Visit our new website:

A new party for Cyprus’s Russian exiles and expats

  • Wed, 15 Nov 2017 07:57

HUNDREDS of Western-trained Cypriot lawyers and accountants earn a living from handling the affairs of Russian and Ukrainian offshore companies. The relationship has flourished since the island became a base for proto-capitalists from the former Soviet Union in the 1990s, thanks to a communist-era treaty on removing double taxation. A relaxed attitude to transactions involving cash-filled suitcases also helped.

Nicosia, the island’s capital, and Limassol, its largest port, are these days home to an estimated 50,000-60,000 former citizens of the old Soviet Union’s constituent countries. Limassol’s once-seedy waterfront now boasts smart blocks of flats, shopping malls and a gleaming marina for the billionaires’ superyachts. A bust of Alexander Pushkin, a 19th-century Russian poet, graces a seaside park. The wealthiest Russian and Ukrainian families flit between homes in Cyprus, London and Paris.

Although Russians are generally popular with Greek Cypriots as fellow members of the Eastern Orthodox church, a new...Continue reading Europe


Harvard Business Review

Related Stories

Austrian Conservatives Cement Country's Shift to the Right
  • Sun, 17 Dec 2017 14:31

In Europe’s latest shift to the right, the expected next chancellor of Austria announced that his conservative party had cemented terms to form a go...

ECB chief Draghi speaks following monetary policy decision
  • Sun, 17 Dec 2017 12:31

European Central Bank President Mario Draghi delivered a speech on monetary policy at its premises in Frankfurt, Germany. Europe News

South Africa's ANC party to vote for new leader
  • Sun, 17 Dec 2017 12:19

South Africa's governing party will vote to decide who will lead it after President Jacob Zuma. BBC News - Africa

Bank of England unanimously votes to hold interest rates, shifting focus to inflation
  • Sun, 17 Dec 2017 11:31

The Bank of England's voted 9-0 on Thursday to hold its monetary policy as markets look for hints of future rate rises Europe News

A court case in New York rattles Turkey’s president, Recep Tayyip Erdogan
  • Sun, 17 Dec 2017 10:31

A FEDERAL court in New York is not the obvious setting for a trial that has sent panic through the Turkish establishment. But since he began testifyin...

Russia is banned from the Winter Olympics
  • Sun, 17 Dec 2017 09:31

It has taken several investigative reports across three years. But at long last the International Olympic Committee (IOC) decided on December 5th to p...

Syria war: US says flares fired at Russian jets
  • Sun, 17 Dec 2017 07:53

A mid-air collision was only narrowly avoided, the US defence department says. BBC News - Middle East

Poland changes its prime minister, but not its real leader
  • Sun, 17 Dec 2017 05:31

ON DECEMBER 6TH, Beata Szydlo, then Poland’s prime minister, was the special guest on Radio Maryja, an ultraconservative radio station that is close...

Austria far right: Freedom Party wins key posts in new government
  • Sun, 17 Dec 2017 02:31

Freedom Party nominees take foreign, interior and defence ministries in new coalition government. BBC News - Europe

Five Things to Know After Europe's Central Banks Thursday
  • Sun, 17 Dec 2017 00:31

Four of Europe’s central banks announced policy decisions, the day following a fifth rate rise by the U.S. Federal Reserve, with promises of more to...

Austria: Far-right party in new government
  • Sun, 17 Dec 2017 00:28

Two Austrian political parties formed a government coalition with a far-right presence. - RSS Channel - App International Edition

UK's May 'disappointed' with defeat in parliament but says she's on course to deliver Brexit
  • Sat, 16 Dec 2017 23:31

British Prime Minister Theresa May said she was "disappointed" with U.K. lawmakers' vote to give parliament a vote on the final Brexit ...

News Categories