Posts tagged with "European Commission"

Estia green light from Brussels, not considered ‘state aid’ Property

Estia green light from Brussels, not considered ‘state aid’

December 3rd, 2018   The European Commission on Monday approved, under EU state aid rules, Cyprus’ controversial Estia scheme to support private households and small businesses that have encountered difficulties in repaying mortgage loans and risk losing their primary residence. The scheme, which the commission said has an annual budget of...
EU executive rejects Italian 2019 draft budget Europe

EU executive rejects Italian 2019 draft budget

October 23rd, 2018 The European Commission rejected on Tuesday Italy's draft 2019 budget because the plan breaks EU rules in an "unprecedented" way and asked Rome to submit a new one within three weeks or it would face disciplinary action The decision by the European Union executive arm is the first time it exercises the power, obtained during the...
EU official holds meetings over cybercrime Crime

EU official holds meetings over cybercrime

July 16th, 2018 European Commissioner for the Security Union Julian King is set visit Cyprus on Tuesday and meet with Justice Minister Ionas Nicolaou. The two are set to discuss security related issues such as the fight against terrorism, organised crime and cyber security. According to a press release by the EU Commission, King will have a...
European Commission sees rising fiscal risk in Cyprus Cyprus

European Commission sees rising fiscal risk in Cyprus

July 6th, 2018 Fiscal risks to Cyprus’ outlook have increased considerably due to the uncertainties surrounding the sale of the Cyprus Cooperative Bank and the associated government bond issuance, the European Commission said in its post-programme surveillance report. “The macroeconomic situation and outlook remain very positive although the...
EU parliament urges Commission to act against Poland Europe

EU parliament urges Commission to act against Poland

June 14th, 2018 Five of the main political groups in the European Parliament urged the European Commission on Thursday to open infringement proceedings against Poland and to take it to the European Court of Justice to stop planned judicial reforms. The call by the leaders of the centre-right European People's Party, the centrist Liberals, the...
Former English School student back for presentation School news

Former English School student back for presentation

June 6th, 2018 EU Back to School is an inter-institutional initiative whereby European Union officials go back to their former secondary school in their hometown, and discuss their work and Experiences in the EU. Irene Kyriacou Haller visited her old school, Nicosia English School. She presented her work during a Year 3 assembly and then had an...
EU Commission regrets Afrika violence Cyprus

EU Commission regrets Afrika violence

May 3rd, 2018 The European Commission is aware of the intimidation of Turkish Cypriot newspaper Afrika and regrets the violence of protesters against the newspaper’s offices, EU Commissioner Johannes Hahn said in a written response to a question submitted by MEPs. “Harassment and intimidation of journalists constitutes a violation of freedom of...
EU officials on visit to monitor use of fragile protected areas Cyprus

EU officials on visit to monitor use of fragile protected areas

April 25th, 2018   In the wake of heated protests over development in a protected area near Peyia, representatives of the environmental branch of the European Commission are in Cyprus for two days to discuss how to protect fragile protected species and habitats in Natura 2000 areas on the island. The visit on Wednesday and Thursday aims to...
Cyprus cannot afford to become complacent, EU officials tells MPs Cyprus

Cyprus cannot afford to become complacent, EU officials tells MPs

April 24th, 2018 Despite the economic recovery, Cyprus cannot afford to get complacent in regard to necessary structural reforms, a senior European Commission official told local MPs on Tuesday. “Cyprus is in a comfortable position, with high growth, new jobs, the fiscal position is under control, non-performing loans remain at high levels but are...
Harshly critical, EU tells Turkey to commit to neighbourly relations Cyprus

Harshly critical, EU tells Turkey to commit to neighbourly relations

April 17th, 2018 The European Commission on Tuesday urged Turkey to commit itself unequivocally to good neighbourly relations and the peaceful settlement of disputes, while the EU’s top official said the country if moving rapidly away from the path of European Union membership as Brussels delivered its harshest criticism yet of Ankara’s shift towards...
Government aims to double industry’s share of GDP by 2030 Business

Government aims to double industry’s share of GDP by 2030

April 16th, 2018 The government on Monday announced the launch of a long-term industrial strategy policy, aiming to double industry’s share of gross domestic product by the year 2030. The strategy was unveiled at a colloquium in Nicosia under the rubric ‘Designing the industry of the new era’. “Our main objective, in implementing our new...
Commission pledges to act to ensure safety from power plant in Turkey Cyprus

Commission pledges to act to ensure safety from power plant in Turkey

April 9th, 2018 The European Commission is aware of Turkey`s plans to build a nuclear power plant in Akkuyu, following the announcements made by Turkish President Recep Tayyip Erdogan and Russian President Vladimir Putin, and will act to ensure "the safety of European citizens", the Commission's spokeswoman Anna Kaisa Itkkonen said on Monday, responding...
Energy, security, terrorism and migration, top Varna Summit agenda Turkey

