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1. EC challenges 5% VAT proposal for primary residences

Finance Ministry Director-General George Pantelis informed the parliamentary Finance Committee that the European Commission disagrees with the consensual proposal agreed upon in Parliament regarding the imposition of a reduced VAT rate on the construction or acquisition of a primary residence....

2. EU launches innovative support center for Green Line trade

The European Commission has announced the establishment of an information and support center, in collaboration with the Cyprus Chamber of Commerce and Industry (CCCI) and the Turkish Cypriot Chamber of Commerce (TCCC), to facilitate legal trade across the Green Line for Cypriot businesses and individuals....

3. US ambassador praises Cyprus on sanctions

US Ambassador Julie Fisher is dismissing claims that Washington is using arm-twisting tactics in Nicosia for sanctioning companies on the island, while pointing out Cypriot government statements are in line with the EU’s transatlantic consensus on Russia’s war in Ukraine...

4. China's C919 takes flight to break the Airbus-Boeing duopoly

China Eastern Airlines, the initial customer for the country's homegrown narrow-body jet C919, will launch the plane's first commercial flight on Sunday, the carrier's app showed on Friday....

5. Energizing surprise: Abundance of energy sends prices plummeting in Finland

Finland was dealing with an unusual problem on Wednesday: clean electricity that was so abundant it sent energy prices into the negative....

6. USA: Child labor seen as solution to labor shortage

Lawmakers in several states, predominantly Republicans, are pushing for legislation that would relax labor laws for children, allowing them to work in more hazardous occupations, longer hours on school nights...

7. Nicosia looks forward to hosting next 3+1 summit

During a reception held by the Embassy of Israel in Nicosia to commemorate Israel's 75th independence anniversary, Cyprus's Defense Minister, Michalis Giorgallas, expressed that Nicosia eagerly looks forward to hosting the next political level 3+1 meeting involving Cyprus, Greece, Israel, and the USA before the year's end. Additionally, Cyprus plans to host the 9th Cyprus, Greece, and Israel Trilateral Summit in 2023....

8. The theatrical hypocrisy of passing the e-kalathi bill

In early March, during the Commerce Committee meeting, the first one attended by the current Minister of Energy, the committee chairman, along with all the members, to be fair, urgently requested the government to submit a bill....

9. EY: 4th Women Fit for Business Program Successfully Completed

10. Building bridges for economic growth: Advocating for more crossing points

The Cyprus Chamber of Commerce and Industry (KEVE) and the Turkish Cypriot Chamber of Commerce (KTTO) are actively advocating for increased trade opportunities and more efficient crossing points to enhance economic and commercial ties, ...

11. Inferno engulfs Sydney building near Central Station

An “apocalyptic” blaze engulfed a building near Central Station in Sydney on Thursday afternoon, sending a massive plume of smoke into the air and causing parts of the building to collapse....

12. TechIsland Presents ''Startup School''

A Groundbreaking Workshop Series for Cyprus Startups, Powered by Zubr Capital. A unique educational opportunity with free entrance...

13. Legendary rock icon Tina Turner dead at 83

Tina Turner, the American-born singer who left a hardscrabble farming community and abusive relationship to become one of the top recording artists of all time, died on Wednesday at the age of 83....

14. The 'controversial' e-kalathi bill: House and stakeholders remain unconvinced

The e-kalathi bill fails to convince the House and stakeholders. Yesterday, the Commerce Committee of the House of Representatives held discussions on the matter, with Minister of Energy, Commerce, and Industry George Papanastasiou present....

15. Building land for sale by AstroBank

AstroBank is selling building land in various areas of Cyprus such as Famagusta, Paphos, Nicosia....

16. Christodoulides: Shift allowances and overtime compensation from 2024

President Nikos Christodoulides addressed the 60th Congress of PASYDY, the Civil Servants' Trade Union, where he discussed significant developments regarding the restoration of shift allowances and overtime compensation for civil servants....

17. Gigantic heap of unused clothing seen from space

A giant dump of unused fast fashion clothing in Chile's Atacama Desert is now clearly visible to satellites....

18. E-kalathi bill presented to Parliament

The discussion on the e-kalathi bill commences today at the Commerce Committee of the House of Representatives. This bill introduces a digital tool designed to display product prices, aiming to support the Consumer Protection Agency's efforts in monitoring the market and better protect consumer interests....

19. Spain harnesses renewable energy to fuel the entire country's needs for 9 hours straight

Spain is among a handful of countries leading the world in the push toward renewable energy. And last week it reached a new milestone....

20. May Newsletter of K. Treppides & Co Ltd: CySEC

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries....

21. US publishes new sanctions list with Cypriot entities, raises concerns

In a recent development, the United States released a new sanctions list on Friday (19/05), which includes the names of several Cypriot citizens and entities....

22. France 24: The dark side of higher education in occupied Cyprus

According to a report from France 24, education has become the leading economic sector in occupied Cyprus. ...

23. Energean unveils ambitious plans for Israeli gas exploitation

Energean announced on Thursday that by September 2023 it will submit to the Israeli government for approval a comprehensive program for the exploitation of the deposits of the "Olympus Area" of the Israeli Exclusive Economic Zone, so as to begin its implementation in early 2024....

24. CBC urges banks to embrace transformation for sustainablefuture

Constantinos Herodotou, Governor of the Central Bank of Cyprus, emphasized the need for Cypriot banks to seize the current favorable circumstances and address impending challenges during his speech at the 2023 ICPAC Mediterranean Finance Summit held in Limassol on Thursday....

25. EU grants 24M euros to upgrade Greece's Alexandroupolis Port

Greece has secured 24 million euros ($26 million) in European Union funding to upgrade its northern Aegean Sea port of Alexandroupolis, privatization agency HRADF said on Wednesday....

26. Deutsche Bank agrees to $75M settlement in Epstein abuse lawsuit

Deutsche Bank AG has agreed to pay $75 million to settle a lawsuit by women who say they were abused by the late financier Jeffrey Epstein and accused the German bank of facilitating his sex trafficking....

27. Cyprus banks' strict adherence to sanctions worries legitimate entities

Banks have become cautious regarding sanctions imposed by the USA, EU, and UK, and they are not willing to take any risk in serving individuals or entities in Cyprus who are subject to sanctions....

28. Houses and building land for sale by AstroBank

AstroBank is selling houses and building land in various areas of Cyprus such as Nicosia, Famagusta, Paphos, and Larnaca....

29. 0% VAT rate, the second round

Almost two weeks after the zeroing of the tax rate on seven products (bread, eggs, milk, baby diapers, baby food, feminine hygiene products, and adult diapers), the Ministry of Finance and the Ministry of Commerce are in discussions regarding the next list of products that will have a low or reduced tax rate....

30. BOC Chief urges sanctioned entities to seek exemptions themselves

The CEO of the Bank of Cyprus, Panicos Nicolaou, expressed the view that individuals and entities subject to sanctions should seek exemption from international authorities in order for banks to allow payments from frozen accounts to business entities....