https://knews.kathimerini.com.cy/en/news/parliament-approves-reduced-vat-rate-on-first-homes
The plenary session of the Cyprus Parliament passed on Thursday almost unanimously a law allowing for the imposition of a reduced VAT rate of 5% on the first 130 sqm of a primary residence, including both houses and apartments...
https://knews.kathimerini.com.cy/en/news/finance-minister-warns-of-vat-consequences
With the deadlines long expired and the saga of amending the Value Added Tax Law to apply the reduced rate of 5% to specific residential square meters dragging on, Finance Minister Makis Keravnos sounds the alarm, emphasizing the palpable risk of Cyprus being taken to the European Court and fined....
https://knews.kathimerini.com.cy/en/news/president-christodoulides-calls-for-stronger-anti-corruption-measures
In a seminar organized by the Cyprus Bar Association on "Independent Anti-Corruption Authority: legislation, practice, and challenges," President of the Republic, Nikos Christodoulides, emphasized the government's commitment to combating corruption and promoting political accountability....
https://knews.kathimerini.com.cy/en/news/nicosia-s-camera-system-gets-an-upgrade
As of June 6, 2023, the traffic camera system in Nicosia will undergo an expansion with the installation of new cameras at two controlled intersections. The move aims to improve surveillance and regulation of traffic in the area....
https://knews.kathimerini.com.cy/en/business/eu-launches-innovative-support-center-for-green-line-trade
The European Commission has announced the establishment of an information and support center, in collaboration with the Cyprus Chamber of Commerce and Industry (CCCI) and the Turkish Cypriot Chamber of Commerce (TCCC), to facilitate legal trade across the Green Line for Cypriot businesses and individuals....
https://knews.kathimerini.com.cy/en/business/divestments-trigger-a-risk-of-backlash-in-the-recovery-fund
As Cyprus races against time to secure €1.1 billion in grants and loans from the Recovery Fund (NextGenerationEU) by June 2026, a new challenge arises. ...
https://knews.kathimerini.com.cy/en/news/usa-child-labor-seen-as-solution-to-labor-shortage
Lawmakers in several states, predominantly Republicans, are pushing for legislation that would relax labor laws for children, allowing them to work in more hazardous occupations, longer hours on school nights...
https://knews.kathimerini.com.cy/en/news/school-bus-safety-32-complaints-only-this-year
The House Transport Committee scrutinized the safety of buses, particularly those transporting students and citizens, during its session on Thursday, May 25. ...
https://knews.kathimerini.com.cy/en/business/eba-tightens-its-grip-in-response-to-sanctions
Following the uproar caused by the lists of sanctions issued by the US, UK, and European authorities, the European Banking Authority (EBA) is tightening its standards in response. ...
https://knews.kathimerini.com.cy/en/business/cbc-urges-banks-to-embrace-transformation-for-sustainablefuture
Constantinos Herodotou, Governor of the Central Bank of Cyprus, emphasized the need for Cypriot banks to seize the current favorable circumstances and address impending challenges during his speech at the 2023 ICPAC Mediterranean Finance Summit held in Limassol on Thursday....
https://knews.kathimerini.com.cy/en/news/19-year-old-advisor-appointment-sparks-political-outcry
The appointment of a 19-year-old student as an adviser to the Deputy Minister of Tourism has sparked political controversy. Both AKEL and DISY parties have released statements condemning the move. ...
https://knews.kathimerini.com.cy/en/news/russia-s-lukoil-completes-sale-of-oil-refinery-in-italy
Russia's second-largest oil producer Lukoil said on Thursday its subsidiary LITASCO had completed the sale of the ISAB oil refinery in Sicily to Cypriot private equity firm G.O.I. Energy following approval by Italian authorities...
https://knews.kathimerini.com.cy/en/news/us-mcdonald-s-franchisee-employed-two-10-year-olds-broke-labor-laws
A McDonald's franchisee in Kentucky employed two 10-year-old children in violation of federal labor laws, the Department of Labor said Tuesday....
https://knews.kathimerini.com.cy/en/comment/opinion/what-s-wrong-with-a-little-transparency
There has been a lot of buzz surrounding e-kalathi in recent days. It is an electronic platform that aims to provide consumers with real-time updates on the prices of products in supermarkets, enabling them to easily find the best deals on their preferred products....
https://knews.kathimerini.com.cy/en/business/taxapp-cy-the-easy-way-to-submit-a-tax-return
With TaxApp, taxpayers can easily and quickly submit their tax returns while ensuring correct submission.
