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301. Pillar two readiness and technology

As per our previous publications and alerts, we had the opportunity to communicate a significant development - the introduction of BEPS 2.0 Pillar Two or Global Minimum Tax. The European Union unanimously adopted a directive in December 2022 (the ''Minimum Tax Directive''). ...

302. Cyprus: The new epicenter of U.S. military strategy in the Mediterranean

In a significant development, the United States and Cyprus are strengthening their defense and security ties, marking a shift in the geopolitical landscape of the Eastern Mediterranean. ...

303. Cyprus sees an 18.2% rise in crime cases in 2022

The number of true crime cases reported to the Police rose by 18.2% in Cyprus in 2022, with the Crime Index expressed in 100,000 inhabitants rising to 584 from 501 in 2021 and 482 the year before. ...

304. U.S. unleashes over 500 new sanctions on Russia

In a bid to escalate pressure on Moscow on the second anniversary of its war in Ukraine, U.S. President Joe Biden unveiled a series of measures, including more than 500 new sanctions targeting Russia....

305. Asylum appeals in Cyprus skyrocket to 472%

A dramatic increase of 472% in appeals before the Administrative Court of International Protection by asylum seekers and foreigners has been reported between 2020 and 2023,...

306. Imperio leads Cyprus real estate into green future with first-ever ESG report

Imperio remains steadfast in its commitment to promote the green transition of Cyprus’ real estate sector – a development that will greatly benefit the sector’s businesses, society, economy, as well as the environment itself, in multiple ways....

307. Hellenic Bank posts impressive 2023 profit of €365.4 million

Hellenic Bank reported a substantial profit of €365.4 million for the year 2023, marking a significant upswing from €21.8 million in 2022. The Return on Tangible Equity (ROTE) for 2023 soared to 28.7%, a stark contrast to the 2.0% recorded in 2022....

308. US Embassy Nicosia hosts exhibit of Ukrainian women amid Russian aggression

On the somber occasion of the second anniversary of Russia’s brutal re-invasion of Ukraine, U.S. Embassy Nicosia, in collaboration with Sunseed Art and Resilient Ukraine, is the proud sponsor of an art exhibit that depicts the faces, roles, stories, and remarkable resilience of Ukrainian women....

309. Cyprus targets gambling addiction with new GESY proposal

In January 2024, the National Betting Authority submitted a comprehensive proposal to the Minister of Health, advocating for the inclusion of treatment for gambling-related behavioral disorders in Gesy, Cyprus' healthcare system. ...

310. Cyprus adopts ''Pay as You Throw'' system to tackle surging municipal waste

The Statistical Service of Cyprus reveals a 5% surge in municipal solid waste, reaching 615,000 tonnes in 2022. Per capita waste generation stands at 673 kg, ranking Cyprus the 5th highest in the EU. With 77.5% disposed of in landfills, the nation is gearing up for a "Pay as You Throw" (PAYT) system....

311. Cyprus firm on expanding Russia sanctions

During the discussion at the European Union's Foreign Affairs Council (FAC) held in Brussels on Monday, Cyprus took a clear stance on the issue of EU sanctions against Russia for its invasion of Ukraine, which marks two years in two days. ...

312. Russian authorities issue arrest warrant for Navalny's brother, possibly in Cyprus

In the aftermath of the mysterious death of Russian opposition leader Alexei Navalny in a Siberian prison, the Russian authorities have issued an arrest warrant for his brother, Oleg Navalny....

313. Cyprus government achieves significant debt reduction in 2023

The Cyprus government reported that the island nation ended 2023 with a debt of €22.4 billion, constituting around 99% of the Republic of Cyprus' total debt. This marks a notable reduction of €689 million or 3% from the corresponding period in the previous year....

314. Cyprus delays 15% multinational tax enforcement

Cyprus has yet to enforce the new EU rules introducing a minimum effective tax rate of 15% for multinational corporations operating within EU member states....

315. EC approves interest subsidy scheme for housing loans

In a significant development, the European Commission's DG Competition has approved an interest subsidy scheme aimed at housing loans in Cyprus....

316. Youtube star to political contender with Elon Musk

When Fidias Panayiotou, affectionately known as Fidias, embarked on his YouTube journey following his departure from the National Guard in late 2019......

317. Protests erupt worldwide over Navalny's death

Hundreds of demonstrators, many Russian expatriates, took to the streets in various cities globally on Friday to denounce the demise of Kremlin critic Alexei Navalny....

318. Over 1,000 tons of discarded tires pile up across Cyprus

Today, more than 1,000 tons of tires lie scattered in open spaces throughout Cyprus, posing a significant problem for the environment and public health....

319. 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....

320. 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%......

321. Cyprus development expenditure: 2023 surpasses €1B

The realization of state budget development expenditure in 2023 reached 72% compared to 70% in 2022 and the average of 69% over the last decade, according to a Treasury report released on Wednesday....

322. EU radio stats: 30,000 jobs, €4B revenue

About 30,000 persons were employed by radio broadcasting enterprises across the European Union in 2022, with these enterprises recording a net turnover......

323. FT: Estonia PM on Russia's wanted list

324. Growth in women's roles in science and engineering

Women made up 44% of the science and engineering workforce in Cyprus in 2022, a trend that aligns with the EU average of 41%, according to Eurostat data released on the UN's International Day of Women and Girls in Science....

325. Is President's trustworthiness too good to be true?

On the 17th of April 2022, I delved into the enigma of the Christodoulides phenomenon, marveling at the unprecedented surge of public adoration that preceded his formal candidacy....

326. French far right poised for record surge in European Elections

According to findings cited by Politico, the French far-right is poised to secure its highest-ever percentages in the upcoming June European elections....

327. 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....

328. 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)....

329. Cyprus drowning in trash as stats report more waste, less recycling

Brace yourselves, Cyprus – we've got a waste problem. The latest data from Eurostat, the EU's number cruncher, shows that in 2022, we each tossed out a whopping 673 kg of municipal waste....

330. UN-led efforts prompt Britain's Cyprus diplomatic push

Amid the political tremors sparked in Nicosia by Irphan Siddiq's interview with "K" magazine, Britain ventures into the Cyprus conundrum by assembling a robust diplomatic unit at the Foreign Office....