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1501. K. Treppides & Co Ltd: Benefits in Kind

There are a number of commercial benefits that come with registering the property in the name of a legal entity rather than as an individual e.g. for asset protection purposes as it provides protection against personal insolvency since a property that is in the name of a legal entity should not be affected should the individual becomes personally insolvent....

1502. Tighter controls and penalties for cross-border transactions in Cyprus

The Cyprus Securities and Exchange Commission (CySEC) is introducing additional controls for cross-border services and announced that investor protection will be strengthened under new rules regarding how complaints are handled....

1503. Psychotherapy...through Pentadaktylos

A few days ago, an image showing the Pentadaktylos mountain range with the words "We all need therapy" written on it, replacing the Turkish Cypriot flag, went viral. ...

1504. Ukraine, Russia set to sign deal on resuming grain exports

Russian and Ukrainian officials were poised Friday to sign deals designed to clear millions of tons of desperately needed grain for export, ending a standoff brought on by the war in Ukraine that threatened food security around the globe....

1505. Germany dims lights as it leads Europe in saving energy

Summer nights in the wealthy Bavarian city of Augsburg this year are eerily dark and quiet: The facades of historic buildings are not illuminated, street lights are dimmed and most of the fountains are not operating....

1506. Operation PANGEA: Illegal pharmaceuticals worth 11 million seized worldwide

Operation PANGEA, an international initiative targetting the illegal internet trade in pharmaceutical products, resulted in the seizure of 462 items in the form of pills, sprays, and gels, along with 123 food supplements in Cyprus. ...

1507. ECB raises interest rates .5%, with further rate hikes on the horizon

The European Central Bank (ECB) increased interest rates by more than expected on Thursday, raising its benchmark deposit rate by 50 basis points to zero percent, impacting the Cyprus banking system and local borrowers....

1508. Italy's PM resigns spelling trouble for Europe

Italian prime minister Mario Draghi has resigned, ending a national unity government formed to tackle unpopular reforms and spelling trouble for Europe at a time of acute economic challenges....

1509. Putin will restart gas pipeline to Europe, but with conditions

Russian President Vladimir Putin signaled that Europe will start getting gas again through a key pipeline, but warned that unless a spat over sanctioned parts is resolved, flows will be tightly curbed....

1510. EY announces US$1b investment in a next generation technology platform to facilitate trust, transparency and transformation through assurance services

EY announced an investment of more than US$1b in a next generation assurance technology platform – part of a sustained focus on providing high quality audits and responding rapidly to changing expectations from regulators, governments, standard setters, audit committees and boards. The four-year investment is enabled by a wider US$2.5b program, announced by the EY organization in September 2021....

1511. Medicover awarded at the 10th Invest Cyprus International Investment Awards

Medicover was honoured at the prestigious 10th Invest Cyprus International Investment Awards, which recognize foreign companies, individuals, and investors for their contribution to the country’s economy....

1512. Manufacturers must comply with halloumi specifications

By the end of the month, cheese manufacturers will produce halloumi that will fully comply with the specifications of the Protected Designation of Origin (PDO), Minister of Agriculture, Rural Development and Environment Kostas Kadis has said....

1513. Plot thickens as Greece irked over Antonov crash

Athens says Belgrade and Kiev had not shared information about dangerous cargo on board a Cypriot company-owned Antonov that crashed-landed in northern Greece, with the plot thickening after recipient Bangladesh denied Serbian reports that Dhaka was expecting mines onboard the aircraft leased to a Ukrainian company...

1514. Three times as many Cypriots traveled abroad in June

Cypriots and Cypriot residents traveling abroad increased more than three-fold in June compared with June of last year according to data released by the Statistical Service of Cyprus (Cystat)....

1515. Rumors fly after Antonov crash in Greece

A retired intelligence officer in Cyprus says there is no way a downed Ukrainian cargo plane could have been carrying illegitimate weapons, with rumors still raging over allied weapons to Ukraine being sold on the black market while experts in Greece saying they found no evidence of dangerous substances at the crash site...

1516. 'Feta' can only be Greek

Greece has scored a win in its long fight to protect its right to the term “feta” after Europe’s top court reprimanded Denmark for not blocking local companies from using the name for sales outside the European Union....

1517. ECOMMBX receives the prestigious Ιnvest Cyprus International Investment Award

On 1 July 2022, at the 10th Ιnvest Cyprus International Investment Awards ceremony at the Parklane Spa & Resort in Limassol, under the auspices of the President of the Republic, Nicos Anastasiades. ...

1518. Minister: Ukraine needs assurances to resume grain exports

The Ukrainian foreign minister says grain exports from his country’s ports won’t resume without security guarantees for ship owners, cargo owners and Ukraine as an independent nation....

1519. Cyprus property market growing in number and value

The Cyprus property market is growing while getting pricier, as the number of properties rises by 1.5%, while their overall value increased by 2.2% based on January 2021 prices compared to 2018 data....

1520. 'Nightmare' scenario for Europe as Russia shuts off gas pipeline

The main natural gas pipeline between Russia and Germany shut down for scheduled maintenance Monday, raising concerns that Moscow could use the repairs as a pretext for a longer shutdown as it wields energy supplies as leverage in the Ukraine war....

1521. EU rules on work-life balance officially enforced from August 2nd

As of August 2nd, all European Union Member States will have to apply the EU-wide rules to improve work-life balance for parents and carers that were adopted in 2019....

1522. Greece: Covid infected tourists no longer required to quarantine

A new government decision issued by the Greek authorities earlier this week has established that tourists who get infected with the COVID-19 disease while being in Greece will not be required to go into quarantine. ...

1523. Men work 7.5 years longer in Cyprus compared to women

The expected average duration of working life for 15-year-olds in the EU was 37.9 years in Cyprus in 2021, above the EU average of 36.0 years, according to data released by Eurostat, the statistical service of the EU....

1524. Boris Johnson has stepped down

After an acute political meltdown in the U.K., Prime Minister Boris Johnson has resigned as leader of the Conservative Party, setting in motion a race for a new prime minister....

1525. Unemployment down 53.8% from last year, but up 16.5% from last month

The number of registered unemployed persons at the end of June 2022 decreased by 53.8% compared to June 2021, based on (actual) data kept at the Provincial Labour Offices, falling to 12,332....

1526. Employee influence grows: 43% set to quit jobs for better pay, career opportunities and flexibility

Employees around the world now hold more sway in the global job market, with two-fifths (43%) of respondents saying they are likely to quit in the next 12 months according to the EY 2022 Work Reimagined Survey...

1527. Exness supports technology education in Cyprus through Robotex Platinum sponsorship

1528. Widower cries foul in Ayia Napa buggy fatality

A Swedish man whose wife was killed in an Ayia Napa buggy accident in early May is in the market for an appeal lawyer in Cyprus, with reports saying he has several questions after a British national was sentenced to one year through an expedited trial procedure...

1529. Herodotou: 'Interest rates should be increased gradually'

The Governor of the Central Bank of Cyprus, Constantinos Herodotou, said he was in favor of the ECB gradually increasing key interest rates while keeping its options open, stressing that the European Central Bank should consider the impact of each increase and act accordingly....

1530. Commission VP demands review of EU decision to trademark ‘Turkaegean’

European Commission Vice-President Margaritis Schinas has sent a letter to Internal Markets Commissioner Thierry Breton demanding a review of a decision to approve Ankara’s request to trademark the term ‘Turkaegean.’...