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121. Applications open for 'Rent in Exchange' program

"The submission of applications for the 'Rent in Exchange for Installment' program will begin in October," said Ioanna Markidou, Chief Economist A' at the Ministry of Finance, in a statement to CNA....

122. Police corruption: 15 cases in court with 2 convictions since 2018

Marinos Kyriakides, the deputy representative of the Internal Audit Service of the Police, presented data on police corruption cases to the Parliamentary Committee on Institutions....

123. Loan demand in Cyprus falls, interest rates rise

The Cypriot banking institutions are holding a small basket for demand in new loans....

124. Proposed foreclosure reforms spark debate in Cyprus

Three proposals will be discussed at the last Plenary Session of the House of Representatives before the summer recess, along with three scenarios regarding the outcome of the foreclosure framework....

125. Contentious foreclosure legislation sparks debate in Parliament

The issue of foreclosures remains unresolved and will be the focal point of the upcoming plenary session on Thursday, July 13. ...

126. Parliament approves foreclosure law

A significant mobilization by the Government and the Central Bank of Cyprus took place this week regarding the framework of foreclosures, primarily to withdraw the "problematic" proposal that, according to the state and banks, would have negative consequences for the Cypriot economy....

127. The government's seven proposals for vulnerable individuals

Finance Minister Makis Keravnos submitted seven government actions aimed at addressing issues related to non-performing loans to Parliament yesterday....

128. EU Commission proposes digital euro as cash alternative

Digital currencies have grown in popularity. Unlike bitcoin, the digital euro would be a central bank digital currency (CBDC), essentially, electronic cash. ...

129. Schools vulnerable to ransomware

The confidential documents stolen from schools and dumped online by ransomware gangs are raw, intimate, and graphic. They describe student sexual assaults, psychiatric hospitalizations, abusive parents, truancy — even suicide attempts....

130. Parliament to vote on law for borrowers' foreclosure appeal

The news from the "Oikonomiki Kathimerini" about the suspension of first home foreclosures up to €350,000 until the end of October has been confirmed. ...

131. 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....

132. 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....

133. €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....

134. 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....

135. 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...

136. 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....

137. 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. ...

138. 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...

139. 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...

140. 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. ...

141. 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....

142. 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....

143. 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...

144. 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...

145. 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....

146. 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....

147. 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. ...

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

149. 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. ...

150. 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...