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1621. Cyprus will request EC permission to implement mortage-to-rent scheme

Cypriot authorities plan to submit in June an official request to the European Commission for the implementation of a mortgage-to-rent scheme, aiming to address non-performing loans collateralized by primary residences and SME business premises with an estimated contractual value of €3 billion....

1622. Lower interest rates on deposits and consumer loans

A decrease in interest rates on deposits and consumer loans and a marginal increase in the interest rates on mortgages can be seen in the data published on Thursday by the Central Bank of Cyprus for March 2022....

1623. Halloumi production and distribution unaffected by war

The production and distribution of halloumi have not been affected by the war in Ukraine, said the Minister of Agriculture, Rural Development and Environment, Costas Kadis, saying that what they are trying to manage is the unallocated quantities from the pandemic period....

1624. First ever publicly financed equity fund will benefit Cyprus startups

The Ministry of Finance has long been committed to introducing a financial instrument to support startups and innovative companies with equity financing, ...

1625. EU states divided over Russian oil sanctions

The European Union was preparing sanctions on Russian oil on Monday, with possible exemptions for wary countries, and warned that complying in full with Moscow's proposed scheme to receive gas payments in roubles would breach existing EU sanctions....

1626. Plastic waste could be a thing of the past thanks to a new enzyme

Plastic waste dumped in landfills could be cleared sooner than expected after engineers developed an enzyme that can break it down in just a few hours....

1627. Zelensky warns of world food crisis as Russia blocks 4.5m tons of grain leaving Black Sea

The Russian army bombed a grain warehouse in Ukraine and tightened its blockade on Black Sea ports, sparking fears of a new global food crisis....

1628. Petrides: Government to continue support measures for vulnerable groups

The government is determined to continue the support it has been providing to vulnerable population groups against rising inflationary trends said Finance Minister Constantinos Petrides, speaking on the sidelines of the presentation of the Sponsorship Scheme for Student Dormitories and Rooms in the old city of Nicosia....

1629. Cyprus and EU economies facing a 'twin problem' following the war in Ukraine

The EU and Cyprus economies are facing a “twin problem” of rising commodity and energy prices and heightened uncertainty following the invasion of Russia in Ukraine, according to discussions held by the Nicosia Chamber of Commerce and Industry and the European Investment Bank (EIB)....

1630. Cashing in: No payment problems for Russian tourists in Turkey

Turkey is trying to attract more Russian tourists by expanding the usage of the Russian Mir payment system in Turkey as it seeks to bypass the payment bottleneck created by Western sanctions....

1631. Europe scrambles for natural gas solution as Putin squeezes supply

The European Union is racing to find alternative suppliers of natural gas after Russia's Gazprom cut flows to two EU nations, sparking fears that others will soon follow....

1632. Putin warns West of lightning retaliation

Russian President Vladimir Putin warned of lightning-fast retaliation if countries interfere in Ukraine as European leaders accused Russia of 'blackmail' over its cuts to gas supplies...

1633. K. Treppides & Co Ltd: Letting your property in Cyprus through online platforms (e.g. Airbnb)?

The economy of Cyprus is largely dependent on tourism, and this is evident from the fact that government revenues from tourism accounted for over 12% of Cyprus GDP in year 2019 (in accordance with publicly available statistics extracted pre Covid-19 pandemic). ...

1634. SBA land run rules in foreign investors

More opportunities and fewer restrictions for land development on SBA land went into effect on Monday in Cyprus, where foreign nationals will be allowed to invest along with locals who now have to review details and move quickly with any possible objections...

1635. Discord takes hold in front against Russian oil

Nicosia has been defending its stance towards sanctions against Moscow on the basis of principles and European unity, but lack of consensus for the bloc to seek a collective ban on Russian oil supplies has made cracks in the united front appear larger...

1636. The MSCI 2021 results are in - Consulco Outperforms the Market

The MSCI results are now available, and Consulco’s London commercial real estate portfolio has outperformed the Greater London Retail property market in all time frames over 3, 5 & 10 years, achieving a 7.5% total return per annum since inception....

1637. Op-ed: Inflation welcomes 'Generation Z'

Inflation is the rate at which prices rise, which means that we need more money to buy the same product or service. Consequently, if your salary stays the same, then your purchasing power will decrease, as you will be able to buy fewer goods and services....

1638. Restrictive measures to be lifted completely

With the epidemiological picture showing a small but steady improvement, the road to normalcy is wide open, with the agenda including the lifting of more restrictions and ultimately the introduction of new significant relaxations....

1639. A deal ‘everybody will hate’ to end the war in Ukraine

The most likely solution that will bring an end to the war in Ukraine is an agreement that “everybody will hate,” James Stavridis, NATO’s Greek-American former commander for Europe tells Kathimerini....

1640. Russia's ultimate 'revenge plan' for the US

As Russia’s war of aggression continues to ravage its neighbor, the Kremlin’s propaganda apparatus has been more blatant than ever in outlining the country’s goals for its biggest nemesis: the U.S....

1641. More than 100 private jets owned by Russian oligarchs are stuck in Dubai

Private jets belonging to Russian oligarchs that flew to Dubai to seek refuge from sanctions, following Russia's invasion of Ukraine are effectively stuck there, The Wall Street Journal reported....

1642. EIB ready to offer funding to mitigate effects of Ukrainian war on Cyprus

New investment opportunities in Cyprus, as well as funding to mitigate the effects of the war in Ukraine, were discussed on Monday by President Nicos Anastasiadis, Finance Minister Constantinos Petridis and European Investment Bank (EIB) President Werner Hoyer. ...

1643. More and more women just don't want children: 'Kids are expensive and sticky'

A new world of opportunities has made millennial women about four times as likely as women from the Silent generation to have a bachelor's degree. ...

1644. 'The Cypriot economy must be diversified'

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities on March 11–28, 2022 to discuss recent economic developments and policy priorities....

1645. EIB President visits Cyprus to discuss support for new investments

European Investment Bank President, Werner Hoyer, is in Nicosia meeting with representatives of the Cypriot Government today....

1646. US tourists flock to Greece

Indications are growing that tourism from the US in Greece this year will approach the levels of 2019, and even exceed them if the international geopolitical uncertainties are lifted....

1647. Increase of property supply leads to decline of housing prices

The increase in the property supply has contributed to a decline in prices in Cyprus in recent months, according to the latest figures reported by the Statistical Service of Cyprus (CyStat) this week....

1648. Property sales hit 14-year high in Cyprus

Property sales in March, as measured by the number of sale contracts deposited at Land Registry offices, hit a 14-year high according to figures released by the Department of Lands and Surveys....

1649. Inflation hits historic high in Cyprus reaching 7.1% in March

Inflation in Cyprus soared to 7.1% in March 2022, continuing its upward trend for the twelfth consecutive month....

1650. K. Treppides & Co Ltd: Cryptocurrency: The requirement of a firm to service the local market trading in cryptocurrency