No impact on financial stability has been recorded so far by the US and UK sanctions against Cypriot people and firms for assisting sanctioned Russian nationals apart from Cyprus’ credibility, Central Bank of Cyprus (CBC) Governor Constantinos Herodotou said, noting that noncompliance would pose “very negative consequences to the economy.”
The economy of Cyprus is expected to grow by 2.6% this year, a full three points lower than the 2022 increase in the island nation’s gross domestic product, the governor of the country’s central bank said on Tuesday.
The President of the Republic of Cyprus Nikos Christodoulides has announced that Cypriot authorities have received the first package of information from the US regarding natural and legal persons included in the US sanctions list, with two more packages expected soon.
The total value of properties sold in Cyprus in the year’s first quarter was 1.7 billion euros.
The business registrar in the Republic of Cyprus has been flooded with requests from companies scrambling to make changes to their structures, after hundreds of firms on the island saw their assets frozen due to new sanctions targeting agencies viewed by Washington and London as “Russian enablers.”
Former president Nicos Anastasiades, who has denied accusations that he unlawfully interfered in a soccer match-fixing probe, engaged in a back-and-forth with his accuser after he dropped the bombshell firsthand account allegations during a public podcast.
The Cyprus Council of Ministers approved a decree during Tuesday’s session, which imposes a zero VAT rate on the delivery of certain products until October 31. These include bread, milk, eggs, baby food, baby diapers, feminine hygiene products, and adult diapers. The purpose of this temporary measure is to ease the burden on households coping […]
A revised set of criteria on the expedited process for granting immigration permits to third-country nationals who invest in Cyprus come into effect on Tuesday, the island’s Interior Ministry has announced.
Revenue from Cyprus’ ship management industry continued its upward trend in the second half (H2) of 2022, reaching 648 million euros, up 25.6% year-on-year.
Nonperforming loans in Cyprus rose by 12.8 million euros in January 2023 compared with December 2022, amounting to €2.32 billion or 9.5% of total loans.
