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1. Vaccinations 'main economic tool' in managing Covid crisis

Vaccinations have turned into the main economic tool for the management of the coronavirus crisis and the prospects for recovery, Minister of Finance Constantinos Petrides said, stating that he foresees a strong recovery in 2021 ranging from 3.5% to 4.5% of GDP, depending on the development of the pandemic....

2. Property valuations and uncertainty clauses

Property appraisers in this country have had to deal with unprecedented events in the last seven to eight years that forced them to make use of the so-called 'uncertainty clauses' in their real estate estimates...

3. House Speaker says Parliament must 'raise its standards'

House Speaker Adamos Adamou said that Parliament has an obligation to raise its standards and improve its image to the public, who are turning away from politics and politicians and especially Parliament....

4. Minister grilled over digital ID bill

Recent discussion on electronic signatures has reintroduced persistent challenges in the digital ID debate, with Cyprus’ innovation minister facing tough questions this week during a House committee hearing...

5. Paphos court rules stabbing was self defence

A defendant who visited Cyprus last year and ended up in jail for seven months after stabbing another man, walked free this week after prosecutors failed to prove beyond reasonable doubt that he had murderous intent, with judges ruling self-defence was justifiable...

6. Anastasiades takes the stand in passports probe

Cyprus’ citizenship by investment scheme will not be revived but other incentives will be given to attract investments, excluding citizenship, President Nicos Anastasiades said on Tuesday, following a 3-hour-long testimony before the investigative committee probing Cyprus’ nixed citizenship-by-investment scheme....

7. MPs approve publication of PEP bad loans list

Parliament on Thursday approved the publication of the list of politically exposed persons (PEP) with non-performing loans, known as the Yiorkadji list....

8. Policy priorities unaffected by pandemic, FinMin says

Despite the crisis of the Covid-19 pandemic Cyprus’ economic policies remain the same, targeting macroeconomic and financial stability, prudent fiscal policies, and establishing a competitive, business-friendly regulatory environment of high standards, Minister of Finance Constantinos Petrides said on Thursday....

9. Industrial/Logistics most attractive post COVID-19

Following the breakout of the COVID-19 pandemic, the Industrial/Logistics asset class has presently become the most attractive financing option for a majority of banks in Central & Eastern Europe, according to the results from the latest edition of KPMG’s Property Lending Barometer...

10. State budget battles rage on in Cyprus

Ruling party DYSI has been mounting a campaign over the last 24 hours to secure votes to pass the state budget, which is up in the air over golden passport probe wars, with added pressure also causing rifts even within smaller parties...

11. FinMin confirms Cyprus won’t reinstate ‘golden passports’ scheme

Finance minister Constantinos Petrides assured that the government will not be reinstating the Cyprus Investment Program (CIP), that was shut down after the shocking corruption revelations that emerged through an Al Jazeera investigation and the subsequent stark criticism by the European Commission. ...

12. Cat-and-mouse game with Turkey must stop, Michel says

A game of “cat-and-mouse” between the European Union and Turkey needs to come to an end, European Council President Charles Michel said on Friday, in reference to a dispute over natural gas resources in the Eastern Mediterranean....

13. Cyprus experiencing excessive macroeconomic imbalances

The European Commission said Wednesday that Cyprus continues to face excessive macroeconomic imbalances, particularly in view of the country’s very high percentage of non-performing loans that continue to plague the financial sector, but also in light of high private sector, government, and external debt....

14. Support schemes added to fight lockdown consequences

Alongside the tough restriction measures that came into effect on Thursday, additional support schemes were announced by the ministers of finance and labour in a bid to cushion the inevitable economic blow....

15. Fresh total lockdown out of the question for Cyprus govt

Finance minister Constantinos Petrides on Monday strongly refuted the possibility of Cyprus entering a second lockdown, such as the one it was plummeted into in March as a result of the outbreak of coronavirus....

16. Man stabs compatriot over loaned money

A man has been arrested in Paphos in connection with a knife attack, with reports saying he stabbed his compatriot who owed him money after he felt insulted...

17. Banks must prepare for a new cycle of NPLs due to Covid-19

Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) told Cyprus commercial banks to prepare to face a new cycle of non-performing loans in 2021 due to the coronavirus pandemic....

18. KPMG Property Lending Barometer 2020

19. Nigerian students say north is safe

Following danger warnings and criticism against Turkish Cypriot colleges, Nigerian student representatives in the north have refuted reports of mysterious and unsolved killings of fellow countrymen on the island...

20. Apollo CEO investigated over Epstein ties

The CEO of Apollo Global Management, whose affiliates acquired billions of bad debt in Cyprus, is being investigated over alleged financial ties to Jeffrey Epstein...

21. 22.3% of Cyprus population at risk of poverty in 2019

The most recent European Statistics on Income and Living Conditions (EU-SILC) 2019 survey shows that 22.3% of the Cyprus population, that is 194,400 persons, are living in households that are at risk of poverty or social exclusion....

22. Male Cypriots urged to negotiate postponement of higher fees with UK universities

Male Cyprus high school graduates considering going on to a UK university but who must first complete a 14-month military service, by which time the UK is set to enforce its decision to scrap home fee status for EU students, are urged to directly contact their university of interest to negotiate a postponement of the fee increase, allowing them to enrol next under current fee status....

23. Cyprus to draw over €2.7b from EU pandemic recovery fund

European Union leaders reached a deal on a massive stimulus plan for their coronavirus-blighted economies at a pre-dawn meeting on Tuesday after a fractious summit that went through the night and into its fifth day....

24. EU summit breaks up after all-night talks, to resume later

A marathon European Union summit has broken up temporarily in the fourth day of acrimonious haggling over an unprecedented 1.85 trillion-euro ($2.1 trillion) EU budget and coronavirus recovery fund to tackle the crisis. The weary leaders were scheduled to resume the meeting Monday afternoon....

25. 522 Cyprus army recruits planning to study at UK universities

A total of 522 incoming army recruits have informed the Education Ministry that they are either candidates for or have secured a spot at a UK university for the 2020-21 academic year, but who plan to defer their offer until the following year, when home fee status and loans for EU students will be scrapped, due to their 14-month military service requirement....

26. LNG terminal project marks new era for Cyprus

The infrastructure for the introduction of liquefied natural gas for electricity generation places Cyprus on track for a new energy era, opening new strong prospects for the island’s economy, President of the Republic Nicos Anastasiades said on Thursday...

27. Moody's: Payment holidays shield Cyprus banks in 2020, but deterioration likely in 2021

Around one third of Cyprus banks’ gross loans were deferred as a result of the coronavirus pandemic, the Moody’s rating agency said Monday, noting that while the payment holiday may shield local banks in 2020, asset quality deterioration is “still very likely next year.”...

28. Govt mulling over state guarantee scheme for Cyprus students in UK

Cyprus Ministers and MPs put their heads together on Wednesday to find ways of dealing with the UK’s decision to end home fee status for EU students from the 2021-22 academic year....

29. All set for implementation of new support measures, FinMin says

Finance minister Constantinos Petrides announced the launch of the implementation of three measures, under the government support program, to address the consequences of the coronavirus pandemic....

30. Nicosia midtown center in the works

A new modern business centre on the most popular main street in Nicosia is said to be in the pipeline, following reports that the Bank of Cyprus has sold a parking lot in the midtown area...