News

Blue Air to extend its routes

Blue Air launches its winter flight program with Athens, Thessaloniki and Bucharest, which runs from October 27, 2019 until March 2020.Blue Air will operate 13 weekly flights to Athens, 6 flights to Thessaloniki and 6 flights to Bucharest. Continue reading at source:  Cyprus Read More

Emirates Offers Special Fares to Dubai with Complimentary Day Pass

Emirates, the world’s largest international airline, has launched special fares to Dubai for Cypriot travelers. Each ticket will also include a complimentary day pass to Atlantis Aquaventure & The Lost Chambers aquarium– one of Dubai’s most popular touristic attractions.Atlantis Aquaventure is more than just a water park with its record-breaking water slides over 17 hectares of fun. Located at Atlantis the Palm, it’s a true attraction with its 1.2 kilometers of pristine beach and a stunning view of Read More

Irish president begins official visit

Irish President Michael Higgins was given an official welcome at the presidential palace in Nicosia on Monday at the start of his visit to the island, which ends on Tuesday.During talks, President Nicos Anastasiadis was expected to raise the issue of Turkey’s violations of Cyprus’ exclusive economic zone (EEZ).He was also briefing Higgins on the Cyprus issue.They were also expected to discuss Cyprus-Ireland bilateral relations, developments in the EU, and in particular, Brexit, migration and climate change. Read More

President of Ireland to pay state visit to Cyprus on October 13-16

President of Ireland Michael Higgings will pay a state visit to Cyprus from October 13 to 16 at the invitation of President Nicos Anastasiades. This is the first state visit to Cyprus by a President of Ireland since 2006.Cyprus Government Spokesman Prodromos Prodromou told the Cyprus News Agency (CNA) that during the talks that will take place at the Presidential Palace, President Anastasiades will raise the issue of Turkey`s provocations and illegal interventions in Cyprus’ Exclusive Economic Zone (EEZ)  Read More

The Cyprus Securities and Exchange Commission Participates in World Investor Week

The dynamic development of capital markets in Europe, resulting from the companies’ increased need for alternative funding sources, as well as the technological advancements that consistently produce new financial products and services, have created an environment that offers opportunities for the investors and supervising Authorities, but at the same time presents risks. In this context, it is all the more necessary to continue educating the investing public. To this end, the International Organization of Securities Commissions (IOSCO) has been organizing Read More

US president sends congratulatory message for Cyprus' independence day

US President Donald Trump has sent  President Nicos Anastasiades a congratulatory message on the occasion of the Anniversary of the Independence of the Republic of Cyprus.In his message, President Trump said: “On behalf of the United States of America, I send my warmest congratulations this October 1 to the people of the Republic of Cyprus as you celebrate the 59 th  anniversary of your nation’s independence. Continue reading at source:  Read More

Three new regeneration projects planned for Paphos

Three new regeneration projects which will create more pedestrian areas in Paphos will be presented to the public at an open meeting held in the town on Wednesday.The planned projects will cost around €3 to €4 million, according to officials.The event will be held at Palia Ilektriki cultural centre in Paphos old town at 6.30pm and will be conducted in Greek.The three proposals include the regeneration of: the centre of Anavargos village, the southern area of Read More

Cypriot educator wins Global Teacher Award

CYPRIOT teacher Popi Nicolaou has been officially recognised as one of the world’s best as she has taken home this year’s Global Teacher Award.The global competition considers teachers from all over the world and takes place annually in India’s capital New Delhi.This year there were teachers competing from as many as 70 countries. Continue reading at source:  Cyprus Read More

3.5 km extension to Protaras coastal promenade

Work to extend Protaras’ coastal promenade will begin in November at a cost of €4.5 million, Paralimni  Mayor Theodoros Pyrillis told the Cyprus News Agency.He said that bids have been invited with the aim of extending the promenade from Fig Tree Bay to Bali tou Hadjixeni on the one side and from Pernera Beach to Ayios Nicolaos Chapel on the other, covering a total distance of 3.5 kilometres. Continue reading at source:  Read More

Chinese investors in €30 million property deal

PROPERTY in Tsiflikoudia area of Limassol is now in the hands of Chinese investors following a €30 million deal with Bank of Cyprus’ REMU (Real Estate Management Unit). The specific property was taken over by REMU during the restructuring of Laiko Group’s loans and is actually LOEL’s former facilities there.The transaction involves four adjoining pieces of land totalling 32,271 sq. metres. Most of the property (31,171 sq. metres) falls within a residential zone area while a smaller portion (1,100 Read More

New call for free Wi-Fi applications in Cyprus

Municipalities in Cyprus will soon be able to apply for free Wi-Fi in public areas, according to a statement from the Department of Electronic Communications.The European Commission will launch a new call for applications for the WiFi4EU programme on September 19, which will last until 2pm of the following day.In March 2018 the European Commission launched its WiFi4EU web portal to which municipalities all over Europe were invited to register for the chance to benefit from EU financing Read More

Attractive Offer by Cyprus Airways

Cyprus Airways offers the opportunity for great savings, for few days with discounts of up to 46%.The promotion, which started today 3 September and ends 5 September 2019, offers travelers the opportunity to travel to all of the company's destinations in Europe and Middle East at very attractive prices.Trips should take place between 9 September 2019 and 18 December 2019. Seats are limited and subject to terms and conditions. Continue reading at source:  Gold Read More

Blue Air Launches 2020 Summer Schedule

Bucharest, August 9th, 2019 - Blue Air, the largest Romanian airline by the number of passengers, launched its 2020 summer schedule. Blue Air passengers can choose out of the 70 routes in 16 European countries for their next summer holiday.“We are delighted to announce that Blue Air passengers can start booking their summer holiday for 2020. Thus, we continue to provide the best travelling options and fulfil the desires of our Cypriot travellers, whom we are waiting for on board. Whether Read More

FM and Outgoing Ukrainian Ambassador Discuss About Cooperation Between Cyprus and Ukraine

Foreign Minister Nikos Christodoulides and outgoing ambassador of Ukraine Borys Humeniuk discussed on Monday key aspects of cooperation between Cyprus and Ukraine in the political, economic and cultural-humanitarian spheres, in a meeting they had on the occasion of the completion of Humeniuk’s diplomatic mission in Cyprus, a press release from the Ukrainian embassy says.“During the meeting, the parties discussed key aspects of cooperation between the two states in the political, economic and cultural-humanitarian spheres”, the press release reads. Continue Read More

Leaders prepare for meetings with UN envoy

The UN chief’s envoy Jane Holl Lute is expected on the island on Saturday ahead of her separate meetings with the two leaders on Sunday.President Nicos Anastasiades is set to meet with Lute at 11am at the presidential palace. Lute will then meet with the Turkish Cypriot leader Mustafa Akinci in the afternoon.The possibility that Lute will also hold follow-up meetings with the leaders prior to her departure on Monday has not been ruled out. Continue reading at Read More

Universal access bonds transform investment landscape for ex-pats in Cyprus

New financial products that will dramatically alter the investment landscape for ex-pats living in Cyprus and across the globe have been announced today.The launch of the Universal Access Bonds (UABs) has been described as “a game changer” for American ex-pats and US connected persons by the CEO of Woodbrook Group Holdings Limited Michael Doherty.FACTA and stringent tax regulations over the past decade have severely curtailed US expatriates’ financial planning and investment capabilities.Not anymore. The UABs allow ex-pats Read More

BoC Announces Organisational Restructuring

Bank of Cyprus Holdings Public Limited Company has announced a revision of its organisational structure, organising the Group along the structural areas of Functions, Business and Legacy, for the creation of more focus and better alignment with the key objectives of the Group. These include substantially reducing the legacy portfolio, building the core business in the new digital era and streamlining the functional areas of the Group, with emphasis on digital transformation and cost reduction.The below Executives will report Read More

Record Number of Tourists for July 2019

July 2019 had the highest volume of tourist arrivals ever recorded in Cyprus during the specific month, with arrivals of tourists reaching 550,971 in July 2019 compared to 539,626 in July 2018, recording an increase of 2.1%, the Cyprus News Agency reports.  According to the Passengers Survey of the Statistical Service, for the period of January-July 2019, arrivals of tourists totaled 2,181,994 compared to 2,184,775 in the corresponding period of 2018, recording a decrease of 0.1%.Continue reading Read More

Series of works expected to upgrade Peyia

A series of works that has got underway aims to improve the life of the residents of Peyia, mayor Marinos Lambrou said on Sunday.Speaking to the Cyprus News Agency (CNA), Lambrou said the works included new road lighting at a cost of €430,000 throughout Peyia. The financial savings from these new lights is expeted to reach 56 per cent, he said.Also, lighting at the Ayios Georgios fishing shelter has also been completed at a cost of €110,000.continue Read More

Cyprus participates in Israel's Mighty Waves 2019 naval exercise (video)

Cyprus was among 10 countries to take part in ‘Mighty Waves 2019’ a first-of-its-kind multinational exercise held by the Israeli Navy.The forces practised a scenario simulating a major earthquake in Israel with thousands dead, over 100,000 injured, hospitals destroyed and national infrastructure in shambles following a powerful earthquake in northern Israel .The exercise brought representatives from 10 navies and NATO to the Haifa port on Israel’s northern coast, in what Israeli officials said was its largest naval exercise ever. Read More

Four new 5-star hotels in Cyprus within four years

New 5-star hotels in the Limassol and Famagusta districts will pave the way for an 18% rise in the number of available beds throughout Cyprus, according to a KPMG Cyprus report.Specifically, four new super luxury hotels will add a total of 2,590 beds within four years.Construction of the Chrysomare Beach Hotel in Ayia Napa will add 640 beds and the Sun City Resort in Famagusta 460 extra beds before the year’s end. And in 2022, Sofitel Cyprus Limassol will Read More

New criteria for passport scheme come into force next week

THE NEW criteria for the citizenship by investment scheme, which were approved by the Council of Ministers in February and will include the carrying out of due diligence on applicants, have been finalised with some small amendments and will come into force next week.The bad press and criticism from the European Commission forced the government to introduce stricter criteria for the scheme which issues a Cyprus passport to individuals that invest more than €2 million. These investments were usually Read More

Cyprus based HR Innovate among Europe’s best in ‘Ones to Watch’ list

Nicosia based HR Innovate has been named as ‘One to Watch’ in Europe in a list of businesses noted for excellence, published by the European Business Awards, one of the world’s largest and longest running business competitions.HR Innovate was chosen as it demonstrates exceptional achievement in one of the 18 European Business Awards’ categories and reflects the programme’s core values of innovation, success and ethics.An International, multi-stream Recruitment and HR Consultancy, HR Innovate offers customized services and Executive Read More

Nicosia receives EU funds to expand free WiFi

Nicosia municipality on Friday received a voucher for €15,000 for the installation of a WiFi network from the European Commission.Mayor Constantinos Yiorkadjis was handed the voucher by Pierpaolo Tona, project management coordinator of the European Commission’s Innovation and Networks Executive Agency (Inea).The money is part of the Wifi for Europe (WiFi4EU) project, an initiative promoting the development of a free wireless broadband infrastructure in public hotspots, including libraries, museums, public parks and squares. It is meant to cover Read More

Cyprus Agrees Joint Tourist Packages With Neighbouring Countries

Cyprus’ Tourism Deputy Ministry has agreed with Israel, Egypt, Jordan and Lebanon and is expected to soon conclude consultations with Greece on the promotion of joint tourist packages aiming to attract visitors from the United States, Canada, China, Japan and France, the Cyprus News Agency reports.Data collection, analysis and consultations which took place intensively throughout a period of over three months between the countries involved have ended and Cyprus has reached agreement with Israel, Egypt, Jordan and Lebanon while Read More

Cyprus And Egypt To Further Enhance Their Cooperation In Tourism

Cyprus Deputy Minister for Tourism Savvas Perdios and Egyptian Minister for Tourism Rania al Mashat decided to step up their cooperation in the field of tourism, the Cyprus News Agency reports.Perdios met with Mashat on Monday in Cairo. The two officials have laid the groundwork for joint tourist packages which could bring the countries closer through tourism.In statements to the press, Perdios said he discussed with the Egyptian Minister the possibility of holding tourist cruises between the two Read More

Hermes Airports welcomes Ryanair's expansion in Cyprus

Hermes Airports welcomes the ongoing expansion of Ryanair’s flight operation in Cyprus, on the occasion of the recent announcement of the airline regarding the addition of new routes for its winter operation 2019/2020 from Pafos airport where it maintains a base.During the 2019/2020 period, the airline will operate a total of twenty-five routes to and from Cyprus, twenty-four of which will be operated from Pafos Airport and one from Larnaka Airport. It is estimated that during 2019 the airline Read More

Crowne Plaza Limassol Crowned Hotel of the Year!

