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2131. CITR Cyprus calls for modern insolvency rules

2132. K. Treppides & Co Ltd: Family offices and Succession Planning for the Next Generation

The expansion of the family office sector has increased exponentially since the millennium. For most family offices, the greatest challenge to overcome is the successful transfer of the family structure to the next generation....

2133. President lauds outgoing finance minister

President Nicos Anastasiades thanked outgoing Finance Minister Harris Georgiades for the work he has done in steering the economy “out of deep crisis towards growth" ...

2134. 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...

2135. Interior Minister says all have a duty to preserve Cyprus’ hard-fought reputation

We all have a duty to preserve Cyprus’ good name, Interior Minister Constantinos Petrides said on Thursday, adding that it took a lot of effort to reinstate the country’s fame under adverse circumstances....

2136. «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....

2137. Cypriot FM bets on economic diplomacy

Economic diplomacy is indispensable, Minister of Foreign Affairs Nikos Christodoulides said on Wednesday, adding the Foreign Ministry has elevated economic diplomacy to one of its top priorities...

2138. Friday the 13th to sort it all out

Britain will hold its first December election in almost a century after Prime Minister Boris Johnson won approval from parliament on Tuesday for an early ballot aimed at breaking the Brexit deadlock...

2139. 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....

2140. Clocks go back this weekend

People in Cyprus got an extra hour of sleep Sunday morning, as clocks fell back to winter time on Saturday after midnight marking the end of Daylight Saving Time...

2141. Pence urges Erdogan to halt operation

US Vice President Mike Pence met President Tayyip Erdogan in Turkey on Thursday on a mission to persuade him to halt an offensive against Kurdish fighters in northeast Syria, but Turkish officials said the action would continue regardless...

2142. 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...

2143. Financial Services towards Artificial Intelligence and Machine Learning

Artificial Intelligence in general and machine learning in particular, is not a new concept, but it is only in recent years that financial services firms have started to learn about and understand its full potential...

2144. Johnson vows to stay put to hit Oct. 31 Brexit deadline

Boris Johnson said on Sunday he would not quit as Britain’s prime minister even if he fails to secure a deal to leave the European Union, insisting only his Conservative government can deliver Brexit on Oct. 31. ...

2145. Government to introduce Green Tax Reform by 2021

Minister of Finance Harris Georgiades said on Thursday that the government would introduce in 2021 a “Green Tax Reform”. Georgiades was speaking to the press on the sidelines of the 20th Global Conference on Environmental Taxation which took place in Limassol...

2146. K.Treppides & Co Ltd: Time Value of Money

What if a close friend asks today to borrow 1,000EUR with the precondition to repay the exact same amount in five years? Would you take the deal or not?...

2147. USA blacklists oil company in Cyprus

An oil company registered in Cyprus has been blacklisted by US officials who blocked a total of four vessels for transporting Venezuelan oil to Cuba...

2148. Mitsotakis in New York – opportunities, substance, results

This week will see the first appearance of Prime Minister Kyriakos Mitsotakis at the United Nations General Assembly. He will make the customary speech before the plenary and be received by the UN secretary-general. However, the substance will be in the meetings that are to take place on the sidelines of the proceedings. ...

2149. 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...

2150. 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 ...

2151. 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 ...

2152. Israel's Netanyahu fights for record fifth term

Israeli Prime Minister Benjamin Netanyahu faces a battle for political survival in a closely fought election on Tuesday that could end his 10-year domination of national politics. ...

2153. Cavusoglu speaks to Kathimerini

Our meeting with the Turkish Foreign Minister Mevlut Cavusoglu took place in Famagusta on September 9, 2019, the day the Turkish official entered the fenced-off town of Varosha ...

2154. US ambassador cautions Nicosia over 5G

Nicosia is feeling the pressure over 5G technology as the Republic is caught in an international tech war between superpowers, only months away from state-owned Cyta making a move to upgrade its network...

2155. Johnson again bids for snap poll as Brexit delay bill to become law

British Prime Minister Boris Johnson will try for a second time on Monday to call a snap election, but is set to be thwarted once more by opposition lawmakers who want to ensure he cannot take Britain out of the European Union without a divorce agreement. With no majority in parliament, which is determined to prevent what many businesses fear would be a calamitous way to quit the EU, Johnson wants to hold an election to keep his promise of leaving by Oct. 31, with or without an agreement. ...

2156. 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)...

2157. Finance minister pleased with Waters’ visit

Finance Minister Harris Georgiades says a visit by a US delegation affirms that Cyprus is on the right track in combating money laundering, following a statement by California Congresswoman Maxine Waters who said “Cyprus is up to the challenge....

2158. 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...

2159. Macron sends stern warning to Ankara

In a show of solidarity with Cyprus, French President Emmanuel Macron sent a stern message to Turkey on Thursday that Paris and the European Union will not tolerate violations in the Eastern Mediterranean...

2160. 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. ...