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961. 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....

962. 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. ...

963. 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...

964. 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,...

965. 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....

966. 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"....

967. Eva Kaili: From city council to city prison

968. 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....

969. 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, ...

970. 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....

971. 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. ...

972. 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....

973. Aretaeio Hospital has been purchased by Hellenic Healthcare Group

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

974. 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...

975. 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....

976. 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....

977. 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. ...

978. 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....

979. 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)....

980. 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....

981. 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...

982. 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. ...

983. 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,...

984. 'FTX-style crypto crash won’t happen in Europe'

The cryptocurrency world is reeling after the collapse of crypto exchange FTX — but EU policymakers are patting themselves on the back....

985. Minister says efforts to promote Cypriot wine bear fruit

Energy Minister Natasa Pilides, who also oversees Commerce, said Wednesday that the first National Action Plan to promote Cypriot wine seem to be bearing fruit, as exports of wines in 2021 saw a rapid increase over 60%...

986. Hellenic Bank soon to be under the control of Eurobank

Eurobank is gaining control of Hellenic Bank after purchasing Wargaming's 13.4% stake. With the addition of the 12.6% it held from the purchase of all shares in Third Point Hellenic Recovery Fund in the summer of 2021, it now stands at 26%....

987. Averof: 'Technology firms can't find qualified Cypriot workers'

Averof Neophytou, Presidential Candidate and President of the Democratic Rally, stated after his visit to Murex that the global and Cypriot markets are in need of programmers and technology professionals....

988. Cyprus president wants corruption claims against him investigated

Cyprus’ president on Tuesday called for an independent probe into allegations made by a former aide that he has run a corrupt administration under the influence of Russian oligarchs...

989. World's largest crypto exchange platform to set up shop in Cyprus

The FTX bankruptcy scandal a few weeks ago rocked the entire crypto world to its core, after its founder Sam Bankman-Fried, the "wonderboy" of the crypto trading world,...

990. Small number of banks meeting new loan demand

The net demand for loans from businesses in Cyprus decreased in the third quarter of 2022, and banks anticipate a similar decline in the net demand for loans from businesses and households in all loan categories in the fourth quarter of 2022 compared to the third quarter. ...