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31. Ministry's robust €65.2M budget signals ambitious 2024 plans

At 65.2 million euros, the proposed budget of the Ministry of Tourism for 2024 surpasses previous years, accounting for initial budgets and excluding additional expenditures....

32. KEDIPES introduces 'Rent-to-Own' scheme for vulnerable households

Starting December 4, the government, in collaboration with KEDIPES, opens applications for the innovative "rent for hire-purchase" scheme. This initiative aims to fully settle loans secured on the main residences of vulnerable households, offering a lifeline to those facing financial challenges....

33. PPC becomes new owner of ''Kotsovolos'' in €200 million deal

In a significant development, PPC, the Greek energy company, has emerged as the new owner of the popular retail brand "Kotsovolos." This transition was facilitated through a deal with the British group Currys, valuing the acquisition at €200 million, entirely free from loans and lease obligations....

34. Greece and Cyprus key to evacuation plans for US citizens in Israel

Key to the emergency plans devised by the United States and other Western nations for evacuating their citizens from Israel are Greece and Cyprus. ...

35. Scandal involving subsidies for T/C land use sparks outrage

A recent 2022 Audit Office report raises concerns about the use of Turkish Cypriot and state land in Cyprus. Roughly 30 companies and individuals receive substantial subsidies from the Cyprus Agricultural Payments Agency, despite some lacking state contracts....

36. Angels Pet Cemetery redefines pet farewell in Cyprus

Angelos Petevinos, a devoted pet owner, found himself in a heart-wrenching situation a few years ago when his beloved dog, Sushi, fell seriously ill....

37. Violent clashes between tenants and property owners as rents spike 700%

A craftsman in Turkey, who has been diligently paying rent for two decades, now finds himself threatened with eviction due to an unexpected rent increase of nearly 700%. His monthly rent has surged from 3,200 Turkish lira (110 euros) to a staggering 25,000 lira (867 euros)....

38. Foreign buyers flock to Cyprus real estate

Recent data on property sales in Cyprus reveal distinct trends in different provinces. Notably, the real estate landscape in Nicosia contrasts sharply with that of coastal provinces....

39. Local governments lease, but rarely police

In an effort, years ago, to modernize the state and make it work better at all levels, important and critical responsibilities were assigned – and rightly so – to local government bodies. ...

40. 2022 marks best real estate year in 14 years

DANOS, a prominent real estate consulting agency, hails 2022 as a remarkable year for Cyprus real estate, breaking through the economic challenges and awakening from the post-COVID stagnation. ...

41. Rapid expansion for Cyprus Airways

Cyprus Airways in the first half of 2023 carried a total of 260,000 passengers marking a steep increase of 300% year on year, while it doubled its operations compared with June of last year....

42. Larnaca - Piraeus ferry ready to set sail in ten days

In ten days, on July 29, the Larnaca - Piraeus ferry line is set to launch, and the demand has surged, with the Daleela ferry already fully booked. According to Deputy Minister of Shipping, Marina Hadjimanoli, who spoke on the show "Διασπορά Ειδήσεων" on SPOR FM,...

43. Varosha hotels now accepting bookings for 2025

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

44. 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....

45. 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....

46. Sweden's NATO Membership hangs in the balance as Turkey poses last-minute hurdle

The developments surrounding Sweden’s NATO membership are rapidly unfolding, with indications pointing towards an imminent announcement of an agreement during the Vilnius summit held on July 11-12. However, there remains the possibility that Turkey may disrupt the proceedings at the last moment....

47. Cyprus Airways Upgrades Fleet to A220, Unveiling Joint Conference with Airbus at Paris Air Show 2023

48. Nicosia attracts millions in investment opportunities

A new investment exceeding 60 million euros is currently in the study phase, focusing on the development of a strategically positioned plot in Nicosia. ...

49. Climate change and increased wildfires

The occurrence of the first wildfires just before we officially enter the summer period can be perceived as a warning of the danger that Cyprus faces in experiencing extreme environmental destruction from fires in the coming period....

50. Local home buyers feel priced out in divided Cyprus

Cypriots on both sides of the divided island have been noticing real estate prices going up in recent years due to foreign buyers willing shell out more, with reports suggesting the trend is going nowhere but up...

51. Attica's real estate market delivers 126% returns in last 5 years

The housing market has recently evolved into one of the most profitable investments, with a return of up to 126% during the last five years (2017-2022)....

52. Chevron pushes forward with Cyprus tricky move

Chevron has reportedly started drilling a key appraisal well offshore Cyprus, a development mired in geopolitical controversy over the ethnically-split island as well as neighbor relations...

53. €130M grant plan proposed for 358 refugee apartment buildings

In an effort to effectively manage buildings in government housing estates and address observed structural issues, the Ministry of Interior has prepared a comprehensive Sponsorship Plan to be presented at Friday's Cabinet meeting. ...

54. MEP's pass bill banning home sales or rentals without energy upgrade

All properties available for sale or rent must incur compulsory energy upgrade costs, costing tens of thousands of euros, from 2030 onward, based on what is stated in the relevant European Union directive....

55. Petrol stations open their doors to electric mobility

Petrolina Holdings Public announced last month the installation of the first state-of-the-art electric vehicle rapid charging charger at its petrol station in Larnaca's GSZ district....

56. HSBC buys failed Silicon Valley Bank in bid to stem fallout

Governments in the UK and the U.S. took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down....

57. Early data point to large gas deposits off Crete

Seismic data obtained so far by the Sanco Swift, the Norwegian exploration vessel leased by ExxonMobil, southwest of the island of Crete, allegedly point to the existence of large natural gas deposits in the area...

58. The 2023 investment chessboard

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

59. FT: Former PWC Cyprus accountants take on company's Russian clients

A group of PwC partners has launched a breakaway firm in Cyprus to take on work from Russia-linked clients that the Big Four accountants will no longer touch....

60. Cypriot president meets pope at the Vatican

Cypriot President Nicos Anastasiades met with Pope Francis at the Vatican on Monday, with the two men reportedly discussing bilateral issues including refugees following the Holy Father’s visit to the divided island last year...