Crowne Plaza Limassol has received the prestigious IHG Brand Hotel of the Year award for Southern Europe. The award was presented by Karin Sheppard (Managing Director, IHG Europe) and Eric Viale (Managing Director, IHG Southern Europe) at a regional award ceremony held at the Crowne Plaza Barcelona Fira Centre on June 12th 2019. Just one Crowne Plaza® hotel wins this prestigious award each year, which celebrates outstanding performance in serving guests, employees and the community. Continue reading at source:  Cyprus Read More

New Greek PM due in Cyprus on July 29

Greek Prime Minister Kyriakos Mitsotakis will be visiting Cyprus on July 29, as agreed during a telephone conversation on Monday with President Nicos Anastasiades.Anastasiades and Mitsotakis confirmed the complete alignment of the goals of the two countries, government spokesman Prodromos Prodromou said in a post on Twitter. Continue reading at source:  Cyprus Read More

Minthis: the First Golf Club in Cyprus to be Awarded with GEO Certification

Minthis has announced that is the first golf club in Cyprus awarded with the highly acclaimed GEO Certification, a distinction recognising our eco-friendly approach and commitment to sustainability.GEO (Golf Environment Organisation) is an independently assessed international eco-label for golf clubs. It is the most respected mark for golf sustainability and is awarded to golf facilities that have met the voluntary industry standard of good practices for golf course and facility operations, demonstrating a clear commitment to nature, resource conservation and Read More

Ryanair Continues Its Expansion in Cyprus

Hermes Airports welcomes the ongoing expansion of Ryanair’s flight operation in Cyprus, on the occasion of the recent announcement of the airline regarding the addition of new routes for its winter operation 2019/2020 from Pafos airport where it maintains a base.During the 2019/2020 period, the airline will operate a total of twenty-five routes to and from Cyprus, twenty-four of which will be operated from Pafos Airport and one from Larnaka Airport. It is estimated that during 2019 the airline Read More

Panayiotis Hadjipantelis Re-Elected as Chairman of Hermes Airports

Hermes Airports has announced that during the Board of Directors meeting held on July 10, Panayiotis Hadjipantelis was re-elected as the Chairman of the Board of Directors for the period of one year. Hadjipantelis has held the position of the Chairman since 2015. During the same Board meeting, Patrice Cahagne, Investment Director of Egis was elected as the Vice Chairman of the Board. Continue reading at source:  Gold Read More

Finance Minister Notes Importance of Corporate Social Responsibility Policies

The government of Cyprus has prepared a bill which should be adopted by the Parliament by the end of the year in an attempt to enforce the establishment of companies which adopt policies of corporate social responsibility, Finance Minister Harris Georgiades has said, the Cyprus News Agency reports.Addressing on Friday the 12th conference on corporate social responsibility which took place in Nicosia, the Minister said that the society requires all organizations and businesses to undertake their responsibilities and  account Read More

Swiss Launches Flights from Geneva to Cyprus

Hermes Airports is delighted to welcome the launch of SWISS flights from Geneva to Cyprus. Swiss International Air Lines (SWISS), which is part of the Lufthansa Group, will connect Larnaka with Geneva, Switzerland. The route was inaugurated on July 3, 2019 and will be operated on a weekly basis every Wednesday; Additionally, during September and October, the route will operate every Saturday.The launch of SWISS’ flights to Cyprus is expected to contribute to the efforts to strengthen the connectivity Read More

Kadis Presents Climate Change Initiative at International Meeting

Agriculture, Rural Development and Environment Minister Costas Kadis presented Cyprus’ climate change at the UN Abu Dhabi Climate Meeting, which took place between June 30 and July 1, the Cyprus News Agency reports.In his address Kadis outlined Cyprus President Nicos Anastasiades’ initiative to establish a regional action plan to coordinate countries of the Eastern Mediterranean and the Middle East in climate change issues, a Press and Information Office press release says. Continue reading at source:  Gold Read More

Hotel Indigo to Open in Larnaca

IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has announced the signing of Hotel Indigo® Cyprus - Larnaca. Set to open at the end of 2019, the hotel is signed under a franchise agreement with Quality Group and Sunnyseeker Hotels, a rapidly expanding hotel management company which is currently operating a number of hotels across the country, and under the ownership of Quality Group, one of the premier property development companies in Cyprus.The Hotel Indigo® Cyprus Larnaca will Read More

Cyprus Airways and Bulgaria Air Launch Code-Share Partnership

Cyprus Airways and Bulgaria Air have entered into a codeshare partnership. Cyprus Airways’ customers will be able to fly from Larnaca to Sofia through a codeshare agreement with Bulgaria Air. The agreement will allow Cyprus Airways to sell tickets under its own flight code between Larnaca and Sofia. Other routes will be added in future. Similarly, Bulgaria Air will place its flight code on Cyprus Airways flights to Beirut and Tel Aviv. Continue reading at source:  Gold Read More

Hermes Airports commits to achieve net zero emissions by 2050 (Updated)

Hermes Airports said on Wednesday the operator had signed a landmark commitment to become net zero for their carbon emissions by 2050.The commitment concerns airport buildings, infrastructure and vehicles, not aircraft.The resolution was signed in the morning at the 29th ACI Europe Annual Congress in Cyprus – the annual gathering for airport CEOs and senior level airline representatives across Europe.This commitment was undertaken as part of ACI Europe, the trade association for the European airport industry, announcing Read More

President, Political Leaders and Officials Honor Christofias' Contribution to Cyprus

President Nicos Anstasiades said on Monday 24 June that he hoped history would judge former President of Cyprus Demetris Christofias fairly and in a positive light. A book of condolences was opened on Monday in the Presidential Palace for the former President who passed away last Friday at the age of 72. Anastasiades told the press that he and former President recognized the importance of putting compassion and mutual respect above anything else. “We will be all judged by history Read More

UK's most advanced fighter jets complete missions from Akrotiri

The UK’s newest and most advanced generation of fighter jet, the Lightning F-35B, has successfully completed its first operational missions from Akrotiri, the British forces reported on Tuesday.F-35s have flown alongside Typhoon aircraft on operational flights over the skies of Syria and Iraq, as part of the ongoing fight against Daesh (Isis), the Defence Secretary has confirmed.It follows a successful training period in Cyprus, known as Exercise Lightning Dawn, aimed at building capability for the aircraft and supporting Read More

Pafilia's new flagship project, NEO, official launch party

Pafilia Property Developers presented its new flagship project in Limassol, NEO, at a glamorous soiree with distinguished guests on June 3rd. The globally significant and ultra-stylish four-tower resort, situated on the waterfront in the heart of the city, will provide a new anchor and destination for Limassol.The soiree was attended by influential figures from the business world, law firms, auditing and accounting firms, banking institutions and the local government, including the Mayor of Limassol, Nicos Nicolaides. Continue reading at Read More

An acclaimed collaboration announced between Limassol DelMar and Ergo Home Group's ARCLINEA

One more collaboration added to the exclusive list of established brand names that represent elegance, finesse and premium aesthetics has been confirmed between Cypeir Properties Ltd and the Italian brand ARCLINEA. The Italian design house has been assigned to create the kitchen furniture of the luxury apartments at Limassol del Mar, The Signature Collection, one of the most renowned development projects in Cyprus.ARCLINEA is represented in Cyprus by Ergo Home Group Ltd and has contributed on similar high profile collaborations for Read More

Cyprus Banking Delegation Completes Successful United States Visit

A senior delegation from the Association of Cyprus Banks (ACB) has recently completed a successful visit to the United States, during which it met with senior U.S. government officials, important U.S. financial industry regulators, Members of the U.S. Congress and their key staff, global banking institutions, academics, and the financial media. The delegation consisted of senior executives from the two largest ACB member banks: Marios Skandalis - Bank of Cyprus and Matheos Charalambides - Hellenic Bank.Building Read More

Syllouris: House Will Support UNECE's Proposal for Cyprus to Host 2021 Summit

President of the House of Representatives, Demitris Syllouris, said that the House is particularly sensitive to issues regarding sustainable development and the environment in general and would back hosting a UNECE summit.A press release of the House of Representatives said Syllouris met on Thursday with Marco Keiner and Zaal Lomtadze, United Nations Economic Commission for Europe (UNECE) officials, in the presence of Dr. Adamos Adamou, Chairman of the House Standing Committee on the Environment.The two officials are in Read More

Future of the EU on MED7 agenda

President Nicos Anastasiades is in Malta on Friday to participate in the sixth Mediterranean EU member states summit (MED7), along with participants from six other countries, France, Spain, Portugal, Malta, Italy and Greece.The consultations on the appointments for the next EU institutional leadership will be the focus of the summit, government spokesman Prodromos Prodromou said.Anastasiades will also have the opportunity to brief his counterparts over Turkey’s illegal actions in Cyprus’ Exclusive Economic Zone, he added. Continue reading at Read More

Cyprus Airways' inaugural flight from Larnaca to Bratislava

Warm Welcome at Bratislava AirportLarnaca, Cyprus – Cyprus Airways’ inaugural flight from Larnaca to Bratislava took place on Saturday 8th of June 2019.  The flight departed from Larnaca at 06:00 in the morning and landed in Bratislava at 08:00. Bratislava Airport welcomed Cyprus Airways aircraft with the ceremonial water cannon salute and traditional ribbon cutting.  Passengers were welcomed at the gate with gifts and cake. Continue reading at source:  Cyprus Read More

Land lease agreement paves way for EuroAsia Interconnector

A contract paving the way for the construction works for the EuroAsia Interconnector, which will connect the electricity networks of Cyprus, Israel, Crete and Attica in Greece has been signed at the Energy ministry, it was announced on Thursday.The land concession agreement for the construction of the High Voltage Direct Current (HVDC) converter station in Kofinou with a transfer capacity of 2000MW was signed.The cost of construction of the first phase of the project (Cyprus-Crete-Attica) with a capacity Read More

RCB Bank Together with Mastercard Enables Card Payments at the Limassol Marina Parking

RCB Bank’s self-service card acceptance terminals, powered by Mastercard, have been successfully installed at the Limassol Marina multistory car park, elevating the visitors’ payment experience.For the first time in Cyprus self-service terminals for unattended outdoor locations, enable contactless card acceptance, boosting the overall digital payment transformation of the island. Continue reading at source:  Gold News Read More

Construction of Metropolis Mall in Larnaca About to Begin

Larnaca’s Metropolis Mall has secured all the necessary licences and its construction is about to begin.South African development company Acsion Ltd is behind the 40,000 square metre shopping centre while ‘Iacovou Brothers’ is responsible for the project’s construction.Both the local authorities as well as Acsion Ltd have confirmed the latest developments.Continue reading at source : Gold Read More

Symbol Residence: Foundation Stone Laying Ceremony Attended by Billionairess Elena Baturina

The foundation stone laying ceremony was for the high-end residential development ‘Symbol’ was held on May 27 in Agios Tychonas, Limassol. The project involves investment by the Investment Group of Elena Baturina, the richest woman of Russia, international entrepreneur and philanthropist. As was previously announced, the overall investment into the development will exceed €40 million.The ceremony celebrated the start of the active stage of construction, and was attended by the Mayor of Agios Tychonas, Charalambos Ioannou and Elena Baturina, as well as the Read More

Agreement Signed for Egypt-Europe Electricity Interconnector via Cyprus

An historic framework agreement was signed in Cairo on Wednesday for the construction and commissioning of the EuroAfrica Interconnector which will interconnect the electricity networks of Egypt and Cyprus by the project promoter, EuroAfrica Interconnector Limited, the Cyprus News Agency reports.The signed agreement follows the conclusion of viability studies conducted by the EuroAfrica Interconnector which showed the benefits of the project, as well as its maturity, allowing it to enter the implementation stage.According to a press release, the Read More

Cyprus Airways Announces Additional Flights to Athens

Cyprus Airways has announced additional flights from Larnaca to Athens every Monday, Thursday and Saturday. The renewed flight schedule, will begin on 27 June 2019, and will increase the total weekly number of flights to Eleftherios Venizelos Airport in Athens from 7 to 10 flights."As Larnaca-Athens is one of the most popular routes we decided to increase our flights from seven to ten per week, giving our passengers more choices and more flexibility in organizing their trip" said Natalia Read More

Jet2 'Commits Year-Round' to Cyprus

The airline and operator says it has put nearly 550,000 seats on sale for summer 2019, its largest ever, up 16% year-on-year.Winter capacity, meanwhile, is up 45%, with around 200,000 seats on sale, TTG Media reports.Jet2.com and Jet2holidays chief executive Steve Heapy this week hailed positive meetings with Cypriot hoteliers and representatives from the Cypriot tourism industry as Jet2 seeks to capitalise on a significant upturn in demand for the eastern Mediterranean.“Jet2holidays has continued to show Read More

Demetra Investments becomes largest shareholder of Hellenic Bank

Demetra Investments Ltd increased its stake in Hellenic Bank from 18.42 per cent to 21.01 per cent on Tuesday, according to a CySEC announcement.Bank sources indicate that Demetra Investments bought off the European Bank of Reconstruction and Development stake for an estimated €10 million.This makes Demetra the largest Hellenic shareholder, dethroning Wargaming Group’s 20.6 per cent. Continue reading at source:  Cyprus Read More

Limassol Marina Receives the Highest Industry Award for Excellence

Limassol Marina, the first full-service superyacht marina in Cyprus, has received the prestigious “5 Gold Anchor Platinum Award”, the highest distinction for exceptional marinas across the world, providing outstanding customer services and facilities. The official announcement was made at the opening ceremony of Limassol Boat Show 2019 in the presence of government officials, selected guests, yachting entrepreneurs and media representatives. The award was presented to Tom Lord, Marina Manager of Limassol Marina, by Tony Dye from The Yacht Harbour Association. Read More

'Bright future' for Cyprus-UK educational relations

The Association of Commonwealth Universities (ACU), the oldest university network in the world, will soon open an office in Cyprus, the first office outside the UK, House President Demetris Syllouris said on Thursday.The association has 530 members in 50 countries, he added.Working with the ACU is one of the opportunities to strengthen post-Brexit UK-Cyprus collaboration in higher education, a report on the subject launched at Thursday’s press conference said.The report is a result of the first Higher Read More

PIO and Ministry of Foreign Affairs Launch Brexit Website

The Press and Information Office, in cooperation with the Ministry of Foreign Affairs, has launched a website with information on Brexit at the URL: https://brexit.com.cy/The website, which is bilingual (Greek and English), contains information about the possibility of the United Kingdom leaving the European Union with or without a ratification of the Withdrawal Agreement and how these two scenarios will affect Cypriot businesses and citizens (Cypriots who reside in the UK and British citizens who reside in Cyprus).The Read More

Travel Exhibition Taxidi 2019 Opens on 3rd of May

Travel exhibition "Taxidi 2019" opens its gates on 3-5 May to offer travelers comprehensive information on tourist destinations abroad as well as on Cyprus tourist product, amidst increased outbound trips and projections from tour operators that tourist arrivals would reach last year’s numbers.The exhibition is organized for the 22nd consecutive year by the Association of Cyprus Travel Agents (ACTA), at Cyprus State Fair Grounds in Nicosia. Outbound trips presented an increase of 10% so far in 2019, ACTA chairman Read More

HB Records Profit After Tax of €320M

Hellenic Bank has released its financial results for the year 2018 which record profit after tax of €320.0 million and a successful share capital raise of €150 million.According to Yannis Matsis, CEO of Hellenic Bank, “The acquisition of CCB business established Hellenic Bank as the leading retail and SME bank in Cyprus whilst simultaneously de-risking our balance sheet and business model. The profitability and resulting capital position safeguards our depositors and creates shareholder value. The significantly improved capital Read More

Talks under way for flights between Alexandria and Cyprus for €60

Egypt’s Alexandria Governor Abdel Aziz Konsowa has told House of Representatives President Demetris Syllouris that the city is in talks with low cost airlines aiming to connect Cyprus with Alexandria with a flight that would cost €60.Konsowa, who was speaking during a meeting with Syllouris and a parliamentary delegation from Cyprus, also expressed his will for more business to business cooperation between Cyprus and Alexandria.“We are looking forward to enhancing our cooperation in three areas, tourism, education and Read More

Parliament Speakers from Cyprus, Greece, Jordan, Egypt and Iraq to meet in Nicosia

House of Representatives President Demetris Syllouris, who is on an official visit to Egypt, has announced that the Speakers of Parliament from Cyprus, Greece, Jordan, Egypt and Iraq will have a meeting in Nicosia in the next couple of months.In the context of his official visit, following an invitation by President of the Egyptian Parliament, Ali Abdel-Aal, Syllouris had a meeting with his counterpart and a large parliamentary delegation at the Egyptian parliament, followed by a tour of the Read More

