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Cyprus and Greece to Set Up Cooperation and Coordination Mechanism On Economic Issues

Finance Minister Harris Georgiades announced Monday that Cyprus and Greece would set up a mechanism of cooperation and coordination on matters related to their economies and the EU agenda, following a meeting with his Greek counterpart Christos Staikouras, in Nicosia, the CNA reports. Georgiades said that the economic policies of the two countries were significantly aligned wi...

International Tuesday, 15 October, 2019

Cypriot and Jordanian firms explore investment opportunities

Cyprus and Jordanian firms gathered for the first time in Nicosia for a two-day business forum to explore investment opportunities in Jordan and to promote collaboration. The forum is organized by the Employers and Industrialists Federation (OEB). Cyprus’ investment potential and its advantages as a business and investment centre were analysed by Invest Cyprus chairman ...

International Saturday, 12 October, 2019

Germany worried over Turkey's activities in Cyprus EEZ

German Chancellor Angela Merkel has expressed her concern over Turkish activities in Cyprus’ Exclusive Economic Zone (EEZ) and the need for international law to prevail. She communicated Berlin’s position during a telephone conversation with Cyprus President Nicos Anastasiades. A written statement about the exchange, said Anastasiades "informed the Chancellor over...

International Friday, 11 October, 2019

Italy slams Turkey's incursion into Cyprus EEZ, offers support

Italy Prime Minister Giuseppe Conte has condemned Turkey’s violation of Cyprus’ sovereign rights and international law, voicing Rome’s full solidarity inside the EU.    This was conveyed in a telephone conversation Conte had Wednesday with Cypriot President Nicos Anastasiades. Government spokesman Prodromos Prodromou said “the President info...

International Thursday, 10 October, 2019

Some 15,000 British expats applied for residence permits since Brexit vote

Nearly 15,000 British nationals have applied for residence permits in Cyprus since the 2016 Brexit referendum. Currently a total of 32,281 residence permits for UK citizens are in force, according to figures provided to the Cyprus News Agency by the Civil Registry and Migration Department. Since 1 July 2016, 7,801 UK nationals applied for a Registration Certificate (MEU1) and...

International Thursday, 26 September, 2019

Cyprus extends deadline for expats to seek residency if hard Brexit

The British High Commission has welcomed Nicosia’s decision to extend the deadline for UK nationals living in Cyprus to apply for residency in the advent of a no-deal Brexit. Nicosia decided that in the case of a no-deal Brexit, UK nationals and their family members resident in Cyprus before 31 October 2019, retain the right to continue to submit applications and obtain ...

International Friday, 20 September, 2019

Pound roars back to life as Johnson loses control of Brexit

International credit rating agency DBRS says Cyprus is among a group of European countries in which the outstanding mortgage debt as a percentage of GDP has shrunk between 2008 and 2019. Given how the Pound remains extremely sensitive to political and Brexit developments, more action will be on the cards Thursday afternoon as Johnson will “speak directly to the public, s...

International Friday, 06 September, 2019

Universal access bonds 'transform investment landscape' for expats

New financial products that will dramatically alter the investment landscape for US expats living in Cyprus and across the globe have been launched. Universal Access Bonds (UABs) are described as “a game changer” for American expats and US connected persons by the CEO of Woodbrook Group Holdings Michael Doherty. FACTA and stringent tax regulations over the past de...

International Friday, 30 August, 2019

Cyprus and North Macedonia to establish diplomatic relations

The Foreign Ministers of Cyprus and North Macedonia, Nikos Christodoulides and Nikola Dimitrov, are expected to sign at the end of August an agreement that will establish diplomatic relations between the two countries. CNA reported that the two ministers are expected to sign the accord in the framework of the informal meeting of the EU Foreign Affairs Ministers that will take ...

International Tuesday, 20 August, 2019

Commission Takes Further Steps to End Illegal Tax Breaks in the Italian and Cypriot Yacht Industries

The Commission is today taking further steps to end illegal tax breaks in the yacht industries of Italy and Cyprus, first brought to light in the Paradise Papers leaks. Today's legal proceedings also form part of the Commission's ongoing efforts to stamp out unfair tax avoidance practices in the EU. As part of today's infringement package, the Commission has decided ...

International Saturday, 27 July, 2019

Cyprus’ Borrowing Cost Continues Downward Trend

The borrowing cost of the Republic of Cyprus is continuing its downward trend, as the ten-year bond yield has fallen to historically low levels in recent months, the Cyprus News Agency reports.   The 10-year Cypriot bond with a 2.38% coupon issued in September 2018 hit a new historic low of 0.824%, from 0.92%, 10 days ago. The yield of the 10-year bond fell by 51.2 basis ...

International Tuesday, 18 June, 2019

Cheaper Calls to Other EU Countries as of 15 May

As of 15 May, a new maximum price will apply for all international calls and SMS within the EU. As a result, consumers calling from their country to another EU country will pay a maximum amount of 19 cents per minute (+VAT) and 6 cents per SMS message (+VAT). Following the end of roaming charges in June 2017, these new price caps for international calls and SMS in the EU are ...

International Wednesday, 15 May, 2019