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finance real estate

Cyprus Business Now: Weekly Wrap-Up

The Cyprus Stock Exchange (CSE) has introduced European MediumTerm Notes (EMTNs) to increase market liquidity and diversity, aligning with strategies to strengthen its role in the European financial landscape. Meanwhile, the real estate sector in Cyprus faces challenges with a downturn in transactions, influenced by inflation and rising interest rates.

finance stock exchange

Cyprus Business Now: Economic Optimism and Market Developments

Cyprus is on the path to economic recovery, with the IMF projecting a decrease in public debt ratio to 70.7% this year and aiming to reach the 60% mark by 2026. The tourism sector is flourishing, with a 9.8% increase in arrivals, while the Cyprus Stock Exchange reflects investor confidence and economic vigor with its recent growth.

finance leadership

Christodoulos Patsalides Takes Helm as Central Bank Governor

Christodoulos Patsalides has been sworn in as the new Central Bank governor of Cyprus, pledging to uphold financial stability, implement reforms, and drive sustainable economic growth. His leadership signifies a new era for Cyprus’ financial oversight, promising a future marked by competitiveness and social cohesion.

finance sustainable growth

Keravnos Targets Enrichment of Economic Model

Finance Minister Makis Keravnos is dedicated to enhancing Cyprus’s economic model through sustainable growth and increased investments, with a focus on sectors like agriculture and tourism. He aims to create synergies across sectors, implement reforms, and transition towards a green and digital economy, projecting stable inflation rates and reduced public debt by 2026.

business finance

Cyprus Business Now

The Cyprus government is expanding its mortgagetorent scheme to help struggling homeowners facing pressure from credit companies and banks. This initiative aims to reduce nonperforming loans and is open for applications from December 2023 to August 2024.

finance government

Kedipes Makes Historic Contribution to State Coffers

Kedipes, a stateowned asset management company, transferred a recordbreaking €140 million to the state’s reserves, marking the largest quarterly government contribution since its establishment in 2018. This significant payment, resulting from the sale of loan portfolios to the Bank of Cyprus, showcases Kedipes’ dedication to reducing public debt and promoting economic stability in Cyprus.

tourism finance

Hellenic Bank: Progress Vital for a Competitive Tourism Industry

Hellenic Bank is a key player in Cyprus’ tourism industry, allocating over 10% of its loans to support innovation and sustainability in the sector. Through collaborations with entrepreneurs and stakeholders, they aim to create a competitive and resilient tourism model for the future, as discussed at the recent annual tourism conference.

finance financial literacy

President helps CBC to promote financial literacy [video]

In a bid to boost financial literacy, the Central Bank of Cyprus (CBC) has rolled out a series of educational videos, backed by President Nikos Christodoulides and CBC Governor Constantinos Herodotou. These videos aim to educate citizens, especially the youth, on making informed financial decisions to secure their economic futures, aligning with the theme of Global Money Week 2024 “Protect Your Money, Secure Your Future.”

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