News

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..

Start of construction works for the Pafos-Polis Chrysochous highway

01.07.2022 The start of construction work on the Paphos-Polis-Chrysochous motorway was welcomed by the President of the Republic, Nikos Anastasiadis, in a Twitter post. The President described the motorway under..

Total deposits in the Cypriot banking system declined in May

01.07.2022 According to a report released by the Central Bank of Cyprus (CBC) this week, total deposits in the Cypriot banking system declined in May, but still almost double the..

Average gross monthly earnings increase

01.07.2022 According to a report published this week by the Statistical Office of Cyprus (Cystat), the average gross monthly earnings of employees in the first quarter of 2022 was 2019..

Cyprus property values and numbers growing

01.07.2022 The Cyprus property market is growing and becoming more expensive as the number of properties increase by 1.5% and their total value increased by 2.2% based on January 2021..

EU blocks ‘generous’ mortgage-to-rent scheme

01.07.2022 Brussels has told Cyprus to "hold their horses" over a new attempt to throw another lifeline, a mortgage-to-rent scheme, to poor borrowers to help them keep their homes and..

Paphos: The intelligent management of parking spaces is in operation

01.07.2022 The Municipality of Paphos is taking another important step towards achieving its strategic goal of making Paphos a smart and digital city by launching a smart parking management system..

Nouris: Cyprus has “modern and improved” legislative framework for local administration

31.06.2022 After more than a decade of efforts, we have succeeded in creating a new, modern and improved legal framework for local government, Interior Minister Nikos Nouris said at an..

Equity fund, a significant milestone in the efforts to enhance alternative financing

31.06.2022 Finance Minister Konstantinos Petrides has long sought to introduce a financial instrument to support start-ups and innovative companies with equity financing, adding that the agreement with the European Investment..

Government records surplus of 1% of GDP in Q1 2022

31.06.2022 The preliminary results of the general government budget prepared by the Statistical Office of Cyprus (CyStat) indicate a surplus of 1% of GDP, which is 239.3 million euros, for..

Registered unemployed drop annually by 63.8% in April 2022

31.06.2022 According to data released by the Statistical Office of Cyprus on Wednesday, the number of unemployed people registered with the district labor offices on the last day of April..

Poyiatzis: Reversing climate of distrust a “big challenge”

31.06.2022 "It's a big challenge" to deal with the prevailing climate of distrust in institutions in society, newly appointed transparency commissioner Haris Poyatzis told CNA Wednesday. “This is a great..

EP approves report on application of provisions in the area of Schengen Information System in Cyprus

31.06.2022 The European Parliament approved on Tuesday the report of MEP Peter Kofod on the application of the provisions of the Schengen legislation in the field of the Schengen Information..

Premier of Luxembourg to pay Cyprus an official visit

31.06.2022 Prime Minister of Luxembourg Xavier Bettel will pay an official visit to Cyprus. The agenda of the talks included Ukraine, energy, the migration crisis and the Cyprus issue. Anastasiades'..

Fiscal Council approved Stability Program forecasts, warns of delays

31.06.2022 The Financial Council of Cyprus has announced that it has unanimously approved the Stability Program estimates and projections, which will shortly be submitted to the Commission. However, he warns..

UCY’s ERC slashes Cyprus’ growth outlook

31.06.2022 The Economic Research Center of the University of Cyprus (ERC) lowered its forecast for growth in Cyprus in 2022 due to the consequences of the Russian invasion of Ukraine,..

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