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541. 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....

542. Islandwide rollout of 'pay as you throw' programme in 2022

The ‘pay as you throw’ programme is expected to be rolled out across Cyprus next year, President Nicos Anastasiades said Wednesday....

543. Cyprus rejects EU draft on Turkey which seeks to deepen trade ties

Cyprus has rejected a draft prepared for a summit of EU leaders this week which seeks to deepen trade ties with Turkey, describing it as “totally unacceptable.” ...

544. 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....

545. Coordination for green digital transition needed, Kokkinos says

Deputy Minister of Research, Innovation and Digital Policy, Kyriakos Kokkinos stressed the need to coordinate actions and investments at national and European level to achieve the EU's goals "for a sustainable, digital and green transition, empowering businesses with an emphasis on the SME and start-up ecosystem, and ensuring EU technological dominance", during his intervention at the informal teleconference of the Competitiveness Council for Research, under the Portuguese Presidency....

546. Anastasiades joins EUCO summit prep with EU leaders

President Nicos Anastasiades participated on Tuesday in a teleconference with the President of the European Council and EU heads of state and government, in preparation for the extraordinary European Council summit to take place online on February 25-26. ...

547. Brussels concerned over Pournara refugees

The Republic of Cyprus’ handling of asylum seekers at Pournara camp remains on Brussels’ radar, with a host of different challenges raising questions over how the European Union and some member states can get on the same page without resorting to legal battles...

548. Oktay: Forget any bargaining over Varosha

549. Ferry link hopes end with a whimper

Shipping transport companies remained unconvinced over Cyprus’ effort to revive and subsidize a ferry link with Greece, with the government going back to the drawing board after no bidders came forward by Friday’s deadline...

550. 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....

551. Dueling small parties help pass budget

The House in the Republic of Cyprus approved a revision of the government’s 2021 state budget on Thursday, following a month of consultations between the administration and small opposition parties that offered additional amendments to the bill...

552. MPs vote on budget hanging by a thread

The House takes another vote on the state budget on Thursday, with representatives expected to pass the bill narrowly following behind-the-scenes consultations since the first time it was rejected in mid-December...

553. Biden rolls back Trump policies on Day One

US President Joe Biden on Wednesday began signing 15 executive actions addressing the coronavirus pandemic, climate change and racial inequality, and undoing some policies put in place by his predecessor Donald Trump...

554. Cyprus aiming for full absorption of EU funds

Finance Minister Constantinos Petrides said Cyprus wants to achieve an absorption of 100% of the maximum of €968 million it could receive from the European structural and investment funds, but this requires that Cyprus invests in projects amounting to €1.8 billion....

555. Cyprus, Portugal agree to take ties to next level

Cyprus Foreign Minister Nikos Christodoulides paid an official visit to Portugal’s capital on Thursday for a tête-à-tête with his Portuguese counterpart Augusto Santos Silva on the occasion of Portugal’s assumption of the presidency of the Council of the European Union on January 1....

556. 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. ...

557. Parliament votes state budget down

Parliament on Thursday voted the 2021 state budget down with 29 votes against and 24 in favour....

558. Cyprus’ migrant camp way over capacity

The overcrowding situation with refugees and asylum seekers at Pournara camp was back in the news, following an unannounced visit by the state’s Ombudswoman who said she saw some improvements but also some problems still not being addressed such as the right to move freely out of the camp...

559. EU leaders weigh sanctions over Turkey’s Med drilling

Concerned that their credibility is at stake, European Union leaders are set Thursday to give the green light to the expansion of sanctions against Turkey over its exploration of gas reserves in Mediterranean waters claimed by EU members Greece and Cyprus....

560. 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. ...

561. 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....

562. Cyprus' auditor general makes Jiu Jitsu move

The audit office is reportedly preparing an unflattering report on Cyprus’ film industry government scheme, with local media suggesting some type of possible connection between newly-established Olivewood and golden passports...

563. Trump okays Biden transition

After weeks of waiting, President Donald Trump’s administration on Monday cleared the way for President-elect Joe Biden to transition to the White House, giving him access to briefings and funding even as Trump vowed to continue fighting the election results...

564. Elusive businessman with Cyprus ties pops up

The whereabouts of elusive Russian hedge fund manager German Lillevali, who was linked to a flurry of companies in Cyprus after he became a resident, are no longer a mystery after reports that he was detained in the US on an immigration violation but released due to overcrowding amid the coronavirus pandemic...

565. EU extends ability to impose sanctions on Turkey

The European Council on Friday issued a one-year extension to its framework for sanctions that could be imposed on individuals and entities responsible for Turkey’s controversial gas exploration and drilling activities in the Eastern Mediterranean....

566. Woman loses 20 grand in bitcoin scam

A woman in Limassol says she lost over €20,000 after an unknown person convinced her to invest real money in cryptocurrency...

567. Appointment of Directors, Principals, Senior Manager in K. Treppides & Co

The Management of K. Treppides & Co Ltd committed to develop leadership that derives from its own people, who pursue excellence in the provision of high quality specialised and unique services, is pleased to announce the appointment of the following members into the Board of Management with effect 1 October 2020...

568. Gigolo murder suspect still in custody

The two suspects in the murder of a well-to-do mother of three in Limassol have been order to remain in custody, while local media say a person in Nicosia was questioned after it emerged that the murder suspect had sold stolen jewelry belonging to the victim...

569. EY Attractiveness Survey Cyprus 2020

EY Attractiveness Survey Cyprus 2020: Investors are optimistic about the country’s attractiveness over the coming years, but state that there is room for improvement...

570. EU set to sanction Turkey over ships in disputed East Med exploration area

The European Union is preparing sanctions against Turkey that could be discussed at the bloc's next summit on September 24 in response to the Eastern Mediterranean dispute with Greece, the EU’s top diplomat said on Friday. ...