Invest Cyprus Participates in the 9th Annual Investment Meeting in Dubai

The Cyprus Investment Promotion Agency (Invest Cyprus) took part in the Annual Investment Meeting (AIM), the leading gathering of the international investment community, held in Dubai between 8-10 April 2019, as part of its mission to promote Cyprus as an attractive investment destination and business hub.The Annual Investment Meeting is considered to be the world’s leading investment promotion conference, showcasing the latest developments, information and strategies to attract Foreign Direct Investment. Overall, the conference attracted 20.000 participants from Read More

Cyprus Among the Founding Members of an International Sports and Tourism Organisation

Cyprus along with Greece, Lebanon, Egypt, Bulgaria and Portugal have founded an International Sports and Tourism Organisation, a press release of the Deputy Ministry of Tourism has said.The decision to establish the International Sports & Tourism Organization for Peace & Prosperity (ISTO for P&P), was announced in the framework of a trilateral meeting among Cyprus’ Deputy Minister Savvas Perdios, Greek Minister of Tourism Elena Kountoura and Lebanon’s Minister of Tourism Avedis Guidanian, in Beirut, on 10 April. Continue reading Read More

Hotels catering to animal-loving tourists

Working with animal welfare groups to help improve lives of stray cats and dogsBy Bejay BrowneHotels are catering to animal-loving tourists by teaming up with animal welfare charities and launching programmes to improve the lives of stray dogs and cats.With Cyprus’ stray cat and dog population estimated at around 200,000 to 250,000, initiatives to keep those numbers down are clearly welcomed by animal welfare groups.Just last week, a couple of these more recent cat initiatives at Aphrodite Hills Read More

Telecoms companies given licence to run pilot 5G programs

TELECOM companies Cyta, MTN, and Primetel have been given licensing to run pilot 5G programs, the minister of transport, communications and works, Vasiliki Anastasiadou announced.She said: “The main objective of the Broadband Subsidy Grant Scheme is to increase the demand for ultra-high-speed connections while encouraging the market for investment in high-speed networks.”The plan, she added, is in line with the Digital Agenda 2020 of the EU and with the island’s National Broadband plan. Continue reading at source:  Cyprus Read More

Melco announces location of Napa and Paphos casinos

CASINO operator Melco announced on Thursday the location of its two new satellite establishments in Ayia Napa and Paphos, which will be up and running by the end of the year.The Ayia Napa casino will be located on Archbishop Makarios Avenue, next to Faros Hotel, in the heart of the popular holiday resort, and is expected to open its doors this summer.The Paphos venue will be located in Yeroskipou, on the main coastal road, and will be ready Read More

First Cyprus, Greece and Lebanon summit planned

Foreign Minister Nicos Christodoulides announced on Wednesday that Cyprus would host the first trilateral summit between the leaders of Cyprus, Greece and Lebanon later this year.In his statements in Beirut, where he participated in the work of the first official tripartite ministerial meeting between the three countries, together with his counterparts from Lebanon, Gebran Bassil, and Greece, Georgios Katrougalos, Christodoulides said that it was the official start of the “trilateral journey”.The cooperation of the three countries, he said, Read More

JYSK Opens Its First Store in Cyprus

The first store of JYSK, the global retail chain from Denmark that sells everything for the home, officially opened its doors to the public today (Saturday April 6) at the Nicosia Mall.Its grand opening yesterday was a resounding success. Media people caught the first glimpse of the store in the morning, and experts in home decoration, and other officials enjoyed a cocktail and live music in the evening.The lucky first 100 customers who shopped at JYSK on Saturday Read More

Pafos Zoo shows off its new baby lion Simba

The Pafos Zoo on Friday announced the birth of a male white lion, which is the first of its kind born in Cyprus. The cub, born some three weeks ago, was named Simba.The owner of the Pafos Zoo, Ioulios Christoforou, said that Simba’s parents, a pair of white lions, Zeus and Hera, have been with them for the past eight years.Simba is being fed eight times per day with special milk brought from abroad.Christoforou said Simba was Read More

Paphos to get new municipal multi-purpose centre

A contract to build a new municipal multi-purpose centre in Paphos will be signed at the town hall on Thursday.The new centre comes with a price tag of €3,665,200 and will offer social and cultural activities, as well as care for infants and young children, a spokesperson for Paphos municipal social welfare said.“This is a great development for Paphos and much needed. Other municipalities have similar centres and this will be good for the people here. The municipality Read More

Hermes Airports Makes Flying Easier for Individuals with Autism

Ahead of World Autism Awareness Day, Hermes Airports is organising a series of actions with a view to make individuals with autism more familiar with air travel procedures and at the same time, raise public awareness for autism.From 29 March – 5 April the main round-about of Larnaka Airport and the entrances of Larnaka and Pafos airports will be illuminated with blue light, which is the colour of autism, in the framework of the global campaign “Light it up Read More

Amavi: Cyprus' First Couples-Only Hotel Opens its Doors

Kanika Hotels & Resorts, one of Cyprus’ leading hotel groups, now celebrates the addition of the highly-anticipated luxurious 5-star Amavi hotel. Carving out novel territory as the first custom designed couples-only hotel on the sun-kissed island, the idyllic Amavi stands proud as the flagship of Kanika’s Made for TwoTM brand. As such, it heralds a brand-new era for holidaymakers seeking intimate moments of togetherness and a tranquil escape from the outside world in the paradisiacal Mediterranean.The Amavi welcomed its Read More

Stelios Foundation and UKCEC celebrate bi-communal collaboration

An event co-organised in London on Monday evening by the Foundation of Sir Stelios Haji-Ioannou and the UK-Cyprus Enterprise Council (UKCEC) highlighted the significance of bi-communal collaboration in the reunification of Cyprus.The event was held at the Stelios Philanthropic Foundation’s new headquarters in the British capital, to celebrate 11 years of the Stelios Cyprus Bi-Communal Awards given to selected projects carried out by teams of Greek and Turkish Cypriots working together.Around 70 members of the Cypriot community in Read More

Global Blue and RCB Bank Join Forces on Merchant Solutions in Cyprus

RCB Bank and Global Blue have entered into a strategic partnership offering Dynamic Currency Choice (DCC) and Tax Free Shopping services to their merchant partners in Cyprus for servicing their international shoppers.This collaboration is the latest in a wide range of innovations being delivered by RCB Bank to better service the local Cyprus market, offering DCC in 20 key currencies that are most widely used in the market today, with the capability to reach up to 150. Commenting on Read More

Neo Plaza Outlet Village to Open in Cyprus in 2020

An open-air outlet named “Neo Plaza” is expected to open its doors in Spring 2020 just a few short miles west of Nicosia. The works on the 10,000m² scheme, that will be constructed on 35,000m² site, were announced to begin by June this year.Inspired by Cypriot architectural traditions, the new outlet will host around 50 retail shops, a recreational park for events, a playground, an arts and crafts section, and a food court. Big names from retailers and chain Read More

More time for expats to sort out post-Brexit residency status

By Bejay BrowneCyprus is preparing legislation to allow Britons already living in Cyprus a grace period of one year to get their residency status sorted out after the official ‘Brexit Day’ on March 29, according to the British High Commission in Nicosia.”We welcome the news that in case of a ‘no deal Brexit’ there will be a grace period of a year and we thank the Cypriot authorities for continuing to safeguard the rights of British citizens on the island,” they announced Read More

CNP ASFALISTIKI insures 2019 Limassol Marathon

One of the greatest sporting events in Cyprus will take place on the 23-24 March at the coastal front of Limassol.For the fourth consecutive year, CNP ASFALISTIKI, a member of the French colossus CNP ASSURANCES S.A., is going to insure the event as the Health and Safety sponsor for the OPAP Marathon of Limassol.CNP ASFALISTIKI’s General Manager Andreas C. Stylianou stated the following in this respect: “It is an obvious principle for CNP ASFALISTIKI to adopt Read More

Cyprus and Bahrain set to sign cooperation agreements in FM visit

Cyprus and Bahrain are set to sign a number of agreements, including a Memorandum of Understanding on the field of energy during an official visit in Manama by Foreign Minister Nikos Christodoulides, on Wednesday.Christodoulides is paying Bahrain an official visit following an invitation by his counterpart Sheikh Khalid bin Ahmed bin Mohammed Al Khalifa, a Foreign Ministry press release issued here today says.The Cypriot Foreign Minister will have extended talks with Al Khalifa during which they will review Read More

Sharp rise in property sales in February

DURING February 2019, the number of property sales contracts deposited at Land Registry office across the Republic of Cyprus rose 25% compared to February 2018 according to official figures published by the Department of Lands and Surveys.Apart from a 48% fall in sales in December 2018 due to the rush to buy land in December 2017 before the government introduced VAT on land sales, the number of property sales has increased for the past 22 months.February 2019 saw Read More

Parliament leaders of Cyprus, Jordan and Greece to meet

House President Demetris Syllouris said on Tuesday he and his Jordanian counterpart agreed on a Trilateral meeting between themselves and their counterpart from Greece.Syllouris and Taref al Tarawneh, who holds the chair of the Arab Parliamentary Union discussed the matter in a meeting in Nicosia.“We have agreed on a trilateral meeting between Cyprus, Greece and Jordan and I undertook to notify the Hellenic Parliament President within the day,” Syllouris said.He added that he and Tarawneh discussed “issues Read More

Cyprus Airways and Blue Air to Extend Codeshare Agreement

Blue Air and Cyprus Airways have agreed to continue the codeshare partnership initially launched in December 2018. The collaboration between the two airlines will be extended over the summer schedule, starting March 31st to October 26th, 2019. Under this codeshare partnership, the two airlines’ customers will have an enhanced connectivity from Larnaca to Athens, Thessaloniki and Heraklion.“Our cooperation with Blue Air proved to satisfy our travellers' needs, therefore we have decided to extend this collaboration. The codeshare agreement with Read More

Germany and Cyprus to step up defence co-operation

Cyprus aspires to see the Eastern Mediterranean transformed from an area of instability and geopolitical uncertainty into a region of stability and prosperity, Defence Minister Savvas Angelides said on Tuesday.Speaking after talks with Germany’s Federal Minister of Defence, Ursula von der Leyen, in Nicosia on an official visit, Angelides said the latest international developments and geopolitical changes in the wider region have created a political situation that is particularly unpredictable and fluid, making the security environment more complex.The Read More

City of Dreams Mediterranean Puts Cyprus on the European Casino Map

City of Dreams Mediterranean Integrated Casino Resort, has been officially announced as the European Casino Association’s (ECA) 29th member. At the General Assembly of ECA, the Association’s board accepted City of Dreams Mediterranean's membership application, after the company subscribed to ECA’s code of conduct and it was decided that it meets the association’s strict membership criteria.The Integrated Casino Resort, which is owned by Melco Resorts & Entertainment Limited and Cyprus Phassouri (Zakaki) Limited, is scheduled to open its doors Read More

Limassol Aura high rise development

PLANS to redevelop the site of Debenhams Olympia shopping centre on the Limassol coastal road are moving forward and the construction of the high rise Aura development of luxury apartments should be completed by the end of 2022.Designed by the award-winning British architectural design and engineering firm of Foster + Partners, the cost of building Aura are estimated at €108 million, while the demolition of the current building will cost around €500,000. Continue reading at source:  Cyprus Property Read More

ExxonMobil announces 5-8t cubic feet of gas off Cyprus (Update2)

Cyprus and ExxonMobil on Thursday announced a gas find estimated between 5-8 trillion cubic feet (tcf) in an offshore field inside the island’s exclusive economic zone.The discovery was made in the Glafcos (Glaucus) 1 well in Block 10 of the EEZ.“Based on preliminary interpretation of the well data, the discovery could represent an in-place natural gas resource of approximately 5 trillion to 8 trillion cubic feet (142 billion to 227 billion cubic metres). Further analysis in the coming Read More

MTN and Huawei Cooperate for 5G Development in Cyprus

MTN Cyprus and Huawei have announced the agreement for a strategic cooperation regarding the development of a 5G network in Cyprus, initially through a joint research program and then through a commercial set of services.According to the Memorandum of Cooperation (MoC), signed during the Mobile World Congress 2019 in Barcelona, a task force is about to be created in order to share its know-how, the well-known 5G global ecosystem. Furthermore, this executive team will shape the preconditions required for Read More

UK "Ready to Work" with Cyprus on Bases in Event of 'No Deal' Brexit

In the event of a ‘no deal’ Brexit, the UK Government aims to reach an agreement with the Republic of Cyprus and the EU which will secure the operation of the British bases in Akrotiri and Dhekelia and will allow Cypriot citizens who live and work there to carry on doing so it without any problems, a 10 Downing Street spokesperson has said.The smooth continuation of the bases’ operation and of the daily lives of people living and working Read More

Celestyal Cruises: New Goals and New Itineraries for the Year Ahead

Enjoying a dynamic presence in Greece and Cyprus, Celestyal Cruises, a member of the Louis Group, recently published official results for 2018, highlighting the company’s success over the past year, while also presenting new cruise itineraries scheduled for 2019 and 2020.During a media lunch on February 19th at ‘Elliniko’ tavern, the new CEO of Celestyal Cruises, Chris Theophilides, presented the official statistics that highlight the company’s growth. Statistics indicate that there was a significant increase in passenger traffic of up to 8% in 2018 Read More

More money to encourage homes to use renewables

Legislators on Tuesday got a first glimpse of the 2019 draft budget for the Renewable Energy Sources (RES) Fund, discussing ways of further increasing the penetration of renewables into the energy mix.The budget provides for €49.28m in projected revenues, while expenditures are at €64.96m.On the expenditures side, €58.61m are earmarked for commitments to subsidies, of which €29.81m relate to generating electrical power from renewables.The €29.81m figure includes €25m for a new subsidies Read More

RCB Bank Expands Domestically through Premium Acquiring Services

RCB Bank has strengthened its portfolio of digital products through premium card acquiring services and expanded its servicing dynamic to some of the biggest merchant clients in Cyprus, including IKEA.In 2018 the card acquiring business of the Bank has shown strong development with monthly growth rates exceeding 20%. Continue reading at source:  Gold News Read More

New programme will see stray cats neutered

The veterinary services announced on Tuesday the third phase of an island-wide stray cat neutering programme will be launched this year.The programme, with a budget of €75,000, is the third phase of actions taken to implement a cabinet decision of August 2017 which called for measures to decrease stray populations of both cats and dogs, though so far allocated budgets have only targeted the stray cat population.The Animal Party on Tuesday applauded the new government programme but called Read More

Changes to Citizenship scheme approved

Changes to Cyprus’ controversial citizenship-by-investment scheme, which has granted 1,864 citizenships and generated €6.6 billion of foreign investment, have been approved by the Cabinet.CYPRUS on Wednesday approved a series of changes to its much-criticised Citizenship-by-Investment scheme, so it becomes “more targeted and trustworthy”, said Finance Minister Harris Georgiades.The Cabinet approved new criteria which will see a Cyprus passport being granted in exchange for an investment of €2.5 million, raising it from €2 million, including the purchase Read More

