Cyprus has had its own share of the impact from the high interest rate regime dominating the markets, with the two main local banks this week reporting near-record profits for last year.
An article was published on 24 January which said, “Cypriot banks severed business ties with nearly 60,000 customers – mostly Russian and Ukrainian nationals – between 2014 and 2022, while some 126,000
The Cyprus real estate market remains robust, as it witnessed a remarkable surge in housing prices in the third quarter of 2023, driven by demand from both domestic and international buyers. According
Cyprus’ GDP growth rate for 2023 will be 2.4% and annual inflation is anticipated to reach 3.9%, with the island’s economy displaying resilience under pressure from hiking interest rates and uncertainty caused
Demand for housing loans dropped by almost 40% in the first quarter of the year, as Cypriot households are put off by rising interest rates, according to the Central Bank of Cyprus.
Revenue from Cyprus’ ship management industry continued its upward trend in the second half of 2022, reaching €648 mln, up by 25.6% year on year. Throughout 2022, revenue from ship management amounted to
The Central Bank of Cyprus (CBC) has marginally pushed up its projections for GDP growth this year citing the slightly improved prospects in the external economic environment and the anticipated lower energy
The Cyprus banking system won’t be feeling any aftershocks from the collapse of major banks in the United States and the trouble faced by European banking giant Credit Suisse, assured the island’s
As the European Central Bank decides to push up interest rates by another 50 basis point Cypriot banks are prepping to push up interest rates on deposits, acknowledging the increase in interest
The President of the European Central Bank (ECB) Christine Lagarde, during her visit to the island on Wednesday, appeared confident that Cyprus would recover from the setbacks of the coronavirus pandemic and