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691. Funds are investing in Cypriot banks

Investing in Cypriot banks is becoming more common. The progress they have made in terms of the non-performing loan burden they have shed, their capital adequacy, which is characterized as good,...

692. Portugal's golden visa program netted €654.2 million in 2022

Investment in Portugal through golden visas in 2022 reached €654.2 million, representing a 41.9 per cent increase compared to the previous year....

693. Looking ahead to 2023: House prices in Cyprus

The end of 2021 saw Europe’s and Cyprus’ economies gradually recovering from the two-year rollercoaster ride of lockdowns, the stock market at record highs, and inflation increasing....

694. Projects in excess of €48 million will begin in the first quarter of 2023

Projects worth more than €48 million will be tendered in the first quarter of the year under the Cyprus Tomorrow Plan, according to Government Spokesman Marios Pelekanos....

695. Hollywood executives brace for ‘year of turmoil’ in 2023

Hollywood executives are bracing for a brutal “year of turmoil” as the entertainment business faces the combined threat of an economic recession, slower streaming growth, a cinema industry on life support and a potential writers’ strike....

696. The landscape of bank equity is changing in Cyprus

A day before 2022 came to an end, Eurobank made the announcement that it had added 3.2% more shares of Hellenic Bank, bringing its total to 29.2% (pending regulatory approval), and altering the bank's balance "for good"....

697. The 2023 investment chessboard

Today's data is completely different from what it was a year ago in terms of investment....

698. Economic events that will be remembered in 2022

The energy crisis, which intensified after Russia's invasion of Ukraine and resulted in skyrocketing gas prices, took the lead throughout the year....

699. Nikos Christodoulides’ program for the next five years

Cypriots will go to the polls on February 5 to elect the 8th President of the Republic. The campaign began very early compared to previous elections and will intensify during the remaining few weeks. ...

700. Cyprus braces for credit ratings in 2023

The ratings will take place in a year marked by a projected economic slowdown, amid the continued uncertainty that clouds the economic outlook, due to high inflation and the energy crisis, fueled by the continuing war in Ukraine...

701. When will Cypriots begin to reap the benefits of natural gas?

Minister of Energy, Trade, and Industry Natasha Pileidou hailed the discovery of a natural gas deposit in Block 6 of the Cypriot EEZ as a very positive development. Given the energy challenges the European Union is facing,...

702. Lebanese drinks giant Kassatly building plant in Ypsonas

Lebanese drinks giant Kassatly Group Holding has started work on a new plant in Cyprus under “Boutique Beverage Bottling Int’l Ltd” as part of ambitious plans to move the brand from a regional powerhouse to a global player....

703. Kalopanayiotis and Pissouri - WTO's 'Best Tourism Villages' 2022

Kalopanayiotis and Pissouri, two Cypriot villages of Nicosia and Limassol districts respectively, are among the villages participating in the Upgrade Programme of the UN's World Tourism Organization (UNWTO) to become "Best Tourism Villages"....

704. Eva Kaili: From city council to city prison

705. Cyprus to impose minimum 15% tax on multinational corporations

Cyprus Ministry of Finance said on Friday it will introduce a 15% minimum corporate tax rate on multinational and domestic groups or companies with a combined annual turnover of at least €750 million while examining ways to mitigate any possible adverse impact on the Cypriot economy....

706. Finance Ministry: 'Cyprus economy will not enter a recession'

There will be a significant slowdown in economic activity next year, we will be affected by increased energy prices and borrowing costs, but "inflation in Cyprus is being reined in at lower levels" compared to other European member states, ...

707. Calculating tax revenue for the passport program is challenging

It is impossible to estimate and link the amount of government revenue from the CIP to the individuals covered by it....

708. Grant Johnson: City of Dreams Mediterranean will be the game changer for Cyprus’ hospitality industry

The multi-themed City of Dreams Mediterranean resort in Limassol, which will include a luxury hotel, casino, entertainment and sports facilities, adventure park, shops and restaurants, among others, will begin operations in the second quarter of 2023. Grant Johnson, the General Manager of COD analyzes what exactly the City of Dreams Mediterranean will be, what it will offer to the tourism product of Cyprus, how it will strengthen the country's economy and its position as a popular tourist destination and at the same time he analyzes how this project will have significant benefits for the local community and its people. ...

709. TikTok to be outlawed on US government-owned devices

The US Senate late on Wednesday passed by voice vote a bill to bar federal employees from using the Chinese-owned video-sharing app TikTok on government-owned devices....

710. Aretaeio Hospital has been purchased by Hellenic Healthcare Group

Hellenic Healthcare Group has completed its acquisition of Aretaeio Medical Center Ltd....

711. Cyprus to extend FTX EU license suspension

Cyprus’ securities regulator plans to extend the suspension of the license of FTX EU and will meet to discuss the matter next week, a spokesperson said on Tuesday...

712. November's real estate performance

The year is almost over, and we now have a good idea of how the real estate market performed in 2022. As we all know, the difficulties were and continue to be numerous....

713. Gatzke returns to Hellenic

Oliver Gatzke, CEO of the Hellenic Bank, has returned to the Bank of Greece's headquarters as of today, December 12....

714. Consulco launches its direct real estate investment services

Consulco, the London investment specialist has launched its direct real estate investment services assisting overseas investors to acquire and manage residential properties in central London. ...

715. The sky's no longer the limit when using your smartphone

Passengers aboard flights in the European Union will soon no longer be required to put their phones on airplane mode and will be able to make phone calls as well as use their mobile phones to the maximum of their features and capacity as airlines will be providing the latest 5G technology on their planes....

716. Hellenic CEO cleared of any wrongdoing

Oliver Gatzke, CEO of Hellenic Bank, has not been linked to any suspicious activity, according to the Cyprus Securities and Exchange Commission (CySEC)....

717. Indonesia: Unmarried couples could face jail time for having sex

The Indonesian parliament has unanimously approved strict new laws that will criminalize sex outside of marriage....

718. Cyprus scores funds for Euromed Tech Hub

The creation of the Euromed Tech Hub in Cyprus was unanimously decided last week by the Board of Directors of ANIMA Investment Network, a press release by Invest Cyprus says...

719. Popular hotel chains set up shop in Larnaca

The Accor Group, a major French hotel chain, recently made an official announcement about the opening of its first unit in Cyprus. ...

720. Dept of Labour: 'Our social security fund is sound'

According to the Ministry of Labour and Social Insurance, the General Social Insurance Plan's most recent actuarial study shows that the amendments made up until 2012 ensure the long-term viability of the Social Insurance Fund and that,...