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1711. Power outage refuels reform debate

A technical failure in the Vasilikos power plant was quickly restored Thursday morning, after rendering areas all over the Republic of Cyprus without electricity at a time when unions are up in arms over reforms in the industry...

1712. 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....

1713. 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...

1714. Health Minister escorts his mother to get AZ jab

In a symbolic act of support for Cyprus’ decision to administer the AstraZeneca jab to all ages, Health Minister Constantinos Ioannou accompanied his mother on Tuesday to the Engomi vaccination centre where she got her first AstraZeneca shot. ...

1715. FinMin: Cyprus to reduce debt once pandemic normalises

Cyprus Minister of Finance Constantinos Petrides told the Cyprus News Agency that the government will begin reducing public debt, increased due to strategic cash reserves, once the pandemic begins to normalise....

1716. 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...

1717. When the lights of the Palace begin to dim

The testimonies of 2013, say that in those critical days of the savings levy, there was a crowd of people on the hill of the presidential palace....

1718. From Bismarck to Merkel

'Turks and Germans loved each other for a long time,' Turkish President Recep Tayyip Erdogan said during a visit to Berlin in 2018. He was citing the historic words of Germany’s first chancellor, Otto von Bismarck, which still seem to determine Berlin’s policy on Ankara. We should recognize this reality as we enter a new geopolitical era, without succumbing to sentimentalism and spasmodic reactions....

1719. President blames CIP failure on recklessness

Cyprus’ disgraced Citizenship by Investment Programme took a heavy toll after it was 'recklessly promoted' overseas, according to President Nicos Anastasiades, who testified on Tuesday before an independent committee, while telling reporters later that he would not revisit the matter until after probe findings are concluded...

1720. 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....

1721. The hidden world of soil and why we need to protect it

In the wake of the climate crisis over the last decades, we all talk about the state of the air we breathe and the quality of our water; both undoubtedly invaluable and essential to all life forms. However, we very often forget another key player; the part of Earth right under our feet, the soil....

1722. 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....

1723. The key to a successful investment lies in… behaviour?

1724. Military man detained over 5G bomb attack

A private soldier was arrested on Tuesday in connection with an explosion outside a CYTA branch in Limassol last month, with police investigators estimating at least five people were involved in the anti-5G attack...

1725. Greek convict facing extradition skips court

Cypriot police are searching for a man free on bail, who is wanted by Greek authorities to serve the remainder of a long prison sentence, after he failed to attend a court hearing in Limassol...

1726. Your gateway to global investment opportunities

In the past, having resolved to ‘save for a rainy day’ financial well being, for many, took care of itself and your life’s goal was aided by interest earned on those monies, which saw your money working for you but the equation today is not so simple...

1727. Travel categories of SMS system that returns Sunday

The SMS system that Cyprus was happy to be rid of in late spring last year will be returning on Sunday as the island grapples with the rampant spread of coronavirus that has left the healthcare system increasingly burdened....

1728. SMS system returns as Cyprus enters three-week lockdown

Cyprus Health Minister Constantinos Ioannou announced the new restrictions agreed upon by the Cabinet on Friday, which include a clampdown on unnecessary movements, and social and professional gatherings....

1729. Cabinet locked into partial lockdown

A partial lockdown is expected to go into effect in the Republic of Cyprus some time after Friday, when the President’s Cabinet will decide on new measures to fight further spread of the coronavirus through the end of the month...

1730. Report says ministry was shuffling papers

An initial redacted report on golden passports made public in the Republic of Cyprus on Tuesday painted a picture of an Interior Ministry serving as a “filing office” without ability to examine cases in any meaningful way, with opposition crying foul over the committees’ selective method...

1731. Folli Follie report unveils 17-year scam

The troubled Folli Follie company’s major shareholders, the Koutsolioutsos family, reaped the benefits of a well-orchestrated fraud scheme that lasted for at least 17 years, under the nose of the supervisory authorities, generating hundreds of millions of euros in profits, according to an audit report by PricewaterhouseCoopers. ...

1732. Cyprus remains an attractive investment destination

Cyprus remains an attractive investment destination, especially among established investors ...

1733. 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...

1734. EY Cyprus sponsors 3rd Anti-Fraud Conference

EY Cyprus has, once again, sponsored and participated in the 3rd Cyprus Anti-Fraud Conference, which was organised by IMH and the Cyprus Chapter of the Association of Certified Fraud Examiners (ACFE). The event was held online on Tuesday 15th December...

1735. Police warn public about phony ATM messages

Police in Cyprus are warning the public to be on the lookout for suspicious text messages, saying scammers pretending to be bank employees are trying to trick people by telling them their debit cards have been blocked and need to be reauthorized...

1736. Bomb goes off ahead of 5G auction

An explosion took place outside a CYTA branch in Limassol with media speculating the attack could be linked to an upcoming announcement this week over 5G contracts...

1737. 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....

1738. New court culture coming to Cyprus

The president of the Cyprus Bar Association says justice reform is in the air in the Republic of Cyprus, after proposed rules on Civil Law Procedure were submitted on Thursday to the Supreme Court in hopes to introduce a new court culture on the island...

1739. France, EU lawmakers push for sanctions on Turkey next month

France is leading a push for European Union sanctions on Turkey next month to follow through on a threat made by the bloc in October, but has yet to win support from EU governments beyond Greece and Cyprus, officials and diplomats said. ...

1740. 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....