NICOSIA - Sanctions imposed by the United States and the United Kingdom on wealthy Russians who have deposited their funds in Cyprus, along with their connection to Russia's invasion of Ukraine, have profoundly impacted the new government, particularly affecting the service sector comprising accounting and law firms.
NICOSIA - Law and accounting firms in Cyprus have aided wealthy Russians in evading American and British sanctions, concealing their assets and alleged connections to President Vladimir Putin.
NICOSIA — The European Union's executive branch aims to investigate why Cyprus has frozen only 100 million euros ($110 million) worth of assets belonging to Russians facing sanctions amid the war in Ukraine, according to the bloc's justice commissioner on Thursday.
NICOSIA - The essential end of COVID-19 pandemic health restrictions to lure tourists has worked on Cyprus – as it did on Greece – with national flag carrier Cyprus Airways reporting a 558 percent increase in passengers in March over the year before.
NICOSIA - Embarrassed by revelations that Cypriot companies and individuals were helping Russian oligarchs evade American and British sanctions, banks have frozen the accounts of more than 4,000 of them and more might be coming.
NICOSIA - The scandal surrounding the crash of FTX in the world of cryptocurrency, which fluctuates wildly between boom and bust, hasn't discouraged Cypriots from still taking a chance on it.
NICOSIA - With the COVID-19 pandemic in the rearview mirror and tourism expected to surge on the island, Cyprus Airways reported encouraging numbers, with a significant increase in passengers for February, a typically quiet month.
NICOSIA – Ten years after a near economic collapse of Cyprus and its financial institutions that required a 10-billion euro ($10.
NICOSIA — A consortium made up of energy companies Eni of Italy and France’s Total is expediting plans to develop natural gas deposits off Cyprus following the discovery of a third field containing 2-3 trillion cubic feet of the hydrocarbon inside the same licensed exploration area, the Cypriot energy ministry said Wednesday.
NEW YORK - In a boost to Cyprus' shipping industry , a major ship-owning company registered in Bermuda and listed on the New York Stock Exchange has reportedly initiated the transfer of its activities to Cyprus.
NICOSIA – It may be moot but Cyprus' securities regulator CySEC said it would not lift the license suspension of the bankrupt FTX EU cryptocurrency company whose leader has been arrested in The Bahamas, where it is headquartered.
NICOSIA — Israel and Cyprus said Monday that they have made “significant” headway in resolving a long-running dispute over an offshore natural gas deposit and say they are committed to quickly reaching a deal as Europe looks for new energy sources.
NICOSIA - It’s not just the endless failure to reunify the island split by unlawful 1974 invasions that is making more Turkish-Cypriots giving up and leaving, but the faltering economy as the homeland Turkey has record inflation.
NICOSIA - Cyprus wants the island’s red potato to get the European Union’s approval for a Protected Designation of Origin (PDO) product that was given to the so-called white gold halloumi cheese that doesn’t melt when grilled.