Breaking news

Corporate Social Responsibility Leaders and Cyprus Accounting Authorities Unite for Educational Beach Cleanup

Overview

The Corporate Social Responsibility Committee, in collaboration with the Coordinating Committee of Limassol-Paphos of the Association of Approved Auditors in Cyprus, is proud to announce an Educational Beach Cleanup. This initiative, organized in conjunction with the Limassol Provincial Administration, the Pentakomo Community Council, the Cyprus Lifesaving Federation, and Let’s Do It Cyprus, marks the celebration of the Global Clean-Up Day.

Event Details

Participants are invited to join the effort at one of Cyprus’ most picturesque beaches. The event is designed not only to enhance environmental stewardship but also to inspire youth by engaging families in community-driven sustainability initiatives.

Date: Sunday, September 28, 2025
Location: Governor’s Beach, Limassol
Meeting Point: Faros-Angelos, Akte Tou Kyverniti (Griva Digenei 5, Akte Kyverniti 4528, Pentakomo, Limassol)
Time: 10:00 AM to 12:55 PM

Seminars and Certification

The initiative will feature an interactive seminar highlighting the achievement of the 17 Sustainable Development Goals, alongside a first aid and beach safety seminar conducted by lifesavers and certified trainers. Furthermore, a practical workshop on proper waste recycling and separation will be offered. Participants, including both adults and children, will receive a Certificate of Achievement (CPD 3 unverifiable units) recognizing their contributions.

Additional Offerings

To ensure a well-rounded event, optional activities such as dance and exercise sessions will be available. Organizers will provide essential supplies including gloves, bags for rubbish and recycling, as well as refreshments comprising water, juices, pizza, sandwiches, and fruit.

Registration and Contact Information

Registration is free. Interested individuals are encouraged to sign up through the provided link to the Cyprus Approved Auditors Association seminars page. For further inquiries or clarifications, please contact 22870030.

ECB Raises Deposit Facility Rate For First Time In Nearly Two Years

Economic Shift: ECB Reverses Years Of Declining Rates

The European Central Bank (ECB) confirmed its first interest rate increase in nearly two years, raising the deposit facility rate in response to inflationary pressures and geopolitical uncertainty. Marking a shift in monetary policy, the move follows a period of rate cuts aimed at supporting economic activity and easing financing conditions.

Reevaluation Of Bank Liquidity Strategies

Although the immediate impact will be felt by only part of the borrowing market, the decision carries broader implications for banks. During the period of lower rates, banks maintained significant amounts of excess liquidity with the ECB as returns on these funds declined alongside deposit rates. With the deposit facility rate increasing by 0.25 percentage points to 2.25% from 2.00%, returns on surplus liquidity are expected to improve.

Higher interest rates, however, could also increase borrowing costs and influence lending conditions across the banking sector.

Transitioning Investment Approaches And Market Dynamics

Banks had already begun diversifying the use of excess liquidity through investments in bonds and by expanding lending activities.

Successive reductions in the deposit facility rate from 3.00% at the end of 2024 through four consecutive cuts in early 2025 reflected a more accommodative policy stance as inflation pressures moderated.

Sectoral Impact And Future Outlook

Data from the ECB’s 2025 monetary policy report show that liquidity in the Cypriot banking system declined from €19.2 billion at the end of 2024 to €18.6 billion by the close of 2025. Despite the reduction, liquidity levels remained elevated. Outstanding loans increased from €27.6 billion to €31.7 billion, while deposits recorded a slight decline. Customer deposits continued to account for the vast majority of funding. By the fourth quarter of 2025, they represented 95% of total liabilities, highlighting their importance as the banking sector’s primary source of financing.

Changes in ECB rates are expected to influence how banks manage liquidity and allocate capital as monetary conditions evolve.

eCredo
Uol
Aretilaw firm
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter