Search

481. Bank of Cyprus gets rid of small business bad loans

The Bank of Cyprus says it has sold a portfolio of non-performing loans worth €2.8 billion to Apollo Global Management, a transaction that will reduce its stock of NPLs to €5.2 billion...

482. Over a thousand employees choose Co-Op buyout

Over a thousand employees at Cyprus Cooperative Bank signed up for a voluntary severance package, well above the target of 900 set by the bank ahead of a takeover by Hellenic Bank...

483. Investing in knowledge

A growth rate of 1.9 percent is way too small for a country like Greece, especially as the rest of Europe’s performance is so much more robust. This is, after all, a country that shed 25 percent of its gross domestic product (GDP) in the course of a decade. What we should be seeing, therefore, is the effect of a tightly wound spring, whereby a virtuous cycle of growth begins and only gets faster with time. Instead, we’re hobbling along at 1.9 percent, the slowest rate an economy can achieve after hitting rock bottom....

484. Holiday Inn Nicosia under new ownership

Holiday Inn Nicosia is coming under new ownership, after Greek company NBG Pangaea shelled out two thirds of the total price of €11.2 million...

485. 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...

486. 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...

487. Parents of Ayia Napa murdered victim blame Cyprus

The parents of George Low, the 22-year-old Briton who was stabbed to death in Ayia Napa two years ago, say the killers of their son walk free because north and south in divided Cyprus don’t cooperate...

488. 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...

489. Government and Co-op begin consultations with bidders

490. Cyprus tightens vetting for investment-for-passport scheme

In the wake of criticism that it was operating a "passports-for-cash" scheme, Cyprus has toughened up vetting procedures for those investors looking to get their hands on a European Union passport...

491. The first modern Islamist fundamentalist conquest of the West?

New revelations expose Turkey stealthily positioning itself to attempt to permanently possess the northern third of Cyprus which is rich in hydrocarbons...

492. EasyJet founder wealthiest Cypriot in the UK

The Sunday Times published the names of 1000 richest people in the UK, with easyJet founder Stelios Hadjioannou topping the list among Cypriots...

493. Co-op receives two bids in good bank, bad bank scenarios

The Cooperative Central Bank (CCB) announced on Monday it has received two bids as part of its privatisation process launched in March, with one bidder going after the ‘good bank’ scenario just as the European Commission approved the acquisition of Altamira Cyprus by a joint platform with CCB and one of the bidders...

494. Trump lawyer took money from firm linked to Russian oligarch

An attorney for porn star Stormy Daniels said that Donald Trump’s lawyer, Michael Cohen, was paid $500,000 by a company with ties to a Russian oligarch who was hit last month with US sanctions to punish Moscow for activities that included suspected meddling in the 2016 US election...

495. Hawaiians brave volcanic lava to rescue their pets

Lava spewing in fountains up to 90 meters high from an erupting Hawaiian volcano has destroyed 35 homes and other buildings, officials said, warning residents allowed brief visits to their properties to be prepared to flee at a moment’s notice...

496. Cyprus Residency and Citizenship-by-Investment Scheme Remains Appealing to Investors

With more than three decades of presence operating as a leading international advisory services firm, K. Treppides & Co Ltd offers insight into the latest residency and investment trends to impact Cyprus...

497. Cyprus mortgage values drop by €62.28 million during April

The number of mortgages issued in April reached 1,317 down from 1,804 in March when their value was €299.63 million...

498. Cyprus is open for business and China’s buying

As US President Donald Trump builds barriers to Chinese trade, Cyprus is throwing open the gates...

499. Buying Greek property makes sense

Investor confidence in the real estate market’s prospects and the notion that prices have completed their downward cycle has prompted more property acquisitions...

500. CNN video peeks at Cypriot EU passports for Russians

Cyprus was featured on CNN’s Around The World video section, where special reporter Matthew Chance highlighted the controversial passport scheme which grants citizenship to wealthy foreign nationals....

501. Banks in Cyprus, Greece and Portugal may need further reserve build-up

Fitch also notes that average NPL/total loan ratios at the EU`s largest banks had declined to 4% by end-2017 from 6.5% at end-2014...

502. Paphos getting ready to rise

Paphos Mayor Fedonas Fedonos says his city is reviewing a handful of applications for high-rise buildings while trying to avoid the mistakes of rival town Limassol....

503. Land registry case pending for 34 years

The Land Registry office in Nicosia is in the hot seat following a report by the Ombudsman’s office in connection with a case that has been pending for 34 years. A report now is calling on the director to adjudicate or let the matter go to court....

504. Food, buses, and cash - Getting out the vote the Egyptian way

Some women in working class Cairo neighbourhoods told Reuters they were promised bags of food in exchange for voting...

505. Employment increased in last quarter of 2017

Cypriots worked more hours in Q4 2017 than the year before...

506. Moody's sees robust economic recovery helping Cypriot banks

It expects that banks will continue to make progress on restructuring troubled loans and selling real-estate collateral...

507. Norway underlines faith in London with unlisted property bets

The Norwegian fund is one of the biggest foreign investors in Britain...

508. Seven Cypriots named in Forbes' Billionaire list

Foreign businessmen are among the Cypriots listed on Forbes’ Billionaire list in 2018, with all seven of them totalling €17.6 billion in combined net worth despite none of them residing on the island. ...

509. Paphos holds title for selling land to most foreigners

The booming city of Paphos has managed to defend its title for being at the top of real estate sales to foreign buyers, surpassing Limassol which is a very popular investment destination particularly for Russians. But there is some criticism over some of the tools being used to attract buyers, namely the cash-for-passport scheme....