Rights of UK expats in Cyprus assured in case of no-deal Brexit

In the case of a no-deal Brexit, British citizens currently residing in Cyprus will be able to continue residing and enjoying the same rights as provided for in Britain’s withdrawal agreement with the EU, the government said on Wednesday.The government informed the UK government of its decision on British citizens’ rights after the UK withdraws from the EU in a letter sent by Foreign Minister Nikos Christodoulides to Britain’s Foreign Secretary Jeremy Hunt.The withdrawal agreement negotiated between British Prime Minister Read More

Radisson Hotel Group and Sunnyseeker Hotels Sign Strategic Development Deal for Cyprus

Radisson Hotel Group, one of the largest and most dynamic hotel groups in the world, is delighted to announce the signing of a Master Development Agreement with Sunnyseeker Hotels in the Republic of Cyprus. Building on an already-successful partnership, the new deal will see the group grow its existing portfolio in the country to six hotels and almost 1,000 rooms by 2025.Sunnyseeker Hotels has been a partner for Radisson Hotel Group in Cyprus since 2015. This new agreement is Read More

EastMed could be 'one of the greatest underwater projects' in the world

The EastMed pipeline could be “one of the greatest underwater projects in the world”, Israel’s President Reuven Rivlin said on Tuesday.Rivlin, who was speaking at the presidential palace after having held consultations with President Nicos Anastasiades, also spoke of the possibility of extending the trilateral cooperation mechanism Cyprus, Israel and Greece have formed.“Our prime purpose right now is on developing the Eastern Mediterranean pipeline,” Rivlin said. “This could be one of the greatest underwater projects in the world. Read More

Cypriot Companies VTS/VSS EPE Chosen to Provide Services to Israel's Natural Gas Fields

The fleet and the modern means of preventing and dealing with marine pollution incidents, owned by the Cypriot VTS / VSS EPE companies of the Vasiliko Terminal Services Ltd group, are now undertaking the provision of specialized services for the work carried out in Israel's natural gas fields. The consultations that have taken place lately have been successful, while paving the way for an extremely important cooperation.According to Group Chief Executive Officer Yiannos Lakkotrypis, this collaboration highlights the multifaceted Read More

Parliaments of Cyprus, Greece and Egypt meet in Nicosia

Nicosia on Monday hosts the first trilateral meeting of House of Representatives Presidents from Greece, Egypt and Cyprus.House President Demetris Syllouris is set to welcome his counterparts from Greece Nicolaos Voutsis and Egypt Ali Abdel Aal in a meeting which will focus on regional cooperation as well as energy, tourism and education and culture.The meeting will start in the morning will conclude its work with the adoption of a Joint Statement of the three Speakers at 12.15, Read More

Leaders to meet later in the month (Updated)

President Nicos Anastasiades has spoken with Turkish Cypriot leader Mustafa Akinci by phone and they have agreed to meet on the second half of February, the government announced on Wednesday in a brief statement.No further details were given as to the date, location and time of the meeting.“The goal of course is to establish a meeting with each other,” the government spokesman Prodromos Prodromou told CNA later in the day. “We do not have anything at the moment Read More

Facelift for Paralimni to include golf course and marina

Development projects of over €45 million set to begin in 2019 in Paralimni municipality were announced by President Nicos Anastasiades on Monday, while many more, including a largescale golf course development, are also lined up.Projects that are expected to begin in 2019 include improvement works to the Kappari road network, the upgrade of the Paralimni middle school, the construction of part of the April 1st Avenue in Paralimni, and the improvement of the fishing shelters of Ayia Triada and Read More

Property sales continue to rise

The number of property sales in Cyprus continued to rise in January 2019 compared to the numbers sold in January 2018 according to official figures published today by the Department of Lands and Surveys.CYPRUS property sales continued to rise in January, with the number of sales contracts deposited at Land Registry offices in the Republic rising by 10 per cent compared to the same month last year.With the exception of December 2018, when sales fell by 48 per Read More

Football charity helps fund new wing at Makarios hospital

By Evie AndreouThe health ministry on Thursday announced that it would construct a new wing at the Makarios children’s hospital to house the accident and emergency (A&E) department.The new, 1,000-square-metre wing will be named ‘Goal in Life’, in honour of the charity foundation bearing the same name that will co-fund the around €2.7m project, along with the health ministry. Continue reading at source:  Cyprus Read More

Cyprus and Spain committed to upgrading bilateral relations

Spain and Cyprus are committed to upgrading bilateral relations, the foreign ministers of both countries pledged after talks on Wednesday in Nicosia.In his remarks, Spain’s Foreign Minister Josep Borell thanked Cyprus for defending the integrity of the Spanish state in the Catalan issue and said that Cyprus could count on Spain’s support on the Cyprus issue.Borell’s meeting with Foreign Minister Nikos Christodoulides took place the day after the fifth Southern EU Countries Summit that was held in Nicosia Read More

Air France-KLM Appoints Yiannis Pantazopoulos as New Sales Manager for Greece, Cyprus and Turkey

Air France – KLM has appointed Yiannis Pantazopoulos as the airline group’s new sales manager for Greece, Cyprus and Turkey, effective February 1. He will be based in Athens.Pantazopoulos will replace Yiorgos Zermas, who is retiring after working for the group for nine years, gtp headlines reports.The announcement was made by Jerome Salemi, General Manager Air France-KLM East Mediterranean Establishment, during a recent event held in Athens.“I’m really glad and honored for being a part of a very successful group such as Air Read More

Portuguese prime minister in 'historic' visit

President Nicos Anastasiades on Tuesday called the arrival of Portuguese Prime Minister Antonio Costa a historic moment for the relations of the two countries since it is the first ever visit of a Portuguese leader to Cyprus.Cyprus and Portugal have agreed to strengthen ties, announcing their intention to organise a business forum to further cooperation on maritime science and to share best practices in tourism.Costa is on the island on an official visit and to also participate in Read More

Cheaper electricity bills from February

Electricity bills will decrease by at least 3.6 per cent in February compared to December, the electricity authority (EAC) announced on Monday.According to the EAC spokeswoman, Christina Papadopoulou, the price change is due to the Cyprus Electricity Regulatory Authority’s (Cera) fuel adjustment which is done every six months, meaning the decrease is valid until June.The adjustment is related to the cost of the fuel mix of heavy fuel oil, diesel and renewable energy sources. Continue reading at Read More

Cyprus reaffirms commitment to European defence

European Commission Vice President Jyrki Katainen, on a two-day visit to Cyprus, met on Monday with defence minister Savvas Angelides to discuss EU defence and security issues.According to an official statement from the ministry, the two discussed the European Defence Fund, Military Mobility and the Permanent Structured Cooperation (Pesco) programme.Angelides reiterated to the EU official that Cyprus is committed to European integration, noting that the island would participate according to its capabilities. Continue reading at source:  Cyprus Read More

CoE Development Bank Approves 40mln Euro Loan for Cyprus Water Projects

The Council of Europe Development Bank approved on Friday a loan of 40 million euro to the Republic of Cyprus. The loan aims to finance two water supply projects in Cyprus to meet the needs of Nicosia and the government controlled areas of Famagusta. It concerns infrastructure projects at the Vasiliko area and the Kokkinokremmos area, respectively. Continue reading at source:  Gold News Read More

Moody's Upgrades Bank of Cyprus and Hellenic Bank

Moody`s Investors Service upgraded Thursday Bank of Cyprus Public Company Limited`s and Hellenic Bank Public Company Ltd long-term deposit ratings to B3 from Caa1, and their long-term Counterparty Risk Ratings (CRRs) to B1 from B2. At the same time, Hellenic Bank`s baseline credit assessment (BCA) and adjusted BCA were upgraded to caa1 from caa2, and its long-term Counterparty Risk Assessment (CRA) to B1(cr) from B2(cr). The outlook on both banks` long-term deposit ratings is positive.According to Moody’s, the upgrade Read More

First private power station in the works

Construction on the main part of the first private power station in Cyprus will start soon, philenews reported.The station will be located near the existing state-owned Vasilikos power plant in Mari, Limassol.According to philenews, the earthworks, some basic infrastructure and the road network of the plant have already been completed and construction for the main infrastructure is expected to start soon. Continue reading at source:  in-cyprus. Read More

SWISS to fly to Larnaca from Geneva

SWISS is expanding its route network from Geneva by offering a new connection to Larnaca (Cyprus) from 3 July. This coastal resort joins the list of new summer destinations announced by SWISS in December. Continue reading at source:  Cyprus Tourism Read More

Phase two of Nicosia 'commercial triangle' revamp starts Friday, traffic flow changing

Work is due to begin in on January 25, on phase two of Nicosia’s ‘commercial triangle’, the conjunction of Makarios Avenue, Evagoras and Stasikratous, which also encompasses several sidestreets, the municipality announced on Monday.From January 25 vehicles will not be allowed on the following streets: Mnasiadou from its intersection with Makarios Avenue as far as the junction with Stasikratous, Princess de Tyras, Theofanous Theodotos, and Stasikratous from its junction with Themistocles Dervis until the junction with Mnasiadou Street.Drivers, Read More

Greek trailblazer Tsitsipas storms into Melbourne semi-final

By Ian RansomMELBOURNE, Jan 22 (Reuters) – Greek sensation Stefanos Tsitsipas added another thrilling chapter to his Australian Open odyssey on Tuesday, the 20-year-old felling Roberto Bautista Agut 7-5 4-6 6-4 7-6(2) to claim a maiden Grand Slam semi-final for the Mediterranean nation.Having already floored Roger Federer to send shockwaves through the tournament, the 14th seed can create further tennis history for his country when he plays for a spot in the final against Rafa Nadal or Frances Tiafoe. Read More

Paralimni Marina - Final design revealed

The final design of the Paralimni Marina was revealed at an event held at the Hilton Hotel in Nicosia on Tuesday evening.In the presence of the President of the Republic and other officials the event, hosted by PMV Maritime Holdings Limited, was the first official opportunity to see a model of this ambitious project.In his address the President of the Republic said, “This project is more tangible proof of the significant developments in the tourism sector that have been Read More

Annual survey puts Paphos in ten cheapest destinations for Brits

Paphos has been named the ninth best value for money destination for UK holidaymakers by the Post Office Travel Money’s yearly Worldwide Holiday Costs Barometer.The Bulgarian resort of Sunny Beach was named as the resort offering the best value for money break for UK tourists for a second year running.It was found to be the place where Brits will see their pounds stretch furthest in research which saw the Turkish resort of Marmaris in second place while the Read More

Exxon's drilling: all outcomes are possible

THE GOOD news early in 2019 is that drilling of Delphine in block 10 has been completed, as planned, despite the problems encountered towards the end of December. And as expected, and despite the continuous aggressive rhetoric, Turkey did not intervene.The drilling rig, Stena IceMax, has now moved to the also-promising target Glafcos in block 10, with results expected towards the end of next month. In Greek mythology Glafcos was a half man-half fish sea-god with prophetic powers.With Read More

Exxon completes drilling at 'Delphine', moving on to 'Glafcos'

Drilling activities on behalf of ExxonMobil and Qatar Petroleum in the Delphine target in Cyprus’ offshore block 10 have been completed but there will be no announcements until after the end of drilling in the second location the energy consortium has chosen to explore, Energy Minister, George Lakkotrypis, said on Wednesday.The ministry announced that drilling in the Delphine-1 target has been completed and the Stena Icemax drillship has already started operating in Glafcos-1, the second location in block 10 Read More

PwC Cyprus: New edition of tax guide for 2019

PwC Cyprus announces the new edition of its practical tax guide for 2019. The practical guide provides general information about Cyprus’ tax system as it is based on current Cyprus legislation and practice and includes the most recent changes in our direct and indirect tax laws.It constitutes a rich source of information for timely and effective tax compliance and planning by legal entities and individuals without, however, substituting specialised professional advice. This is the 27th edition of the tax guide Read More

International recognition for Hermes' efforts to reduce CO2 emissions

Hermes Airports has acquired Level 3 of the ACA Certification for the reduction of its carbon dioxide emissions, just one year after the acquisition of the ACI Airport Carbon Accreditation Level 2.According to an announcement, ACA (Airport Carbon Accreditation) is issued by the ACI (Airports Council International) and focuses on efforts to map, calculate, reduce, optimise and offset carbon dioxide emissions across the globe.There are four levels to the ACA certification, which have so far been acquired by 251 Read More

Cyprus property price index Q2 2018

The RICS Cyprus Property Price Index for the second quarter of 2018 reports that residential prices for houses and apartments increased by 1.3% and 2.1% respectively on a quarterly basis.THE THIRTY-FIFTH publication of the RICS Cyprus Property Price Index reports that the average price of residential apartments and houses across the island rose over the first quarter of 2018. Property price increases have been assisted by further signs of recovery in the Cyprus economy, with a seasonally Read More

Property Gallery and HKCY Hotels Announce PreSales Commencement for Dream Tower

As the preparations for the construction works of the newly announced project in Limassol, Dream Towerare already in progress, Property Gallery Holdings Ltd and HKCY Hotels LTD officially announced the commencement of the project’s pre-sales.Dream Tower is the sophisticated architectural project of the developmental consortium between Property Gallery Holdings Ltd and HKCY Hotels Ltd, which has already obtained its planning permit. Continue reading at source:  Gold News Read More

Anastasiades meets May, discusses British bases

President Nicos Anastasiades and British Prime Minister Teresa May met briefly on Thursday where they discussed the protocol concerning the sovereign British Bases on the island once – or if – the UK leaves the European Union.According to a statement by government spokesman Prodromos Prodromou, the two leaders conversed briefly in Brussels on the sidelines of the European Council summit.The statement added that May was present at the summit, “having passed the test in the last few days Read More

Six cents per litre shaved off car and heating fuel tax Updated

The parliament plenum on Wednesday unanimously approved a bill to reduce the tax on motor and heating fuel by almost six cents per litreThe reduction will come into effect on December 18.In an extraordinary session, the House plenum voted in favour of the 5.95 cent per litre reduction in consumption tax on petrol, diesel and heating fuel. The tax reduction concerns five cents, but adding the reduction in VAT the total amount comes to 5.95 cents per Read More

Over 1,400 students attend University of Cyprus' open day

For the fourth consecutive year a three-day open day was organised for prospective students at the University of Cyprus at the end of November.During the three days, 1441 students from 22 schools, 16 lyceums, two private schools and four Gymnasiums, visited from all districts in Cyprus.The students had the opportunity to attend targeted presentations by academic staff from 20 departments and to tour the campus. Continue reading at source:  Cyprus Read More

