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2191. Co-Op deal with Hellenic still up in the air

The government is running against the clock with bad loans legislation, which would include a bill approving state guarantees for Hellenic Bank to absorb potentially high-risk loans in co-op takeover...

2192. Cyprus co-op bank freezes accounts with bad loans

The Cyprus Cooperative Bank on Friday froze accounts of customers who keep their loans delinquent on purpose, as the bank makes an effort to force them to seek refinance terms...

2193. ESM warns Cypriot banks of quick fixes

The European Stability Mechanism warns Cyprus that despite a recent decline in non-performing loans (NPL), the banking sector remains vulnerable due to weak profitability and a still high NPL ratio...

2194. Cyprus to crackdown on shell companies

The Central Bank of Cyprus has just made it harder for brokers to set up front companies on the island, following pressure from US officials who say more needs to be done to combat money laundering...

2195. Probe countdown begins for Cyprus Co-Op debacle

Attorney General Costas Clerides is moving forward with the launching of an investigation into possible offences at the Cyprus Cooperative Bank, in connection with bad loans worth €7.5 billion...

2196. Co-op bankers plead not guilty in loans scandal

Senior co-op executives pleaded not guilty to fraud charges in connection with a banking scandal where loans worth millions were given out without due process...

2197. #PoliticsBlog End of an era and Harris’ bitter chalice

Journalists often abuse the term 'end of an era' but in the case of the Cyprus Cooperative Bank, these words totally fit the bill...

2198. Government throws Co-Op ball in Hellenic’s court

The Cyprus Cooperative Bank will examine Monday a final offer from Hellenic Bank to acquire the troubled state-owned institution, with government seeing the buyout as a good step while critics saying tax payers are unfairly picking up the tab...

2199. UK Court convicts Cypriot drug lord’s mother

A UK court has convicted a Cypriot woman, mother of a drug lord in Cyprus, of talking part in an illegal drug trafficking network by making trips around London to collect money on her son’s behalf...

2200. Worried investors looking for Lillevyali in Cyprus

The whereabouts of Russian hedge fund manager German Lillevyali are currently unknown, but his possible location in Cyprus is shrouded in even more mystery as people are looking to get their money back...

2201. Couple in money fraud case suddenly off the hook

A married couple accused of stealing hundreds of thousands of euro from bank safe deposit boxes is off the hook after a state prosecutor failed to file charges against them properly....

2202. Hellenic moments away from CCB offer

The privatisation deal for Cyprus Cooperative Bank could be moments away, with Hellenic Bank putting the finishing touches on the final makeup of its new shareholder base...

2203. Funds & Cryptocurrencies: The Development and the Technology

For the second consecutive year, the Cyprus Chamber of Commerce and Industry, Cyprus-Russian Business Association and K. Treppides & Co Ltd are organizing a half day conference on the 14th of June 2018 at Four Seasons Hotel in Limassol, in an attempt to inform the investors and the Global Market about the Cyprus Fund’s market and the relationship that the Funds in Cyprus can have with the technology...

2204. New charges connect dots in Russia collusion probe

Recent witness tampering allegations against Paul Manafort, the former Trump campaign manager accused of money laundering in Cyprus among others, are linked to new charges against a political operative with alleged ties to Russian spies...

2205. ECHR rules against Cyprus in abuse complaint

The Republic of Cyprus will have to pay €25,000 to a Canadian citizen, following a decision by the European Court of Human Rights that found he was abused while in police custody and authorities did not carry out an effective investigation into his complaint...

2206. Kalogerides fears for his life in prison

A bank robbery suspect in Limassol fears for his life following his arrest, saying he is worried that the Russian ‘Vory v Zakone’ mafia is well connected on the island including inside the prison...

2207. Capital controls eased further as of Monday

Capital controls were eased further on Monday with depositors now permitted to withdraw a monthly maximum of 5,000 euros from bank accounts, up from 2,300 euros....

2208. Turkish aid to north comes to 430 million

The Turkish Cypriot economy is expected to get a boost from Turkish aid in 2018, with approximately €430 million being spent in different areas of the self-declared state in the north...

2209. Cypriot mother-son duo involved in illegal drug entreprise

Two Cypriots, mother and son, are involved in a case of international illegal drug trafficking, with UK authorities saying the woman in London was making trips to collect money on her son’s behalf...

2210. Audit report on CCB made public amid negotiations

An audit report on the Cyprus Cooperative Bank (CCB) was made public on Friday, amid negotiations between the Co-op and its two bidders, making recommendations for improvement but also criticising the institution on a number of decisions...

2211. Account manager gets 8 years for stealing €2 million

An accounts manager in Nicosia has been sentenced to eight years after she was found guilty of embezzlement and money laundering to the tune of €2 million...

2212. Passport scheme could bring ‘Dutch disease’ to Cyprus

The Fiscal Council is warning that the passports-for-cash scheme could mean that some sectors of the economy could suffer while others grow, a phenomenon known as the Dutch disease...

2213. Spanish police detain, then release Kremlin critic Browder

British businessman Bill Browder, a prominent Kremlin critic, was detained and then released by Spanish police on Wednesday, after a warrant for his arrest he said came from Russia was found to be no longer valid...

2214. US officials give list to Cyprus central bank

Officials from the US Department of Treasury have asked authorities in Cyprus to scrutinize a number of personal accounts, following a recent visit to the island...

2215. Government and Co-op begin consultations with bidders

2216. Search for 'lost brides' of Cyprus digs up painful past

Those who witnessed it said a sobbing Fetine Menish had to be physically dragged by each arm to meet her fate; the 14-year-old was being married off to a Palestinian merchant searching Cyprus for a suitable Muslim wife to take back home...

2217. ARIS joins forces with Taurus Aurum to supercharge the Cypriot startup entrepreneurship ecosystem

ARIS, an early-stage accelerator launched by the Bank of Cyprus and Deloitte earlier this year and Taurus Aurum Global Property Fund Limited, a multicompartamental private-owned self-managed Alternative Investment Fund headquartered in Nicosia, signed a Memorandum of Understanding (MOU) on the 24th of May 2018 in Nicosia...

2218. Film producer Weinstein to surrender on sex assault charges

Film producer Harvey Weinstein was expected to surrender to authorities in New York on Friday, months after he was toppled from Hollywood’s most powerful ranks by scores of women accusing him of sexual assault, a person familiar with the case said....

2219. Mueller probes PSY Group’s money flow into Cyprus

US Special Counsel Robert Mueller is turning his attention to Cyprus and bank records of an Israeli-based firm that worked together with Cambridge Analytica to boost election chances for President Donald Trump...

2220. CBD bank fined  €715,000 for non-compliance of anti-laundering rules

The Central Bank of Cyprus announced Tuesday that it has imposed a fine amounting to €715,000 on the Cyprus Development Bank Ltd due to non-compliance with anti-laundering laws and directives...