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541. Cyprus perturbed over Russia tax move

Finance ministry officials in the Republic of Cyprus say they were caught by surprise when Russia announced it would scrap a bilateral double tax treaty, with Moscow suggesting there was no other alternative after talks had failed...

542. 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.”...

543. Businesses pursue strategies for turning challenges into opportunities

The results of the third round of the CFO Pulse survey conducted by PwC on the effects of COVID-19 on businesses and the wider economy reveal that 46% of CFOs believe that if COVID-19 were to end today, their company could get back to “business as usual” within three months...

544. Cabinet approves stricter regulations for citizenship-by-investment scheme

The Cabinet on Wednesday approved new regulations to the citizenship-by-investment program, an important provision of which ties the program to anti-money laundering legislation, interior minister Nikos Nouris said. ...

545. Bill criminalises prostitution in Cyprus

A proposed legislation making paid sex a crime in the Republic of Cyprus is drawing criticism, after the country’s left wing declared the female body is not for sale and cannot be bought...

546. 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....

547. House passes bills mitigating pandemic repercussions

The House on Friday approved a wide array of bills, passing into law a wide array of bills seeking to keep Cyprus afloat as it is making its way through the first wave of the coronavirus pandemic....

548. COVID-19 outbreak both a curse and a blessing

The coronavirus pandemic in Cyprus has come as both a curse and a blessing, as it forced authorities to move with unprecedented speeds toward a digital transformation, Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos said Thursday....

549. More Cypriots ditch cash during pandemic

Cypriot consumers are increasingly turning to debit and credit cards as opposed to traditional cash payments for their daily needs amid the coronavirus pandemic, data by JCC payments systems show ...

550. Civil society group launches petition demanding government covers rent, utility bills

A civil society group that formed in Cyprus amid the coronavirus outbreak to address urgent social concerns that have slipped through the cracks of the government’s support package launched a petition on Wednesday demanding that the government moves to cover rent and suspend utility expenses....

551. 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....

552. Employers and Employees in the age of Covid-19: A looming battle

In modern times the world community has not faced a situation like the present, created by the Covid-19 pandemic. The Republic of Cyprus is among many countries fighting desperately to minimize damage on all fronts....

553. Tax alert: Cyprus

554. 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....

555. Now is the time for remote and online payments

For more than 30 years, JCC has been supporting businesses and the financial services sector in Cyprus, guided by the central premise of security and reliability in every type of service JCC has been providing...

556. President: Unnecessary travel strictly prohibited, violators to be fined

Addressing the nation on Monday night for the second time since the coronavirus pandemic broke out in Cyprus in early March, President Nicos Anastasiades announced that all unnecessary travel will be banned as of 6pm on Tuesday until April 13....

557. Financial measures tackle coronavirus in Cyprus

Measures of Financial Support to address the Impact of the Coronavirus have been announced by the Government of the Republic of Cyprus...

558. Fourth Italian dies from coronavirus in worst flare-up outside Asia

A fourth person infected with the coronavirus has died in Italy, officials said on Monday as the government struggled to contain an outbreak of the illness and financial markets slid on fears over the economic impact....

559. Greek PM meets with five EU leaders over bloc's budget

Greek Prime Minister Kyriakos Mitsotakis held talks in Brussels on Friday with the leaders of Germany Angela Merkel, France Emmanuel Macron, Spain Pedro Sanchez, Italy Giuseppe Conte and Portugal Antonio Costa in a bid to break a deadlock in negotiations for the European Union’s 2021-2027 budget....

560. 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...

561. Turkey deploys extremists to Libya, local militias say

Syrian militants affiliated with groups such as al-Qaida and the Islamic State group are currently being sent by Turkey to fight on behalf of the UN-supported government in Libya, according to two Libyan militia leaders and a Syrian war monitor....

562. One in five deaths in Cyprus tobacco-related

One of the leading causes of preventable mortality in Cyprus is death due to lung cancer, while one in five deaths is tobacco-related, Cyprus’ state of health profile, compiled by EU bodies, showed....

563. Thousands of Greek cards to be replaced in travel website data breach

Greece’s four systemic banks have canceled or are planning to cancel and replace up to 15,000 credit and debit cards, after the payment card data used by some of their customers on a Greek online tourist services portal was hacked....

564. Revenue from ship management dips

Ship management revenues decreased in the first half of 2019 by €5 million, according to the results of the Ship Management Survey for the first half of 2019, concerning the transactions of resident ship management companies published Wednesday by the Central Bank of Cyprus...

565. MAP S.Platis joins forces with global firm FTI Consulting

566. How will digital shape your future?

As technology evolves to support more and more of our everyday lives, it’s natural to wonder what’s in store for the future. How will it affect your life and career?...

567. Giuliani implicates Cyprus in Biden claim

President Trump’s personal attorney Rudy Giuliani has implicated Cyprus in Ukrainian money laundering assertions he has made regarding Joe Biden’s son Hunter...

568. Cyprus hotels to take a €60 million hit as thousands stranded by Thomas Cook collapse

Officials at the Deputy Ministry of Tourism are scrambling to ascertain the impact of the collapse of Thomas Cook on the Cypriot hotel industry. ...

569. Woman still wanted in Larnaca travel scam

Police are asking members of the public to help locate a Larnaca woman who is wanted in connection with a suspected travel scam...

570. 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...