Energy, security, terrorism and migration, top Varna Summit agenda

March 26th, 2018 "Cooperation in energy, security, the fight against terrorism and migration management and the EU's assistance for refugees in Turkey as the EU-Turkey Statement continues to deliver results", will be the main aspects of the EU-Turkey meeting to take place later today in Varna (Bulgaria), hosted by Prime Minister Borissov, according to a...
Use of foreclosure in Cyprus weak says European Commission Cyprus

Use of foreclosure in Cyprus weak says European Commission

March 13th, 2018 Private debt in Cyprus continues to be among the highest in the EU, in no small part due to the limited use of the insolvency and foreclosure frameworks, the European Commission has said. Reporting on Cyprus in its 2018 European Semester review, the Commission said the debt held by non-financial corporations and households decreased...
UCy doctoral teaching and research staff take fight to Brussels Cyprus

UCy doctoral teaching and research staff take fight to Brussels

February 13th, 2018 The union of adjunct doctoral teaching and research staff (Dede) at the University of Cyprus has taken its demands for better working conditions to the European Parliament, it was announced on Tuesday. Ensuring decent working conditions for young scientists is a guarantee to improve and broaden the research and teaching framework and...
EU Commission expects growth to moderate at 3.2% this year Cyprus

EU Commission expects growth to moderate at 3.2% this year

February 7th, 2018 The European Commission said that it expects economic growth in Cyprus to moderate to 3.2 per cent this year and to 2.8 per cent in 2019 after reaching 3.8 per cent in 2017. “The economy’s robust performance can be attributed to strong private consumption and solid export growth, as well as some support from public consumption,”...
European Commission launches cohesion consultation Cyprus

European Commission launches cohesion consultation

January 13th, 2018 The European Commission launched this week a public consultation on EU funds in the area of cohesion policy. The objective of this public consultation is to collect the views of all interested parties on how to make the most of every euro of the EU budget. The feedback provided through the consultation is essential for the future...
Innovative solutions for non-performing loans Cyprus

Innovative solutions for non-performing loans

November 12th, 2017 By Erol Riza   One may be forgiven for wondering why there is a sudden interest by various stakeholders and economists in the persistent problem of non-performing loans (NPLs). Gross NPLs are in excess of €20 billion, or more than 100 per cent of gross domestic product, the highest in the EU. The politicians who claim...
The fuel no-one wants but the government must sell Cyprus

The fuel no-one wants but the government must sell

October 8th, 2017 A new waste management scandal is brewing, this time over the waste treatment unit in Pentakomo, in the Limassol district, which is slated to open on October 28. Just weeks before it opens no buyer has yet been found for the fuel the waste treatment plant will be producing, and it was only last week that the government rushed to...
EU takes Ireland to court for not claiming Apple tax windfall Business

EU takes Ireland to court for not claiming Apple tax windfall

October 4th, 2017 The European Commission said on Wednesday it was taking Ireland to the European Court of Justice for its failure to recover up to €13bn of tax due from Apple Inc, a move labelled as "regrettable" by Dublin. The Commission ordered the US tech giant in August 2016 to pay the unpaid taxes as it ruled the firm had received illegal state...
Stricter controls on agents selling investor passports Business

Stricter controls on agents selling investor passports

September 26th, 2017 The government is in the process of revising its citizenship-through-investment scheme, following complaints voiced by European politicians and negative press coverage abroad. It’s understood the tweaks will mainly involve imposing stricter controls on intermediaries, who receive a handsome commission. These are either real estate...
EU calls on Cyprus to transpose outstanding directives Cyprus

EU calls on Cyprus to transpose outstanding directives

July 13th, 2017 The European Commission called on Cyprus on Thursday to take steps to adopt measures and directives concerning among others the automatic exchange of tax rulings between EU authorities. In total, Cyprus received five reasoned opinions, giving it two months to fulfil its obligations to transpose measures on marketing standards for...
Cyprus warned over new bird trapping law Cyprus

Cyprus warned over new bird trapping law

July 3rd, 2017 The European Commission has told Cyprus that it is ready to enforce the Birds Directive if the new hunting law is judged not compliant, Enrico Brivio, EC spokesman, told CNA on Monday. In a follow up to the adoption of new legislation on Friday, Brivio told CNA that "the commission is closely following the issue of the protection of...
EU fines Google record $2.7bn in first antitrust case Business

EU fines Google record $2.7bn in first antitrust case

June 27th, 2017 EU antitrust regulators hit Alphabet unit Google with a record €2.42bn fine on Tuesday, taking a tough line in the first of three investigations into the company's dominance in searches and smartphones. It is the biggest fine the EU has ever imposed on a single company in an antitrust case, exceeding a 1.06-billion-euro sanction...
EU raises euro zone growth forecasts, sees unemployment to drop Europe

EU raises euro zone growth forecasts, sees unemployment to drop

May 11th, 2017 The European Commission revised upward its forecasts of euro zone economic growth this year and projected a lower unemployment rate, in new signs that the bloc's recovery is gathering pace, data released on Thursday showed. The 19-country currency bloc is expected to expand by 1.7 percent this year and 1.8 percent in 2018, the EU...
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