Cyprus’ economy will grow by 2.8% GDP in 2020 down from 3.2% last year, according to the European Commission’s Winter Economic Forecast. Inflation will be 0.8% in 2020 and 1.2% in 2021 while “downside risks are primarily external notably a potential slowdown in foreign demand for residences and tourism services”. According to the European Commission,
More
By Nikos Moudouros While Ankara deploys a seek and destroy mission to blast Mustafa Akinci out of the Turkish Cypriot leadership race, it is causing the biggest political crisis in the occupied north since the 2004 Anan Plan referendum. Ankara has decided to go nuclear on Akinci with Turkish officials fearing him to be a
More
Cyprus building permits issued by local authorities during January-November 2019 increased by nearly 11% with their total value spiking 74% compared to the same 11-month period of 2018. According to official data, the total value of building permits issued in the first 11 months of 2019 stood at €3.3 bln with 54% of this value
More
A 43-year-old Cypriot motorist who posted a live stream driving a truck with his legs on the steering wheel while navigating a busy motorway, was jailed for 40 days on Thursday after pleading guilty to reckless and dangerous driving. The driver, from Limassol, admitted to posting the video of his unorthodox behaviour on social media,
More
By Nicolaos Artemis The use of Social Media Networks (SMN) is becoming all the more prevalent in our era. They are used mainly by young people, especially students, and they are an important part of their everyday life. We should not be alarmed by this reality. To the contrary, it is imperative that we manage
More
A Cyprus second division football club chairman and a referee were remanded in custody for eight days in connection with match-fixing after it was claimed that €10,000 was offered to throw a game. Chairman of Ayia Napa FC, Demetris Masias 39, a former international referee and football agent, along with referee Andreas Constantinou, 33, was
More
The European Commission has sent legal warnings to Cyprus, Portugal, the Netherlands and five other EU states over their delays in applying new anti-money laundering rules adopted at European Union level two years ago. The 27 EU states were required to enact by January tighter rules to counter dirty-money risks in a wide range of
More
Bitcoin’s price has soared to $10,300 on comments made on Tuesday by the U.S. Federal Reserve Chair – but there are other major factors at play driving the price, which has jumped more than 40% since the beginning of 2020. Nigel Green, deVere Group CEO and founder, said that the world’s largest cryptocurrency jumped more
More
Cyprus credit card transactions in January increased by 6%, reflecting stable consumer confidence while online payments to the state did not play a significant role in the rise. According to the latest JCC data, the value of Cyprus credit card spending in the domestic market increased by 6% in January to €413.6 mln compared to
More
A European money-laundering watchdog has warned that a secretive investment-for-passports scheme run by Cyprus was vulnerable to money laundering and fraught with risk. Cyprus welcomed the report saying it highlights the progress made in combating money laundering while it pledged to successfully adopt recommendations in areas such as the passport programme. Cyprus launched the scheme
More
