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241. Cyprus irked over mystery casino probe

The Republic of Cyprus is asking the European Anti-Fraud Office for more information into a probe of misuse funds, following reports that stolen EU money was pumped into a casino project on the island...

242. Coronavirus derails southern Europe's clean-up from the last crisis

This year was meant to mark a turning point for Greek and Italian banks as they finally laid the ghosts of the financial crisis to rest. Then the coronavirus struck....

243. Economic sentiment deteriorates in March reflecting COVID-19 pandemic initial impact

244. EU to launch €37bn coronavirus investment initiative

The European Union will launch a 37 billion euro investment initiative as part of a package of measures to cushion the bloc’s economies from the impact of coronavirus, European Commission President Ursula von der Leyen said on Friday....

245. Mixed reviews on anti-money laundering

A US State Department anti-money laundering report on Cyprus includes fewer negative references but still points to vulnerabilities in the island’s financial services and gaming sectors...

246. Economic sentiment in Cyprus falls in February due to weaker business confidence in services

In February 2020, economic sentiment in Cyprus deteriorated as the Economic Sentiment Indicator (ESI-CypERC) decreased by 0.7 points compared with January 2020....

247. Turkish clothes makers see orders shifting from coronavirus-hit China

Several fashion retailers that manufacture clothing in coronavirus-hit China are in talks with Turkish firms about shifting production to Turkey, two sector officials told Reuters, with one predicting new orders worth up to $2 billion....

248. Shift in global funding led by private capital

Private equity firms now manage commitments of nearly US$3.4t globally, up from less than US$500b in 2000, and in a significant shift new capital from private markets has surpassed for capital raised in public markets for the first time ever...

249. Insurers need profound transformation and the right talent

As insurance industry growth remains stagnant for another year due to low interest rates, the shifts in consumer demographics around the world coupled with heightened expectations for digital experiences present insurers with risks and opportunities...

250. Turkish hackers target Cyprus government emails

Sweeping cyberattacks targeting governments and other organizations in Europe and the Middle East are believed to be the work of hackers acting in the interests of the Turkish government, three senior Western security officials said. The hackers have attacked at least 30 organizations, including government ministries, embassies and security services as well as companies and other groups, according to a Reuters review of public internet records. Victims have included Cypriot and Greek government email services and the Iraqi government’s national security advisor, the records show. ...

251. Nicosia’s Yazuz suspicions point to online leak

Cypriot officials at the Department of Environment say an entire study, which was inadvertently posted online in 2017, might have given Ankara a leg-up in the search for gas off the coast of Limassol...

252. Nicosia suspicious over Yavuz drilling spots

The government of the Republic of Cyprus believes Turkey has obtained privileged drilling information regarding an area off the southern coast of the island...

253. Digital transformation of health services is indispensable

254. Attorney general okays spy van warrants

The CEO of WiSpear says he is open to talking to Cypriot police, while investigators insist on reeling him in after the attorney general reportedly gave the okay for the arrest warrants of three Israeli nationals in the spy van case...

255. USA sanctions Cypriot firms for arms deals

Three Cypriot companies linked to a Serbian arms dealer are among foreign entities in the latest sanctions imposed by the US Department of the Treasury...

256. Three international firms to perform due diligence checks for people granted citizenship before 2018

Cyprus Interior Minister Constantinos Petrides has told the Cyprus News Agency (CNA) that the Interior Ministry will proceed, in cooperation with three international specialized firms, to due diligence checks for the cases of people granted Cypriot citizenship before 2018, when stricter checks entered into force....

257. MAP S.Platis joins forces with global firm FTI Consulting

258. Greek golden visa system in a bind

Greece’s Golden Visa program, offering five-year residence permits to non-European Union citizens who invest at least 250,000 euros in local property, appears to have become a victim of its own success...

259. 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...

260. Pompeo opts for diplomacy over Cyprus EEZ

The new defense deal signed between Athens and Washington will contribute to Greece’s security, US Secretary of State Mike Pompeo told Kathimerini in a recent interview, while staying firm on diplomatic efforts regarding Cyprus' EEZ...

261. US Embargo on Turkish drilling in East Med

Turkish opposition newspaper Cumhuriyet reported yesterday on the reasons for the departure of the drillship Yavuz from Karpasia and the expected departure of Fatih currently off the coast of Paphos. It confirms the difficulties faced by the two Turkish drilling rigs that are related to the reluctance of major firms to cooperate with Turkey in the supply of materials for research and extraction of hydrocarbons. ...

262. 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....

263. Tangible rewards for alliance-building

Greece's military spending has shrunk dramatically as a result of the crisis, widening the defense gap with Turkey. Successive Greek governments have spent billions on armaments over the past few decades, yet there is very little to show for it in terms of a defense industry. After an ambitious start, state-owned firms such as the Hellenic Aerospace Industry (EAV) and others were gradually choked by mismanagement from political parties and unionism...

264. Trump hits China with more tariffs, sharply escalating trade dispute

U.S. President Donald Trump vowed to impose a 10% tariff on $300 billion of Chinese imports from Sept. 1, sharply escalating a bruising trade war between the world’s largest economies and jolting financial markets. ...

265. Firms including MOL, Osaka, Gaslog, chosen in Cyprus FSRU LNG tender

Three joint ventures have been selected by Cyprus in the first stage of a tender to provide a floating storage and regasification unit (FSRU) to import liquefied natural gas (LNG)...

266. Cyprus parliament suspends foreclosures

The House of Representatives voted in its last plenary before summer recess an amendment to the foreclosure law that foresees a freeze in foreclosures and suspension for loans eligible for the ESTIA loan relief plan...

267. No preliminary agreement on EU sanctions on Turkey

According to a diplomatic source that informed the press in Brussels the discussion on EU sanctions against Turkey will continue Thursday afternoon, as today there was no agreement...

268. Cyprus takes legal action against firms encroaching its exclusive economic zone

Cyprus has initiated legal proceedings against three companies involved in gas drilling by Turkey to the west of the island for encroaching on the island’s continental shelf, a senior foreign ministry official said on Tuesday...

269. Banks in Britain revive preparations for no-deal Brexit

Banks in Britain are showing signs of restarting preparations for a no-deal Brexit after a lull in the shift of financial services jobs and capital from Britain to the European Union in the past few months, consultants EY said on Wednesday...

270. Warnings over new foreclosure legislation

A total of five bills concerning a new foreclosure legislation are expected to be discussed on Thursday at a meeting of the House of Representatives Finance Committee...