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61. 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''). ...

62. Cyprus: The new epicenter of U.S. military strategy in the Mediterranean

In a significant development, the United States and Cyprus are strengthening their defense and security ties, marking a shift in the geopolitical landscape of the Eastern Mediterranean. ...

63. Hellenic Bank posts impressive 2023 profit of €365.4 million

Hellenic Bank reported a substantial profit of €365.4 million for the year 2023, marking a significant upswing from €21.8 million in 2022. The Return on Tangible Equity (ROTE) for 2023 soared to 28.7%, a stark contrast to the 2.0% recorded in 2022....

64. Netherlands tops global pension charts

A recent analysis by the Mercer CFA Institute has identified European nations as leaders in global pension systems. The Netherlands secures the top spot in the rankings, with Iceland and Denmark following closely behind....

65. Bank of Cyprus posts nearly half a billion euro profit in 2023

Bank of Cyprus reported a robust profit of €487 million for the fiscal year 2023, as announced by Group CEO Panicos Nikolaou during the presentation of the bank's financial results....

66. ECOMMBX Teams Up with NBA Sensation Sasha Vezenkov in a Groundbreaking Partnership

In an electrifying announcement that has the sports and business worlds abuzz, ECOMMBX is thrilled to unveil NBA star Sasha Vezenkov as its new brand ambassador. This dynamic partnership marks a significant milestone in ECOMMBX's journey, symbolizing an era of unparalleled excitement and growth....

67. Over 1,000 tons of discarded tires pile up across Cyprus

Today, more than 1,000 tons of tires lie scattered in open spaces throughout Cyprus, posing a significant problem for the environment and public health....

68. Lidl Cyprus invests €450,000 in employee appreciation program

Lidl Cyprus rewards the collective effort and contribution of its team, by granting additional cash benefits totalling €450,000....

69. Skip the roses, go for the gyro bouquet instead

In a culinary twist that has captured the hearts and appetites of romantics in Heraklion, Crete, one souvlaki restaurant has taken Valentine's Day celebrations to delicious new heights with a savory creation: the Pita Gyro Bouquet....

70. 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....

71. Iconic Andy's Pizza bids farewell after 54 years

A beloved Nicosia restaurant, Andy's Pizza, renowned for its 54-year legacy, will close its doors as of March 1, transitioning into a new chapter....

72. Boeing faces setback as 737 Max jets require rework due to mis-drilled holes

Boeing is facing a new setback in the production of its 737 Max jets, as approximately 50 undelivered planes will require rework due to a manufacturing problem. ...

73. Cyprus hosts high-level leadership training with UK partnership (updated)

A ''Strategic Leadership Programme'' in collaboration with the High Commission of the United Kingdom in Cyprus, the Defence Academy of the United Kingdom and Cranfield University......

74. Macan sets new standards: the first all-electric SUV from Porsche

75. Virgin Atlantic flight forced to stop due to missing parts of the wing

A Virgin Atlantic flight from Manchester to New York faced a last-minute cancellation as a vigilant passenger discovered faulty bolts on the plane's wing. ...

76. 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....

77. Cyprus Officials forbidden to enter Russia after media clash

The Russian Ministry of Foreign Affairs has announced a ban on the entry of citizens – officials of the Republic of Cyprus, connected to the revocation of accreditation and the expulsion of the correspondent of the Russian government's newspaper from Cyprus last fall....

78. Cyprus backs UN resolution condemning Houthi attacks on Red Sea shipping

The Cypriot registry seems to remain unaffected for the time being by the latest developments in the Red Sea......

79. The plague of the Cyprus port industry

Cyprus holds a pivotal role as a major trading hub and a crucial maritime center, leveraging its strategic geographical position and island status to foster maritime transport development. ...

80. Arnold Schwarzenegger detained at Munich Airport over unregistered luxury watch

Arnold Schwarzenegger, the renowned actor and former Governor of California, has encountered a legal hurdle at Munich Airport where he is reportedly being detained and questioned under tax law....

81. 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....

82. ''It is, therefore, right that I resign''

I wrote in my previous article ("How the prestige of the institutions is undermined", Kathimerini, 7/1/24) that, based on the conclusion of the auditors of the Independent Anti-Corruption Authority and announcements of the Audit Service,...

83. 'One Stop Shipping Centre' launched to boost competitiveness

The One Stop Shipping Centre has set sail in Cyprus, marking a significant development for the Cypriot shipping industry. Launched by the Deputy Ministry of Shipping under the President of the Republic,...

84. Houthi strikes send prices soaring in global trade

In recent weeks, the developments in the Red Sea, with the Houthi attacks on commercial ships and their impact on global trade, have dominated the discussions of suppliers with their partners....

85. Putting the new Macan through its paces in the name of performance and efficiency

Porsche is putting the prototype of the all-electric Macan through an exacting and gruelling test programme to prepare the follow-up to the successful SUV for its upcoming world premiere. ...

86. FT: Loose parts detected on grounded 737 max jets

United Airlines and Alaska Airlines have uncovered loose parts on some grounded Boeing 737 Max aircraft, escalating concerns for the aerospace giant following a recent mid-air incident. ...

87. EU implements new VAT transparency rules targeting e-commerce fraud

The EU’s new transparency rules against Value-Added Tax (VAT) fraud have come into effect starting on January 1st, the European Commission has announced....

88. Mount Athos monasteries oppose U.S. Archbishop's visit

In a formal letter addressed to Ecumenical Patriarch Bartholomew, all the monasteries of Mount Athos expressed their opposition to a planned visit by Archbishop Elpidophoros of America during the third ten days of January....

89. Christmas shopping sees supermarket surge, clothing decline

Christmas shopping in Cyprus saw contrasting results, with supermarkets experiencing a better turnout compared to the previous year, while clothing and footwear shops faced a decline, except for children's gifts....

90. How Paphos' Love Bus helps children in need this Christmas

In the enchanting city of Paphos, the holiday season unfolded with the whimsical charm of the "Santa Claus Love Bus," setting the stage for a festive journey that ignited the Christmas spirit among locals....