Micro News

A Dutch family has sold their home, two cars, motorbike and their business snd invested the money in bitcoin. 39 year old Didi Taihuttu is now living in a camping ground with his family as he says that the family is “putting everything into bitcoin”. 3 months ago, Taihuttu, his wife and three daughters…


Pafilia awaits Paphos Marina decision

The head of the Paphos Chamber of Commerce and Industry has stated that the Pafilia Group are waiting to hear whether they have met the required criteria to build a long-anticipated marina in Paphos. A decision is expected before the end of October, according to other sources. Pafilia was required to…


The UK former foreign minister, Jack Straw, believes that a solution to the Cyprus problem involving a bizonal and bicommunal federation is unattainable. Straw believes this is due to “Greek Cypriot intransigence” and that the only answer is a two-state solution. And so, Straw proposes the solution…


The government-backed scheme which was created to protect primary residences has been unsuccessful. The initiative was intended for subsidising mortgage payments for those who have been affected by unemployment or a reduction in income. Moreover, it was due to be put into action by the Cyprus Land Development…


The European Central Bank (ECB) has initiated a proposal to ask Euro area banks to reserve more cash in order to cover bad loans, according to a recent draft of the proposal. This now makes it greatly expensive for lenders to keep sitting on the bad loans. Unfortunately, the soured loans are filling…


The Cyprus-Russia intergovernmental committee have recently signed a protocol presenting the possibilities to strengthen their cooperation. This will include information technology, medical services, industrial cooperation, innovation, transport and telecoms. The Cypriot Finance Minister Harris Georgiades…


ACFE Cyprus has stated that their objectives are to play an important part in the effort to combat fraud in Cyprus. In efforts to promote training and spread knowledge to members, the chapter has said that they are the key component for preventing corruption and fraud in Cyprus. The Internal Audit Director…


Further reduction of Cypriot NPLs

The Cyprus Banking sector is making considerable efforts in order to further reduce the amount of non-performing loans by restructuring NPLs, where there appear to be viable restructuring options, or, in some cases, by writing-off .



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