World Economy

Cyprus Eases Controls

Cyprus Eases ControlsCyprus Eases Controls

Cypriot authorities further eased restrictions on capital transfer out of the country, according to a decree to come into effect on Monday, Xinhua reported. The decree, to be valid for three weeks, allows individuals to transfer up to 1 billion euros ($1.05b) per month, up from 50,000 euros. But travelers cannot physically transfer more than 10,000 euros per trip abroad.