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331. K. Treppides & Co Ltd: Renewed European finance strategy and implementation of the action plan on financing sustainable growth

The European Commission adopted on 21 April 2021, a comprehensive package of measures to help improve the flow of money towards financing the transition to a sustainable economy, whereas these measures will be instrumental in reaching climate and environmental targets as well as vital for economic recovery from the COVID-19 pandemic. ...

332. EY reports global revenues of US$40b in 2021 and outlines record US$10b investment plan over next three years

EY announces combined global revenues of US$40b for the financial year ended June 2021 (FY21), an increase of 7.3%, a solid result given the global economic impact caused by the COVID-19 pandemic. ...

333. House approves overhaul in Cyprus’ power grid

The Cyprus Transmission System Operator is calling on people and companies who wish to take part in the electricity market to register for training seminars, following the passage of legislation that aims to put an end to state monopoly after years of debate and EU warnings...

334. Southern European banks set for climate hit

Banks in southern Europe are set to be among the hardest hit if climate change is not mitigated as their clients are most exposed to natural hazards such as wildfires,...

335. Cyprus’ spy van case too close to the bone

A police investigation in Cyprus has concluded there was no proof of illegal phone tapping in the spy van case, but prosecutors are still going after the main suspects on lesser charges despite reports of alleged contacts in the past with local officials...

336. Limassol crypto provider says imposter stole 35 million

A Cypriot resident who owns a blockchain service provider says his company was targeted by cyber criminals who managed to steal tens of millions in cryptocurrency simply by sending a message on a popular social app...

337. International Luxury Property and Residency Conference

338. Cyprus’ passport committee issues final report

Over half of the golden passports approved by the President’s Cabinet in the Republic of Cyprus were illegal, a special committee has found, and it is now up to the attorney general to ascertain whether any ministers may have had fraudulent intent...

339. G7 agree on plan targeting tax heavens

The G7 reached a landmark deal on Saturday to pursue higher global tax rates on multinational businesses but the measures need broader support including an EU resolution, with retractors including Cyprus where Amazon recently registered a company...

340. Legal battle heats up in golden passports

The top two chief law enforcers in the Republic of Cyprus are taking the parliament to court over a resolution, in which members called on the two officials to recuse themselves in the golden passport probe after raising conflict of interest issues...

341. Cabinet split as measures gain on lockdown

The Cabinet is set to announce later on Friday a new set of measures to curb the COVID-19 spread in the community, as daily cases continue to rise with a situation in hospitals extremely alarming...

342. Cyprus hurries to clean up company registry

Energy Minister Natasa Pilides has called on business stakeholders in Cyprus to embrace a new effort of recording and updating true information about beneficiaries of companies, saying a new digital registry can bolster transparency on the island...

343. Cyprus Mines insolvency deal under scrutiny in US

Cyprus Mines Corporation which filed for bankruptcy in the United States following hundreds of asbestos lawsuits has rejected accusations that a committee representing claimants was acting in bad faith, but lawyers representing victims are calling on a judge to rework a deal under intense scrutiny...

344. EY Cyprus participated in the 4thCyprus International Tax Conference

EY Cyprus has once again supported and participated in the 4thCyprus International Tax Conference, on Tuesday March 30th....

345. Police probe suspicious rapid test invoices

Police are investigating allegations of fraud after suspicions emerged that a private company was claiming payments for rapid tests that never took place...

346. Cyprus-Israel gas dispute deferred to firms

Israel and Cyprus have reached an understanding over gas reserves straddling their maritime border, the Cypriot energy minister said on Tuesday, in a key step towards resolving a nine-year impasse over offshore spoils...

347. Vaccinations 'main economic tool' in managing Covid crisis

Vaccinations have turned into the main economic tool for the management of the coronavirus crisis and the prospects for recovery, Minister of Finance Constantinos Petrides said, stating that he foresees a strong recovery in 2021 ranging from 3.5% to 4.5% of GDP, depending on the development of the pandemic....

348. 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...

349. KPMG unveils Impact Plan: shares progress against newly created Stakeholder Capitalism Metrics

KPMG has recently published its first global environmental, social and governance (ESG) plan. KPMG Impact Plan brings together new and existing ESG commitments under one umbrella, focusing on four important categories: Planet, People, Prosperity and Governance...

350. 15 law firms being audited for involvement in 'golden passports'

Interesting new details on the involvement of law firms in the island’s disgraced citizenship-by-investment programme were presented before the Investigative Committee by the head of the Cyprus Bar Association, Christos Clerides....

351. 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...

352. Smoothening the cliff edge in EU-UK relations

The Trade and Cooperation Agreement (TCA) between the United Kingdom and the European Union came into effect on January 1, 2021, capping a tumultuous four-and-a-half-year period since the shocking result of the July 2016 Brexit referendum, in which 51.9% of the British voters voted in favor of leaving the EU. Subject to the delayed assent of the European Parliament, this UK-EU free trade agreement (FTA) extends zero-tariff and quota-free trade in goods between the two economic areas....

353. SMS system returns as Cyprus enters three-week lockdown

Cyprus Health Minister Constantinos Ioannou announced the new restrictions agreed upon by the Cabinet on Friday, which include a clampdown on unnecessary movements, and social and professional gatherings....

354. EU to buy extra 100 mln doses of Pfizer/BioNtech vaccine

The European Union will buy an extra 100 million doses of Pfizer and BioNTech's Covid-19 vaccine, bringing the total from the two firms to 300 million doses, European Commission President Ursula von der Leyen said on Tuesday....

355. Report says ministry was shuffling papers

An initial redacted report on golden passports made public in the Republic of Cyprus on Tuesday painted a picture of an Interior Ministry serving as a “filing office” without ability to examine cases in any meaningful way, with opposition crying foul over the committees’ selective method...

356. Report on passport scheme to be released, President says

President Anastasiades said the report of the investigative committee spearheaded by Securities and Exchange Commissioner Demetra Kalorigou on the island’s disgraced citizenship-by-investment program will be released next Tuesday....

357. EY Cyprus sponsors 3rd Anti-Fraud Conference

EY Cyprus has, once again, sponsored and participated in the 3rd Cyprus Anti-Fraud Conference, which was organised by IMH and the Cyprus Chapter of the Association of Certified Fraud Examiners (ACFE). The event was held online on Tuesday 15th December...

358. Golden passport findings hard to come by

The president of the Cyprus Bar Association says he has received adequate information from the audit office in connection with golden passports, adding that other agencies and officials have refused to share their findings citing direct orders from the interior minister...

359. KPMG survey shows biodiversity-related risk remains under-reported

While it is notable that 80% of the world’s 250 largest companies now report on sustainability, biodiversity-related risk remains significantly under-reported by the global business community...

360. Cypriot police scolded again over spy van

The Supreme Court in the Republic of Cyprus has recalled an arrest warrant for Avraham Shahak Avni, a Jewish community leader who is implicated in the spy van probe, ruling that police had no reasonable basis to detain a man who had been otherwise cooperating with authorities from the get-go...