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Non-Performing Loans In Cyprus Banking System Drop To 6.5% In Q3 2024

by THEFUTURE.TEAM

January 15, 2025

The ratio of Non-Performing Loans (NPLs) in Cyprus’s banking sector fell to 6.5%, equivalent to €1.6 billion, at the end of September 2024, down from 6.9% (€1.7 billion) in June 2024, according to the Central Bank of Cyprus (CBC).

The coverage ratio for NPLs, reflecting provisions held against these loans, increased slightly to 55.7% (€0.9 billion) by the end of September, compared to 55% in June 2024.

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The CBC attributed the reduction in NPLs to several factors:

Loan repayments, including debt-to-asset swaps.
Successful restructurings, with loans reclassified as performing after probation periods.
Loan write-offs are often tied to previously provisioned amounts or accounting set-offs.

Key Highlights

Household NPLs: Declined to €900 million in September 2024 (from €916 million in August), representing 8.5% of total household loans. Total provisions for household NPLs accounted for 41% (€388 million) of the total.
Total Household Loans: Reached €10.57 billion.
Corporate NPLs: Dropped to €658 million in September (from €682 million in August), representing 5.5% of total corporate loans. Of these, €610 million related to small and medium-sized enterprises (SMEs), with provisions covering 75.5% of total corporate NPLs.
Restructured Loans: Totalled €1.3 billion at the end of Q3 2024, with €0.7 billion still classified as NPLs.

The steady decline in NPLs reflects ongoing efforts by Cypriot banks to manage credit risk and improve loan portfolio quality, supporting the overall stability of the financial system.

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Moonshot’s Kimi K2: A Disruptive, Open-Source AI Model Redefining Coding Efficiency

by THEFUTURE.TEAM

July 14, 2025

Innovative Approach to Open-Source AI

In a bold move that challenges established players like OpenAI and Anthropic, Alibaba-backed startup Moonshot has unveiled its latest generative artificial intelligence model, Kimi K2. Released on a late Friday evening, this model enters the competitive AI landscape with a focus on robust coding capabilities at a fraction of the cost, setting a new benchmark for efficiency and scalability.

Cost Efficiency and Market Disruption

Kimi K2 not only offers superior performance metrics — reportedly surpassing Anthropic’s Claude Opus 4 and OpenAI’s GPT-4.1 in coding tasks — but it also redefines pricing models in the industry. With fees as low as 15 cents per 1 million input tokens and $2.50 per 1 million output tokens, it stands in stark contrast to competitors who charge significantly more. This cost efficiency is expected to attract large-scale and budget-sensitive deployments, enhancing its appeal across diverse client segments.

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Benchmarking Against Industry Leaders

Moonshot’s announcement on platforms such as GitHub and X emphasizes not only the competitive performance of Kimi K2 but also its commitment to the open-source model—rare among U.S. tech giants except for select initiatives by Meta and Google. Renowned analyst Wei Sun from Counterpoint highlighted its global competitiveness and open-source allure, noting that its lower token costs make it an attractive option for enterprises seeking both high performance and scalability.

Industry Implications and the Broader AI Landscape

The introduction of Kimi K2 comes at a time when Chinese alternatives in the global AI arena are garnering increased investor interest. With established players like ByteDance, Tencent, and Baidu continually innovating, Moonshot’s move underscores a significant shift in AI development—a focus on cost reduction paired with open accessibility. Moreover, as U.S. companies grapple with resource allocation and the safe deployment of open-source models, Kimi K2’s arrival signals a competitive pivot that may influence future industry standards.

Future Prospects Amidst Global AI Competition

While early feedback on Kimi K2 has been largely positive, with praise from industry insiders and tech startups alike, challenges such as model hallucinations remain a known issue in generative AI. However, the model’s robust coding capability and cost structure continue to drive industry optimism. As the market evolves, the competitive dynamics between new entrants like Moonshot and established giants like OpenAI, along with emerging competitors on both sides of the Pacific, promise to shape the future trajectory of AI innovation on a global scale.