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CBC instructs banks not to compound interest during loan repayment moratorium

A general implementation on loan repayments will not be considered as restructuring and the banks are not to assess a possible loss in the...

Government needs to preserve fiscal firepower amid Covid19 uncertainty, says Fiscal Council

The state needs to preserve its fiscal buffers and must not spend all of its reserves early as no one can predict the extend...

Fitch’s rating action highlights Cyprus’ responsible fiscal management, FinMin says

The announcement of Fitch rating agency on Cyprus long term rating highlights the government’s responsible management both of the economy and the public finances...

Fitch revises Cyprus’ outlook to stable, affirms at BBB-

Fitch has revised Cyprus' outlook to stable from positive to reflects the significant impact of the global COVID-19 pandemic on Cyprus's economy and on...

Cyprus high-tech and Fintech companies donate €1m to support local hospitals

A consortium of IT, software and Fintech companies have donate medical supplies and money to strengthen the preparedness of the Cyprus medical system to...

Lavrov: Move to change double tax agreement concerns all EU states

The Russian Federation’s proposal to increase the withholding of tax for dividends and interest income was submitted to all EU member-states with which Russia...

Hellenic Bank announces measures to support public and economy amid crisis

Hellenic Bank said on Friday it is deploying a strategic plan to support the public and the economy from the adverse consequences of Covid-19. As...

‘No political considerations in Russia’s request to amend tax agreement’

There are no political considerations in Russia's request to amend the double taxation avoidance agreement between the Russian Federation and the Republic of Cyprus,...

Parties’ alternatives to state-guaranteed loans submitted by Monday

Discussion before Friday’s House plenum on a government scheme to guarantee loans worth €2bn has been postponed since political parties are set to submit...

Coronavirus speeds up electronic banking use in Cyprus

Remote electronic bank transactions are on the rise in Cyprus due to the coronavirus outbreak with less and less clients opting to have physical...

Cyprus plays Russian tax roulette

The Ministry of Finance and services sector professionals in Cyprus are puzzled over the ultimatum sent from Moscow demanding the renegotiation of the double...

FinMin official calls for savings in public spending ahead of budget overhaul due to crisis

Cyprus Finance Ministry Permanent Secretary called on Ministries to slash public spending this year ahead a pending budget overhaul due to the crisis caused...

BoC offers customers new card facilities

As part of broader efforts to ensure the safety and wellbeing of its customers and staff alike from Covid-19, and in line with its...

Inflation up 0.7% in March

Cyprus inflation rose 0.7% in March as the Statistical Service of Cyprus reported on Wednesday. In March 2020, the Consumer Price Index increased by 0.11...

More than 7,000 requests to suspend loans so far, banks say

The two largest banking institutions on the island, Bank of Cyprus and Hellenic Bank, told CNA on Thursday that until this morning more than...

EasyJet founder calls for removal of non-executive director

Stelios Haji-Ioannou, the founder of easyJet, has called for a board meeting to remove independent non-executive director Andreas Bierwirth. The British budget airline said it...

MoF issues answers to FAQ on loan suspension and contact details of banks

FAQ 1. Where can I find the form? The form can be found here: http://mof.gov.cy/assets/modules/wnp/articles/202003/615/docs/ekdilosi_endiaferontos.docx 2. How do I submit the form? Can I send it by email or...

Government already stands by employees, says FinMin

Opposition parties in Cyprus are putting pressure on the government to further boost the real economy which is suffering from the coronavirus effects by...

BoC announces measures to support public amid crisis

Bank of Cyprus announced on Wednesday a list of measures to help tackle the financial consequences of the Covid-19 crisis, noting that employment, equal...

Moscow officially asks Nicosia to renegotiate double taxation treaty

Moscow has officially informed Nicosia that the double taxation treaty between the two countries needs to be renegotiated, Phileleftheros reports. The request from Russian Deputy...

C. Zorbas: A lot of businesses will collapse

Many businesses in Cyprus will collapse now that everything has been shut down in order to slow the spread of the coronavirus, Zorbas Bakeries...

Top Stories

Germany to go into circuit-break lockdown as virus cases surge

  Germany will impose an emergency month-long lockdown that includes the closure of restaurants, gyms and theatres to reverse a spike in coronavirus cases that...

1547-Highest ever number of new covid cases in Greece-deaths on the rise

  Greece recorded one thousand five hundred and forty seven new coronavirus  cases over the past 24 hours, the highest ever number since the start...

Huge 8500 euro fine for unmarked tobacco products

  A twenty nine year old was fined 8 and a half thousand euro for unmarked tobacco products that were discovered by police at his...

Ankara provocatively announces Varosha works, as Turkish minister illegally visits

  Turkey's Environment and Urban Planning minister Murat Kurum, illegally visited the fenced off city of Famagusta, accompanied by a delegation, the latest in a...

Germany and France prepare new lockdowns as COVID sweeps Europe

  Germany and France were preparing to announce restrictions approaching the level of last spring’s blanket lockdowns, as COVID deaths across Europe rose almost 40%...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...