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241. Ireland's tax policies fill sovereign fund coffers

Countries like Saudi Arabia, Norway, and Chile have long established their own sovereign-wealth funds....

242. France urges de-escalation amid Israeli strikes on Lebanon

The ongoing conflict between Israel and Hamas has drawn global attention as the death toll rises, with over 1,000 Palestinians and 1,200 Israelis reported dead. Calls for peace have intensified amid the escalating violence....

243. How blockchain technology is reshaping financing

In this age of technology, digital transformation, and the omnipresence of the internet, alternative digital financing is emerging as an innovative and effective solution for both businesses and individuals in need of financial support....

244. Moody's double upgrade ignites investor interest

Last Friday, Moody's delivered a double upgrade for Cyprus, propelling the nation into the investment-grade category recognized by all four major financial firms. Although these rankings may appear modest, their real-world impact is substantial....

245. 15.4% spike in public expenditure for 2024

In the 2024 Budget, there's a notable rise of EUR 0.5 billion in public personnel expenditure. According to the Council of Ministers' approved budget table for 2024, this marks a substantial increase of 496 million euros. In terms of percentages, this surge amounts to 15.4% compared to the personnel expenditure allocated for the public sector in 2023....

246. CBC Governor Herodotou reveals breakthrough in digital finance

The Central Bank of Cyprus has completed the tender for a new digital platform for customer compliance, said CBC Governor Constantinos Herodotou, speaking at an event organized by the Association of Cyprus Electronic Money and Payment Institutions, on Thursday afternoon....

247. Bank of Cyprus woos investors at London conference

Last week, the Bank of Cyprus launched a series of engagements with investors, with a particular focus on attracting new stakeholders. This initiative took place during the BofA Merrill Lynch conference, notably at the Annual Financials CEO Conference held in London from last Tuesday to Thursday. ...

248. Sepaga EMI named one of the top 20 great places to work in Europe

Nicosia, Cyprus – 26/9/2023 – Sepaga EMI, a leading fully licensed and regulated Electronic Money Institution by the Central Bank of Cyprus (License No. 115.1.3.18/2018) since 2017 takes pride in providing its clients with exceptional financial solutions for managing their funds and global payments....

249. First Lady's assistant denied extra pay

A majority of the members of the Parliamentary Finance Committee approved the release of funds requested by the Presidency for salary payments, but the Committee unanimously rejected a separate request concerning overtime compensation for an employee temporarily assigned to the Presidency....

250. Cyprus' 'Photovoltaics for All' cuts electricity costs by 50%

In a bold move to expedite the transition to green energy, the Ministry of Energy is gearing up to unveil a groundbreaking solar energy production initiative that promises to reshape the balance between conventional and green energy sources....

251. €369 million EIB loan for smart investments

The government has secured a €369 million loan from the European Investment Bank (EIB) with favorable terms to support expenditures and investments within the framework of the "Thalia" program. ...

252. 153 government employees face overtime probe

After the issue of overtime pay arose with Deputy Government Spokesperson Doxa Komodromou, all Presidential staff will come under the scrutiny of the Audit Service, including relatives and friends of the presidential couple, as reported by Philenews. ...

253. Consulco’s London Credit Fund; Existing & New Investment Opportunities

254. Global investment giants converge in Cyprus for IIFA 2023

The 36th annual international conference of the International Investment Funds Association (IIFA), will take place in Cyprus, for the first time, on October 23-25. ...

255. US plane brings captives back home

The plane carrying five American citizens freed as part of a deal between the U.S. and Iran have now landed back home in the United States....

256. How University of Cyprus handles overtime pay

The University of Cyprus, led by its rector, Tassos Christofides, acknowledged that overtime was paid to Doxa Komodromou....

257. Italy's cry for help: Facing a migrant surge amid EU discord

Italian Prime Minister Giorgia Meloni has appealed for greater European support as her country confronts a surge of people fleeing north Africa, amid growing tensions between Rome and other EU capitals over migration policy....

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

259. Request for 200,000 euros in overtime pay for state officials withdrawn

Irene Piki, the Deputy Minister to the President, has announced the withdrawal of a request for more than 200 thousand euros in funds to cover overtime pay for state officials working at the Presidential Office. She revealed this on state radio's Morning Routes program, specifying that the request was related to one specific person....

260. Is Cyprus banking sector heading for a shake-up?

The Cypriot banking sector is in trouble, and it looks like Eurobank is on the verge of acquiring Hellenic Bank. Meanwhile, Astrobank and CDB Bank's relationship has shifted from a "flirtation" to an "appointment."...

261. Recovery and Resilience measures target non-performing loans

In a move to address Non-Performing Loans (NPLs) and maximize European funds, Minister of Finance, Makis Keravnos, announced the approval of an action plan under the Recovery and Resilience Plan. ...

262. Consulco: London Credit Fund’s new investment opportunity secured against UK commercial properties

The London Credit Fund New Compartment offers even higher returns to investors....

263. Wargaming to divest 6.8% stake in Hellenic Bank to Eurobank for €65.9 million

Wargaming has announced its decision to sell its remaining stake of 6.8% (28,023,767 shares) in Hellenic Bank to Eurobank. ...

264. Former Finance Minister continues to question EuroAsia project

Former Finance Minister Constantinos Petrides has returned to the issue of the Eurasia Interconnector, expressing concerns and raising important questions. In a post on the "X" platform, he highlighted the need for transparency and clarity surrounding this significant and costly project....

265. Where does the 12% tax revenue go?

The Turkish Cypriot press is discussing recent land sales in the occupied area today. According to the Press and Information Office, the "Güneş" newspaper reported that Hasan Sungur, who leads the Real Estate Agents Union, supports businessman Ali Osman Safa's warning to politicians. Safa cautioned against making the property crisis worse, and Sungur agrees that this warning is valid and reasonable....

266. 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,...

267. 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....

268. Towns chase transformative cultural thrones

Larnaca, Limassol, and Nicosia have begun working towards the title of the European Capital of Culture for 2030, and it seems that the municipalities of Ypsonas and Ayia Napa also want to join this effort....

269. EuroAsia interconnector seeks alternative funding

The developer of the EuroAsia Interconnector is seeking alternative funding avenues to construct Cyprus' electricity interconnection with the European Union, following the European Investment Bank's rejection of a loan request. ...

270. Cypriot national injured in billion-dollar money laundering sweep

Singapore law enforcement authorities disclosed on Thursday that a Cypriot national sustained injuries while attempting to evade capture by leaping from a second-floor balcony within an affluent district, marking one of the most significant money laundering cases to date. ...