Cupcakes and Christmas gifts as British royal couple visit bases

The Duke and Duchess of Cambridge arrived in RAF Akrotiri on Wednesday for a brief visit to show support for overseas British troops at Christmas.Prince William and Kate Middleton visited soldiers and their families living on the base, and other personnel and members of the local community.The Royal Airforce aircraft that flew the royal couple to Cyprus landed at around 2.30pm. The Duke and Duchess of Cambridge were greeted on the runway by the Commander of British Read More

Cyprus Airways and Blue Air Launch Code-Share Partnership

Cyprus Airways and Romanian carrier Blue Air have entered into a codeshare partnership. From the 3rd December 2018, Cyprus Airways’ customers will be able to fly from Larnaca to London Luton, Athens, Thessaloniki and Bucharest through a codeshare agreement with Blue Air. The agreement will allow Cyprus Airways to sell tickets under its own flight code between Larnaca and above Blue Air operated destinations. Similarly, Blue Air will place its flight code on Cyprus Airways flights to Athens, Thessaloniki, Prague, Read More

Cyprus Airways deal with Blue Air offers better travel options

Cyprus Airways and Blue Air announced on Thursday they have signed a code share agreement offering more travel destinations to their customers. As of December 3, customers of Cyprus Airways will be able to travel with Blue Air from Larnaca to London, Luton, Athens, Thessaloniki and Bucharest. The agreement allows Cyprus Airways to sell tickets using its own codes for flight destinations from Larnaca offered by Blue Air. Likewise, Blue Air will be using its own codes for flights of Read More

CEOs discuss Banking Innovations at the 6th Cyprus Banking Forum

The 6th Cyprus Banking Forum presented by Logicom Solutions, will take place on Wednesday, December 5, 2018 at the Hilton Park Hotel in Nicosia. IMH is organizing the event to address the latest developments in the banking sector and provide a commentary on today’s banking ecosystem.Faced with an ever-changing financial landscape and an inevitable out with the old, in with the new attitude, the industry is confronted with the challenge of adapting to new technologies or innovating in its existing structures in order to evolve into the new era Read More

Cyprus real estate sector looking up

Cyprus’ real estate sector is continuing to thrive, building on the upward trend of previous years, with experts confident that sales transactions for 2018 will peak at an eight-year high.A PWC REPORT on the Cyprus Real Estate Market “First Half in Review H1 2018” showed that sale transactions reached 4,470 with the Land registry in H1, creating hopes that sales will surpass 2017’s eight-year high of 8,734. The number of 2018 H1 sales represent an uplift of 24% compared Read More

Continuing rise in property sales (Update)

DURING September 2018, the number of property sales contracts deposited at Land Registry offices across the Republic of Cyprus rose 14% compared to September 2017 according to official figures published earlier today by the Department of Lands and Surveys.Property sales have been rising for 17 consecutive months and this September rise follows a rise of 14% in August, 21% in July and 2% in June.During September a total of 687 contracts for the sale of residential and commercial Read More

Quality Group Announces Construction Plans for the First Executive Residency Zenon Hotel in Cyprus by Best Western

On Wednesday October 17th, Quality Group and Sunnyseeker Hospitality officially announced a new impressive hospitality project in Larnaca: Cyprus’ first Executive Residency Zenon Hotel by Best Western Hotels & Resorts.With its “Feel right at home” motto, the Executive Residency Zenon by Best Western is Cyprus’ first serviced apartments hotel of its kind, further enriching Larnaca’s hospitality scene, establishing the coastal city as the new dynamically developed hotel destination in Cyprus.Strategically located within the commercial heart of the city Read More

Contract for the Limassol Icon signed

Contract for the construction of the Limassol ‘Icon’ has been signed between the Imperio Group of Companies and Iacovou Brothers and is expected to be delivered by December 2020.At a height of 125 metres, it will be the fourth tallest building in Cyprus and will be built on Limassol’s coastal road in Germasogia. Work is underway and it is expected to be delivered by December 2020. Continue reading at source:  Cyprus Property Read More

Bill seeks to lower VAT on land for primary residence

The government is preparing a bill exempting from payment of the full 19 per cent VAT, purchases of undeveloped land for the purpose of building on it an owner-occupied primary dwelling.Currently, when someone buys a finished housing unit or apartment as their primary dwelling they pay 5 per cent VAT, whereas buying a plot of land for owner-occupied housing incurs a 19 per cent VAT charge.Lawmakers had called for a change, arguing it is unfair to newlyweds who Read More

Moderate property price rises continue

DURING the second quarter of 2018 the Central Bank of Cyprus (CBC) reports that the residential property price index rose by 0.3% over the second quarter of 2018, with the price index for houses and apartments rising by 0.2% and 0.7% respectively.Referring to the price increases as ‘moderate’ except in certain areas, the CBC notes that the index has now recorded increases for eight consecutive quarters. Continue reading at source:  Copyright © Cyprus Property Read More

Paralimni Marina construction underway

Construction work has begun on the Paralimni marina, which is expected to be fully operational by mid-2021 and which will and will have a capacity of approximately 300 vessels.THE PROJECT for the construction of the Paralimni marina has commenced according to an announcement by the Department of Fisheries and Marine Research. The department wishes to inform the public that there will be some disruption for vessels at the Paralimni fishing shelter as works begin. Specifically, from Friday October 19, Read More

Official Opening of Larnacas Radisson Blu Hotel and QBlu Plaza

Quality Group and SunnySeeker Hotels officially introduced Larnaca’s latest gem, comprising Radisson Blu Hotel Larnaca and QBlu Plaza, to media representatives at a press conference on Wednesday October 3rd.Embracing a characteristic “Feel the Difference” motto and stylistic approach inspired by blue hues and elements, Radisson Blu Hotel is Cyprus’s first business hotel, while QBlu Plaza significantly enriches Larnaca’s fine dining and high-end shopping scene, becoming the town’s new focal point for social events and more.Strategically positioned beside the port and a mere Read More

No safe place to swim

The most ambitious project for Chlorakas in more than a decade is set to change all thatTHE creation of a new beach, breakwaters and leisure facilities is earmarked for Chlorakas in Paphos, and at a cost of around €4 million, is being hailed as the most ambitious and important project for the area in more than a decade. The project will hopefully get underway next year, according to officials.The beach will also be the first ‘organised and safe area’ Read More

HB Exceeds 150,000 Transactions Daily After CCB Acquisition

Hellenic Bank exceeded 150,000 transactions per day after it officially acquired the operations of the state-owned Cyprus Cooperative Bank (CCB) on September 3.According to data given to the Cyprus News Agency by Hellenic Bank, the unified banking network serves more than 65,000 clients daily while transactions has exceeded 150,000 on a daily basis. Continue reading at source:  Gold News Read More

Invest Cyprus Presents Investment Opportunities in Cyprus in view of Brexit

The Cyprus Investment Promotion Agency (Invest Cyprus), presented the investment opportunities that Cyprus can offer in view of Brexit, in an event that took place in London, on the future of Europe and Cyprus. The event, which was co-organised by the Agency and Bloomberg, took place on Friday, 21stSeptember at the new headquarters of the international news agency, under the auspices of the President of the Republic, Nicos Anastasiades.In his introductory speech to the event, the President of the Read More

Cyprus Egypt sign gas pipeline agreement Updated

Egypt and Cyprus on Wednesday signed an agreement for the construction of an underwater pipeline to export natural gas to Egypt.The deal was signed at the presidential palace by Energy Minister Yiorgos Lakkotrypis and Egypt’s Oil Minister Tarek el-Molla.Lakkotrypis said the agreement aimed at ensuring the timely and safe development, construction, and operation of an underwater pipeline directly to Egypt through the two countries’ exclusive economic zones. Continue reading at source:  Cyprus Read More

Two historical mountain properties go under the hammer

Two historical properties, reminders of a bygone era and only a stone’s throw from each other in Prodromos village Limassol, went under the hammer on Tuesday at the behest of the Bank of Cyprus but only one was sold, and it wasn’t the abandoned Berengaria Hotel.The house that was sold on Tuesday was owned in the past by well-known Princess Zena Kanther De Tyras, a woman who was born into poverty in a Paphos village, and rescued by an Read More

UNIC to create First Veterinary School in Cyprus

The University of Nicosia has announced an agreement with the Royal Veterinary College (RVC) to create Cyprus’ first veterinary school. This new initiative aims to deliver two new bachelor degrees in Veterinary Medicine in Cyprus. The University anticipates that its first class will commence in September 2020, with students choosing between a five-year course and a four-year accelerated course.The agreement was confirmed by the signing of a Memorandum of Understanding between the two universities on Thursday 30th August, in Read More

French President expected to visit Cyprus in November

French President Emmanuel Macron is expected to visit Cyprus in November for talks with President Nicos Anastasiades, with whom he is set to announce a number of bilateral agreements.The Cyprus News Agency reported that Macron’s visit is also related to an invitation extended to him six months ago by the Rector of the University of Cyprus Constantinos Christofides to attend the inauguration ceremony of the University’s Stelios Ioannou Learning Resource Center that will take place on November 22.The Read More

Hellenic officially takes over Coop operations (Updated)

Hellenic Bank on Monday officially took control of the operations of the state-owned Cyprus Cooperative Bank (CCB), with officials saying the transition went without a glitch.Following a takeover agreement with the state, Hellenic is now running the co-operative’s network of branches.“The acquisition is expected to accelerate the bank’s strategy of strengthening its banking franchise across Cyprus with an enlarged and diversified customer base. This expansion establishes Hellenic Bank as the leading retail and SME bank in Cyprus,” said Read More

Indian presidents visit highlights long links with Cyprus

The Indian President Ram Nath Kovind’s three-day visit to Cyprus starting on Sunday follows President Nicos Anastasiades’ visit to India last year and is part of the two countries’ efforts to promote a strong trade and business relationship.The two countries have been of extensive mutual support in international forums over the years and during this visit, the two sides are expected to finalise a number of bilateral agreements.Kovind arrives on Sunday accompanied by high-ranking officials.During the evening, the Read More

Nicosia Mall at 100 per cent

The wait for Nicosia’s largest shopping mall is coming to an end and the results present a promising environment.One hundred per cent of the available space, which amounts to 150 stores, has been sold to known brands including Kipling, Topshop and Topman, Vans, The North Face, Lee and more.Shopping clearly lies at the heart of Nicosia Mall and it has a strategic choice of fashion, beauty and leisure stores and the island’s largest number of sporting brands under Read More

Residential Properties in Cyprus Continue Upward Trend

Residential Properties Index in Cyprus rose by a quarterly 0.6% in the first quarter of 2018, continuing its upward trend for seven consecutive quarters, the Central Bank of Cyprus has said.The Residential Properties Index (comprising both houses and apartments) in the first quarter reached 75 units from 74.6 units the previous quarter, the CBC said, following an upward trajectory since the third quarter of 2016.On an annual basis, the Residential Properties Index rose by 1.8%, Read More

Cyprus Airways Launches Online Check-In

Cyprus Airways has announced the launch of its web check-in service. Cyprus Airways' passengers now have the option of checking in for their flights online at cyprusairways.com. This simple and convenient service allows passengers to save time at the airport and allows self-assignment of seats in the cabin. The online check-in service is available for all the flights departing from Larnaca, Tel Aviv and St. Petersburg. More destinations will be introduced in the coming months. Continue reading at Source:  Read More

One in three property sales to non-EU buyers

There has been a steady increase in property sales and in the number of properties sold to foreign buyers, Philenews reported on Thursday.It said that the latest figures from the Land and Surveys Department show that a total number of 5,366 sales contracts were submitted in the first seven months of the year, up 23% over the same period the previous year. Sales to foreign buyers stood at 2613 or 48.7%.One in three sales involved non EU-residents. Read More

Level airline launches Larnaca to Vienna route

Low-cost airline Level launched its new Larnaca-Vienna route with its first flight on August 11, it was announced on Monday.This airline, operational since June 2017, will offer Larnaca-Vienna flights three to five times a week on an Airbus A321 aircraft. Continue reading at Source:  Cyprus Read More

AstroBank Grows by 55% by Acquiring the Banking Business of USB Bank

In conformity with its growth strategy, AstroBank Limited has announced that it has signed an agreement with USB Bank PLC to acquire the banking business including the staff of USB, excluding only certain assets. The agreement is expected to be completed before the end of the year following the necessary approvals from the regulatory authorities and completion of other formalities. The transaction will be financed from own resources and supported by a capital raise, primarily from AstroBank’s existing shareholders, currently Read More

Worlds largest passenger plane drops in to Larnaca

The world’s largest passenger plane, an Airbus A380, landed in Larnaca early on Thursday after departing from Denmark at 8.15pm the day before.The plane, which ordinarily would be used to reach destinations far from Copenhagen, was reportedly used because tour operator Thomas Cook was left without an aircraft following a technical problem on the Greek island of Rhodes which left the operator short of a plane. The plane was leased from Hi-Fly, which is leasing it from owner Read More

Nicosia signs contract for city centre revamp

The Nicosia municipality on Wednesday signed the contracts for the first stage of revamping the capital’s one-time commercial centre with work set to start in September this year.The contract for the project to overhaul the triangle between Makarios Avenue, Stasicratous Street and Evagoras Avenue, was awarded to Cybarco-Panayides. Work on the first stage is scheduled to start on September 3. It will cost an estimated €8m and is expected to take 16 months.The project aims to turn the Read More

SPAR to open a supermarket in Larnaca

The international supermarket giant SPAR will open its first shop in Larnaca in cooperation with ERMES, a member of the CTC Group.The shop will open by the end of August in the city centre of Larnaca and the group plans to open more than 20 stores across Cyprus in the short term.The new store will be 1,300m2 with parking. A full range of products will be available but the focus will be on fresh products – fruits, vegetables, Read More

Germania Adds Three New Routes Connecting Germany with Cyprus

Germania unveiled that it will be adding three new routes to its Cyprus network for Summer 2019.Continuing on its promise to develop its flight service to and from Cyprus, new routes between Larnaca and Bremen, Dresden and Münster Osnabrück are set to be introduced, the Cyprus Traveller reports.At present, Germania operates services to/from Paphos Airport and five direct German destinations: Düsseldorf, Berlin, Hamburg, Nuremberg and Dresden.Services onboard the low-cost carrier feature drinks and snacks which are included Read More

Concert and radiomarathon organised in aid of Greece

By Kristian ChrysostomouCyprus’ efforts to help Greece deal with the after-effects of last week’s devastating fire continue this week with a free concert in Nicosia on Tuesday headlined by Anna Vissi and Antonis Remos.The concert at the Nicosia municipal park, organised by ‘Hope for Children’, will take place on July 31 between 5pm and 11pm in Nicosia’s municipal park near the House of Representatives. The bands performing will include Neon Knights, Cashiers and The Fuse.Tickets for €1, €2 Read More

