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271. EY Cyprus welcomes two new partners to power growth

EY Cyprus is pleased to announce that its leadership team has been strengthened with the addition of two new partners....

272. Cyprus adapts to changing seas

In response to European sanctions on Russian shipping companies based in Cyprus and developments in the Mediterranean and the Red Sea, Cyprus is actively seeking to attract new companies from different markets....

273. EU unveils stricter fiscal rules for member states

The European Commission has introduced new fiscal rules aimed at promoting growth and financial discipline among member states. The framework, ...

274. Bank of Cyprus posts nearly half a billion euro profit in 2023

Bank of Cyprus reported a robust profit of €487 million for the fiscal year 2023, as announced by Group CEO Panicos Nikolaou during the presentation of the bank's financial results....

275. Cyprus tourism braces for challenges in 2024

The Association of Cyprus Tourist Enterprises (ΣΤΕΚ) is getting a bit jittery about the upcoming tourist season in 2024. In a recent meeting, they chatted with a representative from Hermes Airports to figure out what's going on....

276. How does zero VAT affect your grocery bills?

The Consumer Protection Service is keeping a close eye on how the zero VAT (Value Added Tax) rate impacts prices in stores. They've been checking 88 different products ...

277. Cyprus and Greece report lowest EU foreign investment

Eurostat's latest data sheds light on the intricate dynamics of foreign involvement in the European Union's economy. ...

278. Banks urged to accelerate loan restructurings

The governor of the Central Bank has shed light on the strategy for restructuring Non-Performing Loans (NPLs) and navigating credit risk management....

279. SafeBulkers Inc. boosts Cypriot fleet with modern ships

In a strategic move to fortify the Cypriot flag, Safebulkers Inc., a prominent shipping company, has added two state-of-the-art vessels to its fleet....

280. Cyprus confirms extensive gas find in 'Cronos-2' project

The Ministry of Energy, Commerce, and Industry announced the successful completion of the assessment drilling operations for "Cronos-2" within Block 6 of the Exclusive Economic Zone (EEZ) of the Republic of Cyprus....

281. Cyprus' 3.7% greenhouse gas increase stands out in EU

In the third quarter of 2023, greenhouse gas emissions through economic activity had increased by 3.7% in Cyprus and decreased by 7.1%......

282. Cyprus harvests success at Fruit Logistica 2024 in Berlin

The Cyprus Ministry of Energy, Commerce, and Industry, along with the Cyprus Trade Centre in Berlin, made a significant impact at the "Fruit Logistica 2024" international fresh produce trade show in Berlin from February 7 to 9....

283. Spanish banks wary of Cypriot student accounts

The impact of Cyprus being deemed a high-risk destination continues to reverberate even in European Union countries, with remnants of its troubled past lingering....

284. Cyprus to roll out 10-second euro transfers across banks

Over the next 18 months, Cyprus is poised to revolutionize money transfers, promising seamless transactions within 10 seconds from bank to bank....

285. Government grapples with energy project crisis

The firm spearheading one of the Republic of Cyprus' most ambitious energy ventures, Terminal F.P. at Royal, finds itself grappling with challenges that threaten its completion....

286. Cyprus trade deficit soars to €8.57 Billion in 2023

Cyprus' trade deficit for 2023 reached €8.57 billion, marking an 18% increase from the previous year's €7.26 billion, according to provisional data released by the Statistical Service of Cyprus (CyStat)....

287. Housing costs rise: Apartments jump 11.1% in 2024

House and apartment rents went up 8% and 11.1%, respectively, over the year in the fourth quarter of 2024, according to the Ask Wire Index. At the same period, house and apartment values rose 3% and 8.8% respectively over the year....

288. Investigation urged as state contracts lead to €6.4M payout

In a recent address, Deputy Dipa Alekos Tryfonidis called attention to questionable agreements, urging an investigation into the responsible parties behind a contract resulting in a hefty 6.4 million euros compensation payout....

289. Government courts global investors in ambitious growth push

In a bid to position Cyprus as an enticing destination for foreign investments, the President of the Republic addressed a gathering of over 100 foreign investors and companies at the Presidential Palace. ...

290. Cabinet moves forward with plan to support Cyprus entrepreneurs

Cyprus is gearing to set up a National Development Organisation which coupled with the Cyprus Equity Fund will promote entrepreneurship by covering financing gaps for small and medium-sized enterprises and start-ups, Minister of Finance Makis Keravnos said on Wednesday....

291. Moody's sees positive shift in Cyprus economy

In a webinar panel discussion hosted by the Cyprus Economic Society, Haiko Peters, Vice President and Senior Analyst at Moody's Sovereign Risk Group, emphasized sustained improvements in the Cypriot economy....

292. Government to receive €1.2B for green transition and resilience plan

Cyprus is set to receive a total of 1.2 billion euros from the Recovery and Resilience Plan (RRP). ...

293. Cyprus embarks on €8 billion growth spree with major projects

In a recent press release, the Association of Large Investment Projects affirmed that Cyprus is poised for sustained economic growth, with a portfolio of major projects exceeding €8 billion. ...

294. US firmly rejects two-state solution for Cyprus settlement

295. Electricity subsidy extends to vulnerable consumers until February's end

With its metaphorical ''finger on the trigger,'' the Ministry of Finance is vigilantly tracking the anticipated surges in the current....

296. Cyprus grapples with impending price increases in appliances

Another category of products faces potential price hikes, with household appliances such as refrigerators, washing machines, and televisions expected to experience increases in the near future. ...

297. Dedicated checkpoint lane eases travel for students and enclaved

A dedicated lane has been established at the Ayios Dometios checkpoint in Nicosia to streamline the travel process for students residing in Turkish-occupied areas attending school in the government-controlled regions of the Republic, ...

298. Putin and Erdogan set to explore Russian-Turkish bank formation

Moscow and Ankara are set to discuss the establishment of a bank serving Russian and Turkish interests, among other topics, during the upcoming week, according to the Kremlin....

299. European Central Bank considers rate cut, Spanish Governor suggests

The European citizens should know that that the European Central Bank’s next move will be a rate cut, Governor of the Bank of Spain and ECB Governing Council member......

300. Calls for increased electricity rates raise eyebrows

The recent plea by the Electricity Authority of Cyprus (EAC) for significant electricity rate increases has raised eyebrows, especially as the possibility of bearing additional costs for the Vasiliko terminal looms. Does the parliament even exist? Is there a state? If so, let them finally play their part. Enough already!...