Cash is losing its dominance in Cyprus, mirroring a wider trend in the European Union, where the majority of consumers now prefer using digital payment methods, according to the Central Bank of
Interest rates, geopolitics and technology, will drive a new normal in 2024 global credit conditions. Central banks will keep rates higher for longer to keep a lid on core inflation, which will
Cyprus and Egypt currently face the most immediate credit risks than other countries rated by Scope Ratings due to the Israel-Hamas conflict, said the German credit rating agency. In its report ‘Hamas attacks
Cyprus has hailed a two-notch upgrade by credit ratings agency Moody’s to bring the country back into investment-grade territory a decade after a financial crisis left the island on the brink of
Fitch Ratings said the credit profiles of Greek and Cypriot banks have significantly improved over the past year due to de-risking and restructuring. The rating agency has taken positive rating actions on
Despite pressures on the world and local economy, Cypriot banks’ capital adequacy is above the EU average, according to the latest data from the European Central Bank. The combination of reduced provisions
International rating agency, Fitch, affirmed Cyprus’ Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB’ assigning a Stable Outlook, assuming that fiscal surpluses continue despite an economic slowdown. Furthermore, the agency revised upward
Credit rating agencies are keeping an eye on Cyprus’ presidential elections in February to conclude how the island’s new administration will be running public finances, say economists. Rating agencies will launch a
Credit Rating Agencies have given a vote of confidence in the prospects and future developments in the Cyprus economy, Finance Minister Constantinos Petrides said. Petrides told the 1st Annual Financial Markets Forum
Rating agency Standard and Poor’s has upgraded Cyprus’ long-term credit rating by one notch to BBB from BBB- assigning a stable outlook, citing the economy’s resilience to external shocks. “The upgrade reflects