Energy cooperation will ensure regional peace says president

Cooperation in hydrocarbons development can have a positive effect in the political relations between the Eastern Mediterranean countries, building the foundations for regional peace, President Nicos Anastasiades said on Thursday.He was addressing the new ambassadors of Switzerland, Portugal, the Holy See, Laos, Latvia, Ecuador, Moldova, Dominican Republic, Uganda and Nigeria to Cyprus, who presented their credentials in a ceremony at the Presidential Palace.The president assured them that the government and he personally, would provide every assistance and support Read More

Town planning approves permit for Geroskipou high rise

The town planning department has approved a permit to construct two 12-storey buildings and 122 apartments in Geroskipou in Paphos as part of the Peninsula Resort project, Atum Developments said in a statement.Included in the project is an international brand 5-star hotel resort, for which another permit application has already been submitted.The company said the Peninsula Resort project is being implemented in parallel with the Eden City project, which is still being discussed with the state. Continue reading Read More

Petition Launched to Reinstate Ferry Link between Greece and Cyprus

An online campaign calling for the reinstatement of a ferry service connecting Piraeus in Greece with Limassol , has thus far gathered over 11,400 signatures on avaaz.org.A Cyprus-based group launched the campaign in efforts to exert pressure on the governments of Greece and Cyprus to reinstate the ferry link which was discontinued 18 years ago.Translated into seven languages, the online petition is addressed to the mayors of Limassol and Piraeus, the Cypriot president and the head of Read More

Japanese FM visiting to inaugurate firstever embassy of Japan in Cyprus

Japanese state minister for foreign affairs Kazuyuki Nakane will be in Cyprus o Monday on an official visit during which he will meet his Cypriot counterpart Nicos Christodoulides.At the meeting, which will take place at 5pm at the foreign ministry, the two are expected to discuss, among other things, bilateral relations and ways of strengthening them in fields such as trade, investment, tourism and crisis management. They will also discuss the Cyprus issue, as well as regional and international Read More

Monaco Telecom to Acquire MTN Cyprus

As of today, MTN Cyprus is at the forefront of the creation of a new, dynamic European family of telecoms companies.MTN and Monaco Telecom have agreed on the acquisition of the entire issued share capital of MTN Cyprus by Monaco Telecom. The transaction, costing €260 million, is expected to be completed in the third quarter of 2018.Monaco Telecom is the incumbent operator of the Principality of Monaco. It has a long tradition of innovation in mobile, fixed broadband Read More

Minister impressed with progress on Ayia Napa marina

Minister of Energy, Commerce and Tourism Giorgos Lakkotrypis and a team of ministry officials visited the site of the Ayia Napa marina on Monday to monitor the progress of the construction works.The main breakwater is nearly completed and preparations for the construction of one of the two towers in which 190 apartments will be housed are progressing. The towers will be built during the second phase of the project.The second phase also includes the construction of 29 luxury Read More

Lidl Cyprus Stops Sale of SingleUse Plastics by End 2019

Lidl Cyprus has announced that by the end of 2019 it will stop the sale of single-use plastics such as straws, cups and plates, cutlery and cotton buds in all its 17 stores operating in Cyprus.“Products made from alternative and recyclable materials will take their place, for which the company is already cooperating with its suppliers,” a Lidl Cyprus press release says.The company says that “it will set a goal to abolish and adapt straws which are also Read More

CSC Report Cyprus is the Largest Shipmanagement Centre in the EU

Reviewing 2017, the Cyprus Registry ranked again as the 11th largest merchant fleet worldwide and the 3rd largest fleet in the European Union (EU). According to the Cyprus Shipping Chamber’s Annual Report for 2017, Cyprus is considered to be the largest Shipmanagement Centre in the EU and among the three largest globally.Furthermore, in excess of 200 internationally known and recognised Shipowning, Shipmanagement, Chartering and Shipping related companies operate from Cyprus. The wider Shipping Sector employs approximately 4,500 employees ashore Read More

Official Opening of National CSIRT Cyprus

The official opening of the National CSIRT of Cyprus (Computer Security Incident Response Team) took place on Monday 25th June 2018 at the Team’s premises in Nicosia by the Minister of Transport, Communications and Works, Vasiliki Anastasiadou. Also present at the ceremony were George Michaelides the Commissioner of Electronic Communications and Postal Regulation, the Deputy Commissioner Petros Galides and Brahima Sanou, Director of the Telecommunication Development Bureau of International Telecommunication Union (ITU).The National CSIRT is the Computer Security Incident Read More

British Airways Increases Flights between Larnaca and Heathrow Terminal 5

British Airways has announced a significant increase in the number of flights from Larnaca International Airport to London Heathrow Terminal 5. Particularly convenient for all passengers wishing to travel to the United States, the additional Monday, Wednesday and Sunday flights now offer same-day connections with very attractive fares to the buzzing cities of New York and Boston. Tickets at competitive prices will be on sale from now until July 2, 2018.The new schedule, boosted with three additional weekly flights, Read More

US working to strengthen security and energy ties with Cyprus

The US is working to strengthen security and energy cooperation with Cyprus, Assistant Secretary of State for European and Eurasian Affairs Wes Mitchell told Congress’ Foreign Affairs Committee on Tuesday.He noted that Washington is constructing a long-term strategy to bolster their presence in the Eastern Mediterranean.“We are cultivating Greece as an anchor of stability in the Mediterranean and Western Balkans and working to systematically strengthen security and energy cooperation with Cyprus,” Mitchell said. Continue reading at source:  Cyprus Read More

Acceptance of HBs Final Offer to Acquire CCB

Further to the announcement made by Hellenic Bank Public Company Limited (the “Company”) on 15 June 2018, that it submitted a final offer (the “Final Offer”) for the acquisition (the “Acquisition”) of certain assets and liabilities of the Cyprus Cooperative Bank Ltd (“CCB”), and further to the statement by the Minister of Finance that the Council of Ministers of the Republic of Cyprus is supportive of the Company’s Final Offer, subject to submission of a capital plan by the Company, Read More

Astrobank Announces Strategic Partnership with Swiss Asset Manager Crescendo Capital

AstroBank Private Banking is pleased to announce a strategic partnership with Geneva-based boutique Asset Manager Crescendo Capital S.A., the core wealth management business of Crescendo Group. With affiliated businesses in London, Guernsey, Manchester and the Americas, Crescendo Capital has a global capability for sourcing opportunities and servicing High Net Worth Individuals and Family Offices.‘This collaboration enhances our Private Banking offering by combining our local personalised service with a fuller range of asset management solutions. It brings Swiss Read More

Austrian airline to start flights from Paphos to Vienna

Austrian airline Laudamotion is about to start flights from Vienna to Paphos, a move welcomed by the Paphos regional tourism board on Wednesday.According to an announcement from the board, this development is particularly important and promising, as through Vienna, Paphos is linked to many airports and priority countries.At the same time, the announcement said, this “fully complies with the efforts made to expand the tourist season, develop new markets and specific forms of tourism”.Read More at Source: Cyprus Read More

Ground broken for casino resort

The groundbreaking ceremony for the new casino resort was underway on Friday in Limassol attended by President Nicos Anastasiades who described it a “historic day” and a “major milestone” for Cyprus.Anastasiades said City of Dreams Mediterranean constituted the biggest investment project undertaken in Cyprus and expressed his “sincerest appreciation” to Lawrence Ho, Chairman and CEO of Melco and his team and the CNS Group and Melis Shiakolas, for the confidence they displayed in the economy of Cyprus and its promising Read More

Daily Mail Cyprus amongst the ultimate hidden treasure destinations for 2018

Larnaca and Paphos amongst the top 50 European destinations for Brits in 2018!British media outlet Daily Mail mentions the best holidays for Brits this summer in Europe in a recent article.A popular travel site Kayak.co.uk analysed searches made by Brits for holidays beyond the continent in July and August and discovered that demand for trips to Cyprus and specifically Larnaca and Paphos are brits popular demand.Read More from Source: Cyprus Read More

Anastasiades Nicosia Looks Forward To Working with Rome

President of the Republic of Cyprus Nicos Anastasiades has sent a congratulatory message to Italy’s new Prime Minister Giuseppe Conte, and expressed his wish to work with him for the smooth realization of the potential of bilateral relations, arising from the discovery of hydrocarbons in Cyprus’ Exclusive Economic Zone and the active presence of ENI. “I would like to congratulate you on the assumption of your high duties as President of the Council of Ministers of the Italian Republic and Read More

Property transactions up 10 in May land registry says

The number of property transactions rose an annual 10 per cent in May, to 828, the highest in 2018, on a strong increase in Nicosia and Famagusta, the land department said.The number of property sales in Nicosia rose 30 per cent, to 153 compared to the respective month of 2017, while in the district of Famagusta they rose 108 per cent, to 79, the Department of Lands and Surveys said in a statement.Read More from the Source: Cyprus Read More

RCB Bank Records Profit of 972M in 2017

RCB Bank Ltd has published the consolidated financial statements for 2017, approved by the Board of Directors.In 2017, the net profit after tax demonstrated 19% growth in comparison to 2016 and amounted to 97.2 million Euros. RCB Bank has been consistently profitable for the last five years. The main driver behind the growth in profits was the increase of non-interest income from 23.4 million Euros in 2016 to 35.6 million Euros in 2017, the extension of Read More

TUS Airways Launches its Summer Sales with Special Prices

The Cyprus-based TUS Airways: "The Ultimate Schedule" has launched its summer sales, offering special prices for the pre-booking of a limited number of seats for flights to selected destinations in the period between the 1st June and the 27th October 2018. As part of the summer sale, the prices for one-way tickets from Larnaca to Athens start from 52 Euros, to Thessaloniki from 54 Euros, to Alexandroupoli from 65 Euros, to Araxos-Patra from 65 Euros and to Rome from 70 Read More

Changing the face of Limassol

By Andria KadesA company that says it has helped changed the face of Limassol is now in the midst of constructing a trio of towers in the heart of the city.Dubbed ‘Trilogy’ the ambitious project, taken up by Cybarco, spans 21,500 square metres of land, with the towers ranging from 36 to 39 levels, reaching a height of 161 meters.The allure of high buildings for office space or residential apartments is the inevitable view of the sea according Read More

President welcomes long standing friendship with Russia

President Nicos Anastasiades spoke of the long term relations between Cyprus and Russia that have proved resistant to challenges during an opening address at the 13th Cyprus-Russian festival in Limassol on Saturday night.He said through the festival the two countries share their rich culture and traditions, celebrating their friendship and honouring their bonds.As is well known, the president said Cyprus and Russie have a historic relationship characterized by deep friendship and co-operation between the two populations, which “we Read More

Gulf Air Enters a New Era

Summer is fast approaching and Gulf Air has introduced a brand new identity, including a redesigned logo of the airline’s majestic falcon, along with rolling out many positive developments that include a new, modern incoming fleet and an expanding network.Gulf Air increased its flights from Bahrain to Larnaca permanently from 5 times a week to daily, while aiming to strengthen Bahrain’s strategic business and tourism links. Further additions to its flight schedule will also be made from mid-June until Read More

Cyprus Airways announces the launch of ticket sales for flights from Larnaca to Chania for summer 2018

Larnaca, Cyprus – Cyprus Airways announces the launch of ticket sales for flights from Larnaca to Chania, for July and August 2018. Direct flights from Larnaca to Chania will begin on 14th of July 2018. Cyprus Airways will connect Larnaca with Chania, twice a week, every Tuesday and Saturday.“We are excited to add Chania to our network for the months of July and August. Chania is one of the most beautiful and picturesque places in Greece and a very Read More

Cyprus will remain a safe haven for those in need minister says at launch of Argonaftis

Cyprus will remain a safe haven for those in need, especially for the refugees who are forced to abandon their homes and families, Defence Minister Savvas Angelides said on Wednesday at the start of the international maritime search and rescue exercise Argonaftis 2018.Over 40 countries are taking part in, or are observing, the exercise – which ends on Friday – from the ‘Zenon’ joint search and rescue coordinating centre in Larnaca.Angelides said Argonaftis was the biggest such exercise Read More

Rights for Britons to live in Cyprus as they do now secured

We have secured the right for UK nationals to continue living their life in Cyprus as they do now, new UK High Commissioner Stephen Lillie said in an open letter to UK nationals living on the island on Tuesday, strongly urging those who have not yet done so, to register as residents with the Cypriot authorities, if they wish to continue to live in Cyprus.Furthermore, he assured that “we will continue to work closely with the Cypriot government to Read More

Melco Holds Exclusive Preview of Morpheus the New Hotel at City of Dreams

Melco Resorts & Entertainment Limited, a developer, owner and operator of casino gaming and entertainment casino resort facilities in Asia, held an exclusive preview of Morpheus, the new hotel at City of Dreams. Melco is working closely with the Macau government to obtain all licenses required for the hotel opening, targeting to open its doors to the public on June 15, 2018. Designed by late Dame Zaha Hadid, the USD 1.1 billion iconic landmark is integral to the relaunch Read More

Opening of Japanese Embassy base for enhancing bilateral ties

The opening of the Embassy of Japan in Cyprus in January this year is the symbolic representation of the deepening mutual relations between the two countries and it will be the base of further enhancement and expansion of bilateral ties in areas including politics, economy, trade, culture, education, science and technology, ambassador Shinichi Nakatsugawa said on Friday.Presenting his credentials to President Nicos Anastasiades, the ambassador said the active exchange of high level bilateral visits is also important for the Read More

Cyprus launches visa application centres in the UK

By Stelios OrphanidesCyprus’s embassy in London had four “visa application centres” launched by the UK-based VFS Global, tasked with accepting applications for visas from residents of the UK, which two years ago voted to leave the European Union.“Although UK visitors do not need a visa if they are staying less than 90 days, the new service will be of use to those who stay longer, such as those with holiday homes, those who spend more time in Cyprus visiting Read More

Xenion pupils on 30 hour work fast to raise awareness of poverty

Inspired by NGO World Visions ’30 hour famine’, a programme dedicated to the well-being of children, 30 pupils of Xenion High school in Paralimni went without food for 30 hours recently.The idea was for the teenagers to drink only water and sleep rough while also taking part in activities designed to raise their understanding of what it means to be poor and other actions helping their community.“The fast started on Friday morning at 7am, when they had their Read More

Steady progress on Ayia Napa marina says developer

More than 55 per cent of the residential properties in the Eastern Tower of the Ayia Napa marina project, have already been sold, developers of the project said on Wednesday in a progress report on the €220 million project.The project, in which the Egyptian investor Naguib Sawiris’ Gemini Real Estate Ltd has an 80 per cent stake and the Cyprus-based Caramondanis Group a 20 per cent stake, is scheduled to be to be completely finished by 2021. The marina Read More

