Search

661. 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....

662. Confirmed infections gradually go down

Greek Cypriot health officials say there was a “gradual reduction” in the number of confirmed coronavirus cases, adding that measures in place have been effective but this could still change at a moment’s notice...

663. Help from China on the way

The Chinese ambassador in Nicosia says Cyprus has recently taken “powerful and appropriate” measures in the fight against the coronavirus pandemic, adding that help from China is on the way...

664. State suspends foreclosures for 3 months, requests 10% reduction in electricity fees

The government on Wednesday agreed to request from the Cyprus energy regulatory authority a 10% cut on electricity usage charges for a period of three months, in view of providing some breathing space as the island traverses the Covid-19 health crisis....

665. 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...

666. Travel agents issue SOS as cancellations mount

Cancellations and minimal new bookings have brought travel agents to “the brink of disaster”, the President of the Cyprus Association of Travel Agents, Vasilis Stamataris, said in a press conference on Wednesday....

667. Official guidelines for people returning from high-risk countries

668. Ambitious national tourism strategy already in motion

Cyprus’ national tourism strategy, containing a set of predefined goals for each year until 2030, is already being implemented, Deputy Minister of Tourism, Savvas Perdios, said on Tuesday....

669. Cyprus' debt at €20.74 billion in end of 2019

670. Cyprus enjoys strong growth prospects but contingent liabilities remain

Strong growth prospects and sustained fiscal discipline places Cyprus on a firm declining path but contingent liabilities, healthcare and public sector wage-related costs, as well as weaker external conditions, pose risks to the fiscal outlook, Scope rating agency said in commentary on Cyprus....

671. 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....

672. 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”)...

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

674. CITR Cyprus calls for modern insolvency rules

675. 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...

676. Government employees rose by 1.1% in October due to temporary employment

Government employees in October 2019 rose by 1.1% year on year amounting to 52,476 persons, pushed upward due to temporary employment, according to data released on Friday by the Cyprus Statistical Service (Cystat)....

677. Attracting investments, relations with Turkey: A new chapter?

On a diplomatic level, the main event was Mitsotakis’ meeting with Turkish President Recep Tayyip Erdogan. The two leaders discussed all the major issues. Aside from the chronic Cyprus dispute, where the situation has become even more complicated following the discovery of gas deposits, one of the most pressing issues at the moment is migration. ...

678. 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...

679. Cyprus to fully repay IMF loan in 2020

According to figures from the 2020 budget presented by Finance Minister Haris Georgiades to the Cabinet, Cyprus will repay the IMF loan early resulting in government debt reduction to 91.1% of GDP ...

680. Greek corporations rush to issue bonds amid record low yields

The easing of Greek state bond yields to record lows has opened the way to international markets for major Greek corporations too, as they can now take the opportunity to reduce their cost of borrowing. ...

681. Overtaxation led to tax evasion

Losses incurred by the state coffers due to tax evasion in 2014-17 were greater than the value-added tax revenue increase as a result of consecutive tax hikes, according to a European Commission report on the so-called VAT deficit (the difference between the expected VAT revenues and actual collections)...

682. Greek PM in charm offensive aiming to ease primary surplus targets

Prime Minister Kyriakos Mitsotakis is planning a series of trips abroad toward the end of this month and next, hoping to convince Greece’s creditors of the recently elected government’s commitment to reforms and to lay the groundwork for reducing demanding primary surplus targets agreed under the country’s post-bailout agreement....

683. Government in talks with businesses to raise corporate tax rate

Finance Minister Haris Georgiades confirmed reports that the government plans to increase the corporate tax rate from 12.5% to 15%...

684. Cyprus considers raising corporate tax rate to 15%

The idea of ​​raising the Cyprus corporate tax rate from 12.5% ​​to 15% has been discussed at a meeting between Finance Minister Haris Georgiades and business executives...

685. 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. ...

686. S&P affirms Bank Of Cyprus ratings

Standard & Poor’s affirmed on Tuesday their `B+/B` long- and short-term issuer credit ratings on Bank of Cyprus Public Co. Ltd. (BoC), noting that the outlook is stable...

687. Greece approves cut on property tax, eases arrears payment

The Greek parliament approved an across-the-board reduction of a deeply unpopular property tax on Tuesday, fulfilling an election pledge of new prime minister Kyriakos Mitsotakis....

688. Cyprus Tax Webcast, July 2019

689. Two new recycling and composting programmes in Limassol

Limassol Municipality is going ahead with the implementation of two new recycling and composting programmes aiming to properly manage waste by reducing, reusing and recycling it. ...

690. Coral Bay trial ends with sentence

The man who ran down Charlie Birch in Coral Bay last year has been sentenced to 2.5 years, following a protracted legal battle that had charges reduced twice in the course of the trial...