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1. 900 tourists in Cyprus affected by FTI Group bankruptcy

Around 900 tourists who purchased travel packages from the German-based FTI Group, which has recently filed for bankruptcy, are currently in Cyprus, Deputy Minister of Tourism Kostas Koumis said Tuesday....

2. European elections add twist to Cyprus polls

On June 9, Cyprus goes to the polls in the most complicated elections in its history as the European elections and the local government elections are held in parallel, following the reform passed by the Parliament....

3. 800 divorces annually, 35,000 single parents, and outdated benefits

The Human Rights Committee of the Parliament convened today, shedding light on critical issues affecting single-parent families in Cyprus....

4.  President Christodoulidis announces Cabinet reshuffle

President Nikos Christodoulidis has announced a series of government appointments, effective Wednesday, January 10, 2023. The changes, made under constitutional authority, include:...

5. Michael Kyprianou & Co LLC receives Cyprus Firm of the Year Legal Award at Who’s Who Legal Awards 2023

Michael Kyprianou & Co LLC has been awarded the Cyprus Firm of the Year Award by Who’s Who Legal (WWL). ...

6. Michael Kyprianou & Co scoops prestigious Cyprus firm of the year

Michael Kyprianou & Co LLC has been awarded the Cyprus Firm of the Year Award by Who’s Who Legal (WWL). ...

7. Government to expand workforce in 2024

In the 2024 budget, authorities anticipate total general government revenue of €13.2 billion and expenditures of €11.8 billion, resulting in a fiscal surplus of €659 million, equal to 2.2% of GDP. ...

8. ECB keeps watchful eye on non-performing loans

The European Central Bank (ECB) is closely monitoring non-performing loans (NPLs) and related legislation, including the divestment framework. ...

9. 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. ...

10. Parliament approves foreclosure law

A significant mobilization by the Government and the Central Bank of Cyprus took place this week regarding the framework of foreclosures, primarily to withdraw the "problematic" proposal that, according to the state and banks, would have negative consequences for the Cypriot economy....

11. Experts to take charge of high-profile corruption cases

The Anti-Corruption Authority has initiated investigations and assessments of the complaints it has received....

12. FinMin stresses importance of stable legislation for out-of-court auctions

The Finance Ministry has stressed the importance of having stable legislation regulating out-of-court auctions, in tandem with an effective insolvency framework in order to achieve a reduction of bad loans....

13. HSBC buys failed Silicon Valley Bank in bid to stem fallout

Governments in the UK and the U.S. took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down....

14. The who's who of the Christodoulides government

On Monday afternoon (27/02), Nikos Christodoulides, the country's new leader, unveiled his new administration. Read the detailed biographies of the individuals who make up the new government....

15. Cyprus regulator to suspend FTX's license

FTX's European Union license in Cyprus could be suspended in yet another blow to Sam Bankman-Fried's crypto exchange, according to Bloomberg....

16. Finance Minister calls for the repeal of foreclosure suspension

The Ministry of Finance proposes delaying the law on divestiture suspension. ...

17. Wim Van Aken talks recession and the predictions for Cyprus

We are facing a double shock. First, we had the Covid-19 shock and now the global and European economies are facing a new shock with the war in Ukraine. Both events are unprecedented for many of us....

18. The future of the banking sector is digital, green and social

The future of the banking sector is digital, green and social, said the participants at the 3rd online FMW Conference, titled "Banking System: New Challenges and Opportunities". The Conference also highlighted the contrast between trying to tame inflation by raising interest rates and supporting vulnerable groups to avoid social unrest....

19. KPMG Limited and Georgiou, Iacovou & Co LLC announce the admission of the law firm Georgiou, Iacovou & Co LLC to the KPMG global network of member firms

KPMG Limited and Georgiou, Iacovou & Co LLC wish to announce the admission of the law firm Georgiou, Iacovou & Co LLC to the KPMG global network of member firms, as of 1 August 2022. The law firm will operate in the jurisdiction of Cyprus under the KPMG Law brand. ...

20. K. Treppides & Co Ltd: Benefits in Kind

There are a number of commercial benefits that come with registering the property in the name of a legal entity rather than as an individual e.g. for asset protection purposes as it provides protection against personal insolvency since a property that is in the name of a legal entity should not be affected should the individual becomes personally insolvent....

21. Boris Becker faces jail term for failing to declare his millions

Three-time Wimbledon champion Boris Becker could be sent to jail today as he faces a sentence for flouting the terms of his 2017 bankruptcy....

22. Debt sustainability in all Member States

ESM Managing Director Klaus Regling strongly believes that public debt is currently sustainable in all Member States of the monetary union. ...

23. ECB tells Cyprus lawmakers to get it right

Elizabeth McCaul, Member of the Supervisory Board of the ECB, advised caution over possible amendments to the Cyprus foreclosure law stressing that 'such policies can also backfire and destabilize the banking sector if designed in a haphazard manner'...

24. IMF: Withdrawal of support measures should be gradual

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities from March 8–29, 2021 to discuss recent economic developments and policy priorities on the island. In an interview with Kathimerini Cyprus, IMF mission chief for Cyprus, Anita Tuladhar, said the longer the recovery period in sectors related to tourism, the greater the chance that permanent scars will remain in the economy of Cyprus. Tuladhar also noted the importance of state-sponsored programs to support the economy....

25. 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...

26. EU governments risk clash with EU exec in bid to save tourism season

European Union governments risk a clash with the EU executive arm over their support for travel firms issuing vouchers for cancelled holiday deals without giving customers the option of cash refunds as required by EU law, diplomats said....

27. CITR Cyprus calls for modern insolvency rules

28. Cyprus 'one of the success stories of ESM'

29. Baker Tilly Annual Restructuring Summit

Baker Tilly Cyprus held its first annual restructuring summit at the Hilton Park Hotel in Nicosia, drawing on the expertise of banking professionals, company directors and restructuring specialists...

30. Germania airline files for bankruptcy, halts flights