Search

511. Cyprus 'golden passports' under more scrutiny

A foreign investigative report says leaked documents from the Republic of Cyprus suggest the island’s government violated its own rules in granting “golden passport” citizenships, with Cypriot officials denying the accusations and raising credibility issues over the report...

512. Cyprus 'golden passports' get popular amid pandemic

The Republic of Cyprus’ investment-for-citizenship program proved to be the second most popular scheme of the sorts amid the global pandemic, with new citizenship applications during the first quarter of 2020 marking a 75% increase compared to the same period last year....

513. Nicosia midtown center in the works

A new modern business centre on the most popular main street in Nicosia is said to be in the pipeline, following reports that the Bank of Cyprus has sold a parking lot in the midtown area...

514. A grim five years for Greek tourism

Greece may not repeat the tourism arrivals and revenues record of 2019 before 2025, according to an Ernst & Young report on the effects of the pandemic on Greek tourism, heralding a five-year crisis for the sector. This year alone the local industry is set to lose about 10 billion euros, it said....

515. Cyprus the highest climber in IMD 2020 World Competitiveness Ranking

Cyprus was the highest climber in the 2020 IMD World Competitiveness Rankings, marking an improvement in all four categories that make up the overall ranking....

516. Cyprus gets tough on golden passports

A House emergency bill that could allow authorities to revoke dozens of Republic of Cyprus “golden passports” is said to eliminate grey areas that so far prevented the state from revoking ill-gotten investor citizenships...

517. New chapter in store for old Orphanides mall

The Bank of Cyprus is reportedly sounding out the government on a potential mega deal in west Nicosia, with ideas thrown around for the old Orphanides Mall to become a business centre or a medical facility...

518. Hellenic Bank sells its most expensive home

Hellenic Bank has sold its most expensive home according to a special report, with foreign investors shelling out 3 million for a mansion in Lakatamia...

519. Lagarde draws line on how far ECB largesse can go

European Central Bank President Christine Lagarde drew the line on how far the ECB could go in helping virus-stricken eurozone countries on Wednesday, saying lending to governments directly would be illegal and handing out cash to citizens difficult....

520. 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....

521. Corporate Social Responsibility and Corporates’ response to COVID19

The long-term debate over CSR is concerned with whose interests should be attended to, shareholders or stakeholders, and this is actually the debate of the two competing theories over the purpose of the modern business firm...

522. The era of asymmetric threats

Kyriakos Mitsotakis would never have expected to star in a Greek edition of the perfect storm. Yet fate and events have put the Greek prime minister in charge of the country at a very crucial moment. He has shown determination in dealing with the migration/refugee issue, which has also bolstered his political image. The public was craving for a strong leader – a notion that was largely eclipsed by a sense of humiliation over the past 10 years....

523. 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...

524. Cyprus repays an IMF loan early, saving €13.4 million

The Republic of Cyprus fully repaid on Thursday an International Monetary Fund (IMF) loan, which had been granted to the country in the period 2013-2016....

525. InvestCyprus creates specialized unit to help achieve 2030 tourist targets

InvestCyprus, the island’s organization responsible for attracting foreign direct investment, announced the creation of a specialized unit in a bid to facilitate efforts to achieve Cyprus’ National Tourist Strategy for 2030, which aims at attracting 5 million tourists by 2030....

526. Jho Low reportedly spotted in Wuhan

Malaysian fugitive financier Jho Low, whose Cypriot passport came under scrutiny last year, has been spotted in China’s Wuhan, a city under lockdown due to the Coronavirus...

527. New Life in Cyprus of Russian Businessman after unfair seizure of Promsvyazbank

In 2017 Dmitry Ananiev was at the peak of his success. He and his brother Alexei owned a bank, an IT firm and an office complex overlooking the Moscow River. ...

528. President says use of Saudi-businessman owned jet not a violation of Ethics Code

President Nicos Anastasiades acknowledged on Thursday that he could have avoided using a private jet belonging to a Saudi businessman for a family holiday in the Seychelles, but denied that he was in violation of the Ethics Code....

529. Israeli investment announced for Larnaca port

Transport Minister Yiannis Karousos hinted at a deal with Israeli investors, saying they are ready to throw 1 billion at Larnaca’s port project...

530. Cyprus 'golden passports' scheme a laundering risk, says watchdog

A European money laundering watchdog has cautioned that a secretive investment-for-passports programme run by Cyprus was vulnerable to money laundering and fraught with risk...

531. Cyprus' plan to strip citizenship stalls in legal vacuum

A legal technicality has led Cyprus to temporarily halt a process to strip citizenship from 26 individuals who benefitted from a secretive passports-for-investment scheme, lawmakers said on Monday....

532. Emerging tech can bolster Sustainable Development Goals

Two-thirds of the 169 targets underpinning the global Sustainable Development Goals could be bolstered by technological innovation according to a new study by the World Economic Forum and PwC...

533. Football and Money Laundering

It has been identified years back at European and global level, that sports and especially football is being used by criminals to launder dirty money and derive illegal income...

534. 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...

535. Flamingo deaths raise alarm in Cyprus

Over a dozen flamingos were found dead at Aliki salt lake in Larnaca, with officials playing down the incident while members of the Green party are calling for an investigation...

536. Digital transformation of health services is indispensable

537. Berengaria sees hope on the horizon

Local media reported on Thursday that investors have been found for a potential revival of the historic Berengaria, with rumours pointing to renovation plans for the abandoned property in the Troodos Mountains...

538. Renewable power is only part of the solution to meet net-zero targets

539. Low denies central role in 1MDB scandal

Malaysian fugitive financier Jho Low, whose Cypriot passport came under scrutiny last year, says he was not the mastermind of the 1MDB scandal while confirming rumours he was offered asylum in an unnamed country...

540. Three locals arrested in spy van case

Cypriot police have arrested three individuals in connection with an investigation into the controversial “spy van” owned by an Israeli company registered on the island...