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661. New Life in Cyprus of Russian Businessman after unfair seizure of Promsvyazbank

In 2017 Dmitry Ananiev was at the peak of his success. He and his brother Alexei owned a bank, an IT firm and an office complex overlooking the Moscow River. ...

662. Cyprus enjoys strong growth prospects but contingent liabilities remain

Strong growth prospects and sustained fiscal discipline places Cyprus on a firm declining path but contingent liabilities, healthcare and public sector wage-related costs, as well as weaker external conditions, pose risks to the fiscal outlook, Scope rating agency said in commentary on Cyprus....

663. Banks must find new profitable products, CBC Governor says

The task of securing alternative profitable products besides lending is the biggest challenge for banks in small countries such as Cyprus, Central Bank Governor Constantinos Herodotou said on Friday....

664. Worker critical after fall in Paphos warehouse

A man in Paphos was rushed to the Emergency Room following a work-related accident, where he fell and severely injured his head...

665. Cyprus slightly above EU average on women scientists and engineers

In 2018, of almost 15 million scientists and engineers in the EU, 59% were men and 41% women, according to figures released by Eurostat, ahead of the International Day of Women and Girls in Science, celebrated on 11 February. Cyprus ranks close to the EU average with 42%, followed by Romania (41%), France (40%), and Greece, the Czech Republic and Slovakia (all 39%). ...

666. PRIO: A Cyprus solution could reap high economic benefits

A solution to the Cyprus problem will create large new markets, research conducted by the independent, bicommunal research centre PRIO showed....

667. President’s air travel under scrutiny

Cypriot President Nicos Anastasiades is firing back at critics saying his use of a private jet owned by a Saudi billionaire has actually saved the state a lot of money, while opposition parties raise fears of dependency and quid pro quo with foreign donors...

668. Insurers need profound transformation and the right talent

As insurance industry growth remains stagnant for another year due to low interest rates, the shifts in consumer demographics around the world coupled with heightened expectations for digital experiences present insurers with risks and opportunities...

669. Tough dilemmas in Greek-Turkish affairs

Turkey’s claims in the Aegean were first brought to the table in 1973 and have escalated ever since, reaching successive peaks over 10 to 15 years and multiplying...

670. House passes 2020 budget

The House of Representatives voted the state budget for 2020 on Wednesday evening with 29 votes in favour and 23 against...

671. CITR Cyprus calls for modern insolvency rules

672. Central warns banks ‘not to overdo it’

The Governor of the Central Bank of Cyprus has called on smaller local banks not to get carried away with loaning money, urging them to follow the example of bigger banks and focus on reducing toxic debt...

673. EU okays framework on Turkey over Cyprus

European Union foreign ministers agreed on Monday economic sanctions over Turkey's drilling off the coast of Cyprus, setting up the legal framework for travel bans and asset freezes but leaving names until a later date...

674. «Growth momentum moderates» in Cyprus according to Εuropean Commission Autumn Economic Forecast

"Growth momentum moderates" in Cyprus, according to the headline assessment of the European Commission`s Autumn Economic Forecast for the country, presented today by Commissioner Moscovici in Brussels....

675. Cyprus to start process for early repayment of IMF loan, Finance Minister announces

Finance Minister Harris Georgiades announced on Tuesday that an official process will be launched for the early and full repayment of an IMF loan, following the repayment of a loan from Russia....

676. Johnson seeks backing for early election

The European Union agreed to a Brexit delay of up to three months on Monday, as Prime Minister Boris Johnson said he would push on with his bid to end Britain’s political paralysis with an election on December 12...

677. Brexit deal agreed as EU summit begins

Britain clinched a last-minute Brexit deal with the European Union on Thursday, but still faced a challenge in getting it approved by parliament...

678. Last straw as Johnson heads to Brussels

European Union leaders’ two-day summit in Brussels starting on Thursday will be dominated by last-gasp efforts to seal a deal on Britain’s exit from the bloc despite a raft of other pressing issues, from the crisis in the Middle East to the bloc’s budget...

679. Maritime Cyprus kicks off in Limassol

Maritime Cyprus 2019 Conference kicks off Monday in Limassol with the participation of more than 800 shipping executives from around the globe...

680. Hellenic Bank posts profit of €59.1 million in first half of 2019

The Hellenic Bank has announced that it has posted a profit of €59.1 million after tax in the first half of this year with CEO Yiannis Matsis noting that the results reflect part from the benefits from the acquisition of the operations of former Cyprus Cooperative Bank. ...

681. Moody's changes Cyprus outlook to positive

Rating agency Moody’s changed the outlook for the Cypriot economy to positive from stable, citing the reduction of the sovereign exposure to event risks stemming from the banking sector and the improving fiscal strength beating previous expectations...

682. Cyprus to fully repay IMF loan in 2020

According to figures from the 2020 budget presented by Finance Minister Haris Georgiades to the Cabinet, Cyprus will repay the IMF loan early resulting in government debt reduction to 91.1% of GDP ...

683. Cabinet approves surplus 2020 budget

The Cabinet approved on Wednesday the budget for 2020, which foresees a surplus in state finances, while a significant increase in spending is planned due to the implementation of the General Healthcare System ...

684. Overtaxation led to tax evasion

Losses incurred by the state coffers due to tax evasion in 2014-17 were greater than the value-added tax revenue increase as a result of consecutive tax hikes, according to a European Commission report on the so-called VAT deficit (the difference between the expected VAT revenues and actual collections)...

685. Johnson demands October 15 election after defeat over Brexit

British Prime Minister Boris Johnson on Wednesday demanded an Oct. 15 snap election after lawmakers seeking to prevent a no-deal Brexit dealt him a humiliating defeat in parliament which he cast as an attempt to surrender to the European Union...

686. Singing from the same hymn sheet

I feel that the success of the New Democracy administration will largely depend on Premier Kyriakos Mitsotakis’ ability to strike a balance between the two camps...

687. Builder falls to his death in Limassol

Authorities are investigating an accident in Limassol where a local construction worker fell to his death on Friday...

688. Scope rates Cyprus with BBB-

Scope Ratings affirmed last week the Republic of Cyprus’ BBB- long-term issuer and senior unsecured local- and foreign-currency ratings, along with a short-term issuer rating of S-2 in both local and foreign currency, noting that all outlooks are stable...

689. Moody’s expects deleveraging to resume but warns over small economy and high level of debt

The credit profile of Cyprus reflects its small but wealthy economy, improved economic resilience and the government`s fiscal outperformance in the wake of the country`s banking crisis, Moody's Investors Service has said in an annual report. ...

690. Stella Kyriakidou: Climate change and gender equality a priority for the EU

There have been many who have questioned the EU because of the economic crisis that has emerged in recent years. Today we are coming out of this crisis and we realize that the EU still has a lot to offer....