Search

1. New plan to safeguard vulnerable groups' homes nears approval

The Director of the Press Office of the President of the Republic, Victor Papadopoulos, announced that a new plan to safeguard the first homes of vulnerable groups in Cyprus is on the horizon. ...

2. Cyprus emerges as top beneficiary of EIB support in Europe

The European Investment Bank (EIB) President, Werner Hoyer, announced that Cyprus remains the largest beneficiary of EIB support per capita in Europe....

3. Why are food prices so high in Europe?

It is the most basic of staple food items: sliced white bread. In Britain, the average price of a loaf was 28 percent higher in April, at 1.39 pounds, or $1.72, than it was a year earlier....

4. An effective foreclosure framework is important, says FinMin

An effective and functional foreclosure framework is crucial for encouraging borrowers to restructure their debt, due to the high stock of non-performing loans (NPLs), the Cyprus Ministry of Finance said in a press release on Tuesday....

5. Luxury villas for sale by AstroBank

6. Cyprus sees decline in total deposits and loans

Total deposits in April 2023 recorded a net decrease of €173.3 million, compared with a net increase of €59.8 million in March 2023, the Central Bank of Cyprus said in a press release....

7. Divestments trigger a risk of backlash in the Recovery Fund

As Cyprus races against time to secure €1.1 billion in grants and loans from the Recovery Fund (NextGenerationEU) by June 2026, a new challenge arises. ...

8. US ambassador praises Cyprus on sanctions

US Ambassador Julie Fisher is dismissing claims that Washington is using arm-twisting tactics in Nicosia for sanctioning companies on the island, while pointing out Cypriot government statements are in line with the EU’s transatlantic consensus on Russia’s war in Ukraine...

9. EBA tightens its grip in response to sanctions

Following the uproar caused by the lists of sanctions issued by the US, UK, and European authorities, the European Banking Authority (EBA) is tightening its standards in response. ...

10. Building land for sale by AstroBank

AstroBank is selling building land in various areas of Cyprus such as Famagusta, Paphos, Nicosia....

11. Christodoulides to drill EU peace role into Berlin

Cypriot President Nikos Christodoulides travels to Berlin this week where he is expected to push once again for active EU involvement in peace talks on the divided island, a proposal so far rejected by Turkish Cypriots who call for cooperation between two states...

12. British-Cypriot forex boss found guilty of fraud

A jury in a London court has found a forex trader of Cypriot origin guilty of fraud....

13. Cyprus Cancer Research Institute: Scientific bridge between Europe and Cyprus

An important project for science and humanity was inaugurated on Monday, May 22, at the University of Cyprus campus, the "Nicola David – Pinedo Building" of the Cyprus Cancer Research Institute (CCRI), made possible thanks to the donation of Georgios and Kaiti David in memory of their daughter Nikola, who passed away in 2016 due to cancer....

14. President Christodoulides engages in crucial talks with German chancellor

President of the Republic Nikos Christoulides will hold talks on Thursday with German Chancellor Olaf Scholz in Berlin, during which they will discuss the Cyprus problem, the President's proposal for more active EU involvement in the Cyprus efforts and bilateral and international affairs....

15. CBC urges banks to embrace transformation for sustainablefuture

Constantinos Herodotou, Governor of the Central Bank of Cyprus, emphasized the need for Cypriot banks to seize the current favorable circumstances and address impending challenges during his speech at the 2023 ICPAC Mediterranean Finance Summit held in Limassol on Thursday....

16. Deutsche Bank agrees to $75M settlement in Epstein abuse lawsuit

Deutsche Bank AG has agreed to pay $75 million to settle a lawsuit by women who say they were abused by the late financier Jeffrey Epstein and accused the German bank of facilitating his sex trafficking....

17. Cyprus banks' strict adherence to sanctions worries legitimate entities

Banks have become cautious regarding sanctions imposed by the USA, EU, and UK, and they are not willing to take any risk in serving individuals or entities in Cyprus who are subject to sanctions....

18. Houses and building land for sale by AstroBank

AstroBank is selling houses and building land in various areas of Cyprus such as Nicosia, Famagusta, Paphos, and Larnaca....

19. Over 1.2 billion in Russian assets frozen in Cyprus

Some 1.2 billion euros ($1.3 billion) in Russian-owned assets managed by Cyprus-registered companies were frozen in compliance with sanctions imposed on Russia following its invasion of Ukraine, Cyprus’ Finance Ministry said Tuesday...

20. Cypriot economy maintains momentum but faces uncertainties

The Cypriot economy maintained a strong momentum in the first quarter of 2023 with real GDP registering an annual growth rate of 3.4%, marking however signs of a slowdown on the backdrop of the uncertain external environment and the restrictive monetary policy by the European Central Bank in a bid to place inflation under control....

21. BOC Chief urges sanctioned entities to seek exemptions themselves

The CEO of the Bank of Cyprus, Panicos Nicolaou, expressed the view that individuals and entities subject to sanctions should seek exemption from international authorities in order for banks to allow payments from frozen accounts to business entities....

22. BOC: First quarter of 2023 yields €95 million in profit

Bank of Cyprus has released its financial report for Q1 2023, showcasing robust performance and positive indicators across various key metrics....

23. Nicosia scrambles to ease sanctions burden

The Registrar of Companies will accept requests from service providers to replace sanctioned persons with other persons, according to reliable sources...

24. Rights violations raise concerns amid sanctions

The Pancyprian Bar Association has expressed growing concerns over the violation of fundamental rights of both individuals and legal entities affected by the recent restrictive measures and sanctions imposed on April 12, 2023....

25. Why do young people in Cyprus struggle to secure a home loan?

Young people are facing difficulties in securing mortgage loans due to a number of factors, according to economist Tasos Yasemidis....

26. Non-compliance with US sanctions bad says CBC Governor

No impact to financial stability has been recorded so far by the US and UK sanctions against Cypriot persons and entities for assisting Russian sanctioned nationals apart from Cyprus’ credibility, Governor of the Central Bank of Cyprus Constantinos Herodotou said on Wednesday, noting that non-compliance would pose 'very negative consequences to the economy'...

27. Whistleblower says Biden got Burisma money through Cyprus

A former White House stenographer has doubled down on allegations against US President Joe Biden and a VP trip to Cyprus in May 2014, with the whistleblower blatantly speculating that a kickback payment from Burisma came out of the island...

28. BOC appoints Bank of America as joint corporate broker, resumes dividend payments

The Bank of Cyprus has announced the appointment of Bank of America Europe DAC (BofA Securities) as a joint Corporate Broker, along with NUMIS Securities Limited (NUMIS) and Keefe, Bruyette & Woods (KBW, acting through Stifel Nicolaus Europe Limited), with immediate effect....

29. New sanctions list expected by the end of May

The episode with the sanctions imposed by the United States and Britain on natural and legal persons that include Cypriot names is expected to continue....

30. Building land and offices for sale by AstroBank

AstroBank is selling building land, houses, and office space in various areas of Cyprus such as Famagusta, Larnaca, Paphos, and Nicosia....