Cyprus cannot afford to become complacent, EU officials tells MPs
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...
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EAC wants another €45 million for this year
The state-owned Electricity Authority of Cyprus (EAC) is requesting an additional €45 million for this year, mostly to cover the higher-than-expected cost of fuel purchases...
Finance committee wraps up discussions on banks and real estate
The House finance committee on Monday concluded discussion of amendments to the Business of Credit Institutions Law, which allows banks to manage real estate properties...
Cheaper fuel discussed in House
The government is not prepared to reduce fuel taxes unless other measures are put in place to offset the loss in revenue, the House finance...
MPs warn banks over controversial Swiss franc loans
By Angelos Anastasiou Although a decline has been recorded in controversial Swiss franc loans in the first half of the year, deputies on the House...
Public-service reform bills sent back to Legal Service
All seven government bills aimed at reforming public service were referred back to the Legal Service by parliament on Tuesday, in order to establish whether...
Our View: Encouraging signs from new House finance committee
THE HOUSE finance committee displayed a very businesslike approach, during its first meeting after the elections, which was attended by Finance Minister Harris Georgiades. The...
Georgiades will try to win over new House finance committee to help push reforms
Finance Minister Harris Georgiades was quoted on Sunday as saying he would be doing his best to win over the new House finance committee so...
Doctors call off strike but limit number of patient visits (Update 3)
Following a six-hour work stoppage on Monday, state doctors union PASYKI announced that it would suspend further industrial action as a sign of goodwill but...
MPs in budget discussion focus on economic challenges
By Andria Kades Cyprus’ economy is beginning to recover, the House finance committee said on Monday after reviewing a draft report of the state budget...
Georghadji sees growth after fiscal imbalances, bank supervision gaps addressed (Updated)
By Stelios Orphanides The Cypriot economy will have to grow at a pace of 3 per cent for up to 5 years before Cypriot banks...
No idea when NHS will be ready, MPs are told
The government’s aim is to implement the national health system as soon as possible, Health Minister George Pamboridis said on Thursday, but could not give...
Econ probe partly held up by other countries, MPs told
By Angelos Anastasiou Investigations into the collapse of the economy get held up on requests for legal assistance from other countries, lawmakers on the House...
Forestry officials call two-hour strike over proposed staff cuts
Forestry officials will stage a two-hour strike on Monday during discussions at the House finance committee on the agriculture ministry’s 2016 budget, which foresees slashing...
Public projects delayed due to contract scandals
By George Psyllides THE rate of completion of infrastructure projects was especially low in 2015, mainly because of problems with several of the contractors that...
Borrowers slam CBC stance on foreign currency loans
By Andria Kades The Borrowers Association slammed the Central Bank of Cyprus (CBC) on Tuesday accusing it of not properly regulating banks when they were...
Legislating Swiss francs debacle would damage the banks, CBC says (Updated)
By Angelos Anastasiou The problem of loans given by Cypriot banks in foreign currency to 3,000 borrowers, totalling approximately €1.5 billion, cannot be addressed through...
Banks oppose move allowing borrowers to bid for their own loans
By Angelos Anastasiou THE HOUSE finance committee has asked the Legal Service for its opinion on the constitutionality of clauses found in the government’s loan-sales...
Non-binding resolution calls for reimbursing Laiki depositors
By Angelos Anastasiou A PROPOSAL for a resolution by parliament in favour of fully restoring the seized deposits of now-defunct Laiki Bank was discussed behind...
Proposal to raise police retirement age rejected all round
The government, the civil servants union PASYDY and police officer unions have roundly rejected a proposal for raising the retirement age from 63 to 65...