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Finance minister says Hellenic guarantees manageable
Finance Minister Harris Georgiades said that the government guarantees to Hellenic Bank, part of its agreement to acquire the Co-op’s operations, are fiscally manageable, the Cyprus News Agency...
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Estia beneficiaries may receive up to 50% relief, official says
A senior finance ministry official said on Wednesday that Estia, the scheme designed to help struggling borrowers repay their loans, may provide a reduction of up to 50 per cent in their debts, coming...
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Refugees seek European justice after losing compensation claim
A refugee couple who sued the state for compensation but lost, vowed on Wednesday to take their case all the way to the European Court of Human Rights. Thomas and Eleni Kaoullas, refugees from...
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A solution must provide security for all, says president
A state’s ability to provide security to its citizens is the element which will contribute to the smooth functioning of the state the day after a solution, President Nicos Anastasiades said in his...
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House to convene on Sunday over co-op, other bills (Update 1)
Parliament will convene in a special session on Sunday to discuss and vote on a series of bills including state guarantees that will make the co-op-Hellenic Bank deal possible, new provisions to tackle...
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Unfair Estia preserves mediator status of politicians, economist says
The handling of the current banking crisis focuses on addressing the symptoms, not the causes of what caused it, and may strengthen expectations among borrowers that failing to honour obligations will...
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Co-op investigation mandate published
A three-member panel has been tasked with carrying out a full and thorough probe to determine the actions, decisions or omissions that drove the co-op bank to the ground, according to the terms of...
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‘Important weeks ahead’ for Cyprus problem, UN says (Update 2)
Important weeks lie ahead for the Cyprus problem as the two sides on the island prepare for the arrival of a UN envoy who will determine whether there are grounds for the resumption of reunification...
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Neophytou says challenging foreclosures in court possible
Chairman of the parliamentary finance committee and president of Disy Averof Neophytou said that a number of political parties have agreed to give borrowers the right to challenge foreclosures in...
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Woman dies in fall at home
A 71-year-old woman from Liopetri died on Friday after falling off a ladder at her home, police said. Panayiota Savva was found by her son at 5.20pm lying on the floor in the living room at the foot of...
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Disy chief says opposition trying to make bills ‘toothless’
Ruling Disy chief Averof Neophytou expressed optimism on Saturday that key bills necessary for the stability of the financial sector would be approved by parliament in its special session on Sunday but...
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Paraskevaides siblings take control of J&P overseas, cancel demerger (updated)
Construction giant Joannou and Paraskevaides Overseas said it was abandoning any plans to demerge after the appointment of Leoni Paraskevaidis and Efthyvoulos Paraskevaides to the board of directors of...
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No need for high rise buildings in Paphos district
After it was revealed this week that Paphos municipality has received ten applications for high-rise buildings, a 500-strong group Movement to Save Paphos says there is no need for such construction in...
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Top halloumi producer fighting for survival despite boom
Pittas cheese manufacturer, one of the oldest dairy product producers in Cyprus and famous for its halloumi, feta and yoghurt, has amassed debts in excess of €3m which forced it to stop production for...
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Rollercoaster ride at Cyprus’ first casino [VIDEO]
Over 7,000 people have already visited C2, but owners are aware of future challenges It is just over a week since Cyprus’ first legal casino began operations and although it has attracted thousands...
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House plenum approves state guarantee for Co-op agreement (Update 5)
The House plenum approved on Sunday a bill providing for a state guarantee needed for the acquisition of certain parts of the Co-op bank by Hellenic to go through. The proposal passed with 32 votes for...
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With NPL laws in place, Georgiades ready to resign over Co-op
Finance Minister Harris Georgiades said that he offered President Nicos Anastasiades his resignation days ago after opposition politicians asked for the assumption of the political responsibility for...
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Afternoon work for judges to clear court case logjam
A number of judges will be appointed to work in afternoons in an attempt to settle long-pending court cases some of which date back to 2011, Justice Minister Ionas Nicolaou said on Monday. The justice...
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Unions demand dialogue over changes to teaching hours
Schools will not open in September with the ministry of education in charge if there is no comprehensive dialogue on changes to teaching hours, the three teachers unions Oelmek, Poed and Oltek decided...
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Boris Johnson quits in protest over May’s Brexit plan (Update)
Foreign Secretary Boris Johnson quit on Monday over Prime Minister Theresa May’s plans to leave the European Union, the second resignation in a day, leaving the British leader’s Brexit plans in crisis....
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