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541. Cyprus-Oman double taxation agreement approved

The Council of Ministers approved on Wednesday an agreement for double taxation avoidance and the prevention of tax evasion regarding income taxes as well as the relevant protocol between the Republic of Cyprus and the Sultanate of Oman, Minister of Finance, Makis Keravnos said after the Cabinet meeting....

542. Varosha hotels now accepting bookings for 2025

The latest developments in Varosha have been brought to light by Yeni Bakis newspaper. ...

543. Philippos Soseilos: Significant investment opportunities in Cyprus

544. Groundwater shifts earth, raises sea 31.5in

Water has power. So much power, in fact, that pumping Earth’s groundwater can change the planet’s tilt and rotation. It can also impact sea-level rise and other consequences of climate change....

545. Pseudo-gov't pushes forward with controversial marina project in Varosha

The self-declared pseudo-government in the occupied areas has made a decision to proceed with the construction of a marina intended for private boats and tourism development in Varosha, an area belonging to the Republic of Cyprus....

546. Man fined €120,000 for abandoning kittens

A fine of 120,000 euros was imposed on a 76-year-old resident of Rhodes for abandoning four kittens inside a cardboard box....

547. EY Cyprus announces five new partners

EY Cyprus is pleased to announce that its management team has been strengthened with the addition of five new partners and five new directors in 2023, reaching the total number of 31 partners of whom 6 are women, and 17 directors of whom 8 are women....

548. Cyprus approves €361M supplementary budget for 2023

With criticism against the government's agreement for the purchase of the Metropolitan building, which will house the Ministry of Labor and Social Insurance, the Plenary of the House of Representatives approved the supplementary state budget amounting to €361 million....

549. Applications open for 'Rent in Exchange' program

"The submission of applications for the 'Rent in Exchange for Installment' program will begin in October," said Ioanna Markidou, Chief Economist A' at the Ministry of Finance, in a statement to CNA....

550. Relief for vulnerable households with non-performing loans

The ''Rent vs Instalment Scheme'' was approved by the Council of Ministers today, as announced by Government Spokesperson Konstantinos Letymbiotis following the conclusion of the Council. The European Commission's Directorate General for Competition also granted approval on July 6....

551. Loan demand in Cyprus falls, interest rates rise

The Cypriot banking institutions are holding a small basket for demand in new loans....

552. Ministry of Labor to improve minimum wage policies

Cyprus currently has an outdated software system for pension fund operations. The government aims to expedite the actuarial study for the Social Insurance Fund (TKA) with the support of the International Labor Organization and the government of Austria. ...

553. Cypriot economy on the brink, says Finance Minister

During his address to the House of Representatives and following his presentation to the Parliamentary Finance Committee on the government's comprehensive package of seven measures for addressing foreclosure issues, ...

554. Contentious foreclosure legislation sparks debate in Parliament

The issue of foreclosures remains unresolved and will be the focal point of the upcoming plenary session on Thursday, July 13. ...

555. Diverse music styles unite at Windcraft Music Fest

The Windcraft Music Fest opens its doors for the ninth time on the weekend of July 22nd and 23rd in Katidatata Solia and invites music lovers and those seeking an interesting festival experience to join this celebration of wind instruments and more....

556. BBC under fire for alleged payment of child for explicit photos

The British government on Sunday ordered the BBC to investigate one of its presenters, accused in the press by a mother of having paid her child to send her pornographic photos....

557. Spain: Youngsters to receive 20,000 euros upon turning 18

A universal inheritance is proposed by the Minister of Labor of Spain, Yolanda Diaz, as a means to address social inequalities. Under this framework, all young people living in Spain would receive 20,000 euros after they turn 18....

558. Eurobank's vision: Controlling Hellenic Bank and conquering new markets

According to Bloomberg, Eurobank's deputy chief executive, managing director, and head of international operations, Stavros Ioannou, expressed the bank's desire to eventually gain full control of Hellenic Bank in Cyprus....

559. Parliament approves foreclosure law

A significant mobilization by the Government and the Central Bank of Cyprus took place this week regarding the framework of foreclosures, primarily to withdraw the "problematic" proposal that, according to the state and banks, would have negative consequences for the Cypriot economy....

560. The government's seven proposals for vulnerable individuals

Finance Minister Makis Keravnos submitted seven government actions aimed at addressing issues related to non-performing loans to Parliament yesterday....

561. €2,500 allocated for bus stop development amid outrage

Pictures that have come to light in recent days have stirred up a wave of anger. One shows an elderly woman waiting for the bus at a shelterless stop in the July heat, leaning on a lamppost and holding her cane and shopping bags in her hands....

562. Parliament to vote on law for borrowers' foreclosure appeal

The news from the "Oikonomiki Kathimerini" about the suspension of first home foreclosures up to €350,000 until the end of October has been confirmed. ...

563. President urges solution as foreclosure laws vote approaches

Cyprus is heading towards suspending first residence property foreclosures up to 350,000 euros until the end of October....

564. Approval of additional budget at risk due to parking problems

The approval of the first supplementary budget for 2023, amounting to 361 million euros, may face obstacles due to the lack of adequate parking spaces at the new Ministry of Labor building....

565. Government asks House for money to pay for unbought vaccines

The House finance committee met on Monday to discuss a supplementary budget that would include additional funds to buy more COVID vaccines but also pay fines for fewer orders due to low demand...

566. Double impact on gas station owners

Citizens are in turmoil following the termination of reduced special consumption tax rates on transportation and heating fuels, which resulted in increases of 8.32 cents in gasoline and diesel, and 6.83 cents in heating fuels. ...

567. Global leaders gather for climate summit

Creativity with a Purpose - 10 Years Orb: ORB Communications Team Rebuilds and Designs a Basketball Court, Supporting Voice for Autism and the "Be an Angel" Initiative....

568. Lawmaker insists secret funds were paid to hackers

Recently hacked data from Cyprus’ land registry and the state’s flagship university were back in the news this week, after a lawmaker said he had been told that millions of secret money was paid to cyber attackers, an allegation denied by officials...

569. Nicosia to appoint sanctions czar

The Cabinet on Wednesday decided on a series of measures and actions for the coordination on issues related to sanctions, Government Spokesperson Constantinos Letymbiotis announced...

570. Cyprus unveils culinary brilliance at Gastronomos Awards

The anticipation reached a fever pitch as Cyprus braced itself for the grand culmination of the year-long journey celebrating its prodigious producers....