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Deposit And Lending Rates Decline In Cyprus: November Report Highlights

The Central Bank of Cyprus (CBC) has released its latest statistics for November, showing a general decline in both deposit and lending rates, with the notable exception of large corporate loans exceeding €1 million. The report also highlights a surge in new loan activity across various categories, indicating a dynamic shift in the financial landscape of Cyprus.

Deposit Rates See Moderate Declines

Interest rates on deposits for both households and non-financial corporations recorded slight decreases in November:

  • Households: The interest rate for deposits with a maturity of up to one year fell to 1.70%, compared to 1.76% in October.
  • Non-Financial Corporations: Corporate deposit rates also declined, dropping to 1.99%, down from 2.19% in the previous month.

Lending Rates: A Mixed Picture

While most lending rates decreased in November, large corporate loans above €1 million experienced a rise:

  • Consumer Loans: Rates dropped significantly to 6.99%, a notable decline from 8% in October.
  • House Purchase Loans: The interest rate for home loans decreased to 4.50%, compared to 4.62% in the previous month.
  • Corporate Loans:
    • Loans to non-financial corporations for amounts up to €1 million saw a decline to 5.01%, down from 5.45% in October.
    • In contrast, loans exceeding €1 million recorded an increase in rates to 4.97%, up from 4.72%.

New Loan Activity Surges

November saw a significant rise in the total volume of new loans, which increased to €635.7 million, compared to €533.8 million in October.

  • Consumer Loans:
    New consumer loans rose to €25.3 million, of which €22.3 million were classified as pure new loans. This marks an increase from €21.3 million (including €20.2 million pure loans) in October.
  • House Purchase Loans:
    Home loans increased to €129.5 million, with €98.5 million in pure new loans, compared to €115.7 million and €96.1 million, respectively, in October.
  • Corporate Loans:
    • Loans for amounts up to €1 million rose to €73.5 million, including €57.8 million in pure new loans, up from €57.3 million and €41.8 million, respectively, in October.
    • Loans exceeding €1 million also grew significantly to €398.2 million, although pure new loans in this category decreased to €154.5 million, down from €201.8 million in October.

Implications For Cyprus’ Financial Sector

The combination of falling interest rates and increased loan activity reflects evolving financial trends in Cyprus. The lower borrowing costs appear to be encouraging higher loan uptake across sectors, particularly in consumer and housing markets. However, the increase in rates for large corporate loans suggests a nuanced approach by financial institutions in addressing varying market needs.

As businesses and households continue to adapt to changing economic conditions, these trends will be crucial in shaping the trajectory of Cyprus’ financial landscape heading into 2025.

Cloudflare Sets New Default To Separate Search Crawlers From AI Bots

Cloudflare has drawn a sharper line between traditional search and artificial intelligence.

Beginning September 15, 2026, the company will change its default settings to block so-called mixed-use crawlers from pages that run ads, unless a site owner chooses otherwise. The policy applies to new Cloudflare customers, new sites created by existing customers, and all current free customers.

A Clearer Divide In Web Access

The shift could materially reshape how AI companies collect web data for model training and agentic products. Cloudflare’s central argument is straightforward: most publishers want their content to remain visible in search and accessible through certain AI services, but they do not want that same material repurposed without compensation.

In Cloudflare’s view, the problem is not crawling itself. It is the blending of three different functions: search, agentic use, and training into a single bot that makes it difficult for website owners to set meaningful boundaries.

The Google Question

Cloudflare pointedly referenced the “world’s largest search engine,” an unmistakable nod to Google, arguing that it has access to roughly twice as much information as rival AI companies because it makes it harder for customers to stay discoverable without also being used for AI.

Google has disputed that framing. The company offers Google Extended, a crawler setting that lets publishers opt out of having content used for training and AI products such as Gemini apps and Vertex AI, without affecting visibility in Google Search. At the same time, Googlebot still crawls for Search and for AI-powered features such as AI Overviews and AI Mode.

Publishers Want Reach, Not Exploitation

Matthew Prince, Cloudflare’s co-founder and chief executive, said the company is moving quickly because the internet is now dominated by machine traffic.

“Now that the majority of traffic on the Internet is non-human, we must go further and act faster so that a sustainable ecosystem can emerge,” Prince said, referring to the recent milestone in which bots surpassed human traffic online sooner than expected.

Prince added that Cloudflare’s tools and partnerships are designed to give publishers more visibility and commercial leverage, while also rewarding AI companies that are transparent about how they use content.

From Pay Per Crawl To Pay Per Use

Cloudflare has increasingly positioned itself as a gatekeeper for publishers looking to assert control in the AI era. The company already offers tools to block AI bots, along with a marketplace called Pay Per Crawl, which lets websites charge AI systems for scraping.

That framework is now expanding into Pay Per Use, which Cloudflare says will allow publishers to charge AI companies when content creates value, not merely when it is fetched. In practical terms, that shifts the economics from extraction to monetization.

Cloudflare says the move may also reduce waste. Its data suggests more than half of crawl traffic from AI bots is spent revisiting pages that have not changed, consuming bandwidth and compute without adding fresh value for either side.

Early Partners Signal The Commercial Model

To launch the new system, Cloudflare is working with Ceramic.ai and You.com. Under the opt-in model, publishers can be paid when their content appears in Ceramic’s AI search results or when You.com accesses premium material.

Cloudflare says other AI companies can adapt the model to fit their own products. The broader message is clear: the era of unrestricted crawling is giving way to one in which access, attribution, and compensation are increasingly negotiated rather than assumed.

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