BusinessMail

• ‘Golden visas’ risk being exposed to fraud, insider says

  22-7-2018 Business Mail

  By Stelios Orphanides Foreign investors applying for a Cypriot ‘golden visa’ may be exposed to malpractice and fraud if the government decides...

• Fiscal council urges government to focus on reducing debt

  20-7-2018 Business Mail

  By Stelios Orphanides The government should contain spending and instead focus on reducing public debt “as early as possible,” the Cyprus News...

• Cypriot construction sector NPLs highest in Europe

  20-7-2018 Business Mail

  By Stelios Orphanides Almost a decade after the 2008 real estate bubble bust, Cyprus’s ratio of non-performing loans in the real estate and...

• Moody’s says new capital gains tax exemptions to aid banks

  19-7-2018 Business Mail

  By Stelios Orphanides Moody’s Investors Service said that the decision of the Cypriot parliament to also exempt the sale of real estate from...

• Fitch says medium term debt drop unaffected by Co-op

  18-7-2018 Business Mail

  By Stelios Orphanides Fitch Ratings said that the sale of the Co-op’s operations to Hellenic Bank and the related increase in government debt...

• CySEC says cash payments of €10k banned

  18-7-2018 Business Mail

  By Stelios Orphanides The Cyprus Securities and Exchange Commission notified supervised companies that accepting €10,000 or more in cash...

• June harmonised inflation seen at 1.7%

  18-7-2018 Business Mail

  By Stelios Orphanides The harmonised consumer price index rose in June 1.7 per cent compared to the respective month of 2017 mainly on higher...

• Haulers block Limassol port briefly in protest

  18-7-2018 Business Mail

  By Stelios Orphanides A group of truck drivers disrupted the operations of the Limassol port on Wednesday when they briefly blocked the...

• Unions, Co-op agree to talk again on Thursday

  17-7-2018 Business Mail

  By Stelios Orphanides A meeting held between unions of the Cyprus Cooperative Bank and the lender’s administration to discuss the...

• CBC governor sparks new controversy with comments she denies

  17-7-2018 Business Mail

  By Stelios Orphanides Central Bank of Cyprus governor Chrystalla Georghadji, who had been criticised for remaining silent in recent months...

• Tourist arrivals up 8.2% in June

  17-7-2018 Business Mail

  By Stelios Orphanides The number of tourist arrivals in June rose 8.2 per cent to 511,073 compared to the respective month of 2017 on a strong...

• Russian businessman Savvidi seen behind violent protest in FYROM

  16-7-2018 Business Mail

  By Stelios Orphanides Russian businessman Ivan Savvidi financed political groups in the Former Yugoslav Republic of Macedonia (FYROM) with at...

• Co-op buys €3.2bn in government bonds, sells back April issue

  16-7-2018 Business Mail

  By Stelios Orphanides The government issued on Friday €3.2bn in bonds in favour of the Cyprus Cooperative Bank with a maturity of 5 months to...

• Hellenic, Coop engage in business transfer talks

  16-7-2018 Business Mail

  By Stelios Orphanides Hellenic Bank and the Cyprus Cooperative Bank have launched talks aiming at completing the agreed transfer of the...

• MTN sells Cypriot unit for €260m

  16-7-2018 Business Mail

  By Stelios Orphanides South Africa’s telecom MTN Group sold its operations in Cyprus to Monaco Telecom S.A. for a total of €260m, Reuters...

• Parliament passes Solidarity Fund Budget

  13-7-2018 Business Mail

  By Stelios Orphanides The parliament approved on Friday a supplementary budget which provides for the allocation of €25m in taxpayers’ money...

• Court of Justice of EU rejects lawsuit against 2013 bail-in

  13-7-2018 Business Mail

  By Stelios Orphanides The Court of Justice of the European Union (CJEU) rejected lawsuits filed by depositors at Bank of Cyprus and Cyprus...

• Moody’s considers upgrading Hellenic, Co-op after deal

  13-7-2018 Business Mail

  By Stelios Orphanides Moody’s Investors Service said that it has placed the credit rating of Hellenic Bank and the Cyprus Cooperative Bank on...

• Parliament accepts Anastasiades’s referral of insolvency law

  13-7-2018 Business Mail

  By Stelios Orphanides Parliament on Friday accepted President Nicos Anastasiades’s referral of the law on the treatment of bankrupt persons...

• Company registrations up 17% in June

  13-7-2018 Business Mail

  By Stelios Orphanides The number of company registrations rose in June an annual 17 per cent to 1,123 unaffected by tougher anti-money...

• NPLs drop to below €20bn in March, CBC says

  12-7-2018 Business Mail

  By Stelios Orphanides Non-performing loans in the Cypriot banking system fell in March by almost €2.1bn to €19.9bn in a month, which is the...

• April tourism revenue down 4.3% as Britons, Russians cut spending

  11-7-2018 Business Mail

  By Stelios Orphanides Revenue from tourism fell in April 4.3 per cent to €181.4m compared to the respective month of 2017 against a 9.7 per...

• Q1 home prices down 1.8% Q/Q, Cystat says

  10-7-2018 Business Mail

  By Stelios Orphanides Home prices fell 1.8 per cent in the first quarter of the year compared to October to December last year, the first...

• Saloon registrations up 3.3% in June

  10-7-2018 Business Mail

  By Stelios Orphanides The number of saloon cars registered in June rose 3.3 per cent, to 4,533, compared to June last year on an increase in...

• BOC agrees to sell UK unit to Cynergy Capital

  10-7-2018 Business Mail

  By Stelios Orphanides Bank of Cyprus, the island’s largest lender, said that it agreed to sell its subsidiary, Bank of Cyprus UK, to Cynergy...