News

Industrial turnover at its highest historical level in April 2022

06.07.2022 According to data released by the Statistical Office of Cyprus on Tuesday, industrial turnover reached its highest level in a month in April this year, recording a significant increase..

Economic strategy designed to tackle future challenges

06.07.2022 Finance Minister Konstantinos Petrides on Wednesday said the government's long-term economic strategy, Vision 2035, is action-based and designed to address the challenges Cyprus will face in the coming years...

Minister Kyriakos Kokkinos is taking part in the Government’s 26th Annual Roundtable of Economists

06.07.2022 The Deputy Ministry of Research, Innovation and Digital Policy on Tuesday announced that Minister Kyriakos Kokkinos is taking part in the Government's 26th Annual Roundtable of Economists, which runs..

EU employment rate improves

06.07.2022 Eurostat, the statistical office of the European Union, on Tuesday announced a slight improvement in overall EU employment in the first quarter of 2022 compared to the fourth quarter..

Five-star hotel and two towers of the Archdiocese in Paphos

05.07.2022 Under new circumstances, the Department of the Environment has given the green light to the Holy Archdiocese of Cyprus' bid to build the five-star Diamond Essence Hotel in Geroskipou,..

Apartment and house prices continue to bite

05.07.2022 Residential property prices are on an upward trend as, according to the House Price Index of the Central Bank of Cyprus, house prices in the first quarter of 2022..

Minister Vassilios Demetriades is currently on an official visit to Japan

05.07.2022 The Deputy Ministry of Shipping on Monday announced that Minister Vassilios Demetriades is currently on an official visit to Japan. During his stay in the country, the minister will..

Attracting foreign investments key for growth says president

05.07.2022 PwC Cyprus said on Monday that international investment is critical to the Cypriot economy, which was highlighted during the Invest Cyprus International Investment Awards. The event took place on..

DBRS: Hub of financial stability commercial real estate

04.07.2022 The commercial real estate sector remains an important sector in terms of the size of its assets and the impact this can have on financial stability, stresses the credit..

Nicosia’s new major development before prospective buyers

04.07.2022 GPR Green Park Residences Ltd, developer of The Courtyard, invited potential buyers to CVAR - Severis Foundation to present a residential project in Nicosia. Participants watched the presentation of..

GoDeals: Discounts on plots of land in Paphos

04.07.2022 Gordian is listing a number of new discounted lots for sale as part of its revamped GoDeals portfolio. The plots are located in the countryside of Paphos and are..

Cyprus will emerge stronger from the current crisis

04.07.2022 Cypriot President Nikos Anastasiades said on Friday that he is cautiously optimistic that the island, as it did during the 2013 crisis and the Covid-19 pandemic, will emerge stronger..

Harmonized inflation in Cyprus rose to 9.1%

04.07.2022 Harmonized inflation rose to 9.1% in Cyprus in June compared to June last year, setting a new all-time high, helped by rising energy prices. According to Eurostat's operational estimate,..

Fiscal Council warns of adverse revision of growth projections

04.07.2022 The Cyprus Fiscal Authority has expressed concern over the delays in the implementation of the Cyprus Recovery and Resilience Plan, warning that if further delays occur, it will unfavorably..

Bank of Cyprus announces voluntary retirement scheme

04.07.2022 The Bank of Cyprus on Monday announced that it will implement a voluntary retirement program that will aim to reduce its workforce by 15%, which is approximately 500-600 employees...

Employment and production value fell in Cypriot industrial sector in 2020

04.07.2022 Employment in the broad industrial sector declined by 1.5% in 2020 to 39,100 compared to 39,700 in 2019, according to the results of the Industrial Production Survey 2020 released..

Lease subject to the sale of a property

04.07.2022 The lease agreement stipulates that if the property is sold, the lease agreement is terminated. If an application for an interim order uses a remedy similar to that sought..

Increasing the chances of selling an older house

04.07.2022 Homes that are 30-40 years old probably need improvement to match today's living standards, especially buildings that were built to the specifications of the owner at the time. This..

Russian, Ukraine investors push up real estate demand

04.07.2022 The desire of Cyprus to attract high-tech companies, combined with the increased interest of firms to relocate from geopolitically unstable regions, is expected to increase the demand for real..

Port of Latsiou: The expansion and a historical look back in time

03.07.2022 The importance of the Port of Latsios has been great for centuries, according to Panagiotis Agathokleous, Director of Limassol-Paphos-Lazios Ports, who added that for the Cyprus Ports Authority, it..

The American University of Beirut received planning permission

03.07.2022 On Friday, July 1, an urban planning permit was issued by the central city planning authority for the American University of Beirut to be built in Paphos, according to..

Pushback to VAT change on home buys

03.07.2022 MPs have not decided whether to pass a European Union directive reducing the size of homes eligible for a 5% VAT reduction or face heavy financial penalties, while the..

The country’s International Investment Position improved slightly at the end of the first quarter

02.07.2022 The Central Bank of Cyprus released a report this week that notes that the country's International Investment Position (IIP) improved slightly at the end of the first quarter. In..

Measures to reduce the price of electricity in Cyprus

02.07.2022 The President requested a meeting with the Ministers of Energy and Finance, the Cyprus Energy Regulatory Authority (CERA) and the Cyprus Electricity Authority (EAC) on Friday demanding a reduction..

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