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1. EAC chairman George Petrou dives into energy storage advancements

George Petrou, the newly appointed chairman of the Electricity Authority of Cyprus (EAC), faces a daunting task as he takes the helm during a turbulent......

2. Cyprus suspends asylum applications from Syrian migrants

The Republic of Cyprus has decided to halt the processing of all asylum applications from Syrian migrants, citing provisions within European frameworks for handling increased and emergency migration flows....

3. EU Parliament votes for clearer labels on breakfast foods

In a move aimed at empowering consumers and promoting healthier choices, the European Parliament has greenlit updated regulations governing breakfast staples such as honey, fruit juice, jam, and marmalades....

4. Russian oil payments delayed amid sanctions scrutiny

Russian oil companies are facing significant delays in receiving payments for crude and fuel as banks in China, Turkey, and the United Arab Emirates (UAE) exercise increased caution over potential U.S. secondary sanctions, according to eight sources familiar with the matter....

5. Zero-emission buildings by 2030

In a bid to combat climate change, the European Parliament has approved a plan to make buildings more energy-efficient and eco-friendly. The revised Energy Performance of Buildings Directive,...

6. 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''). ...

7. 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......

8. Cyprus banks push for green standards with ESG certification

Artemis Credit Bureau, a subsidiary of the Association of Cyprus Banks, announced it will launch an interbank project for the corporate certification on ESG (Environmental – Social – Governance) criteria. ...

9. 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....

10. Spain urges Morocco to stem transit asylum claims amidst rising numbers

The Spanish government has formally requested Morocco's cooperation in preventing Senegalese passport holders, lacking a Schengen visa in the past two years, from boarding flights with layovers in Spain until February 19. ...

11. Cypriot farmers' protests send ripples across Europe

The surge of farmers' fury has reverberated in a manner unprecedented for Brussels, the nerve center of European decision-making....

12. Government raises minimum wage to €1000, boosting income for 25,000 workers

In a move aimed at bolstering the income of low-wage earners, the Ministry of Labour and Social Insurance has announced a significant rise in the National Minimum Wage, effective this January....

13. Alphamega riots amplify football strife

The management of violence in stadiums hinges on the outcomes of the upcoming extraordinary CFA meeting this Friday, prompted by the recent turmoil at ''Alphamega''....

14. Deal in the works for CNP Cyprus

The subsidiary of the French insurance giant CNP Assurances, CNP Cyprus Insurance Holdings, is currently in discussions for a potential change in ownership. ...

15. Cyprus secures €40M boost for green energy storage

The Republic of Cyprus has secured €40 million from the Just Transition Fund for energy storage facilities, addressing the inflexibility of its electricity system in storing excess energy from renewables....

16. Companies grapple with soaring fines amidst regulatory confusion

There's a significant issue with hefty fines hitting companies hard – we're talking about a daily hit of €100. The crux of the matter lies in a bureaucratic mix-up regarding the accurate records of company ownership, managed by the Company Registrar....

17. Deloitte Cyprus CEO on 65 years, challenges, and future strategies

Deloitte Cyprus celebrates 65 years of presence on the island, playing a major role in the financial affairs of the state....

18. Ministry reverts VAT refund amount to €50

The Ministry of Finance's new circular set to change in 2024, altering the decision that foresaw an increase in the minimum expenditure from €50 to €175. ...

19. Urgent measures taken after a series of fires on buses

According to the commitment of the Ministry of Transport and the owners of the 570 immobilized buses, a return to normality is expected early this week....

20. Critical student bus routes axed due to safety directive

In a directive, the Ministry of Transport, Communications, and Works has announced that starting Monday, December 4, 2023, buses lacking a specific automatic engine fire extinguishing system are prohibited from operating routes....

21. EY Cyprus redefines corporate reporting landscape at 3rd annual insights event

EY Cyprus organised its 3rd Annual Corporate Reporting Insights event titled ‘Connectivity: Reforming Corporate Reporting.’ ...

22. DAC6 revisited through the prism of DAC8

The Directive on Administration Cooperation (''DAC'') has been amended multiple times since 2011 to allow for the automatic exchange of information across multiple fields of taxation....

23. Producers and importers join forces to tackle tobacco product waste

Producers and importers of tobacco products with filters have embarked on a significant environmental initiative, aligning themselves with the European Directive 2019/904/EU....

24. EY Cyprus organised an event on the implementation and implications of the European Corporate Sustainability Reporting Directive (CSRD)

EY Cyprus has organized an event to present the challenges that many Cypriot companies will face in implementing the European Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). ...

25. EU seeks centralized energy storage solution

As part of the Save and Upgrade plan, only eight applications have been submitted thus far for the installation of home storage systems. It's important to note that these grants exclude new homes, which are expected to meet almost zero energy consumption standards....

26. Flavored heated tobacco to be banned as Cyprus aligns with EU directives

The Council of Ministers has approved amendments to regulations, including bans and warning labels on heated smoking products with flavored substances, according to Health Minister Poppy Kanari, in a move to align national legislation with European directives....

27. K. Treppides & Co Ltd: Cyprus financial market recovery or impending closure? Uncovering hidden risks

28. EU passes borrower protection law: Your rights when borrowing money

The European Parliament (EP) has voted on rules to keep people safe when they borrow money for things like credit cards or loans....

29. New EU card to make travel easier for people with disabilities

The European Commission has unveiled a legislative proposal aimed at improving access to free movement for individuals with disabilities within the European Union....

30. 18 charred bodies of immigrants found in Evros fire

Amidst the relentless wildfires that have engulfed Greece, at least 18 charred bodies of immigrants have been discovered in the scorched expanse of Dadia Forest in Evros....