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961. When the lights of the Palace begin to dim

The testimonies of 2013, say that in those critical days of the savings levy, there was a crowd of people on the hill of the presidential palace....

962. President blames CIP failure on recklessness

Cyprus’ disgraced Citizenship by Investment Programme took a heavy toll after it was 'recklessly promoted' overseas, according to President Nicos Anastasiades, who testified on Tuesday before an independent committee, while telling reporters later that he would not revisit the matter until after probe findings are concluded...

963. Anastasiades takes the stand in passports probe

Cyprus’ citizenship by investment scheme will not be revived but other incentives will be given to attract investments, excluding citizenship, President Nicos Anastasiades said on Tuesday, following a 3-hour-long testimony before the investigative committee probing Cyprus’ nixed citizenship-by-investment scheme....

964. The hidden world of soil and why we need to protect it

In the wake of the climate crisis over the last decades, we all talk about the state of the air we breathe and the quality of our water; both undoubtedly invaluable and essential to all life forms. However, we very often forget another key player; the part of Earth right under our feet, the soil....

965. Cyprus to receive 69,403 AstraZeneca doses in February

Cyprus will receive 69,403 doses of the AstraZeneca vaccine in February, according to information provided by the company, the Ministry of Health said Friday....

966. Policy priorities unaffected by pandemic, FinMin says

Despite the crisis of the Covid-19 pandemic Cyprus’ economic policies remain the same, targeting macroeconomic and financial stability, prudent fiscal policies, and establishing a competitive, business-friendly regulatory environment of high standards, Minister of Finance Constantinos Petrides said on Thursday....

967. The key to a successful investment lies in… behaviour?

968. Officials want young people settle in Strovilia

Dherynia officials are seeking ways to have young people populate abandoned homes in Strovilia, on British Base soil, despite challenges stemming from restrictions that were somewhat eased last year...

969. Dueling small parties help pass budget

The House in the Republic of Cyprus approved a revision of the government’s 2021 state budget on Thursday, following a month of consultations between the administration and small opposition parties that offered additional amendments to the bill...

970. Rampant spread contained but Cyprus still in red zone

Despite indications that the rampant spread of the virus has been contained, Cyprus remains in the red zone, Health Minister Constantinos Ioannou said Thursday....

971. COVID-19 is adding new impetus to finance transformation

972. Former FinMin tells passport probe he shares part of blame

Former Finance Minister Harris Georgiades told the independent investigative committee probing the citizenships by exception granted via the Republic’s nixed ‘golden passports’ program that “as a member of the Council of Ministers, I have a portion of the blame”. ...

973. Reporters to sit in on golden passport hearings

A number of reporters will be allowed from now on to attend ongoing probe hearings into alleged corruption in connection with Cyprus’ disgraced Citizenship by Investment Programme, with journalists being asked to commit in advance not to breach data privacy laws...

974. EY welcomes Eleni Sofocleous as a Director in EY Cyprus’ Tax Practice

EY Cyprus, staying true to its commitment to building a better working world, always looks to reinforce its teams with the brightest talents. In this context, we are proud to announce that, as of 11th of January 2021, Eleni Sofocleous has joined EY’s Tax practice...

975. Cyprus aiming for full absorption of EU funds

Finance Minister Constantinos Petrides said Cyprus wants to achieve an absorption of 100% of the maximum of €968 million it could receive from the European structural and investment funds, but this requires that Cyprus invests in projects amounting to €1.8 billion....

976. Cabinet locked into partial lockdown

A partial lockdown is expected to go into effect in the Republic of Cyprus some time after Friday, when the President’s Cabinet will decide on new measures to fight further spread of the coronavirus through the end of the month...

977. Government buys time on new COVID measures

The health, finance, and labour ministers of the Republic of Cyprus have been tasked to reconcile a number of issues before a Cabinet meeting on Friday, essentially stalling the announcement of new COVID measures which was expected on Thursday...

978. Cyprus holds turned thumb over lockdown

Cyprus’ lockdown stance continued to remain unclear following a special meeting between experts and the health minister, with the government hinting thumbs down for a new lockdown citing economic reasons but also thumbs up for stricter measures after hospitalizations reached dangerous levels...

979. Folli Follie report unveils 17-year scam

The troubled Folli Follie company’s major shareholders, the Koutsolioutsos family, reaped the benefits of a well-orchestrated fraud scheme that lasted for at least 17 years, under the nose of the supervisory authorities, generating hundreds of millions of euros in profits, according to an audit report by PricewaterhouseCoopers. ...

980. Cyprus remains an attractive investment destination

Cyprus remains an attractive investment destination, especially among established investors ...

981. Industrial/Logistics most attractive post COVID-19

Following the breakout of the COVID-19 pandemic, the Industrial/Logistics asset class has presently become the most attractive financing option for a majority of banks in Central & Eastern Europe, according to the results from the latest edition of KPMG’s Property Lending Barometer...

982. State budget battles rage on in Cyprus

Ruling party DYSI has been mounting a campaign over the last 24 hours to secure votes to pass the state budget, which is up in the air over golden passport probe wars, with added pressure also causing rifts even within smaller parties...

983. FinMin confirms Cyprus won’t reinstate ‘golden passports’ scheme

Finance minister Constantinos Petrides assured that the government will not be reinstating the Cyprus Investment Program (CIP), that was shut down after the shocking corruption revelations that emerged through an Al Jazeera investigation and the subsequent stark criticism by the European Commission. ...

984. Cyprus revises travel rules for vaccinated passengers

An inter-ministerial committee set up to spearhead the gradual resumption of flights agreed on an updated action plan on Thursday that allows those passengers who have been vaccinated against coronavirus to be exempted from the requirement of showing proof of a negative test....

985. Cyprus' auditor general makes Jiu Jitsu move

The audit office is reportedly preparing an unflattering report on Cyprus’ film industry government scheme, with local media suggesting some type of possible connection between newly-established Olivewood and golden passports...

986. Government ups rhetoric against auditor

The Cypriot government hinted over the weekend it might refer the auditor general to the Supreme Court over “indecent” behaviour, after the audit office published yet another damning report alleging offences in a Cabinet decision to grant investor passports to individuals linked to a casino project without meeting the criteria...

987. Support schemes averted drastic rise in unemployment

The package launched by the government to support employees and businesses amid the coronavirus pandemic has averted a drastic rise in unemployment, labour minister Zeta Emilianidou said Thursday....

988. Cyprus experiencing excessive macroeconomic imbalances

The European Commission said Wednesday that Cyprus continues to face excessive macroeconomic imbalances, particularly in view of the country’s very high percentage of non-performing loans that continue to plague the financial sector, but also in light of high private sector, government, and external debt....

989. EAC crucial to Cyprus' energy reform, energy minister says

The role of the Electricity Authority Cyprus is crucial to both the implementation of the energy reform in Cyprus and the joint effort for sustainable economic development, which must now be interconnected with green energy, energy minister Natasa Pilides said, addressing an online press conference during which the EAC presented its annual report for 2019. ...

990. Support schemes added to fight lockdown consequences

Alongside the tough restriction measures that came into effect on Thursday, additional support schemes were announced by the ministers of finance and labour in a bid to cushion the inevitable economic blow....