Micro News

A Singapore woman was found guilty of money laundering offences has been sentenced to 29 months in prison by the Singapore authorities. The criminal actions were uncovered after the Commercial Affairs Department discovered over 40 falsified wire transfers totaling approximately SGD $417,000, being sent…


It seems that the opposing political parties in Cyprus are being further divided by new legislation; this time over the expansion of the housing loan system. The government tried to impose an amendment that effectively licenses and supervises non-credit institutions offering housing loans, stating that…


Former House speaker for the Cyprus Committee has condemned a recent controversial arms trade deal between Russia and Turkey. He has spoken out putting pressure on officials in Cyprus to issue a political march to denounce Russia over the country’s plans to sell Turkey an anti-aircraft modal missile…


Bank of Cyprus, the island’s largest lender said that it generated in the first six months of the year a net loss of €554m compared to a net profit of €54m in the respective period of 2016 on increased provisions. The after-tax loss from January to June 2017 was on a €555 million loss posted in Q2 of…


The remand of a Russian man in Cyprus wanted by the Russian authorities for charges relating to fraud, conspiracy, theft and money-laundering in 2010 has been extended this week, which has been ordered by the Paphos district court last week. The man, who was arrested in Paphos will remain in custody…


The Cyprus Justice Minister has announced a decision approved by the cabinet to minors (under the age of 18) who have broken the law or committed a misdemeanor from now on will be reprimanded without involving the judicial system. This marks the start alternative legal processes for young offenders in…


The Cyprus Tourism Organisation (CTO) shared figures last week which showed the aggregate total profits for Q1 and Q2 in Cyprus have now reached a record of almost €1 billion. The CTO remarked that the increase in revenue specifically in the month of June amounted to a rise of 15% and profits of €346…



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