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1411. Shadows loom over government’s ‘clean exit’ scenario

Greece’s bailout exit has been eliciting condescending and bitter commentary on the country’s beaches and in its near-deserted cities, as few Greeks believes their lives are going to improve or that the country’s prospects will be akin to those of other bailed-out eurozone states. Greece’s “return to normalcy” and “clean exit,” much touted by the government, appear to be happening somewhere else....

1412. Stephen Lillie: There is only plan A for Cyprus

There is a clear plan A for Cyprus, that of a bi-zonal, bi-communal federation solution, and there is no plan B, UK High Commissioner in Nicosia, Stephen Lillie, has told the Cyprus News Agency (CNA), stressing that “for plan A to succeed the negotiations need to be well prepared, and the public opinion needs to be well prepared” as well....

1413. Men sentenced for assaulting billionaire investor

The Famagusta District Court handed down sentences to four men in connection with the beating of Egyptian investor Naguib Sawiris, hours before the stone laying ceremony for the Ayia Napa marina back in 2016...

1414. Manafort lawyer blames Cyprus accounts on oligarchs

Prosecutors described Paul Manafort as a “shrewd” liar and accused him of misleading his tax preparers, banks, and US authorities in claiming that secret accounts did not exist...

1415. Cyprus Tax Webcast July 2018

Watch the new Deloitte Tax Webcast for July 2018 presented by Mr. Pieris Markou, Deloitte Tax & Legal Services Leader...

1416. Search continues as wildfires death toll climbs to 80

Rescue crews Wednesday continued to search the seaside areas northeast of Athens that were the worst affected by wildfires to locate any further victims, as the official death toll rose to 80...

1417. Investing in knowledge

A growth rate of 1.9 percent is way too small for a country like Greece, especially as the rest of Europe’s performance is so much more robust. This is, after all, a country that shed 25 percent of its gross domestic product (GDP) in the course of a decade. What we should be seeing, therefore, is the effect of a tightly wound spring, whereby a virtuous cycle of growth begins and only gets faster with time. Instead, we’re hobbling along at 1.9 percent, the slowest rate an economy can achieve after hitting rock bottom....

1418. NETFLIX is king

The complete list of nominees for the best in television released for the 70th annual Primetime Emmy Awards reflects the new age of entertainment by streaming...

1419. Monaco Telecom takes over MTN Cyprus

Monaco Telecom is taking over MTN Cyprus in a €260 million deal that will set a new course for the Cypriot provider as a powerful member of its new European family...

1420. Cyprus wants to rein in ‘passport-selling’ agencies

The Cyprus government has issued strict guidelines aimed at curbing the overt promotion of passports, censuring agencies that explicitly try to lure rich foreign nationals for enrollment in the citizenship-by-investment programme...

1421. Holiday Inn Nicosia under new ownership

Holiday Inn Nicosia is coming under new ownership, after Greek company NBG Pangaea shelled out two thirds of the total price of €11.2 million...

1422. Tsipras in UK in bid to promote Greek role in Balkans, seek investors

Prime Minister Alexis Tsipras is in London on Monday for a three-day visit during which he is scheduled to meet with his counterpart, Theresa May, and the head of the Labour Party, Jeremy Corbyn, while attempting to present Greece as a significant player in the Balkans and investigate investment interest....

1423. Conference on Funds & Cryptocurrencies, a success

A half day Conference with the subject of “Funds & Cryptocurrencies: The Development and the Technology” was successfully completed for a second consecutive year, on the 14th of June 2018 at the Four Seasons Hotel in Limassol...

1424. Funds & Cryptocurrencies: The Development and the Technology

For the second consecutive year, the Cyprus Chamber of Commerce and Industry, Cyprus-Russian Business Association and K. Treppides & Co Ltd are organizing a half day conference on the 14th of June 2018 at Four Seasons Hotel in Limassol, in an attempt to inform the investors and the Global Market about the Cyprus Fund’s market and the relationship that the Funds in Cyprus can have with the technology...

