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301. 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...

302. 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.”...

303. 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...

304. Cyprus outlines drastic step on migration

Republic of Cyprus Interior Minister Nikos Nouris is urgently seeking a constitutional amendment to shorten the time of due process for asylum applicants, calling a set of government-sponsored bills a “holistic approach” to immigration during a press conference on Thursday...

305. 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....

306. 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...

307. Government revising price cap on antiseptics, masks

The government announced on Monday that it was revising the price cap it placed last month on antiseptics and surgical masks, as growing international demand is constantly bringing price fluctuations resulting in local shortages....

308. Over 23,000 applications filed for suspension of loan payments

More than 23,000 persons have applied to the island’s two largest banks for a suspension of loan repayments, as retail borrowers and companies are trying to preserve disposable income amid the economic activity shutdown due to the coronavirus pandemic....

309. Loan payments to be suspended for nine months

After over two weeks of discussions between the Ministry of Finance, the Ministry of Labor, the Central Bank, the Association of Cyprus Banks and other financial entities to minimize the impact of coronavirus on the Cyprus economy, white smoke has emerged with all parties agreeing that payoffs for all types of loans are to be suspended for nine months....

310. Government considering to give banks €2b in state guarantees to unlock credit

The Cyprus government is considering a plan to provide state guarantees to banks amounting to €2 billion, in a bid to unlock credit to self-employed, small and medium-sized enterprises and large corporations hit by the coronavirus epidemic....

311. Health services concerned over non-compliance with quarantine instructions

The Epidemiology Unit of the Health Ministry have expressed concern over the non-compliance by Cypriots who had recently travelled to the coronavirus pandemic-hit Italy with instructions to remain under quarantine for 14 days....

312. Paphos court serves swift justice to dangerous motorcycle driver

In a swift serving of justice a Paphos court on Tuesday punished a motorcycle driver, arrested the day before for perilous driving, with a €1500 fine, four penalty points, and a three month driver’s license suspension....

313. Banks must find new profitable products, CBC Governor says

The task of securing alternative profitable products besides lending is the biggest challenge for banks in small countries such as Cyprus, Central Bank Governor Constantinos Herodotou said on Friday....

314. Digital transformation of health services is indispensable

315. 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...

316. Cyprus pays off costly crisis loan early

The Cypriot finance minister says the government is repaying an IMF rescue loan faster and at a lower rate after a double bond issuance expected to secure most of the country’s borrowing needs for 2020...

317. Cyprus Tax Webcast November2019

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

318. Central warns banks ‘not to overdo it’

The Governor of the Central Bank of Cyprus has called on smaller local banks not to get carried away with loaning money, urging them to follow the example of bigger banks and focus on reducing toxic debt...

319. «Growth momentum moderates» in Cyprus according to Εuropean Commission Autumn Economic Forecast

"Growth momentum moderates" in Cyprus, according to the headline assessment of the European Commission`s Autumn Economic Forecast for the country, presented today by Commissioner Moscovici in Brussels....

320. Cyprus to start process for early repayment of IMF loan, Finance Minister announces

Finance Minister Harris Georgiades announced on Tuesday that an official process will be launched for the early and full repayment of an IMF loan, following the repayment of a loan from Russia....

321. Moody's changes Cyprus outlook to positive

Rating agency Moody’s changed the outlook for the Cypriot economy to positive from stable, citing the reduction of the sovereign exposure to event risks stemming from the banking sector and the improving fiscal strength beating previous expectations...

322. Four New Partners at Harris Kyriakides LLC

Harris Kyriakides LLC announces four new partners in the company. As of the 1st of September 2019 the new partners are Andreas Anagnostou, Myria Loizou, Georgia Karamalli and Nicolas Kyriakides. ...

323. Estia scheme kicks in for eligible borrowers

The Estia plan aimed at boosting borrowers’ ability to repay their defaulted loans went into effect on Monday, as the Cypriot government embarks on a scheme to subsidize repayments of restructured loans...

324. Scope rates Cyprus with BBB-

Scope Ratings affirmed last week the Republic of Cyprus’ BBB- long-term issuer and senior unsecured local- and foreign-currency ratings, along with a short-term issuer rating of S-2 in both local and foreign currency, noting that all outlooks are stable...

325. Moody’s expects deleveraging to resume but warns over small economy and high level of debt

The credit profile of Cyprus reflects its small but wealthy economy, improved economic resilience and the government`s fiscal outperformance in the wake of the country`s banking crisis, Moody's Investors Service has said in an annual report. ...

326. Lifeline as Parliament accepts President's referral

The House of Representatives has heeded warnings voting to accept the President's referral of legislation that would have made it difficult for banks to recover mortgaged non-performing exposures...

327. Finance Committee seeks compromise on foreclosures

The House of Representatives Finance Committee meets on Friday to discuss proposals that would normalize the legislative framework on foreclosures...

328. Non-performing loans decline to €10.14 billion

Non-performing loans as defined by the European Banking Authority declined to €10.14 billion in March 2019, marking a reduction of €151 million compared to previous month. ...

329. ECB warns of 'significant negative impact'

The European Central Bank (ECB) has warned of “significant negative impact” to the Cypriot banking system in case a new law amending the legal on foreclosures is implemented. ...

330. Central Banker mulls bridging framework on foreclosures

The Central Bank will present recommendations aimed at rectifying the foreclosure framework it was announced on Thursday...