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91. AstroBank's record-breaking year: €30.4M in profits for 2023

AstroBank reported Profit After Tax of €30.4 million for 2023, representing a return on equity (RoE) of 13.9%, compared with €12.2 million and RoE of 6.2% for 2022, achieving an increase on profit of 150%, mainly due to increased interest income....

92. CBC Governor faces toughest banking challenges yet

A new dawn breaks with the appointment of Mr. Christodoulos Patsalides as the Central Bank of Cyprus's new governor, heralding both promise and challenge....

93. Cyprus Investment Association unveils €8 billion in projects

Members of the Cyprus Association of Large Investment Projects unveiled ambitious plans Thursday, highlighting 18 to 20 projects valued at over €8 billion. ...

94. Interior Ministry clarifies asylum seeker employment rights

In a recent statement, Cyprus' Interior Ministry provided clarity regarding the right to work for asylum seekers. According to the statement, all asylum seekers, regardless of origin, are not permitted to access employment until nine months have passed from the date of their asylum application....

95. Countdown begins for next Cyprus Central Bank Governor

As the clock ticks towards the end of Mr. Konstantinos Herodotou's tenure on April 11, all eyes are on the impending announcement of his successor by President Nikos Christodoulides. ...

96. EU reform proposals spark concern among small states

Germany and France are pushing for significant reforms within the European Union, including the abolition of unanimous decision-making and a reduction in the number of Commissioners....

97. Employers call for tax reform to spur economic growth

Employers are advocating for a comprehensive overhaul of the tax system, proposing significant changes aimed at boosting economic activity and competitiveness. Here's a breakdown of their proposals:...

98. Cyprus maritime sector advances amidst ambitious goals

''Without a doubt, we take pride in the achievements of the past 60 years. Our ambition is to set even higher targets and strengthen the competitiveness of Cypriot shipping,...

99. 2% of homes in Cyprus used as Airbnb accommodations

A recent report reveals that a staggering 2% of homes in Cyprus are being utilized as accommodations on Airbnb, highlighting concerns about housing availability and regulatory oversight. ...

100. EU simplifies work permit rules for third country nationals

The European Parliament recently voted on new rules for non-EU citizens who want to work and live in the EU. These rules aim to simplify the process of obtaining a work and residence permit....

101. KEDIPES preps for major loan sell-off, boosting Cyprus banks

In a strategic move to streamline its assets, KEDIPES is gearing up to offload a second batch of performing loans, hot on the heels of its €58 million deal with the Bank of Cyprus....

102. President Christodoulides' candid year-one address

In a televised address marking the completion of his first year in office, President Nikos Christodoulides highlighted the achievements and priorities of his administration. Emphasizing transparency and accountability, the President outlined the following key areas of focus:...

103. Transport Ministry enhances traffic surveillance with 170 new cameras

In a bid to revolutionize its traffic monitoring capabilities, the Ministry of Transport in Cyprus is embarking on a strategic initiative....

104. Communities lay foundation for future governance

Beyond the spotlight on municipalities due to identified weaknesses in the preparation and implementation stages, a transformative wave is on the horizon for communities set to operate under a new regime starting July 1st....

105. Government reveals setbacks in local governance overhaul

The Cypriot government admits to deficiencies in its largest administrative overhaul since the Republic's inception, just four months before its official launch....

106. Dedicated checkpoint lane eases travel for students and enclaved

A dedicated lane has been established at the Ayios Dometios checkpoint in Nicosia to streamline the travel process for students residing in Turkish-occupied areas attending school in the government-controlled regions of the Republic, ...

107. Iconic Andy's Pizza bids farewell after 54 years

A beloved Nicosia restaurant, Andy's Pizza, renowned for its 54-year legacy, will close its doors as of March 1, transitioning into a new chapter....

108. Ministry unveils enhanced vaccination drive

Starting Monday, May 2, 2024, the Ministry of Health has revealed a comprehensive update to the vaccination campaign targeting COVID-19 and influenza across the nation....

109. Digital Citizen initiative for streamlined services

President Nikos Christodoulides announced a series of policy actions aimed at improving citizens' daily lives and enhancing their overall quality of life, alongside legislative and other initiatives geared towards modernizing state structures and institutions....

110. Foreclosure fate tied to 'Mortgage-to-Rent' scheme

Cyprus' parliament has given the green light to a groundbreaking law aimed at empowering homeowners and offering relief in the face of mortgage challenges....

111. Macan sets new standards: the first all-electric SUV from Porsche

112. Cyprus secures €40M boost for green energy storage

The Republic of Cyprus has secured €40 million from the Just Transition Fund for energy storage facilities, addressing the inflexibility of its electricity system in storing excess energy from renewables....

113. Landmark golden passport trial begins Feb 15

The Nicosia Criminal Court gears up for a high-stakes trial in five months, probing the naturalization of foreign investors and a potential twist involving a Chinese businessman....

114. 'One Stop Shipping Centre' launched to boost competitiveness

The One Stop Shipping Centre has set sail in Cyprus, marking a significant development for the Cypriot shipping industry. Launched by the Deputy Ministry of Shipping under the President of the Republic,...

115. Putting the new Macan through its paces in the name of performance and efficiency

Porsche is putting the prototype of the all-electric Macan through an exacting and gruelling test programme to prepare the follow-up to the successful SUV for its upcoming world premiere. ...

116. Companies grapple with soaring fines amidst regulatory confusion

There's a significant issue with hefty fines hitting companies hard – we're talking about a daily hit of €100. The crux of the matter lies in a bureaucratic mix-up regarding the accurate records of company ownership, managed by the Company Registrar....

117. Government takes bold steps to speed up construction approvals

The Ministry of Interior in Cyprus is on a mission to simplify the development control system by implementing a comprehensive package of 22 measures in collaboration with the Cyprus Scientific and Technical Chamber (CSTC). ...

118. Cyprus redefines sustainability with new renewable energy grants in housing

In an exclusive announcement, the Ministry of Energy, Trade, and Industry is reaching out to stakeholders for their input on the innovative ''Grant Scheme for Renewable Energy and Energy Saving in Housing 2024-2025.''...

119. 2024 budget gets green light – Inside scoop on state wage proposals

The 2024 budget was passed into law relatively comfortably, with a total of 37 MPs voting for it, while 19 were opposed. ...

120. Israel and Cyprus to speed up plan for Gaza aid

In a diplomatic endeavor set against the backdrop of Cyprus, Israeli Foreign Minister Eli Cohen embarked on a working visit to discuss a groundbreaking initiative aimed at expediting the delivery of humanitarian aid to Gaza....