A Cyprus government scheme called 'Estia' to assist homeowners with non-performing loans to repay their toxic debt has gone live as borrowers can start applying before the window shuts on 15 November, 2019.

Cyprus has fully repaid a €2.5 billion loan from Russia, secured in 2011 by the previous administration, Finance Minister Harris Georgiades said recently.

Bank of Cyprus’ Real Estate Management Unit (REMU) is preparing a new AIF just like CyCeit for NBG Pangaea Real Estate Investment Company, according to INSIDER reliable information.

Τhe US House financial services committee has said cooperation and coordination with Cypriot authorities in fighting illicit financial activity is beginning to pay off and expressed confidence that the island can achieve further progress.

Cyprus posted a fiscal surplus of €695.8 million or 3.2% of GDP from January – July 2019, compared to €488.5 million the same period last year, according to official data.

Cyprus said it had substantially restored its reputation tarnished by money laundering allegations after the US Congress Financial Committee said Nicosia’s cooperation was beginning to produce results.

July this year saw a further decline of unemployment in Cyprus to 7% (or 31,000 persons, down from 7.2% (32,000 persons) in June and 8.3% (36,000 persons) in July last year, Eurostat figures showed.

A 2.2% increase in industrial production was seen in the first six months of 2019, the Statistical Service said on Thursday.

New financial products that will dramatically alter the investment landscape for US expats living in Cyprus and across the globe have been launched.

Melco has announced new career opportunities at the Cyprus Casinos satellite located in Paphos, the last of the four to open and is scheduled to begin operations by the end of 2019.