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151. Cyprus airways unveils strategic plans, new routes

Cyprus Airways on Wednesday unveiled its five-year strategic plan announcing the expansion of is flight schedule to five new routes, namely Milan, Zurich, Prague, Basel, and Cairo...

152. Gatzke-Hellenic relations have returned to normal

After taking a brief leave of absence, Hellenic Bank CEO Oliver Gatske has returned to his duties. Mr. Gatske was given the green light to return to his office on Monday after the Cyprus Securities and Exchange Commission cleared him of any wrongdoing....

153. Athens offices of Predator spyware seller raided

The Athens offices of Intellexa, which sells the Predator spyware in Greece, and Krikel, an ICT and electronic security systems provider, were among six companies raided by police as part of the investigation into the wiretapping affair on Tuesday...

154. Shipping tycoon wants to transfer biz to Cyprus

A Norwegian-born Cypriot billionaire wants to move his shipping company to Cyprus to reap benefits, including an EU-approved tonnage tax regime available only to tax residents of the island, which is scrambling to keep its industry afloat amid sanctions against Russia...

155. Tying up loose ends at Hellenic

Hellenic Bank experienced several changes in 2022, as it closed outstanding issues while also opening new chapters. Hellenic Bank made changes to its top management, staff, shareholding composition, and labor issues in the fourth quarter of 2022, ...

156. Hellenic CEO cleared of any wrongdoing

Oliver Gatzke, CEO of Hellenic Bank, has not been linked to any suspicious activity, according to the Cyprus Securities and Exchange Commission (CySEC)....

157. Hellenic Bank soon to be under the control of Eurobank

Eurobank is gaining control of Hellenic Bank after purchasing Wargaming's 13.4% stake. With the addition of the 12.6% it held from the purchase of all shares in Third Point Hellenic Recovery Fund in the summer of 2021, it now stands at 26%....

158. Defendants acquitted in first 'golden passports' trial

Nine defendants—5 people and 4 legal entities—were cleared and released from the 36 charges they were facing in the case involving the exceptional naturalization of foreign applicants by the Larnaca-Famagusta Permanent Criminal Court, which convened today, Friday, November 4. This decision was based on the Kalogeros ruling....

159. Why inequality is growing in the US and around the world

U.S. income inequality grew in 2021 for the first time in a decade, according to data the Census Bureau released in September 2022....

160. One-Stop-Shop for shipping companies in Cyprus

The plenary of the House of Representatives unanimously passed a law on Thursday that provides for the establishment of a one-stop-shop framework for shipping companies....

161. Sanctioned Russian billionaire wins right to use his yacht on the French Riviera

A French court on Wednesday ordered the country's customs agency to release an impounded yacht owned by a Russian billionaire hit by European sanctions, due to procedural errors made during the seizure of the vessel....

162. Crucial countdown as Cyprus moves to block Lone Star

Private equity firm Lone Star has until Friday to submit a binding offer to buy the Bank of Cyprus, but the island’s largest financial institution could be out of reach as the House is expected one day earlier to vote on a bill that would authorize the government to block a hostile takeover on security grounds...

163. FT: The Bank of Cyprus/Lone Star deal is not just about price

Cyprus has attracted a different sort of visitor recently. US buyout group Lone Star has taken an interest in Bank of Cyprus, the island nation’s largest lender....

164. Cyprus scrambles to block hostile bank takeover

The government in the Republic of Cyprus is racing against the clock to arm itself with legal tools to prevent a takeover of the country’s biggest bank by an American private equity firm, which has until next month to submit a final offer that some shareholders may find hard to resist...

165. K. Treppides & Co Ltd: Benefits in Kind

There are a number of commercial benefits that come with registering the property in the name of a legal entity rather than as an individual e.g. for asset protection purposes as it provides protection against personal insolvency since a property that is in the name of a legal entity should not be affected should the individual becomes personally insolvent....

166. Bank of Cyprus posts net profit of €21 million in Q1

Bank of Cyprus group announced on Thursday a net profit of €21 million for the first quarter of 2022, compared to net profit of €8 million in the first quarter of 2021....

167. Cyprus' RCB Bank and its Kremlin ties

On March 24, Cyprus’s fourth-largest bank announced it would wind down its banking operations in the wake of the “volatile geopolitical situation” caused by Russia’s invasion of Ukraine a month earlier....

168. Cyprus energy hub hopes hanging by a thread

Nicosia is eagerly awaiting news any day now that could potentially revive the island’s hopes in the energy game, with all eyes on whether a UK-based company with contracts in Israel could find enough gas to bypass red tape and send some of it to a friendly neighbor’s hub...

169. K. Treppides & Co Ltd: Cryptocurrency - Having your regulated firm able to trade in cryptocurrency

Decentralized digital currency era began in 2008 by an unknown person named Satoshi Nakamoto which invented Bitcoin, the very first cryptocurrency. ...

170. Elon Musk snaps up $3bn Twitter stake

Elon Musk has taken a 9.2% stake in Twitter, according to a US securities filing. The news sent Twitter shares soaring about 25% in pre-market trading....

171. K. Treppides & Co Ltd- Cryptocurrencies: Regulating cryptocurrency trading in Cyprus

172. Cablenet, reports Double-Digit Growth for 2021

During 2021 revenue reached €53.5M, a healthy 14% growth over 2020. This double-digit growth in revenue was driven, largely by the significant growth in the overall Subscriber base, which recorded a 30% increase over the previous year. ...

173. Major projects underway in Larnaca, Nicosia

The Cyprus real estate and construction sectors are moving past the demise of the scrapped Citizenship for Investment Programme, turning their attention to the capital and the once-neglected coastal town of Larnaca, while Limassol, with its high-rises and cosmopolitan lifestyle, is still seeing part of the action....

174. Hellenic acquires 553 million euros worth of Cypriot corporate loans from RCB

Hellenic Bank has acquired 553 million euros worth of Cypriot business loans from RCB Bank, increasing its loan portfolio to over 7.2 billion euros....

175. The Cypriot oligarch and passports

On the first day of the invasion, Thursday, February 24, as Ukrainian cities were being bombed by the Russian army, Vladimir Putin met with 37 businessmen and members of his government to assess the impact of sanctions already imposed by the United States and members of the European Union....

176. Cyprus is losing its Russians, confronting existential questions about its economy

For decades, Cyprus built an economy that courted Russians — Russian tourists, Russian investors, Russian oligarchs. ...

177. Europe's banks reveal billions worth of Russia risk as sanctions bite

Credit Suisse said it had gross exposure to Russia of 1.6 billion Swiss francs ($1.73 billion) at the end of 2021, the latest European bank to reveal the size of potential losses as Western sanctions shut Russia out of the global financial system....

178. S&P downgrades RCB, places bank on CreditWatch with negative implications

Rating Agency Standard and Poor’s downgraded RCB bank’s long-term lender rating to `B+` from `BB-` and placed its ratings on CreditWatch with negative implications,...

179. At least five oligarchs have bank accounts in Cypriot banks

In Cyprus, five oligarchs from the EU list What emerges from the investigations of Cypriot banks for the lists of the European Council which includes 50 persons...

180. Meta agrees $90 mn settlement in Facebook privacy suit

Facebook-parent Meta has agreed to pay $90 million to settle a 10-year-old lawsuit accusing it of tracking users online even after they logged off the social network, court records show....