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https://knews.kathimerini.com.cy/en/comment/opinion/the-real-estate-industry-s-crucial-turning-point
The European Parliament recently approved a new bill that aims to tackle climate change by reducing carbon emissions. This new legislation has significant implications for the property markets in Cyprus and Greece, where there is a large stock of buildings over 30 years old and requiring energy upgrades....
https://knews.kathimerini.com.cy/en/news/italy-declares-state-of-emergency
To deal with the recent influx of migrants arriving on the southern shores of Italy, the country's right-wing government has announced a six-month nationwide state of emergency....
https://knews.kathimerini.com.cy/en/news/updated-traffic-schedule-eases-burden-but-requires-motivation-and-deterrents
The flexible working hours in the public service, which were passed by Parliament on Thursday and will come into effect from May 1, are expected to provide some relief to Nicosia's traffic problem....
https://knews.kathimerini.com.cy/en/news/macron-s-mission-in-china-convincing-xi-on-ukraine
https://knews.kathimerini.com.cy/en/comment/opinion/bullying-in-cyprus-from-awareness-to-action
As a researcher and Ph.D. candidate studying the crime of bullying against minors from a criminal and criminological perspective in Cyprus, I am deeply concerned about the increase in bullying in our country. ...
https://knews.kathimerini.com.cy/en/news/ministry-of-labor-building-may-not-be-structurally-sound
The House of Representatives Internal Affairs Committee sounded the alarm on Cyprus and Public Services' degree of preparedness in the event of strong seismic activity following a meeting on March 16. ...
https://knews.kathimerini.com.cy/en/business/the-safety-of-distributors-is-under-the-microscope
Distributors of food delivery platforms continued to demand better working conditions three months after strikes began and consultations began to establish a framework of conditions....
https://knews.kathimerini.com.cy/en/news/americans-traveling-to-europe-for-cheaper-beyonce-tickets
American fans are booking trips to Europe to go see Beyonce, as the price of tickets to attend her performance is exponentially higher in the United States....
https://knews.kathimerini.com.cy/en/business/marinas-of-the-future-with-antiquated-regulations
The need to modernize marina legislation was raised before the House Commerce Committee, with its chairman, Kyriakos Hatzigiannis, declaring his willingness to move forward with a legislative proposal....
https://knews.kathimerini.com.cy/en/news/1-billion-euros-from-the-eu-for-turkey-s-reconstruction
Ursula von der Leyen, President of the European Commission, and Ulf Kristerson, Prime Minister of Sweden, who holds the EU Council presidency, are hosting a donors' conference in Brussels today to raise funds and coordinate aid to those affected by the earthquakes in Turkey and Syria....
https://knews.kathimerini.com.cy/en/business/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....
https://knews.kathimerini.com.cy/en/news/credit-suisse-borrows-more-than-$50-billion-from-swiss-national-bank
Credit Suisse’s shares soared 30% on Thursday after it announced it would move to shore up its finances by borrowing up to nearly $54 billion from the Swiss central bank, bolstering confidence as fears about the banking system moved from the U.S. to Europe....
https://knews.kathimerini.com.cy/en/comment/opinion/real-estate-trends-in-2023
Increased inflation, rising interest rates, rising building costs, rising property values, a slight decline in new development approvals, a slight decline to stabilization in the unemployment rate, a slight increase in GDP, and a slight decline in private lending are just a few indicators of the (very) general economic picture....
https://knews.kathimerini.com.cy/en/business/musk-building-utopian-town-for-employees
Elon Musk has reportedly bought thousands of acres of land about 35 miles outside of Austin and plans to build his own town there for employees to live and work....
https://knews.kathimerini.com.cy/en/business/digital-app-to-compare-product-prices-in-the-works
Following the withdrawal of the Household Basket proposal in Cyprus, the Consumer Protection Service is now promoting the preparation of a bill for the implementation of a digital tool that will enable the daily comparison of retail prices of products....