In the recent Appellate case VTB -V- TARUTA, the Appellate Court upheld a decision of a 1st Instant Court, pursuant to which a direct application filed by a holder of a Russian Judgment for its enforcement under the Bilateral Treaty between Cyprus and Russia and ex parte injunctions obtained in the context of such enforcement proceedings, had been summarily dismissed, due to lack of jurisdiction of Cypriot Courts, as per Article 27 of the Bilateral Treaty.

The United Kingdom should be added to Group B countries from which a PCR test certificate needs to be submitted, member of the team of experts advising the government on Covid-19 Petros Karayiannis has told CNA, noting that for the time being there are hurdles to adding the country to the list due to surges in cases there as well as local lockdowns.

While in different times April marked the beginning of the summer season, this year it was pushed back by three months as the coronavirus pandemic has destabilised the tourism sector in Cyprus as well as globally, Demetra Landou of Phileleftheros writes.

Cyprus has not processed any passport applications of a foreign investor since January, after freezing procedures pending the approval of tougher criteria regulating the Citizenship for Investment Scheme.

The general government deficit – the balance of income and expenditure – at the end of May came to €528.8 million (or 2.6% of GDP) as a result of the steep decline in tax revenue during the coronavirus-related lockdown.

Cyprus will follow the same three-pronged strategy for the recovery of the local economy that was adopted after the financial crisis of 2013, Finance Minister Costantinos Petrides said on Tuesday.

Profile Software, the international financial solutions provider, announced today that Allica Bank, the bank that empowers small and medium businesses to succeed, has comprehensively implemented Profile’s FMS.next, and RiskAvert to manage their banking and risk management operations. Profile and Allica Bank worked together to speedily deliver the digital banking solutions under challenging timescales.

EY today announced the release of the third-generation zero-knowledge proof (ZKP) blockchain technology to the public domain on the Ethereum public blockchain. The enhancements of the ZKP blockchain technology will help make private transactions on public blockchains more scalable by significantly reducing transaction costs through batching multiple private transfers together in a single transaction.

The new Ministers of Defence, Charalambos Petrides, and Justice and Public Order, Emily Yiolitis, as well as new Attorney General, Giorgos Savvides, and Deputy Attorney General, Savvas Angelides, were sworn in on Monday during ceremonies at the Presidential Palace.

Japan was added to category A, and Serbia to category B, while Bulgaria was dropped from the first to the second group