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541. Foreigners cramped in 5x5 units in Paphos

Paphos Mayor Phedonas Phedonos has pointed the finger at white collar crimes after a “shocking experience” Monday night when he saw first-hand foreign nationals living in poor conditions in violation of city ordinances...

542. Buyer’s market and herd immunity

The most unhappy property buyers are the ones who believe that the real estate market is a Buyer’s Market and discover that in the end the market is anything but a buyer’s market...

543. Cyprus and Russia come to terms

It will no longer be possible for wealthy Russians to distribute profit via dividends to foreign firms in Cyprus, after Nicosia said it agreed with Moscow on terms to amend a double tax treaty, but some say the island still kept some competitive advantages...

544. 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.”...

545. Cyprus tourism gearing up for ‘British invasion’

The tourism industry in the Republic of Cyprus is fighting tooth and nail to minimize losses this year, with the tourism minister hinting at British arrivals in mid-July and hoteliers asking for specific dates to get ready...

546. 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....

547. 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...

548. Empty middle seat? Depends on which country you are flying in

In Thailand, you cannot have food or water in flight and must wear a mask. In Malaysia and Indonesia, the plane needs to be half-empty. In the United States and Europe, it’s not mandatory for airlines to leave the middle seat open....

549. Companies in Cyprus ready for the new norm

CFOs in Cyprus appear more pessimistic in the second round of the survey conducted by PwC on the effects of COVID-19 on businesses and the wider economy...

550. Effects of COVID-19 on businesses, wider economy

The results of the PwC Cyprus Pulse Survey on the effects of COVID-19 on businesses and the wider economy, which was conducted with the participation of 45 CFOs from Cyprus, were made public today...

551. Cypriot food blogger drives passion home

As we experience these hard times it is difficult to identify, let alone rejoice the blessings COVID-19 will bring with it. One of them is going back to beautiful habits and rituals of home cooking which are all about togetherness...

552. Paphos mayor: Government should regulate 'black market pricing' of COVID-19 tests

Condemning the fact that some are taking advantage of the health crisis and making extraordinary profits, Paphos Mayor Phedonas Phedonos demanded on Friday that the government moves to set the price of coronavirus lab tests through a decree....

553. Sports betting industry crushed by coronavirus

OPAP, Europe’s fourth-biggest betting business, has had almost all its revenue wiped out following the coronavirus pandemic lockdown measures in Greece and Cyprus, after casino operations in the Republic came to a grinding halt...

554. EAC vows to credit back overcharges

An undisclosed number of property owners in the Republic Cyprus were overcharged on their electricity bills in recent months, with the Cyprus Electricity Authority vowing to right a wrong in future billings...

555. Cyprus a central hub of European match-fixing network

An extensive and revealing report published in the Spanish news outfit El Confidencial identified Cyprus match-fixing as a central hub of European football corruption....

556. 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....

557. EDEK party shrinks as turmoil escalates over ousted MEP

After the dramatic ousting of MEP Demetris Papadakis from socialist party Edek on Monday, the party continued to shrink throughout the week with the resignation of ten party members by Friday....

558. PRIO: A Cyprus solution could reap high economic benefits

A solution to the Cyprus problem will create large new markets, research conducted by the independent, bicommunal research centre PRIO showed....

559. Accounting profession the pillar of powerful economies

560. EU vessels will no longer have automatic access to UK fishing waters

The automatic right of EU vessels to fish in British waters, in accordance with the EU’s common fisheries policy, is to be ended under the fisheries bill introduced to parliament on Wednesday....

561. Cyprus ratifies Multilateral Instrument

On 22 January 2020, the Instrument of Ratification of the Multilateral Convention to Implement Tax Treaty Related Mattersto Prevent Base Erosion and Profit Shifting(“the Multilateral Convention”) were published in the Official Gazette of the Republic in Greek and English, (“Multilateral Instrument”)...

562. 2020 year of ‘slowbalisation’

Global economic growth in 2020 is expected to grow at a rate of around 3.4% in purchasing power parity terms,according to new projections by PwC, compared to its long-term average of a 21st century average of 3.8% per year...

563. EY helps establish ethical artificial intelligence systems

564. Cyprus Tax Webcast November2019

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

565. 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...

566. Cyprus says frigate underlines French support

Cypriot Defence Minister Savvas Angelides says a French frigate within the Cypriot EEZ was not intended to militarize a situation but to show support from France towards the Republic’s sovereign rights...

567. Hellenic Bank posts profit of €59.1 million in first half of 2019

The Hellenic Bank has announced that it has posted a profit of €59.1 million after tax in the first half of this year with CEO Yiannis Matsis noting that the results reflect part from the benefits from the acquisition of the operations of former Cyprus Cooperative Bank. ...

568. K.Treppides & Co Ltd: Time Value of Money

What if a close friend asks today to borrow 1,000EUR with the precondition to repay the exact same amount in five years? Would you take the deal or not?...

569. 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. ...

570. Coca-Cola Hellenic buys out Acque Minerali

Local Coke bottler Coca-Cola Hellenic (CCHBC) has made its second buyout of 2019, acquiring Italy’s Acque Minerali, which is active in the domain of bottled water and refreshments. ...