness Council. Releasing its second competitiveness report, the Council notes
Cyprus’ high overall indebtedness continues to limit Cypriot banks’ growth potential and elevates economic vulnerability, a credit negative for banks, Moody’s argues. It follows reports that Cypriot banks had sold or transferred
