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931. Price hike of raw materials affecting developers and construction costs

The construction industry is suffering as the price hike of raw materials continues, with developers crushed under higher costs as they are deprived of Russian money....

932. Op-ed: ESG, DEI and other acronyms and why we need to know about them IMHO*

Quite a few times I found myself receiving messages and having to pause and google search an acronym to understand its meaning. I’m sure I’m not alone, and it’s surely not just a Gen X symptom....

933. 'A historic day': British bases lifts restrictions on civilian property development

Eight years after the signing of a bilateral Arrangement between Cyprus and the UK, the SBA is today lifting restrictions on property development on 200 square kilometers of non-military areas within the bases....

934. First ever publicly financed equity fund will benefit Cyprus startups

The Ministry of Finance has long been committed to introducing a financial instrument to support startups and innovative companies with equity financing, ...

935. Cyprus' RCB Bank and its Kremlin ties

On March 24, Cyprus’s fourth-largest bank announced it would wind down its banking operations in the wake of the “volatile geopolitical situation” caused by Russia’s invasion of Ukraine a month earlier....

936. K. Treppides & Co Ltd: Pillar Two on a Global Minimum Taxation

On 22 December 2021, the European Commission proposed a Directive on the introduction of a minimum effective corporate tax rate of 15% on large multinational enterprise (MNE) groups operating in the European Union (EU)....

937. Cyprus struggles to find anti-corruption auditors

Efforts to assign members to a transparency commission are said to be stalling in the Republic of Cyprus, with politicians from the opposition crying foul over connections between some candidates and the country’s disgraced golden passports program...

938. Petrides: Government to continue support measures for vulnerable groups

The government is determined to continue the support it has been providing to vulnerable population groups against rising inflationary trends said Finance Minister Constantinos Petrides, speaking on the sidelines of the presentation of the Sponsorship Scheme for Student Dormitories and Rooms in the old city of Nicosia....

939. Cyprus and EU economies facing a 'twin problem' following the war in Ukraine

The EU and Cyprus economies are facing a “twin problem” of rising commodity and energy prices and heightened uncertainty following the invasion of Russia in Ukraine, according to discussions held by the Nicosia Chamber of Commerce and Industry and the European Investment Bank (EIB)....

940. EY Survey: Growing sustainability risks put pressure on law departments

Law departments around the world are facing a rising tide of risks relating to sustainability, but they do not feel that business leadership fully understands the implications, and they require additional resources to manage them effectively, according to a new study from EY Law and the Harvard Law School Center on the Legal Profession....

941. Consulco’s London Credit Fund Q1 2022 Results

Consulco achieved a remarkable first quarter of 2022, during which our London Credit Fund achieved a dividend of £ 13.07 per unit of its Class A shares, $ 11.14 per unit for its Class C shares and € 9.00 per unit for its Class E shares. ...

942. More ‘Golden Passports’ revoked

The Council of Ministers decided last week to revoke the citizenship of four more Russians, including their family members, who obtained ‘Golden Passports’ under the island’s disgraced Citizenship by Investment scheme that was brought to an abrupt end in November 2020....

943. K. Treppides & Co Ltd: Letting your property in Cyprus through online platforms (e.g. Airbnb)?

The economy of Cyprus is largely dependent on tourism, and this is evident from the fact that government revenues from tourism accounted for over 12% of Cyprus GDP in year 2019 (in accordance with publicly available statistics extracted pre Covid-19 pandemic). ...

944. SBA land run rules in foreign investors

More opportunities and fewer restrictions for land development on SBA land went into effect on Monday in Cyprus, where foreign nationals will be allowed to invest along with locals who now have to review details and move quickly with any possible objections...

945. EY report: a resilient grid supported by digital solutions will underpin a successful transition to eMobility

Adoption of eMobility is not just an economic or environmental phenomenon, but a psychological one that hinges on widespread customer acceptance. The current pace of EV adoption is swift, with one- in- five vehicles sold in Europe during 2021 being electric. ...

946. The MSCI 2021 results are in - Consulco Outperforms the Market

The MSCI results are now available, and Consulco’s London commercial real estate portfolio has outperformed the Greater London Retail property market in all time frames over 3, 5 & 10 years, achieving a 7.5% total return per annum since inception....

947. EBO and KPMG Cyprus announce strategic partnership

EBO, a leader in customer engagement automation that empowers enterprises through AI technology enters into a strategic partnership with KPMG Cyprus, a leader in Management Consulting & Technology Advisory services offering assistance to organizations by identifying and solving the challenges that stand in the way of their growth and excellence....

948. K. Treppides & Co Ltd: Cryptocurrency - Having your regulated firm able to trade in cryptocurrency

Decentralized digital currency era began in 2008 by an unknown person named Satoshi Nakamoto which invented Bitcoin, the very first cryptocurrency. ...

949. EIB ready to offer funding to mitigate effects of Ukrainian war on Cyprus

New investment opportunities in Cyprus, as well as funding to mitigate the effects of the war in Ukraine, were discussed on Monday by President Nicos Anastasiadis, Finance Minister Constantinos Petridis and European Investment Bank (EIB) President Werner Hoyer. ...

950. 'The Cypriot economy must be diversified'

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities on March 11–28, 2022 to discuss recent economic developments and policy priorities....

951. EIB President visits Cyprus to discuss support for new investments

European Investment Bank President, Werner Hoyer, is in Nicosia meeting with representatives of the Cypriot Government today....

952. Have reasearchers found a way to turn back the clock?

People could eventually be able to turn back the clock on the cell-aging process by 30 years, according to researchers who have developed a technique for reprogramming skin cells to behave as if they are much younger....

953. Zelensky wants Cyprus to get tough on island’s Russians

Ukrainian President Volodymyr Zelensky is urging the Republic of Cyprus to strip Russians of their golden passports 'without exception' and only ease up on dual citizens if they condemn what he called 'war crimes of their military' in Ukraine....

954. K. Treppides & Co Ltd: Cryptocurrency: The requirement of a firm to service the local market trading in cryptocurrency

955. CYCLOPS: 'The crown of our security co-operation', says Kasoulides

On Wednesday, US Undersecretary for Political Affairs, Victoria Nuland, and Foreign Minister, Ioannis Kasoulides, expressed their wish that the Cyprus Center for Land, Open-seas, and Port Security (CYCLOPS) will help promote security in the region....

956. Cyprus breaks into the French market

New prospects for tourist arrivals from France have opened both in the short-term and medium-term, Deputy Tourism Minister Savvas Perdios has told CNA, noting that Cyprus has managed to break into the French market after three long years....

957. K. Treppides & Co Ltd- Cryptocurrencies: Regulating cryptocurrency trading in Cyprus

958. Cyprus growth expected to ‘slow sharply’

Economic growth in Cyprus will slow sharply before recovering, due to the shock associated with the war in Ukraine, the International Monetary Fund has said, adding that the key near-term challenge “is to calibrate a policy response to the economic fallout from the war in Ukraine.”...

959. Revoking golden passports to Russians ‘impossible’

An EU recommendation to member states to recall passports issued to Russian and Belarusian oligarchs on the bloc’s sanctions list puts Cyprus in an awkward position....

960. Lagarde: Cyprus will be affected by inflation and rising energy costs

Cyprus will be affected by inflationary pressures and higher energy costs due to its dependence on oil imports for electricity generation, according to European Central Bank President Christine Lagarde....