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661. New measures to attract new businesses and property purchases

The day before yesterday, YPOIK announced a new support package aimed at attracting foreign companies to operate in Cyprus....

662. 6.3-magnitude quake rocks Crete

An earthquake with a preliminary magnitude of 6.3 on the Richter scale hit Crete on Tuesday afternoon...

663. Outage highlights how vital Facebook has become worldwide

In Lima, Peru, the breakdown complicated dental technician Mary Mejia’s job. Like most Peruvian medical workers, she uses WhatsApp for a multitude of tasks, including scheduling appointments and ordering crowns....

664. Europol cracks down on human trafficking

Two hundred and sixty-nine (269) potential victims of exploitation were identified during Europol's eight-day, coordinated pan-European action to crack down on trafficking in human beings and labor exploitation in the agricultural sector,...

665. Three-quarters of earthquake-stiken homes on Crete temporarily uninhabitable

Engineer inspections of homes damaged in Monday’s 5.8-magnitude quake earthquake on Crete have established that three-quarters of them are temporarily uninhabitable....

666. K. Treppides & Co Ltd: Renewed European finance strategy and implementation of the action plan on financing sustainable growth

The European Commission adopted on 21 April 2021, a comprehensive package of measures to help improve the flow of money towards financing the transition to a sustainable economy, whereas these measures will be instrumental in reaching climate and environmental targets as well as vital for economic recovery from the COVID-19 pandemic. ...

667. EU and US convene in first Trade and Tech meeting

The United States and the European Union hope to discuss chip shortages, artificial intelligence and tech competition issues during the first Trade and Tech Council meeting this week,...

668. EY reports global revenues of US$40b in 2021 and outlines record US$10b investment plan over next three years

EY announces combined global revenues of US$40b for the financial year ended June 2021 (FY21), an increase of 7.3%, a solid result given the global economic impact caused by the COVID-19 pandemic. ...

669. Global CEO confidence returns to pre-pandemic levels

CEOs of the world’s largest businesses are increasingly optimistic about the outlook for their own business and despite the Delta variant slowing down the ‘return to normal’, their confidence in the global economy has returned to levels not seen since the start of the pandemic....

670. EY announces the launch of EY Entrepreneur Of The Year™ in Cyprus

EY Cyprus is pleased to announce the launch of the EY Entrepreneur Of The Year™ program for the first time in Cyprus. With this launch, the ultimate global competition for entrepreneurs officially opens today for nominations. ...

671. 10% reduction in electricity costs

The Minister of Energy, Trade and Industry, Ms. Natasa Pileidou, today announced a series of measures designed to ease the skyrocketing costs of electricity in households and business....

672. Weekend News Roundup

Here are a few of the stories that made news in Cyprus over the weekend....

673. EY and IIF survey shows climate change top concern for banks

674. KPMG and CIM offered 2 academic scholarships

675. K. Treppides & Co Ltd: Cryptocurrency

If you do a quick search on the internet on how many people have become “Bitcoin Millionaires” you will be inundated with stories of young individuals who invested their pennies some years ago and have now struck it rich. Currently there are over 100,000 accounts that hold US1,000,000 or more in Bitcoin....

676. Massive forest fire ravages Greek island

Firefighters and residents battled into the night Monday for a seventh day against a massive fire on Greece’s second-largest island as the nation endured what the prime minister described as 'a natural disaster of unprecedented proportions'...

677. Greece mounts ‘superhuman efforts’ in multiple fronts

Thousands of people have fled their homes on the Greek island of Evia as wildfires burned uncontrolled for a sixth day on Sunday, and ferries were on standby for more evacuations after taking many to safety by sea...

678. EY: CEOs understand transformation cannot be put off following COVID-19 pandemic

More than two-thirds (68%) of CEO respondents from the world’s largest companies say that they plan to take on a major investment in data and technology over the next 12 months, while 61% plan to undertake a major transformation initiative over the same period, according to the global EY CEO Imperative Study 2021. ...

679. Cyprus targets young adults with alms for jabs

The Cypriot government is expected soon to announce incentives that would encourage young people to get vaccinated, while subsidized hotel stays for those who got the jab begin later this week...

680. Policing Safe Pass put to the test

An incident in broad daylight in Nicosia has raised questions over the latest use of Safe Pass, with police keeping quiet about reports of a downtown arrest and some business owners refusing to check documents at the door...

681. Cyprus cases just shy of quadruple digits

An unprecedented surge in covid cases in the middle of the summer has prompted officials in the Republic of Cyprus to seek more scientific guidance after new daily infections reached 993 on Thursday....

682. Government responds to fire with €6 million aid

The Republic of Cyprus has announced €6 million in financial aid for villages affected by a deadly fire, including compensation to the families of victims, with the government clarifying that illegal or uninsured structures would not be an issue...

683. Cyprus raises bar for sake of normality

The President’s Cabinet in the Republic of Cyprus has added a few finishing touches on its latest Safe Pass measures as daily COVID cases continue to rise, with the government allowing more flexibility for businesses willing to cater to people who are vaccinated...

684. Cyprus rolls out ‘jab discount’ for hotel stays

Lodging businesses in the Republic of Cyprus have until Friday to apply for a state subsidy that would partially fund hotel stays for vacationers who got the vaccine or the state has a record of their recovery from COVID...

685. Cyprus readies gratitude gift bag for vaccinated

New measures to reward vaccinated citizens in the Republic of Cyprus are to be decided in a Cabinet meeting on Friday following a sevenfold increase in daily COVID cases, with the government seeking ways to punish those who refuse to get the jab...

686. Cyprus to try hand at luxury camping

Cyprus’s tourism minister says there is great interest in Cyprus becoming a “glamping” destination, but laws need to be amended as luxury camping, a crossover between campgrounds and hotels, is not currently regulated in the Republic...

687. Cyprus lifts curfew as nightclubs open

The government of the Republic of Cyprus lifted a night curfew on Thursday as further relaxations of pandemic measures kicked in, including the opening of nightclubs based on last-minute protocols...

688. G7 agree on plan targeting tax heavens

The G7 reached a landmark deal on Saturday to pursue higher global tax rates on multinational businesses but the measures need broader support including an EU resolution, with retractors including Cyprus where Amazon recently registered a company...

689. Legal departments face challenges in transformation efforts

Legal departments across the globe are facing a mounting list of operational challenges as they look to transform in the wake of complex digital and regulatory change, according to the 2021 EY Law Survey, which was conducted in collaboration with the Harvard Law School Center on the Legal Profession...

690. Family businesses in Europe fared better in response to COVID-19

For businesses of all types, the first impact on the pandemic was felt on revenues. 64% of European family businesses reported initial revenue losses compared to 69% of family businesses globally, 25% managed to maintain their revenue levels, and 11% experienced increases...