Investor reaches deal with Larnaca mayor over luxury hotel

Amendments made to the agreement between a Russian investor who plans to build a five-star hotel at the Phinikoudes beach and the Larnaca municipality are subject to approval by the cabinet, the town’s mayor said on Monday.“This is a complementary agreement between the two sides, which concerns the new terms of repayment by the investor for the municipal unit located on Athens avenue which he bought. The supplementary agreement was forwarded to the ministry of the interior to be Read More

Cyprus is very safe say UK tourism officials

UK media reports about ‘terrified Britons’ ready to ‘flee Cyprus’ in the run-up and immediate aftermath of air strikes on Syrian government targets from the RAF base at Akrotiri early Saturday were described as scaremongering by officials on Monday.British tabloids spoke to a number of potential holidaymakers and people who have relatives living in Cyprus who appeared to fear Russian retaliation against the bases over the airstrikes.UK Prime Minister Theresa May had called President Nicos Anastasiades on Saturday, Read More

Tax break for young couples buying land for first home

The government has submitted to parliament a draft bill indirectly exempting from payment of 19 per cent VAT young couples who buy land for the purpose of building a primary residence.The issue is related to the passage of a law last November imposing 19 per cent VAT on building land.In its wake, persons buying a finished housing unit or apartment as their primary dwelling must pay 5 per cent VAT, whereas purchasing a plot of land for owner-occupied Read More

Anastasiades congratulates Cypriot athletes on success in Commonwealth Games

Cypriot athletes who competed in the 21st Commonwealth Games, in Queensland, Australia managed to place Cyprus in 10th place, with 14 medals.In a written statement on Sunday, President Nicos Anastasiades conveyed his “warmest congratulations to all those who represented our country in the Commonwealth Games, which were hosted in Australia.”The results, he said, “confirm that sports are day by day becoming more competitive in our country and they not only make us proud but also create an obligation Read More

Papaellinas family buys Alpha TV channel

Television channel Alpha has been bought by members of the Papaellinas family, which also owns the Alfa Mega supermarket chain, for €7m, it was announced on Wednesday.A statement issued by Alpha Cyprus said an initial agreement has been made for the acquisition of all the company’s shares by members of the Papaellinas family, which also owns the Papaellinas Group.The agreement is subject to the approval of the island’s broadcasting watchdog. Continue Read More

Cyprus Egypt preparing ground for gas pipeline foreign minister says Updated

Cyprus and Egypt will be ready in the near future to sign an agreement on a direct undersea natural gas pipeline from Cyprus’ exclusive economic zone to a liquefied natural gas plant in Egypt, Foreign Minister Nicos Christodoulides said.The minister, visiting Cairo on Tuesday, said: “We believe that there is a bright future for the cooperation between Cyprus and Egypt in the field of hydrocarbons as our cooperation is based on solid foundations.”In a joint press conference after Read More

Limassol mulls sea taxis

Limassol municipality has decided to look into the possibility of introducing water taxis to the sea around the city, daily Politis reported on Tuesday.The town is hoping to take advantage of the European programme Sumport – sustainability urban mobility in Med port cities – which aims at supporting the uptake of sustainable urban mobility plans (Sumps) and at implementing them at a local level through several pilot actions.In Limassol, the plan reportedly is to cover a distance of Read More

Anastasiades meets Blair in Cyprus on private visit

Former British Prime Minister Tony Blair met with President Nicos Anastasiades on Wednesday at the presidential palace in Nicosia.Blair, in Cyprus on a private visit, told reporters after the meeting that the two had an excellent discussion.Lasting over an hour, they spoke about the Cyprus problem, challenges in the Middle East region and the ties between Cyprus and the UK.Blair said they discussed “the strong ties between our two countries and the importance of keeping those ties Read More

First Flight of Cyprus Airways from Larnaca to Beirut

Cyprus Airways' first flight from Larnaca to Beirut took place on the 29th March 2018. The flight departed from Larnaca at 10:40 in the morning and landed in Beirut at 11:20. “We are absolutely delighted to introduce Beirut on our network and feel that this route will be a popular choice for short break holidays for both Lebanese and Cyprus markets” stated Natalia Popova, Chief Commercial Officer of Cyprus Airways.Cyprus Airways will connect Larnaca with Beirut, initially with 2 Read More

Athens International Airport Welcomes First Cyprus Airways Flight from Larnaca to Athens

Cyprus Airways first flight to Athens departed from Larnaca at 3:00 in the afternoon and landed in Athens at 4:45. Athens International Airport welcomed Cyprus Airways aircraft with the ceremonial water cannon salute, followed by the “ribbon bonding” ceremony for the official guests and passengers, at the A5 Gate, symbolizing the air link between the two countries.Cyprus Airways will connect Larnaca with Athens, initially with 2 flights a week and 4 flights a week from June 1, 2018.Return Read More

Expecting urban planning golf in Ayia Napa

The planning permission to complete the final negotiations with the interested investors and to begin the construction works on the one hand expects the company that has undertaken the development of a golf course in the forest of Ayia Napa.The permits are expected to be issued in 2018 to start the project soon with the construction of the golf course on 14 Nagorabad landscapes Cavo Greco, the total area of ​​which exceeds the 104,000 sq. m.The cost of Read More

Rebranded Cyprus Airways completes inaugural flight

Rebranded Cyprus Airways on Thursday carried out its first flight to Athens, as previously announced.The Airbus A319 aircraft landed at Athens’ international airport at 4.45pm, according to a press release.On the tarmac, the aircraft was greeted with a water arch.Cyprus Airways will initially fly to Athens twice a week, and four times a week as of June 1.Ticket fares for the Larnaca-Athens return trip start from €97, all taxes and surcharges included. Tickets may be Read More

New airline adds flights to Paphos

Right in time for the start of the peak travel season, a new Austrian airline will offer flights and connections to Paphos Airport.After performing its inaugural flight last week, the company has now made flights available for booking, ahead of its first Cyprus flights at the beginning of June.Laudamotion is the latest development in the history of the successful airline NIKI. Ever since it was first founded in November 2003, NIKI has been continuously expanding both its fleet Read More

Decision on Paphos Marina due in weeks

A new administrative marina management committee has been appointed by the council of ministers and is currently examining documents and paperwork submitted as part of the tender process for the highly anticipated Paphos marina.Head of the Paphos Chamber of Commerce (EVE) Andreas Demetriades told the Cyprus Mail he expects a decision in two to three weeks between the two remaining bids and work to finally get underway on the facility at Potima Bay in Kissonerga.“Because of successful recourse brought by the Poseidon consortium to Read More

Trilogy Limassol Seafront Officially Launches Property Sales

Trilogy Limassol Seafront, the integrated beachfront development by Cybarco - currently under construction on Limassol’s coastline - has announced the official launch of sales for the luxury apartments and offices in its two front towers. The West Tower is due for delivery at the end of 2021 and the East Tower will follow just three months later, in March 2022.The sales launch comes in conjunction with the opening of the new Cybarco sales office on the project site, now Read More

Marr The new residential tower of 110 meters

The construction of the new residential building in Germasogeia by Marr Cyprus, which combines the advantages of central location, security and inspired architecture, is underway.The Marr Tower will consist of a total of 65 apartments, while its total height reaches 110 meters. In particular, it offers a choice of 1-3 bedroom apartments, as well as two duplex penthouse with roof garden, all with a height of 3.40 meters.Continue Read More

Ryanair Additional 12 routes to Paphos for winter 20182019

The Touristic Development and Propagation Company of Paphos Region (ETAP) is particularly keen to welcome Ryanair's decision to extend its winter program to Pafos International Airport and continue several regular flights on a year-round basis.Particularly excellent developments in Ryanair's decision are the routes connecting Pafos with Ireland, Tel-Aviv, UK airports, Amman, Krakow, Bratislava (Vienna) and the Baltic Sea, which are strategically important and upgraded the destination Paphos and Paphos International Airport.This development is of exceptional and strategic importance Read More

Limassol Del Mar Construction Assigned to a Consortium of Four Companies

Cypeir Properties Ltd has announced assignment of the construction works of Limassol Del Mar, the fully licensed luxurious project, to the consortium of companies, which includes Atlaspantou Co Ltd, MAN Enterprise, ICM Group and CMB Società Cooperativa. These companies have a wide expertise in the field of high-rise developments and the assignment decision leaned towards them due to their eminent professionalism, international standards and novelty in successfully delivering Limassol Del Mar, the development project of international standards.One of the Read More

Rob Shuter MTN Cyprus Reports 10% YoY Revenue Growth

Rob Shuter, MTN Group CEO, visited MTN Cyprus on February 13th, 2018 together with Ismail Jaroudi Vice President of MENA region. Rob Shuter, recognizing MTN Cyprus’ strong performance during 2017, met with Cyprus’ executive team and staff and congratulated them for their efforts that positioned MTN Cyprus not only as the fastest-growing telecommunications provider in Cyprus but also as one of the top telecommunications companies in Europe to report a 10% year on year revenue growth.Specifically, MTN has increased Read More

HB 2017 A Year of Strategic Progress

During 2017 Hellenic Bank made further progress towards achieving its strategic targets by completing major initiatives to further strengthen the Group’s balance sheet and enhance its earnings capacity.Hellenic Bank was the first Cypriot Bank to agree an NPES portfolio sale, totaling €145 million while setting up the first independent debt server in Cyprus. Organic reduction of NPEs for 9 consecutive quarters, coupled with the NPEs sale, resulted in an NPEs ratio of 53%. The Group maintains its strong capital Read More

Trilogy Limassol Seafront Launches its Website

Trilogy Limassol Seafront, the latest destination emerging on the Limassol coastline, has launched its website trilogylimassol.com, inviting visitors to discover the integrated beachfront development online, while becoming better acquainted with all the unique features that make Trilogy the ultimate place to live, work and play in Cyprus.Premium and elegant, like the brand, the website has been designed to offer a user-friendly experience, allowing visitors to easily navigate through the project’s masterplan and get a taste of the lifestyle Read More

Larnaca Port Expected to Generate Revenue of Over 95M in 2018

Larnaca Port is expected to generate revenue of over €9.5 million this year, due to an increase in activities, mainly due to additional cargo reaching the port from Europe, destined for exclusive economic zone works in Egypt and Israel.Speaking before the Committee of Finance at the House of Representatives, which discussed the Cyprus Ports Authority (CPA) budget for 2018, Chairman of the CPA Petros Krassas said that Larnaca Port was working to its full capacity.He explained that Read More

Funds take off in Cyprus

Cyprus is gaining ground on investment funds as, according to the Central Bank's data, the total assets of investment funds in Cyprus have almost tripled since 2008 to 2017, with the figure last December amounting to € 3.45 billion, while the number of investment funds at the end of 2017 stood at 114 compared to 55 in 2008, which is the largest number of registered investment funds ever in Cyprus. These figures show that Cyprus is heading in the Read More

Aristo Developers Participates in International Exhibitions in September

Continuing its firm grip in the Cyprus Real Estate market, Aristo Developers has entered 2018 with a firm presence at international property fairs throughout January.In particular, the Company featured in exhibitions and business forums held in Iran, Switzerland, China and the United States of America, while expanding its existing network of partners by implementing committed growth strategy in many new markets.Continue Read More

Tourist Arrivals Increases In January By 212

Arrivals of tourists increased in January 2018 by over 21% compared to last year.According to the Statistical Service of Cyprus, on the basis of the results of the Passengers Survey, arrivals of tourists reached 75.867 in January 2018 compared to 62.611 in January 2017, recording an increase of 21.2%.January 2018 had the highest volume of tourist arrivals ever recorded in Cyprus during the specific month.Tourist arrivals from the United Kingdom increased by 14.6% Read More

Property Prices Increase Significantly In Q3 2017

An increase of 7.4% in apartment prices and 4.2% in house prices on an annual basis was recorded by RICS’ Cyprus Property Price Index.Across Cyprus, on an annual basis (compared to Q3 2016), the price of flats increased by 7.4%, houses by 4.2%, offices by 8.8%, warehouses by 4.4% and retail by 4.5%.The Property Price Index has recorded increases on an annual basis in all cities and asset classes, with significant Read More

Cobalt Air Adds Access to Abu Dhabi from Larnaca

Hot on the heels of this week’s earlier route announcement to Düsseldorf, Cobalt Air is proud to announce a new three times weekly service linking Abu Dhabi with Larnaca, beginning on 25 February. Cyprus’ largest airline will offer its new signature business class on the route.Continue Read More

Anastasiades the first Cyprus President to visit Saudi Arabia

President of the Republic of Cyprus, Nicos Anastasiades, will be in Saudi Arabia on the January 2, to pay the first visit by a Cypriot President to the country.CNA has learnt that the President will be accompanied in Riyadh by the Ministers of Foreign Affairs, Energy, Defence and Transport and the Government Spokesman.President Anastasiades’ meetings will take place on the 3rd of January.Government sources have told CNA that the visit is important and symbolic, as it is Read More

Cyprus A Future Superyacht Hub

Cyprus is quickly becoming a sought-after superyacht destination, and that new activity is focused on the rapidly-expanding Ayia Napa Marina. With a new office in the heart of the marina, we speak to Stelios Kazamia, Director of Hill Robinson Cyprus, about the growing attraction of the island and the opportunities created by the uncertainty of Brexit.After holding a presence in Cyprus with Hill Robinson Nicosia since 2012, the new initiative to move the regional and industry expertise to Limassol Read More

Building Permits Increase by 45 in 2017

During the period January – September 2017, 4,281 building permits were issued compared to 3,901 in the corresponding period of the previous year, according to data published by the Statistical Service of Cyprus.The total value of these permits increased by 44.8% and the total area by 37.2%. The number of dwelling units recorded an increase of 35.1%.The Statistical Service announced that the number of building permits authorized by the municipal authorities and the district administration Read More

November property sales up 39

Property sales in Cyprus rose 39 per cent in November compared with November 2016 with sales increasing in all districts according to official figures from the Department of Lands and Surveys.THE NUMBER of property sales during November rose 39 per cent compared to November 2016 according to official statistics published by the Department of Lands and Surveys earlier today. This rise follows a rise of 18% in October, an 8% rise in September, and a 27% rise in August. Read More

Reduced VAT on property purchase

Those buying a property in Cyprus as their main residence may apply for a reduced rate of VAT of 5% on the purchase price/construction cost of a new dwelling providing they meet certain criteria.  This information leaflet from the Tax Department provides a general guidance on the purchase/construction of a new dwelling in the Republic of Cyprus. For any further information or special advice, please contact our VAT District Offices in all towns.Introduction As from the 1st of October Read More

