News

Negotiations regarding the unification of Cyprus continues

Gas reserves of copper and gold in Cyprus forced the leaders of the Greek and Turkish communities to intensify negotiations. By no coincidence, Joe Biden, the Vice President of the United States flew to Cyprus several times and stated that the relationship between the Turkish and Greek communities is complex.


Direct flights from China to Cyprus set to be implemented

The Government of Cyprus is negotiating with Chinese airline China East Airlines to arrange for direct flights to Larnaca from Shanghai. It is hoped this will encourage more Asian tourists to visit Cyprus and Europe in general. Perhaps, soon we will be celebrating the opening of “Little China” in Cyprus…


Statistics on traffic accidents in Cyprus

According to statistics, traffic police are among those killed in road accidents in Cyprus, 80% of which are men. If this matter further continues, then men will need to be imported into to Cyprus!


Government will repay €750m of Laiki bonds to BoC

The finance ministry released a statement notifying the Bank of Cyprus that on June 9th, 2015 they will partially repay a €1.1B bond it is currently holding that was issued in 2012 which was needed at the time to recapitalise Laiki bank (also known as Cyprus Popular Bank) the lender stated.


Interest rates drop for mortgages in Cyprus, while deposits are rising

Interest rates for mortgages and business loans exceeding €1m in the Cypriot banking system dropped to just over 3% respectively in April, from 4% during the previous month, which are both all-time lows, the Central Bank of Cyprus said. Conversely, borrowers saw the cost of consumer loans rise in April…


Energy Ministry in Cyprus have declared commerciality over “Aphrodite”

The natural gas field discovered in Cyprus` economic zone (EEZ) which has been nicknamed “Aphrodite” has been confirmed to be for commercial use by the three companies that currently own the rights of the field: Noble Energy International Ltd, Delek Drilling Limited Partnership and Avner Oil Exploration…


The arrest of a Limassol based Lawyer

A Cypriot lawyer has been found guilty of embezzling €500,000. His clients from the United States and Britain voluntarily surrendered the illegal activities to the police. The investigation was launched due to the fact that clients complained to withdraw funds from bank accounts on behalf of their abandoned…


European Commission to investigate tax evasion in Cyprus

The EU is sponsoring the research and will prepare recommendations on the fight against tax evasion in Cyprus. To this end, tax specialists arrived in Cyprus who will carry out studies and investigations, making recommendations based on the findings. They will be conducted using EU funded initiatives.…


The Cypriot visa program for property investment accrued €2B in 2 years

The relevant provisions of the program conclude that anyone who buys property in Cyprus automatically receives a visa, which is clear that without the right to work, but to live in Cyprus. The minimum amount required to be spent on the acquisition of Cyprus property is only €300,000 is gradually gaining…


The police interviewed the head of the Central Bank of Cyprus

The police interrogated the head of the RoC’s Central Bank of Cyprus regarding the published data on non-performing loans to members of the Cypriot Parliament. According to information leaked to the press members in the Cypriot parliament are in arrears to the BOC and other Cypriot banks near to the…