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91. Turmoil at Vasilikos as Chinese consortium pulls out, terminal project in limbo

The sudden withdrawal of the CPP-METRON CONSORTIUM LTD from the Vasilikos terminal project has added a new layer of complexity to the already troubled initiative. ...

92. BBF, Proud Sponsor of the Year for Limassol Nautical Club, at Road to Paris 2024 Press Conference

BBF, the Official Sponsor Partner of the Limassol Nautical Club (LNC) for the year 2023-24, proudly attended a Press Conference held at the LNC premises on Friday, 12 July 2024, ...

93. Construction of youth housing in occupied Cyprus to begin next month

Within a month, construction will commence on social housing projects for young people in the occupied areas of Morphou and Gerolakkos, according to "Prime Minister" Unal Ustel....

94. Public works enforces €100,000 fine for Nicosia ring road delay

The Public Works Department has activated a contract clause imposing penalties on Cyfield Construction Ltd. for delays in the completion of the first phase of the Nicosia Ring Road....

95. Are we in a real estate bubble?

The real estate market has been steadily rising since 2015, marking the ninth consecutive year of growth in the sector. However, this broad trend has not been without fluctuations, particularly influenced by the economic disruptions of the pandemic era. Monthly analyses of transaction numbers and volumes from this platform illustrate these ups and downs....

96. Polis Chrysochous plans industrial zone, €141M investment

The municipality of Polis Chrysochous is set to undergo a transformative development phase with planned projects totaling €141 million over the coming years, as announced by Mayor Yiotos Papachristofis. ...

97. Yet another delay in Nicosia perimeter road triggers daily penalties for CyField

CyField, the company responsible for constructing Nicosia's perimeter motorway, is bein genalized €5,500 as of today, July 16. The Transport Minister, Alexis Vafeadis, confirmed this development during an interview with SPOR FM 95.00's ''Diaspora News.''...

98. Legal challenges mount over Vasilikos Terminal abandonment

Cyprus is preparing for significant changes in its energy sector following the formal termination of the contract between the Natural Gas Infrastructure......

99. Cyprus faces financial hit as Chinese consortium exits energy project

Following the public admission by Energy Minister George Papaconstantinou, the agreed separation between Cyprus' Natural Gas Infrastructure Company (ETYFA) and the Chinese consortium CPP-METRON Consortium Ltd (CMC Ltd) is imminent, according to a report by Apostolos Tomaras in this Sunday's printed edition of Kathimerini....

100. Cyprus sets course for cheaper electricity in 2025

Energy, Commerce, and Industry Minister George Papanastasiou unveiled Cyprus' ambitious plans for the Electricity Authority of Cyprus (EAC) during a press conference in Nicosia on Tuesday. ...

101. No progress on Cyprus-Greece electricity interconnection project

No progress was made on the Cyprus side's position regarding the Crete-Cyprus electricity interconnection project during yesterday's teleconference, initiated by the European Commission and involving stakeholders from Greece and Cyprus....

102. Ikea to open store on New York's chic 5th Ave

IKEA is set to open a new store in the heart of Manhattan's Fifth Avenue shopping district, serving as the prime anchor of a new office tower, the majority owner of IKEA stores announced Tuesday....

103. Alphamega and Bean Bar ranked among the top 20 Investors in People employers worldwide

104. Complaint filed against Larnaca Wetland construction

The Larnaca Salt Lake Wetland Protection Group has raised alarms over recent interventions in the Natura 2000 site, urging immediate action to halt ongoing projects....

105. State to cover €12M shortfall from licensing revenues

Interior Minister Konstantinos Ioannou expressed satisfaction with the progress of the Local Government Reform, despite minor issues during the initial days of its implementation....

106. Cyprus Law Commissioner teams up with Ireland to improve legal system

Law Commissioner Louisa Christodoulou Zannetou recently engaged in a virtual meeting with Ireland’s Law Reform Commission Chairman Justice Frank Clarke and Commissioner Richard Barrett. ...

107. Reflect Festival highlights traffic and housing challenges in Limassol

The recent Reflect Festival brought forth crucial discussions on pivotal issues affecting Limassol, prominently featuring traffic congestion and housing shortages as central topics. ...

108. Cyprus President denies ENI's plan to sell off sea rights

President of the Republic Nikos Christodoulides has refuted reports that ENI intents to sell its rights in Cyprus' EEZ. ...

109. ECB concerned over Cypriot bank profit tax proposal

In 2023, Cypriot banks reported unprecedented profits, marking a 15-year high, with projections suggesting even greater earnings in 2024....

110. Prountzos says municipalities are here to serve the citizens

The newly appointed Mayor of Nicosia, Charalambos Prountzos, expressed strong confidence in the success of local government reform during the mayoral handover ceremony....

111. Is Larnaca the new Limassol?

Larnaca is dynamically emerging as a key player in investments and major developments, making significant strides in recent years and capturing a new image....

112. Why building a home is rare today

As discussed in our previous article, the housing landscape in our country is changing, with home ownership rates decreasing and aligning with the European average. ...

113. American artist turns Cyprus' ancient stones into vibrant art

Have you ever heard of any Cypriot artists climbing up into the mountains on an extremely hot day just to collect stones and extract colors?...

114. New government website allows you to track projects live

The new website, www.diakivernisi.gov.cy, is a platform where all citizens can stay informed about the implementation of the government's initiatives. It was presented a few days ago by the Deputy Minister to the President, Irene Piki....

115. Paphos-Polis road project faces uncertain future

The long-awaited road project connecting Paphos to Polis Chrysochous, which began in May 2021, faces significant delays and potential abandonment. ...

116. EIB to open local office in Cyprus

The Ministry of Finance announced the opening of a local office of the European Investment Bank (EIB) in Cyprus, highlighting the significant benefits it will bring to the country....

117. Enigmatic 4,000-year-old building found on Crete

A big, round, 4,000-year-old stone building discovered on a Cretan hilltop is puzzling archaeologists and threatening to disrupt a major airport project on the Greek tourist island....

118. BBF announces the full sale of four Class A business centers in Cyprus in the past 12 months

BBF, Limassol’s top luxury residential developer, successfully sold out four Class A office buildings within the last year. Spanning a total area of approximately 20,000 sq. m., the full sale of bbf: latitude, bbf: liberty, bbf: benchmark, and bbf: summit solidifies BBF’s position as a leading name in Cyprus's commercial real estate market as well....

119. Cyprus to sell €1 billion bond after improved credit ratings

The Republic of Cyprus is expediting its return to the financial markets, seeking to leverage recent credit rating upgrades by Fitch and Standard & Poor's......

120. CBC projects 3% GDP growth in 2024

The Central Bank of Cyprus has revised its 2024 forecast for GDP growth to 3%, from 2.8% that was expected last March, mainly due to the upward revision of domestic demand, while it maintained its forecast for growth in the years 2025 and 2026, at 3.1% and 3.2%, respectively....