Latest Headlines

Reports written by Michele Kambas

Monthly money transfer limit doubled

Those who have sold their property in Cyprus and wish to transfer the money to their home countries will be relieved to hear that Finance Ministry has doubled the monthly transfer limit.

Capital restrictions eased

The Cypriot authorities have eased the restrictions on capital movement imposed in April 2013 following the bailout crisis; individuals may now transfer up to €10,000 a month out of the country.

Marfin Popular Bank posts €2.5 billion loss on Greece

Earlier today the Island’s second largest lender, the Marfin Popular Bank, announced a record full-year net loss of €2.5 billion, hit by a write-down on its Greek sovereign debt holdings.

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