A report on Cyprus by the Council of Europe`s Committee of Experts for the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) is due in December. A MONEYVAL delegation carried out an onsite visit to Cyprus from 13-24 May. The delegation was composed of experts with a legal, law enforcement and financial
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Turkey must refrain from illegal actions in Cyprus Exclusive Economic Zone and normalise relations with Nicosia, said key findings in the EU report on Turkey’s accession progress. The European Commission said it does not envisage opening new negotiating chapters or modernizing the Custom’s Union, calling on Turkey to fulfil its obligations to normalise relations with
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Six years on from the financial crisis and meltdown of the Cyprus banking sector that saw a haircut on deposits, Russian capital now seeks a new home outside the island. A total of EUR 14.65 bln in deposits belonging to Russian citizens have fled the country’s banking system since 2012 in what is believed to
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GRETA, a Council of Europe team of experts on combating human trafficking, believes more can be done to support victims of trafficking in Cyprus in its annual general report on global activities. The final GRETA report specifically on Cyprus is expected to be ready in March 2020. In Cyprus, the report says, there is a
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Hermes Airports, operators of Cyprus airports, are eyeing a record 11 million passengers for 2019. Confident in Cyprus’ value as a tourist destination, Hermes Airports feel that they will be able to break last year’s record of 10.94 million passengers this year. Talking to Phileleftheros daily, Maria Kouroupi, senior manager at Hermes Aviation Development, said
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In 2018, the EU employment rate of persons aged 20-64 years ranged from 65% among persons born outside the EU, through 74% among the native-born population, to 77% for those born in another EU Member State. In Cyprus, employment of native-born staff was above the EU average at 75.2%, while it was 71% for hiring
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Maravilhosa is returning to the events scene this week with a facilitated brainstorming gathering various industries and generations. The event is an audience discussion aimed at generating ideas and concepts for participants to develop and bring them to the level of implementation. Hosted by Cyprus Marine Club at the Londa in Limassol on Tuesday evening,
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. AT the close of business last Thursday, the Pound Sterling had fallen in value for 13 days in a row. In a parting snub to Theresa May, the currency steadied on Friday after the British Prime Minister announced the date of her resignation. Further falls can be expected, however., in what appears to be
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New career opportunities have opened up as Melco expands its Cyprus satellite casinos in Ayia Napa, Nicosia and Limassol. Melco is behind City of Dreams Mediterranean; Europe’s first integrated casino resort being built in Limassol. With 800 Melco employees in Cyprus already – the vast majority of them Cypriot citizens – the company is now
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A small increase of 0.4% in deposits in Cyprus banking institutions was recorded in April 2019 after a drop in March said the Central Bank, while loans recorded a decrease. According to Cyprus Central Bank data, deposits increased by EUR 236.9 mln to 47.7 bln from 47.5 bln in March. In March 2019, deposits were
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