Search

391. MPs approve publication of PEP bad loans list

Parliament on Thursday approved the publication of the list of politically exposed persons (PEP) with non-performing loans, known as the Yiorkadji list....

392. Policy priorities unaffected by pandemic, FinMin says

Despite the crisis of the Covid-19 pandemic Cyprus’ economic policies remain the same, targeting macroeconomic and financial stability, prudent fiscal policies, and establishing a competitive, business-friendly regulatory environment of high standards, Minister of Finance Constantinos Petrides said on Thursday....

393. Industrial/Logistics most attractive post COVID-19

Following the breakout of the COVID-19 pandemic, the Industrial/Logistics asset class has presently become the most attractive financing option for a majority of banks in Central & Eastern Europe, according to the results from the latest edition of KPMG’s Property Lending Barometer...

394. FinMin confirms Cyprus won’t reinstate ‘golden passports’ scheme

Finance minister Constantinos Petrides assured that the government will not be reinstating the Cyprus Investment Program (CIP), that was shut down after the shocking corruption revelations that emerged through an Al Jazeera investigation and the subsequent stark criticism by the European Commission. ...

395. Cat-and-mouse game with Turkey must stop, Michel says

A game of “cat-and-mouse” between the European Union and Turkey needs to come to an end, European Council President Charles Michel said on Friday, in reference to a dispute over natural gas resources in the Eastern Mediterranean....

396. Cyprus experiencing excessive macroeconomic imbalances

The European Commission said Wednesday that Cyprus continues to face excessive macroeconomic imbalances, particularly in view of the country’s very high percentage of non-performing loans that continue to plague the financial sector, but also in light of high private sector, government, and external debt....

397. Support schemes added to fight lockdown consequences

Alongside the tough restriction measures that came into effect on Thursday, additional support schemes were announced by the ministers of finance and labour in a bid to cushion the inevitable economic blow....

398. Fresh total lockdown out of the question for Cyprus govt

Finance minister Constantinos Petrides on Monday strongly refuted the possibility of Cyprus entering a second lockdown, such as the one it was plummeted into in March as a result of the outbreak of coronavirus....

399. Banks must prepare for a new cycle of NPLs due to Covid-19

Constantinos Herodotou, Governor of the Central Bank of Cyprus (CBC) told Cyprus commercial banks to prepare to face a new cycle of non-performing loans in 2021 due to the coronavirus pandemic....

400. KPMG Property Lending Barometer 2020

401. Apollo CEO investigated over Epstein ties

The CEO of Apollo Global Management, whose affiliates acquired billions of bad debt in Cyprus, is being investigated over alleged financial ties to Jeffrey Epstein...

402. 22.3% of Cyprus population at risk of poverty in 2019

The most recent European Statistics on Income and Living Conditions (EU-SILC) 2019 survey shows that 22.3% of the Cyprus population, that is 194,400 persons, are living in households that are at risk of poverty or social exclusion....

403. Male Cypriots urged to negotiate postponement of higher fees with UK universities

Male Cyprus high school graduates considering going on to a UK university but who must first complete a 14-month military service, by which time the UK is set to enforce its decision to scrap home fee status for EU students, are urged to directly contact their university of interest to negotiate a postponement of the fee increase, allowing them to enrol next under current fee status....

404. Cyprus to draw over €2.7b from EU pandemic recovery fund

European Union leaders reached a deal on a massive stimulus plan for their coronavirus-blighted economies at a pre-dawn meeting on Tuesday after a fractious summit that went through the night and into its fifth day....

405. EU summit breaks up after all-night talks, to resume later

A marathon European Union summit has broken up temporarily in the fourth day of acrimonious haggling over an unprecedented 1.85 trillion-euro ($2.1 trillion) EU budget and coronavirus recovery fund to tackle the crisis. The weary leaders were scheduled to resume the meeting Monday afternoon....

406. 522 Cyprus army recruits planning to study at UK universities

A total of 522 incoming army recruits have informed the Education Ministry that they are either candidates for or have secured a spot at a UK university for the 2020-21 academic year, but who plan to defer their offer until the following year, when home fee status and loans for EU students will be scrapped, due to their 14-month military service requirement....

407. Moody's: Payment holidays shield Cyprus banks in 2020, but deterioration likely in 2021

Around one third of Cyprus banks’ gross loans were deferred as a result of the coronavirus pandemic, the Moody’s rating agency said Monday, noting that while the payment holiday may shield local banks in 2020, asset quality deterioration is “still very likely next year.”...

408. Govt mulling over state guarantee scheme for Cyprus students in UK

Cyprus Ministers and MPs put their heads together on Wednesday to find ways of dealing with the UK’s decision to end home fee status for EU students from the 2021-22 academic year....

409. All set for implementation of new support measures, FinMin says

Finance minister Constantinos Petrides announced the launch of the implementation of three measures, under the government support program, to address the consequences of the coronavirus pandemic....

410. No progress among EU leaders on virus recovery deal

European Union leaders found that a quick deal on the bloc's future long-term budget and a multibillion-euro post-pandemic recovery plan remained beyond their reach Friday as the coronavirus ravages their economies....

411. Market sentiment looking up, FinMin says

Market sentiment is looking up, Finance Minister Constantinos Petrides said Tuesday after a broad meeting at the Presidential Palace between President Nicos Anastasiades and representatives of financial institutions....

412. Lawmakers to vote on budget for new support measures

The Finance Ministry will be seeking lawmakers’ green light for the supplementary budget of €220 million involving a string of measures to keep the economy afloat after the slowdown brought about by the coronavirus pandemic. ...

413. FinMin delves into details of 'new, more targeted measures'

Finance Minister Constantinos Petrides held a press conference on Thursday to delve into the details of the new bundle of economic support measures announced by President Nicos Anastasiades in a televised national address Wednesday night....

414. President unveils new stimulus package

President Nicos Anastasiades announced on Wednesday a new set of measures to support tourism, businesses, and the self-employed workers that took a hit in the coronavirus pandemic...

415. Repair and Prepare: EU unveils €750 bln plan for coronavirus recovery

The European Commission unveiled on Wednesday a plan to borrow on the market and then disburse to EU countries 750 billion euros in grants and loans to help them recover from their coronavirus slump, giving an immediate boost to the euro....

416. Cyprus to get €2.5 billion, EU Commission proposal says

The European Commission will propose on Wednesday that Cyprus gets €1.433 billion of the new recovery fund, and €2.52 billion in total....

417. Cabinet scraps bill for government loan guarantees

The Cabinet on Tuesday withdrew a bill that would allow the government to provide guarantees for loans to be given to businesses affected by the coronavirus pandemic....

418. Cabinet in tight spot talks measures

The President’s Cabinet is discussing the ease of measures ahead of a meeting later this week with health experts, amid reports there could be second thoughts among scientists...

419. The crisis is here and should not be underestimated, FinMin warns parties

As political parties continue to quarrel over a bill seeking to release government funds as guarantees for loans to businesses hit affected by the coronavirus outbreak, Cyprus Minister of Finance Constantinos Petrides warned that “the crisis is here and should not be underestimated.”...

420. 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...