1425. Irish FM: We will support you in trying to find the way forward on the Cyprus issue

Tánaiste and Minister of Foreign Affairs and Trade of Ireland Simon Coveney said today that his country would support Cyprus “in any way that we can to try and find the way forward that I think everybody wants to see,” on the Cyprus Question....

1426. Cyprus and India stress need to strengthen bilateral business relations

Cyprus and India stressed the need to strengthen bilateral business cooperation....

1427. Passport scheme could bring ‘Dutch disease’ to Cyprus

The Fiscal Council is warning that the passports-for-cash scheme could mean that some sectors of the economy could suffer while others grow, a phenomenon known as the Dutch disease...

1428. Spanish police detain, then release Kremlin critic Browder

British businessman Bill Browder, a prominent Kremlin critic, was detained and then released by Spanish police on Wednesday, after a warrant for his arrest he said came from Russia was found to be no longer valid...

1429. Government and Co-op begin consultations with bidders

1430. ARIS joins forces with Taurus Aurum to supercharge the Cypriot startup entrepreneurship ecosystem

ARIS, an early-stage accelerator launched by the Bank of Cyprus and Deloitte earlier this year and Taurus Aurum Global Property Fund Limited, a multicompartamental private-owned self-managed Alternative Investment Fund headquartered in Nicosia, signed a Memorandum of Understanding (MOU) on the 24th of May 2018 in Nicosia...

1431. Cyprus tightens vetting for investment-for-passport scheme

In the wake of criticism that it was operating a "passports-for-cash" scheme, Cyprus has toughened up vetting procedures for those investors looking to get their hands on a European Union passport...

1432. Cyprus forecasts high GDP growth of 3% plus until 2021

High growth rates exceeding 3% of the GDP and high primary surpluses are projected until the year 2021 in the Strategic Fiscal Policy Framework (SFPF) 2019-2021, which was approved by the cabinet...

1433. Environmental study holding up casino resort

A potentially huge glitch has appeared just days ahead of the scheduled stone laying ceremony for the Cypriot casino resort, with an environmental impact assessment not yet in the clear and the company blaming the delay on British military interests...

1434. Ayia Napa mayor wants to bring the noise down

Ayia Napa mayor Yiannis Karousos, who has made a name for himself for trying to turn away ‘low-quality young tourists’ in his town, is asking for a noise pollution law to be repealed so that nightclubs could be fined for playing music too loud...

1435. Stone laying for Limassol's casino resort set for June

The stone laying ceremony for the Cypriot casino resort will take place in June, with temporary facilities ready to run in the summer ahead of the main attraction two years later...

1436. Co-op receives two bids in good bank, bad bank scenarios

The Cooperative Central Bank (CCB) announced on Monday it has received two bids as part of its privatisation process launched in March, with one bidder going after the ‘good bank’ scenario just as the European Commission approved the acquisition of Altamira Cyprus by a joint platform with CCB and one of the bidders...

1437. UK food prices likely to rise without a Brexit deal

Food prices are likely to rise after Brexit if no trade agreement with the EU is reached and there could be shortages of some products...

1438. All lights 'set on green' for end to Greek bailout

Greece’s exit from a bailout program instituted by the eurozone and International Monetary Fund looks set to proceed in August, Luxembourg finance minister Pierre Gramegna said on Friday...

1439. Bank of England keeps powder dry on rate rise

The Bank of England held interest rates and said weak growth during a snowy start to 2018 was likely to be only temporary, but it wanted to see a pick-up in the economy in the next few months before raising borrowing costs...

1440. EBRD more upbeat about Cyprus growth rate

The European Bank for Reconstruction and Development has revised significantly its projection for Cyprus’ economic growth rate this year, in the context of a wider upward revision of its forecasts for the EBRD regions...