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91. How high is too high before tax relief kicks in?

Diesel prices have dipped by nine cents per liter at gas stations compared to late August, while unleaded 95-octane petrol is now six cents cheaper....

92. Bank refunds $500,000 to elderly customer

From Australia comes a story of corporate responsibility in the face of personal tragedy as an elderly national bank depositor had nearly AUD$500,000 returned to him out of the bank’s own pockets. ...

93. K. Treppides & Co Ltd: Cyprus financial market recovery or impending closure? Uncovering hidden risks

94. Government cuts interest income rates from 30% to 17%

The Cyprus government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said on Wednesday, noting that banks should follow suit in boosting income for depositors. ...

95. Government extends zero VAT on essentials

The government has decided to extend the application of the zero VAT rate on essential goods for another six months, with Finance Minister Makis Keraynos announcing the addition of coffee and sugar to the list of exempted products....

96. Cyprus aims to shine with 'Cypriot Red Soil Potato' in European market

Ministry of Agriculture, Rural Development, and Environment, is making every possible effort to address new challenges while improving the competitiveness of the agricultural sector, said the Minister of Agriculture, Rural Development, and Environment, Petros Xenophontos....

97. Compensation plans unveiled for Akamas communities

Starting tomorrow, September 1, 2023, the stipulations outlined in the Akamas Local Plan will be enacted. Yesterday, Mr. Konstantinos Ioannou, the Minister of Interior, and Mr. Petros Xenophontos, the Minister of Agriculture, Rural Development and Environment,...

98. AKEL's bold demand: Tax bank profits to power people's pockets

The AKEL political party is urging the government to take immediate action to alleviate the financial strain on Cypriot households by taxing banks' surplus profits and redirecting the funds towards fuel and electricity subsidies....

99. Cyprus nationals arrested for money laundering in Singapore

The Singaporean Police arrested 10 foreigners on suspicion of money laundering and forgery offenses in connection with a case involving 1 billion Singapore dollars (737 million dollars) in cash, luxury cars, and other assets. ...

100. Averof Neophytou's tweet to shed light on today's economy

In a recent Twitter post, Averof Neophytou, a well-known figure in politics and a former leader of the Democratic Party, shared his thoughts on the current state of the economy. ...

101. Uncontrolled land sales in occupied territories raise concerns

Kudret Ozersai, Chairman of the People's Party of the "TRNC", has sounded an alarm over the potential danger posed by unregulated real estate sales via companies in the pseudo-state. Ozersai has demanded immediate transparency regarding the extent of land areas sold to foreigners....

102. Court dismisses depositors' claims in controversial Laiki bank case

On August 10, 2023, the Nicosia District Court rendered a judgment dismissing a claim pertaining to the impairment of plaintiffs' deposits in the former Laiki Bank back in 2013. The plaintiffs had brought the case to challenge the constitutionality of the resolution measures implemented by the State in accordance with the "Resolution of Credit and Other Institutions Law of 2013."...

103. Cities across Europe, including Cyprus, to showcase disabled-friendly urban areas

Nicosia, Limassol, Famagusta and Paphos now have the chance to exhibit their achievements in creating disabled-friendly urban spaces as European cities compete for the prestigious Access City Award. ...

104. Drone strikes hit Moscow's financial district

Economic sanctions have been the biggest headache for Russia's business elite since the start of the war in Ukraine, but two drone strikes in the heart of Moscow's financial district are forcing companies to think about their employees' safety....

105. NPL crisis highlights tug of war between borrowers and legislation

The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...

106. Cyprus Parliament rejects bills on borrowers' rights

The Cyprus Parliament voted against two non-government bills regarding borrowers' rights on Thursday, disregarding warnings from the government and the Central Bank about potential threats to the stability of the financial sector....

107. 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. ...

108. Cyprus gov't to pay €345,000 to Turkish Cypriot for illegal use of property

The big news: "Compensation of €345,000 will be paid to a T/C of American origin by the Republic of Cyprus, while also returning his property in Limassol, which was being used illegally....

109. 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....

110. 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. ...

111. Nicosia to appoint sanctions czar

The Cabinet on Wednesday decided on a series of measures and actions for the coordination on issues related to sanctions, Government Spokesperson Constantinos Letymbiotis announced...

112. Cabinet pulls plug on fuel subsidies

Temporary fuel state subsidies are set to expire before the weekend in the Republic of Cyprus, after the finance minister announced an extension could not be justified...

113. Hellenic Bank rakes in €69.7 million in profits during Q1 of 2023

Hellenic Bank has reported a profit of €69.7 million for the first quarter of 2023, signaling a strong start to the year. ...

114. 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....

115. Cypriot authorities take action against exploitative practices by foreign workers

The long-standing issue of domestic helpers and third-country workers taking advantage of Cypriot employers and authorities through deceitful tactics, with the aim of migrating to other European countries, has prompted the relevant departments of the Republic to implement stringent measures....

116. US hails Cyprus for its efforts in combating human trafficking

The Government of the Republic of Cyprus has been recognized for its serious and sustained efforts in combating human trafficking, according to the annual report released by the U.S. State Department. ...

117. $280B lost in fraud and mismanagement of US Covid relief aid

A recent investigation conducted by the Associated Press has exposed a rampant wave of fraud and mismanagement in the distribution of federal COVID-19 relief aid in the United States....

118. Groundbreaking court to tackle first home foreclosures

The groundwork for the establishment of a specialized jurisdiction court, which will exclusively handle issues related to the foreclosure of primary residences, will be laid on Thursday....

119. Cyprus takes a stand for solidarity in EU immigration reform

Minister of Interior Konstantinos Ioannou announced on Friday that Cyprus views the establishment of a mandatory solidarity mechanism as a significant development for the country....

120. Massive cash haul uncovered at Paphos airport

In a joint operation between the Customs Department and the YKAN (Financial Intelligence Unit), a startling discovery was made at Paphos Airport on Thursday night, 8th June 2023....