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1. 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'...

2. Family businesses in Europe fared better in response to COVID-19

For businesses of all types, the first impact on the pandemic was felt on revenues. 64% of European family businesses reported initial revenue losses compared to 69% of family businesses globally, 25% managed to maintain their revenue levels, and 11% experienced increases...

3. Cyprus hurries to clean up company registry

Energy Minister Natasa Pilides has called on business stakeholders in Cyprus to embrace a new effort of recording and updating true information about beneficiaries of companies, saying a new digital registry that can bolster transparency on the island...

4. IMF: Withdrawal of support measures should be gradual

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities from March 8–29, 2021 to discuss recent economic developments and policy priorities on the island. In an interview with Kathimerini Cyprus, IMF mission chief for Cyprus, Anita Tuladhar, said the longer the recovery period in sectors related to tourism, the greater the chance that permanent scars will remain in the economy of Cyprus. Tuladhar also noted the importance of state-sponsored programs to support the economy....

5. Reported House website hack was false alarm

The website of the House of Representatives in the Republic of Cyprus suffered a technical glitch on Monday, the innovation commissioner says, following reports in Greek Cypriot media that a foreign hacker had targeted the website...

6. Turkish hacker targets Cyprus Parliament website

The Cyprus Parliament’s website was on Monday facing attacks by a Turkish hacker, an announcement by the House of Representatives said....

7. Cabinet approves €250m supplementary pandemic budget

The Cabinet on Wednesday approved a supplementary budget of €250 million to cover needs arising from the handling of the pandemic. ...

8. Govt meets extension of restrictions with new support measures

Cyprus Ministers of Finance, Constantinos Petrides and Labour, Welfare and Social Insurance, Zeta Emilianidou announced Friday an economic support package to the tune of €70 million for businesses and employees in an attempt to counterbalance the extension of restriction measures....

9. Health Minister consults experts before Friday's measures announcement

The Health Minister consulted the government’s health advisory committee on Thursday for an evaluation of the island’s coronavirus situation before the Cabinet is set to take final decisions on Friday on whether we’ll be moving forwards or backwards....

10. 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....

11. 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...

12. 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....

13. 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...

14. 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...

15. 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....

16. 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....

17. 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....

18. 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...

19. 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...

20. 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. ...

21. 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....

22. 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....

23. 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....

24. 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....

25. 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...

26. 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....

27. KPMG Property Lending Barometer 2020

28. 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...

29. 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...

30. 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....