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1081. COVID-19 is adding new impetus to finance transformation

1082. Cypriot FM visits Gulf before US inauguration

Cypriot Foreign Minister Nikos Christodoulides flew to the United Arab Emirates on Monday to hold a private meeting with his counterpart, days after the two countries signed a military cooperation agreement but also days before a changing of the guard in Washington could spell trouble for US arms sales to Gulf states...

1083. Folli Follie report unveils 17-year scam

The troubled Folli Follie company’s major shareholders, the Koutsolioutsos family, reaped the benefits of a well-orchestrated fraud scheme that lasted for at least 17 years, under the nose of the supervisory authorities, generating hundreds of millions of euros in profits, according to an audit report by PricewaterhouseCoopers. ...

1084. Cabinet agrees on plastic bag ban at sales points

The Cabinet on Tuesday agreed on a blanket ban on thin plastic bags at points of sale, with the decision to come into force once passed by the House plenum....

1085. Cyprus remains an attractive investment destination

Cyprus remains an attractive investment destination, especially among established investors ...

1086. Turkey’s defence industry to go it alone

US Senator Robert Menendez says he is not worried about retaliation from Turkey after Washington imposed sanctions on Ankara, with officials in Turkey warning further development of their domestic defence industry could speed up as a result...

1087. COVID-19 to disrupt holiday shopping plans

1088. Turkey shrugs off effect of sanctions as EUCO looms

The intense consultations between European Union member-states on the bloc’s response to Turkish aggression in recent months are expected to continue until the 11th hour before the start of Thursday’s crucial leaders summit. ...

1089. Moscow blames ban on Cyprus Airways

Cypriot Transport Minister Yiannis Karousos says the government will do whatever necessary to overcome a disembarkation ban by Moscow, while reports say Russian aviation authorities imposed the ban on Cyprus Airways over the company’s failure to provide a passenger list...

1090. Government ups rhetoric against auditor

The Cypriot government hinted over the weekend it might refer the auditor general to the Supreme Court over “indecent” behaviour, after the audit office published yet another damning report alleging offences in a Cabinet decision to grant investor passports to individuals linked to a casino project without meeting the criteria...

1091. Scientists warn against rapid test self-checking

The rapid antigen tests that the health ministry recently stocked up on in its battle against time to detect coronavirus cases among Cyprus employees require careful handling....

1092. 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....

1093. EAC crucial to Cyprus' energy reform, energy minister says

The role of the Electricity Authority Cyprus is crucial to both the implementation of the energy reform in Cyprus and the joint effort for sustainable economic development, which must now be interconnected with green energy, energy minister Natasa Pilides said, addressing an online press conference during which the EAC presented its annual report for 2019. ...

1094. Elusive businessman with Cyprus ties pops up

The whereabouts of elusive Russian hedge fund manager German Lillevali, who was linked to a flurry of companies in Cyprus after he became a resident, are no longer a mystery after reports that he was detained in the US on an immigration violation but released due to overcrowding amid the coronavirus pandemic...

1095. Lidl Cyprus celebrates 10th anniversary

A press conference dedicated to the 10th anniversary of its operation was carried out by Lidl Cyprus on Tuesday, November 10, in a virtual environment and in the presence of institutions and representatives of the media...

1096. Zara's online store in Cyprus goes live today

Zara launches online sales in Cyprus today. With this launch, Zara is marking a new milestone in the steady expansion of its fully integrated store and online model across the universe of markets in which the Inditex Group does business....

1097. Cyprus records deficit of €800 million in Q2

Cyprus General Government posted a deficit of €800 million in the period of April – June 2020 compared to a surplus of €140 million in the respective period of last year, according to data released today by the Cyprus Statistical Service (Cystat)....

1098. MPs put foot down over farm animals in pet list

As Cyprus scrambles to draw up a list of animals permitted to be sold at pet shops, and by extension which pets the public can keep at home, the parliamentary environment committee is pushing for certain farm animals, such as donkeys, horses, pigs, and sheep, which are currently included in the list, to be available for purchase only in appropriate circumstances....

1099. EY Attractiveness Survey Cyprus 2020

EY Attractiveness Survey Cyprus 2020: Investors are optimistic about the country’s attractiveness over the coming years, but state that there is room for improvement...

1100. EC: Cyprus, Malta golden passport schemes in violation of EU law

The European Commission launched infringement procedures against Cyprus and Malta on Tuesday in response to their ‘golden passport’ schemes, and allowed a two-month period for the countries to respond in writing to the Commission’s warning letter....

1101. Golden passports pushed forward in Commission agenda

After the Al Jazeera revelations, the Cyprus Investment Program is being pushed into the European Commission’s discussion agenda....

1102. EY and P&G expand COVID-19 alliance

EY announces an expanded alliance with P&G to transform and build supply chain resilience during and beyond the COVID-19 pandemic...

1103. Commission slams Cyprus over passports, mulls infringement procedures

The European Commission expressed “disbelief” over new revelations concerning Cyprus’ investment for citizenship scheme, saying that the body is looking into infringement procedures for Nicosia. ...

1104. Washington lifts Cyprus arms embargo

Washington has announced a partial lifting of a decades-old arms embargo to the Republic of Cyprus, with Turkey saying the decision ignores equality and balance between the two sides on the divided island...

1105. EU set to sanction Turkey over ships in disputed East Med exploration area

The European Union is preparing sanctions against Turkey that could be discussed at the bloc's next summit on September 24 in response to the Eastern Mediterranean dispute with Greece, the EU’s top diplomat said on Friday. ...

1106. 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...

1107. Largest Hotel in Cyprus Reopens its doors

1108. Police raid 'brothel' in Nicosia

Nicosia police arrested a local man and took seven women into protective custody following a raid at an old hotel described as a front for prostitution...

1109. 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...

1110. Wars over imported damaged vehicles

Transport ministry officials are getting serious pushback from groups opposing a new guideline that would require car damage history to be disclosed to prospective buyers of used vehicles...