A 42-year-old Ukrainian national was remanded in Cyprus police custody for seven days on suspicion of financial fraud for allegedly scamming $92 mln from a Cypriot company. The man was arrested on
As most of us are aware, a major trend that appeared in global markets in recent times is the establishment of a low or even negative interest rate environment. The reasons of
Cypriot economic sentiment improved in January spurred on by stronger business confidence in the services sector, according to the University of Cyprus index. In January, economic sentiment in Cyprus advanced as the
The 2008 financial crisis hit Cypriot banks extraordinarily hard, leaving the sector with an NPL-ratio soaring to a frightening level of 54% in 2014. In subsequent years, the ratio was reduced to
The Transport Ministry has launched a scrappage incentive scheme to encourage Cypriot motorists to replace their old high-emission bangers with new eco-friendly cars, preferably electric ones. The Road Transport Department has published
Cyprus is among the top five EU countries where people didn’t purchase goods or services online because they were suspicious over privacy and security concerns. Among EU Member States, the share of
The island’s two largest lenders, Bank of Cyprus and Hellenic Bank, actively pursuing sales of €4 bln of bad loans would improve their asset quality metrics, accelerating the derisking of their balance
Larnaca will see its fair share of new developments with several luxury high-rise building projects, hotels and a shopping mall being built by local and foreign investors. Once lagging behind other towns
Cyprus’ Parliament on Friday approved an amendment to the rent control law making it easier for landlords to evict tenants who fall into arrears or deliberately don’t pay their dues. A majority
Debt Acquiring Companies have made their presence felt in Cyprus by changing the banking landscape and possibly having a future effect on the real estate market after acquiring asset-backed NPLs worth €14 bln.
