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121. 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''). ...

122. European Parliament honors Navalny amidst food inflation

The European Parliament will commemorate the life of Russian activist Alexei Navalny, featuring an address by his wife, Yulia Navalnaya, in its plenary session this week in Strasbourg......

123. Cyprus unveils plans for world's first virtual dance museum

In the heart of ancient Nicosia, Cyprus, a team of innovative professors and research scientists is making waves in the world of virtual dance. Nestled near the city's medieval wall, they are crafting the largest database of 3D dancers, aiming to establish the world's first virtual museum of dance....

124. Government official salaries surge up 17% in 5 years

Over the past half-decade, the salaries of government officials have surged by a notable 17%, shedding light on the expanding state payroll. ...

125. Cyprus tourism faces headwinds in 2024

According to an article by Maria Eracleous published in Kathimerini's Oikonomiki, the tourism sector in Cyprus is grappling with a challenging start to 2024, primarily attributed to the ongoing conflict in Israel and heightened price sensitivity impacting travel demand....

126. Christodoulides unveils €60M relief package amid rising prices

In an address to the nation, the President of Cyprus unveiled a series of targeted measures aimed at alleviating the economic challenges faced by households and businesses amidst rising prices. ...

127. 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, ...

128. The sloppiness of our 'Big Brother'

The Cypriot's life is filled with cameras: pocket cameras worth 1,000 euros that also take phone calls, home cameras warding off unwanted visitors, and now cameras on the main arteries of the road network. ...

129. 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....

130. Cyprus takes the helm in pioneering anchored ship electricity revolution

In a pioneering initiative set to transform offshore electricity for anchored ships, Cyprus is taking a leading role in the European BlueBARGE project. ...

131. 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....

132. 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....

133. 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....

134. 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....

135. Is dining out turning luxurious?

It's no secret that our favorite cafes and fast-food joints are becoming increasingly expensive, leaving a bitter taste in the mouths of consumers. The recent surge in prices, fueled by the relentless march of inflation, is reshaping our spending habits and challenging our wallets....

136. How state members earn in semi-governmental boards

The monthly income for the president/member of a semi-governmental organization, derived from participating in the organization's sessions, averages around €400 to €500....

137. Government's €6.6M solar project powers education sustainably

In a significant leap towards sustainability, Cyprus has successfully concluded a €6.6 million project, installing photovoltaic systems in 405 school buildings. ...

138. Cyprus leads the EU in cross-border investments

During a Parliamentary Finance Committee meeting, CySEC Chairman George Theocharides announced Cyprus's top-ranking status in providing cross-border investment services within the EU....

139. Ministry's bold steps for energy renovation unveiled

The Ministry of Energy, Commerce and Industry proceeds with the preparation of standard procedures for the announcement and implementation of energy renovation projects....

140. Actors celebrate as grants soar to 40,000 euros

In a significant development, the funding limit for theatrical actors has doubled to 40,000 euros from the previous 20,000, as reported by "K" on Wednesday, January 17....

141. Wizz Air forced to pay £1.2m in compensation

Thousands of passengers have scored a significant victory against budget airline Wizz Air, as the Civil Aviation Authority (CAA) reveals a landmark compensation payout of £1.2 million....

142. Atterbury Europe unveils green vision for Limassol Mall

In a groundbreaking move towards a sustainable and environmentally friendly future, Atterbury Europe is set to revolutionize the construction and operation of the proposed Mall of Limassol. ...

143. Government's 'Photovoltaics for All' plan sparks debate on eligibility and funding

The Government Grant Scheme for transitioning citizens to renewable energy sources and promoting energy-saving initiatives in homes for the period 2024-2025 is currently open for public consultation until January 19, 2024. ...

144. Persianis reveals limited cooperation with Finance Ministry

For the limited cooperation with the Ministry of Finance, for the wrong interpretation of the research with a political prism and for the fiscal risks, the President of the Fiscal Council of Cyprus......

145. Greece rolls out 'climate resilience levy' to fund post-disaster reconstruction

In an effort to finance reconstruction projects following severe forest fires and floods, the Greek government has introduced a new accommodation tax, referred to as the 'climate resilience levy.'...

146. US cities struggle as record 36,000 migrants arrive

The United States finds itself at a pivotal moment as cities across the nation grapple with a surge in migrants, placing President Joe Biden under increasing pressure from both Republicans and Democrats....

147. Cyprus tax reform targets green initiatives and economic revitalization

By March 2024, the initial six phases of the tax transformation project commissioned by the Ministry of Finance to the Centre for Economic Research of the University of Cyprus will conclude,...

148. Finance Ministry undergoes administration overhaul

149. The intriguing story behind the Apple watch controversy

In 2013, an executive from a medical device company presented an enticing proposal to Tim Cook, Apple's CEO—an entry into the medical device space...

150. Pafos-Polis Chrysochous motorway construction continues amid contractual discussions

The risk of halting construction on the Pafos-Polis Chrysochous motorway has been temporarily averted. In recent days, the construction company formally submitted a series of requests in a letter to the Department of Public Works and the Ministry of Transport,...