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211. President urges solution as foreclosure laws vote approaches

Cyprus is heading towards suspending first residence property foreclosures up to 350,000 euros until the end of October....

212. Russia to close investigation into mercenary-led rebellion

Russian authorities said Tuesday they have closed a criminal investigation into the aborted armed rebellion led by mercenary chief Yevgeny Prigozhin and are pressing no charges against him or his troops....

213. €10 banknote most counterfeited bill in Cyprus

In a recent annual report, the Central Bank of Cyprus shed light on the prevalence of counterfeit bills and coins circulating in the country. The report, according to an article on Philenews, highlighted the €10 banknote as the most counterfeited bill, making up 40.8 percent of the total counterfeit pieces....

214. Wagner mutiny exposes the fragile balance in Putin's regime

The Wagner mutiny, which lasted less than 24 hours, was the result of a toxic mix of jealousy, rivalry, and ambition that had been brewing for months....

215. Conservatives storm to victory in repeat Greek election

Greece's conservative New Democracy party stormed to victory in a parliamentary election on Sunday with voters giving reformist Kyriakos Mitsotakis another four-year term as prime minister...

216. MPs move forward with divestment changes

MPs are displaying a resolute determination to press ahead with crucial changes to the divestment framework before the parliamentary summer recess....

217. Total loans increase by €71 million, reaching €24.4 billion

Non-performing loans decreased by €105 million end of March 2023, compared to the end of December 2022, reaching €2.2 billion, according to data published by the Central Bank of Cyprus on Tuesday. ...

218. Giuliani believes Burisma bribed people in Cyprus

Former Trump lawyer Rudy Giuliani says people in Cyprus and other countries were paid hush money in a global shakedown of the owner of Burisma in order to keep the Ukrainian energy company above scrutiny...

219. Burisma owner may have Bidens on tape

Shocking revelations in Washington suggest the owner of Burisma, a Ukrainian energy company registered in Cyprus, said he had secretly recorded phone conservations with Joe Biden as 'insurance policy' while accusations continue to build up against the FBI for redacting crucial information from a document alleging bribery and corruption...

220. The 'holiday scam': Protecting yourself when booking online

An increasing number of individuals are opting to plan their vacations online, a trend that, as observed in previous years, carries potential risks and pitfalls. ...

221. Innovative payabl. POS Card Terminals make omnichannel payments simple and easy

Get ready to embrace the future of payments with payabl. - the cutting-edge payments company that's shaking up the industry. In a game-changing move, payabl. has just launched its revolutionary point-of-sale (POS) solution for in-person payments, aimed at transforming the way retailers conduct business. The best part? This is happening right now in Cyprus....

222. April records a decrease in loan volumes

The Central Bank of Cyprus announced in a press release on Tuesday that total new loans decreased to €473.9 million in April 2023, compared to €922.5 million in the previous month....

223. IMF says Cyprus untouched by war fallout

The economy of Cyprus is expected to slow to around 2.5% in 2023, reflecting an erosion in household incomes, tighter financial conditions, and delayed impacts from sanctions against Russia, International Monetary Fund forecasts, after the conclusion of the Article IV consultation with Cyprus...

224. Local home buyers feel priced out in divided Cyprus

Cypriots on both sides of the divided island have been noticing real estate prices going up in recent years due to foreign buyers willing shell out more, with reports suggesting the trend is going nowhere but up...

225. China digs deeper to explore new frontiers

Chinese scientists have begun drilling a 10,000-meter (32,808 feet) hole into the Earth’s crust, as the world’s second-largest economy explores new frontiers above and below the planet’s surface....

226. 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....

227. 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. ...

228. EY: 4th Women Fit for Business Program Successfully Completed

229. 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. ...

230. Italians come clean on EastMed gas

Turkey cannot be left out of the natural gas game in the eastern Mediterranean according to ENI’s newly re-elected CEO Claudio Descalzi, whose recent comments during a parliamentary hearing committee echoed latest developments but also gave credence to Rome’s previous doubts over Cypriot endeavors that bypass Ankara...

231. President acknowledges hiring mistakes: Promises reforms for transparency

President Nicos Christodoulides has acknowledged errors in the hiring process of advisers within the Presidency and ministries. Addressing the issue of hiring a consultant at the Deputy Ministry of Culture during his statements in Larnaca,...

232. 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...

233. Interest rates rise for housing and corporate loans

Interest rates for housing loans in March 2023 increased by 1.25% compared to February 2023, while interest rates for corporate loans also rose, according to statistics released Friday by the Central Bank of Cyprus....

234. Banks announce measures on interest rates

Since July 2022, lending rates in Cyprus have risen by 3.5%, putting borrowers in a difficult position with dangerously increasing loan repayments....

235. Turkey says it ‘KANN’ deliver on air defence

A fifth generation stealth fighter jet developed and produced in Turkey was shown off on Monday, with Ankara delivering on a promise made two years ago when the first indigenous engine was put to the test amid F16 restrictions...

236. Davis Cup playoffs return to Cyprus

The Cypriot Davis Cup Team will fight in Cyprus for qualification at the European Zone Group B promotion play-offs....

237. Hacked data from Cyprus up for grabs on darknet

Encrypted folders with stolen information from Open University of Cyprus may be available on the dark web, where data brokers and identity thieves can now buy access to private information of students and staff after the institution failed to pay ransom...

238. Finance Minister considers lowering VAT rates for basic necessities

The Minister of Finance of Cyprus, Makis Keravnos, has announced that the Ministry is considering measures for banks and credit-acquiring companies to absorb high-interest rate increases, as well as reducing value-added tax (VAT) for basic necessity products to tackle high prices....

239. Finance Minister requests containment of lending rates for housing loans

The Finance Minister of Cyprus, Makis Keravnos, has written letters to the Director General of the Cyprus Banks Association and the Director General of the Association of Credit Acquisition Companies and Credit Facility Managers, requesting measures to control rising lending rates for serviceable loans up to €350,000....

240. Numerous foreclosure sales expected in 2023 and 2024

The COVID-19 pandemic and the subsequent suspension of divestments since 2020 have led to the creation of a considerable volume of properties for disposal that banks and credit purchase companies have on their balance sheets....