Hope is fading for burned depositors
Eleven years plus after the devastating bank bail-in of 2013, the clock is ticking for those still seeking restitution. The statute of limitations already expired years ago. Meantime one after another ...
Articles
House cuts fines for late UBO declarations
The House on Thursday passed an amendment to a law that significantly reduces the fines imposed on corporate entities for not declaring their ultimate beneficial owners (UBOs) on time.
Under ...
ExxonMobil to begin Cyprus gas drilling in January
ExxonMobil will drill a well offshore Cyprus in January in its pursuit of natural gas, a senior executive said on Thursday at an energy and geopolitics event in Nicosia.
“We’...
Final decision on UBOs set for vote
Parliament and the government on Tuesday found a sweet spot to regulate the matter of companies not having declared their ultimate beneficial owners (UBOs) on time, with an agreement to ...
Cyprus leads EU in absorption of European funds
Cyprus ranks top of the EU in terms of the absorption rate of funds among the bloc’s 27 members, the Cypriot member of the European Court of Auditors (ECA) said ...
Cypriot passport holders on UK’s latest list of sanctions targets
A small number of Cypriot passport holders were listed on Tuesday on the UK’s financial sanctions list, including one businessman allegedly linked to Roman Abramovich, former owner of Chelsea ...
‘No evidence’ of cartels on fuel prices or banks
No evidence has come up concerning the existence of cartels or cartel-like behaviour in the retail fuel market or the banking industry, the Commission for the Protection of Competition (CPC) ...
MPs agree to funds for anti-corruption authority
Parliament on Monday greenlit funds for the anti-corruption authority that the body says are indispensable to continue the work of investigations.
Despite having given the authority some pushback last week, ...
Yet another 2013 deposit ‘haircut’ case fails
Nicosia district court has dismissed a lawsuit against the state, the Central Bank and the Bank of Cyprus over the 2013 ‘haircut’ on deposits, the attorney-general’s office stated on Monday.
...
Govt to reform state land allocation for solar parks
The government pledged Thursday to tighten up procedures for granting state land intended for the construction of solar parks, aiming to make these practices “more transparent and meritocratic”.
In a ...
EAC has ‘shirked responsibility’ to pass costs on to consumer
The energy regulator said on Tuesday it will review data purporting to show how the Electricity Authority of Cyprus (EAC) could “trim the fat” and cut costs by up to 15 ...
Airbags: ‘I hope we do not mourn other victims’
MPs on Tuesday heard that thousands of cars installed with faulty airbags could make for a “ticking time bomb” while one former official called for such vehicles to be temporarily ...
Tempers flare over ‘golden passport’ probe
Friction flared up in parliament on Monday after the head of the anti-corruption authority declined to commit specifically to investigating former president Nikos Anastasiades in relation to the ‘golden passports’ ...
Government steps up crime crackdown
The government said Monday it is doing what it can to return a sense of safety to the wider public and to crack down on organised crime, part of it ...
How much does it cost to generate electricity?
Shooting up across the island, solar farms are raking it in, boasting profit margins that would make John D Rockefeller go green with envy. The public has noticed, and so ...
Cyprus may borrow to repay €6.3 billion bailout, MP warns
An MP on Thursday claimed that the Cypriot state was preparing to “borrow again” to repay a €6.3 billion bailout granted back in 2013.
Zacharias Koulias (Diko) made the comments while the ...
House approves €94 million boost for the Health Insurance Organisation
The House plenum on Thursday approved an extra €94 million for the Health Insurance Organisation for fiscal year 2024, but not without some gripes from MPs.
The supplementary budget largely concerns expenses ...
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Christodoulides and Erdogan discuss Cyprus and EU relations
President Nikos Christodoulides and Turkish President Recep Tayyip Erdogan met in person in Budapest ahead of the European Political Community’s summit in the Hungarian capital on Thursday.
Christodoulides and ...
State to spend €9 million on clerics pay next year
In 2025 the state will spend about €9 million on the salaries of clerics, based on an agreement between the government and the church dating to the early 1970s.
The finance ministry ...
US navy helps construct heliport at Mari
Construction works are well underway for a multi-use heliport at the site of Mari naval base, reports said on Tuesday.
Taking part in the earthworks and soil removal is the ...
Union demands sacked audit chief gets all his pension
The civil servants’ main union on Monday came to the defence of former auditor-general Odysseas Michaelides, urging authorities to immediately pay the ex-official all his pension dues.
“Regardless of the ...
Calls for swift passage of foreign investment screening law
A business association urged parliament on Monday to quickly pass an EU regulation that has to do with the screening of direct foreign investment in Cyprus, noting that the island ...
House passes harsher penalties for hate incitement based on sexual orientation, gender
The House plenum on Thursday passed a law introducing stiffer penalties on anyone found guilty in a court of law of inciting violence or hatred against persons for their sexual ...
Court to rule on Yiannaki pre-trial motion in two weeks
The court hearing the case of former Volunteer Commissioner Yiannakis Yiannaki said Thursday it will decide in two weeks’ time on the defence’s motion for a trial within a ...