Cyprus issues 16970 first time residence permits in 2016

In 2016, about 3.4 million first residence permits were issued in the European Union (EU) to non-EU citizens, a record number since comparable data are available (2008) and up by 28% (or nearly 735 000 residence permits) compared with 2015. This increase was mainly due to the larger number of first permits issued for `other reasons` (+64%) as well as for employment reasons (+21%), the Cyprus News Agency reports.Employment reasons accounted for a quarter (25.4%) of all Read More

Record number of Tourist arrival in october

October saw the highest number of tourist arrivals in Cyprus ever recorded in the tenth month of the year, the Statistical Service of Cyprus has reported.Cystat announced that on the basis of the results of the passengers survey, arrivals of tourists reached 406.870 in October 2017 compared to 357.194 in October 2016, recording an increase of 13.9%.“October 2017 had the highest number of tourist arrivals ever recorded in Cyprus during the specific month” Cystat noted. Read More

September property sales up by 8 percent

The number of property sales in Cyprus during September rose 18 per cent compared to September 2016 according to official statistics published by the Department of Lands and Surveys earlier today. This rise follows a 27% increase in August, an 18% increase in July, and a 28% increase in June. During September a total of 602 contracts for the sale of residential and commercial properties and land (building plots and fields) were deposited at Land Registry offices across Cyprus, compared with Read More

High hopes for the coming Winter tourism season

An extra 250,000 airline seats are being added for the coming winter tourism season, meaning a 20% increase in the number of arrivals between November and March. Although summer arrivals have reached record levels over the past two years with an estimated 3.6m expected by the end of the year, winter tourism has never been the strong suit of the island due to the lack of air connectivity in winter and hotels shutting down for the season.But the situation has Read More

Cyprus grows in popularity

British visitor numbers to Cyprus rose 8% in the first nine months of this year to reach 874,055.Arrivals from the rest of the world were up by 14% to 2.5 million.Orestis Rossides, UK director of the Cyprus Tourism Organisation, said: “Tourism is an important sector for Cyprus and we’re proud to announce that 2017 is on track to be another record-breaking year.“Our longer-term goal is to reach six million global tourist arrivals by 2030 and we Read More

10 Most Popular Sunny Destinations for Expats

The sun is one of the few things Brits can't import, no matter how much you are prepared to pay.For that reason, more than 60% of British expats consider the weather at their target destination before moving abroad – 17 percentage points more than the global average of expats worldwide – according to a study by Internations.The expat consultancy surveyed more than 14,000 expats from over 191 countries to find the homes away from home with the best climate.The Read More

Development of Larnaca Port and Marina on track Mayor says

Plans for the development of the Larnaca port and marina are on track and proposals by the three shortlisted tenders are expected to be submitted next month, Larnaca Mayor Andreas Vyras said on Wednesday.“We expect the proposals to be for touristic and commercial development, and not for an energy hub,” he told the Cyprus Mail.In total three consortiums/companies of the five that initially expressed interest were shortlisted in June to proceed to the next phase in the tender Read More

Paphos Coast gets Gold Award

The Paphos region has been recognised for its efforts to support sustainable tourism and honoured with a top European Union (EU) prize.The district has received the Gold Award for Quality Coast Policy and Sustainable Tourism Best Practices from the EU-endorsed Quality Coast programme.“The coastline of Paphos, from Yeroskipou to Neo Chorio, has been recognised on a European level as being environmentally-friendly and reflective of a sustainable tourism destination,” Paphos Regional Board of Tourism (PRBT) director, Nassos Hadjigiorgiou told Read More

Cyprus Among Top 10 Sunny Countries To Live In 2017

The weather seems to play a critical role in choice of destination: almost seven out of ten (67%) say the climate in their new home was a factor to consider before moving abroad.People are just as likely to think about the weather as they do about the costs of living and general living standards when deciding on their new home (67% and 70%, respectively), Tornosnews reports. Based on the insights of more than 14,000 expats from over 191 countries Read More

Busy Cyprus airports to accommodate around 2000 flights this week

A total of 1,960 flights to and from Cyprus’ two international airports are scheduled to take place until Sunday, August 13, marking the first wave of increased passenger traffic in August.Hermes Airports Spokesman Adamos Aspris told CNA today that Larnaca and Paphos airports are expected to accommodate a total of 320,000 passengers this week. “On average, there will be 280 flights on a daily basis, serving 45,000 passengers” he said.These are mostly flights to and from the UK, Read More

Cyprus Tax Resident by Staying in Cyprus 60 Days a Year

The Parliament of Cyprus approved a bill that gives the right to an individual to be considered as tax resident in Cyprus, provided that he meets cumulatively certain conditions.Thus, the Income Tax Law has been amended so that an individual, who does not remain in any of their state for one or more periods which altogether exceed 183 days in the same tax year and who is not tax resident in any other state for the same tax year, Read More

Larnaca tourism booming

This year is developing to be the best recorded in terms of tourist arrivals for the city and district of Larnaca. It is a strong follow-up to the success of 2016 when the Larnaca District drew 11.4% of total tourist arrivals in Cyprus, the largest percentage since 2001.This is the case says the Larnaca Tourist Development and Promotion Company (ETAP), according to data received by the Statistical Service.“The summer tourist season is peaking with both the city Read More

Karma Group Boosts Its Presence in China

Karma Group continued its presentations in China with remarkable success.The dynamic presence of the Group, based in the East Coast of the island with many projects in Ayia Napa and Protaras, continued through investment seminars in the cities of Ningbo, Hangzhou and Shanghai.The investment seminars and of course Karma’s wide property portfolio managed to attract the attention of real estate agents, wealth management firms, investors and property buyers.Karma’s representatives managed to have also several other meetings, attaining Read More

Ayia Napa Marina Continues Promotional Activities Abroad

Several successful promotional activities have given the Ayia Napa Marina wide international acclaim, attracting growing interest from international investors and buyers.More specifically, the project received very positive feedback when presented at events and exhibitions in Dubai and London during the last months.In addition, following two recent activities in Moscow, the Ayia Napa Marina left its mark in the capital while drawing great attention from around the country. The project was presented by the CEO of the company, Stavros Read More

Local property tax set to change

LOCAL property tax in Cyprus is set to change this year as the Municipalities and Communities will be assessing the tax payable on the 2013 property valuations rather than the 1980 valuations. It is anticipated that most people will pay about the same local property tax as they did in 2016. However, the new assessments may result in those whose properties were registered as plots or fields in 1980 and which have subsequently been developed – and those whose properties Read More

Cyprus Real Estate News Cyprus Property Sales Up 28

The Cyprus property recovery is underway  with the latest figures showing that prices for villas and flats are increasing and Cyprus property sales are also rising.The latest figures shows that  the number of properties sold in Cyprus during June rose 28 % compared to June 2016 with Cyprus property sales increasing in all districts with the exception of Larnaca according to official figures.This increase follows a 59% increase in May, a fall of 2% in April and a 16% Read More

Cyprus attracting more overseas interest

CYPRUS moved up 12 places in the TheMoveChannel.com’s Top of the Props index in March 2017 to become the sixth most sought after location by overseas property investors. Foreign buyers returned to the island’s property market at the end of 2016, with enquiries rising 22 per cent in the second half of the year. Enquiries faltered at the start of 2017, but buyers are now showing signs of returning in greater numbers. In real terms, enquiries for Cypriot property Read More

Property sales improve in March

Following February’s fall in property sales, the numbers sold in Cyprus during March compared to March 2016 improved in three of the five districts according to official statistics from the Department of Lands and Surveys.THE NUMBER of property sales in Cyprus during March rose 16 per cent compared to March 2016 according to official statistics published by the Department of Lands and Surveys. During March a total of 626 contracts for the sale of residential and commercial properties and Read More

Five consortiums submit proposals for Larnaca Marina

THE communications and works ministry announced on Monday that it has received five proposals from various consortiums for the development of the Larnaca port and marina.The announcement follows years of delays and the withdrawal of a previous redevelopment plan for the development of the Larnaca port and marina which the government wants to become the largest in Cyprus.None of the bidders has yet been named.The government had invited parties for expressions of interest by November 26, with Read More

Grand development plans for Larnaca

Larnaca is going to acquire two new hotels this year, with a further eight for which plans have been approved, likely to open within the next three years.A Radisson Blu Hotel & Residence franchise is set to open near the port this November, offering 105 guest rooms and serviced apartments, an official of the Larnaca Tourism Board confirmed on Monday, with a three-star hotel Lenios with 108 beds operating in Oroklini from July.A number of other grand projects Read More

Cyprus real estate market report for 2016

In its 2016 annual review Resolute Asset Management reports that the Cyprus real estate market is gradually becoming more active partly due to improving local and international economic conditions.IN ITS ANNUAL report Resolute Asset Management provides a review of the Cyprus economy & real estate market for 2016 and its prospects and expectations for the year ahead:Transaction volumeThe real estate market is gradually becoming more active partly due to improving local and international economic conditions. There is also an Read More

Marginal rise in property prices

Cyprus property prices rose marginally during the third quarter of 2016 for the first time since the end of 2009 according to the Residential Property Price Index published by the Cyprus Central Bank.THE CYPRUS Central Bank reported that home prices rose marginally in the third quarter of 2016 compared with the previous quarter, with its Residential Property Price Index rising for the first time since late 2009 to stand at 73.3. The index for house and apartment prices Read More

Cystat Building Permits Increase by 123 in November 2016

The Statistical Service announces that the number of building permits authorized by the municipal authorities and the district administration offices during November 2016 stood at 550. The total value of these permits reached €113.5 million and the total area 100.3 thousand square metres. These building permits provide for the construction of 341 dwelling units.During the period January – November 2016, 4,900 building permits were issued compared to 4,581 in the corresponding period of the previous year. The Read More

May launch for Luxury Larnaca Project

A huge seafood restaurant, the first phase of the luxury ‘Castle Project’ at Larnaca’s Mackenzie beach is expected to be completed in May.The undertaking by Lebanese millionaire Antoine Saniour includes a luxury hotel with nearly 500 beds and 13 floors, a beach bar and a jacuzzi for 100 people while water sports and around 800 sunbeds and umbrellas will be on offer on the beach.In the sea a small island in the shape of Cyprus will be constructed Read More

Larnaca Fuel Storage Facilities Dismantled

Fuel storage tanks in Larnaca were dismantled on Friday in a “historic” day for the city, Energy Minister Yiorgos Lakkotrypis said. Lakkotrypis noted that the city governance and its citizens have been seeking the removal of the fuel installations from the city’s seafront for a “long time”. The installations of the Cyprus Fuel Storage Company (KETAP) take up a space of 150,000 square metres of Laranca’s eastern seafront. The strategic fuel reserves previously held in these installations have been moved Read More

Poseidon Grand Marina Paphos marina secures funding

The consortium awarded the contract for the construction of the Paphos marina has secured a letter from the Bank of Cyprus in which it guarantees to fund the entire project according to the president of the Paphos Chamber of Commerce and Industry.The president of the Paphos Chamber of Commerce and Industry (PCCI), Andreas Demetriades told the Cyprus News Agency that, according to information received, the Poseidon Grand Marina of Paphos consortium has secured a letter from the Bank of Read More

Police in Nationwide Seat Belt Campaign

Traffic police across Cyprus began a week-long seat belt campaign on Monday that will specifically target those not buckling up.“The campaign for seatbelts will continue for all motorists and passengers up until Sunday,” Traffic Police Chief Yiannakis Charalambous told state radio on Monday. “This is the first such campaign of 2017.”He added: “The non-use of safety belts play a huge role in road fatalities. More than 50% of road deaths are due to people not using seat belts. Read More

HOTEL AWARD WINNERS

The ‘HolidayCheck Award 2017’ list was announced at the beginning of January revealing the top rated hotels in Cyprus, with four out of the eight located in the south Famagusta region.Hotels in the region took the first five spots (with the exception of second place, which goes to Club Aldiana in Larnaca).Napa Mermaid Hotel & Suites in Ayia Napa was ranked first, with Crystal Springs in Protaras taking third position, followed by Ayia Napa’s Nissi Beach Resort and Read More

Exciting News for Larnaca Airport Hotel

The first airport hotel and conference centre in Cyprus, a Radisson Blu hotel, is scheduled to open in Larnaca in 2019, it was announced on Wednesday. The hotel, located one km from the airport, will have 180 guestrooms and extensive meetings and event facilities as well as leisure facilities including a spa, gym, tennis court and indoor and outdoor swimming pools. It is the second hotel in Larnaca of one of the fastest growing hotel companies in the world, the Read More

EU to give Cyprus €3.1bn if solution materialises

he European Commission will allocate 3.1 billion euros to the island if a solution to the Cyprus Problem materialises, its President Jean-Claude Juncker said at Thursday’s Conference on Cyprus, according to CNA English today. Juncker reportedly informed the Conference that the money will come from the Commission’s Multiannual Financial Framework. Juncker and the EU’s Foreign Affairs Commissioner, Federica Mogherini, were the Union’s representatives at the Conference which focussed on the security and guarantees issue.- See more at: http://www. Read More

Bank of Cyprus fully repays ELA

The Bank of Cyprus announced today that it fully repaid its emergency liquidity assistance (ELA), to the Central Bank of Cyprus. ELA inherited €11.4 billion in April 2013, after Laiki Bank went into liquidation. The full repayment of ELA comes as the bank`s shares trading in the Cyprus Stock Exchange (CSE) and the London Stock Exchange (LSE) is expected to begin on January 19. “This is another significant milestone in the Bank’s journey back to strength since 2013, and Read More

2016 Cyprus Real Estate Sales Rise

Real estate sales rose by 43 per cent in 2016, figures released by the Department of Lands and Surveys (DLS) showed yesterday. Cyprus-wide sale contracts submitted to the DLS reached 7,013 in 2016 compared with 4,952 in 2015. The data exclude sales to foreigners to be released at a later stage. December sale contracts spiked 121 per cent reaching 1,134 in 2016 from 513 in December 2015. Sale contracts submitted in Limassol increased by 59 per cent reaching 2,496 in Read More

Parties express support for Cyprus talks in Geneva

A National Council meeting has concluded on Thursday with almost all of the political party leaders stating that they would decide in the afternoon whether or not they would attend the conference in Geneva on January 12. On Wednesday President Anastasiades said that the conference will be held in the form of a five-party conference. At the meeting today, the President presented the Council with two legal consultations from the Greek judge Christos Rozakis and the law firm Law and Read More

Cyprus Property Taxes in 2017

Cyprus Property Taxes in 2017 There have been a number of changes to various property taxes in Cyprus in recent times and a summary of the impact of those changes for individuals with property on the island, according to Cyprus Property News, are summarised below.Immovable Property Tax payable to the Tax Department Immovable Property Tax (IPT) was reduced in 2016 to approximately a quarter of that in the previous year and is abolished in 2017. Property Tax payable to Read More
Freephone:
Head Office Protaras:
Larnaca Office:
Paphos Office: