Greece’s Eurobank is reportedly preparing a strategic roadmap to takeover Hellenic Bank, the island’s second-biggest lender, just months after increasing its stake to over 29%. Once it reaches the 30% benchmark, according to the law on acquisitions, Eurobank must make a public offer to take over Hellenic. According to sources close to the Greek bank,
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By Naeem Aslam With inflation running at the highest level among G7 nations, the Bank of England has no easy task on its hands. The UK central bank’s decision to hike interest rates by 25bp, as expected to 5.25%, should not come as a surprise at all, and we believe that there are higher chances
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Jordan is interested in collaborating with Cyprus to establish electricity connectivity with the European Union, said Energy Minister George Papanastasiou. It was discussed on the sidelines of the official visit of President Nikos Christodoulides to Jordan. Papanastasiou engaged in talks with his Jordanian counterparts, exploring ways to strengthen cooperation between the two nations in various areas,
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A massive wildfire that erupted in the mountains near Limassol on Wednesday, has been partly brought under control after an all-night battle with the flames, said the Fire Department. So far, the fire has burnt through 1.5 square kilometre of wild vegetation, an area between the villages of Agios Mama, Kalo Chorio, Pelendri and Kato
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The seasonally adjusted unemployment rate in Cyprus dropped in June from 2022 while remaining stable compared to May, according to Eurostat. Unemployment in Cyprus stood at 4.8% in June, remaining stable since May, but having dropped compared to June 2022, when it was 7.3%. In absolute numbers, there were 23,000 unemployed in Cyprus in June,
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Electricity trade can contribute substantially to the cost-optimal achievement of greenhouse gas emission abatement targets and lead the Eastern Mediterranean & Middle East (EMME) region to net zero carbon emissions by the mid-21st century, a study shows. The Cyprus Institute (CyI) said its researchers have worked on energy and climate policy analyses for the EMME region
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By Edward Moya US stocks are getting hit with a one-two punch on the Fitch US sovereign downgrade overnight and expectations the US Treasury will continue to boost the size of their debt sales. Earnings are still coming mostly better than expected, but the major indexes don’t seem to have anything left in the tank
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Cyprus is among those EU countries with the lowest percentage of people unable to afford an internet connection, according to Eurostat. In 2022, 0.5% of the population in Cyprus could not afford an internet connection, while the corresponding share among people at risk of poverty was slightly higher but still among the lowest in Europe, at
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Pure new credit (excluding renegotiated loan facilities) rose by an annual 1.26% in the first six months, with rate hikes by the European Central Bank affecting mortgages which marked a reduction of over 29%. According to the Central Bank of Cyprus (CBC), new credit provided by Cypriot banks dropped significantly in June to €240 mln
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The Cyprus issue, the Middle East peace process, bilateral relations and regional developments were discussed by President Nikos Christodoulides Wednesday with the President of Palestine, Mahmoud Abbas. A statement by the Presidency said that Christodoulides and the members of the Cypriot delegation travelled to Ramallah from Amman aboard helicopters provided by the Jordanian Armed Forces.
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