Prospects for reaching common ground on the Cyprus peace process “remain uncertain” for the foreseeable future, said UN Secretary-General Antonio Guterres. According to an advance copy of the report on his Mission of Good Offices in Cyprus, he reiterated that demonstration of political will and flexibility “remains of paramount importance” for the future of the
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Credit rating agencies are keeping an eye on Cyprus’ presidential elections in February to conclude how the island’s new administration will be running public finances, say economists. Rating agencies will launch a new round of evaluation for Cyprus in early March, just weeks after the elections of the new President. President Nicos Anastasiades’ second term
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In a letter to UN Secretary-General Antonio Guterres, Cyprus denounced Turkish violations of its national air and maritime space from January-August. The letter from the UN Permanent Representative of Cyprus, Ambassador Andreas Hadjichrysanthou, was released on Tuesday as an official document of the Security Council. It should be noted that 73 out of the 560
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A total of €21.3 mln in court fines from 26,889 cases in 2022 never made it to state coffers, with courts issuing warrants for police to either collect or take further action. Phileleftheros daily said courts issued 36,728 warrants worth €26.99 mln from January to 9 December 2022. Police officers have only been able to
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Cyprus’ property market is feeling the brunt of hiking building costs and interest rates as Cypriots see their dream of owning a home dashed, with real estate stakeholders pinning their hopes on foreign buyers. Real estate agents and developers say a rise in demand from foreign investors will balance the gap caused by the loss
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The Finance Ministry seek to push the thorny issue of finding a compromise on reduced VAT for first homes to the next government after the European Commission’s latest warning against Cyprus over the discount. The European Commission has given legislators until 15 February to approve relative legislation aligned with the EU directives on housing incentives,
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Cyprus police have picked up 42kg of cannabis washed up on Protaras beaches, while Turkish Cypriot authorities said they collected another 75kg further down the coast in the occupied north. In comments to the Cyprus News Agency, Drug Squad Deputy Chief Stelios Sergides said the force has been trying to solve the mystery since December
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The Single Market has led to an unprecedented market integration between Member State economies, serving as a driver for growth and competitiveness, said the European Commission to mark its 30th anniversary. “Established on 1 January 1993, the European Single Market allows goods, services, people and capital to move around the EU freely, making life easier for
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Eurobank is moving closer to a takeover of the island’s second-largest lender after solidifying its position as Hellenic Bank’s major shareholder acquiring another 3.2%, essentially buying out Senvest Management LLC. Combined with the initial deal to buy 13.41% of Wargaming’s 20.61% stake for €70 mln earlier last month, Eurobank will command 29.2% of Hellenic’s capital.
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By Craig Erlam A mixed start to trading on Tuesday as traders return following the festive break to some rather gloomy forecasts for the coming year. The IMF is among those warning of a tough year, more so than the one we’ve just left, as the simultaneous slowing down of the US, EU, and China
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