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1. EU unveils stricter fiscal rules for member states

The European Commission has introduced new fiscal rules aimed at promoting growth and financial discipline among member states. The framework, ...

2. Cyprus grapples with lingering private debt woes

In Cyprus, the European Commission consistently highlights the significant economic challenge of private debt through regular post-program or post-memorandum reports....

3. Wolfgang Schäuble, former German Finance Minister, dies at 81

Wolfgang Schäuble, the influential former German Finance Minister and speaker of the Bundestag, passed away at 81, leaving a profound mark on European financial affairs....

4. Cyprus gets BBB+ boost in latest ratings, but challenges persist

The German Scope Ratings have given a positive sign for Cyprus by upgrading the country to BBB+ last Friday from the previous BBB while keeping the outlook of the economy stable. ...

5. Piki shares the government's tech-powered 6-year plan

The government is ramping up the execution of a series of projects, bolstering resources and expertise in collaboration with the Deputy Ministry of Research, Innovation, and Digital Policy, according to Irene Piki, Deputy Minister to the president....

6. New Deputy Gov't spokesman embraces role's demands, including long hours

Yiannis Antoniou, the newly appointed deputy government spokesman, assured that there would be no question of overtime in his role, recognizing the demanding hours the position entails....

7. Government cuts interest income rates from 30% to 17%

The Cyprus government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said on Wednesday, noting that banks should follow suit in boosting income for depositors. ...

8. Government extends zero VAT on essentials

The government has decided to extend the application of the zero VAT rate on essential goods for another six months, with Finance Minister Makis Keraynos announcing the addition of coffee and sugar to the list of exempted products....

9. President Christodoulides unveils government's 100-Day report card

During a press conference held today, President Christodoulides provided insights into the state of the government after his first 100 days in office and responded to various questions from journalists....

10. FinMin underlines the importance of disciplined policy

The contact circle with the banks has not been completed, and there will be a new one to adopt measures that will provide relief to borrowers regarding the increased interest rates....

11. 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. ...

12. Christodoulides: Shift allowances and overtime compensation from 2024

President Nikos Christodoulides addressed the 60th Congress of PASYDY, the Civil Servants' Trade Union, where he discussed significant developments regarding the restoration of shift allowances and overtime compensation for civil servants....

13. Cyprus and Netherlands seal double taxation deal

Cyprus' Minister of Finance, Makis Keravnos, expressed his satisfaction for the conclusion of negotiations on a double taxation avoidance agreement with the Netherlands in a meeting Thursday with the Ambassador of the Netherlands in Cyprus, Elke Merks-Schaapveld, according to a press release by the Ministry of Finance....

14. Labor Minister proposes compromise on CoLA issue

Labour Minister Yiannis Panagiotou presented a mediation proposal on the CoLA issue to trade unions and employers' organizations on Friday morning (28/04)....

15. Keravnos urges banks to restructure loans and keep rates low

Cyprus Finance Minister Makis Keravnos has urged banks to restructure loans, maintain low lending rates and bank charges, and increase deposit rates in light of continued basic rate hikes by Central Banks. He warned that otherwise the government "would make different thoughts."...

16. Minister of Labor in the hot seat on COLA issue

The President of the Republic's directive to the new members of the government that there is no time to waste and that the government should ramp up the initiation of its projects effectively overrides some ministries where pending issues are pressing. ...

17. Cypriot president weighs in with ciphered message

Cypriot outgoing president and Democratic Rally honorary president Nicos Anastasiades called on Friday for an end to the disputes between high-ranking party officials to allow DISY members to exercise their free vote during the presidential runoff election this coming Sunday, noting that he will not state his preferred candidate...

18. Christodoulides certain he will be the next president of Cyprus

Presidential candidate, Nikos Christodoulides, has expressed certainty that he will be the winner of the elections, noting that he will seek to have meetings with Cyprus President, Nicos Anastasiades, and Democratic Party leader, Averof Neofytou, in view of the second round of the presidential elections that will take place on February 12....

19. Liz Truss resigns

Liz Truss was on Thursday forced to quit as UK prime minister, drawing to a dramatic close 44 days in office which saw her preside over an economic meltdown and catastrophic damage to the ruling Conservative party....

20. Finance Minister calls for prudency to safeguard economy

Cypriot Minister of Finance Constantinos Petrides, stressed on Wednesday evening the need to be “even more careful” with the fiscal discipline in the new challenging era, while Central Bank Governor Constantinos Herodotou referred to the risk of new NPLs due to the challenging economic conditions....

21. ECB tells Cyprus lawmakers to get it right

Elizabeth McCaul, Member of the Supervisory Board of the ECB, advised caution over possible amendments to the Cyprus foreclosure law stressing that 'such policies can also backfire and destabilize the banking sector if designed in a haphazard manner'...

22. Cyprus enjoys strong growth prospects but contingent liabilities remain

Strong growth prospects and sustained fiscal discipline places Cyprus on a firm declining path but contingent liabilities, healthcare and public sector wage-related costs, as well as weaker external conditions, pose risks to the fiscal outlook, Scope rating agency said in commentary on Cyprus....

23. Scope rates Cyprus with BBB-

Scope Ratings affirmed last week the Republic of Cyprus’ BBB- long-term issuer and senior unsecured local- and foreign-currency ratings, along with a short-term issuer rating of S-2 in both local and foreign currency, noting that all outlooks are stable...

24. IMF: Cyprus economic recovery gradually decelerating but remains strong

25. Finance Minister: To avoid trouble, don't defy economic logic

26. IMF: The Cypriot economy continues its rapid recovery from the 2012–13 financial crisis

27. Global jitters hit Greek bonds

Just days before Greece is to emerge from its international bailouts, upheaval in international markets took a toll on Greek bonds on Thursday, driving yields up above 4 percent....