News

Cyprus is opening new embassies

Cyprus is set to reopen its High Commission in Kenya and its embassy in Indonesia in 2023, while plans are also being drawn up for inaugurating embassies in Argentina and Bahrain. According to foreign ministry spokesperson Theodoros Gotsis, Cyprus’ High Commission in Kenya’s capital Nairobi already partially reopened last month. He further hailed the planned opening of the embassy in Bahrain, the only country of the Arab Gulf in which Cyprus does not yet have a diplomatic mission.   Continue reading Read More

Cyprus Airways announces winter flight schedule and waives booking fees for a limited time

Cyprus Airways has announced its winter flight schedule and said it is waiving booking fees for a limited time across all flights and destinations. Described as the flag-carrying airline of Cyprus, the carrier’s winter flight schedule includes a range of destinations across Europe and the Middle East, with flights to and from major cities like Athens, Paris, Tel Aviv, and Rome. According to Cyprus Airways, the schedule is designed to meet the needs of both business and leisure travellers, offering Read More

New hotels opening this season in Larnaca

Larnaca will be the town to visit this summer season, what with a number of new hotels opening for the first time. These include international hotel chains that have chosen the Cypriot coastal town to launch their first business on the island. Ever since the grand opening of the luxury boutique hotel The Agora in Lefkara in late 2022, a historic hotel that went through a massive overhaul, a number of other hotel groups have shown an interest in the Read More

Ilya Aristov: I'd definitely recommend Cyprus for relocation

With over 25 years of experience, teams of highly-trained engineers around the world, deep industry sector knowledge, and ongoing technology research, DataArt helps clients create custom software that improves their operations and opens new markets. And its relocation to Cyprus back in May 2022 couldn’t have been smoother and something the Head of DataArt Cyprus, Ilya Aristov, would definitely recommend: “We feel very taken care of!” Can you tell us more about your company, when you were established in Read More

Greek lender Eurobank ready to purchase more shares in Cyprus’ Hellenic Bank

Greek lender Eurobank S.A. is ready to proceed with the acquisition of over 30 percent of shares in Hellenic Bank and become the main shareholder in Cyprus’ second largest lender. This is what Philenews reported on Tuesday citing Stavros Ioannou, Deputy CEO of Eurobank, Group COO & international operations.   Continue reading at source:  Read More

Cyprus scores 94.4 in World Bank's Women, Business and the Law index

Cyprus has scored 94.4 out of 100 in the World Bank's Women, Business and the Law index for 2023. The Women, Business and the Law 2023 report assesses 190 countries’ laws and regulations in eight areas related to women’s economic participation: mobility, workplace, pay, marriage, parenthood, entrepreneurship, assets, and pensions. The data, which are current through 1 October 2022, do not take the paid parental leave law that was voted in by the Cyprus parliament on 6 October, thus Read More

Pafos wins EU 2023 European Capital of Smart Tourism competition

Pafos, on the southwest coast of the island, along with Sevilla in Spain are the winners of the EU 2023 European Capitals of Smart Tourism competition. The title was awarded on Friday during an event at the Town Hall of Pafos and as organizers said, the award was the result of a careful and systematic effort by the Municipality and the organisation for Tourism Development and Promotion of the district.   Continue reading at source:  Cyprus Business Read More

Cyprus Airways partners with firm to offer lower fares

Cyprus Airways this week announced the launch of a strategic partnership with software solutions firm Atarev, in order to facilitate the Cypriot airline’s objective of offering the lowest available fares to its customers. According to an announcement, the partnership will include strategic consulting and the implementation of Atarev’s Lowest Fare Analyzer system, something which is expected to result in significant benefits to the airline, including in terms of increasing its revenue. In addition, the airline explained that the Lowest Fare Read More

Wargaming: The company that placed Cyprus on the gaming map

With over a decade of presence in the Cypriot business scene, video game developer Wargaming has a pretty good idea of what the main decisive factors are for a foreign company to move its headquarters to Cyprus. The importance of having international companies move their headquarters to the island – often referred to as headquartering – has been highlighted by the successive governments but also the market itself. Cyprus’ ICT sector in particular is one of the fastest growing, with Read More

Smart Nicosia project wins green award

Nicosia’s smart city project won first place among 100 nominations across Europe for evaluating the best smart green solutions, the municipality announced on Friday. Smart Nicosia, a project carried out in cooperation with Nokia and Cyta, was distinguished by the European Green Digital Coalition Initiative.   This European corporate focuses on how major technology companies will contribute to reducing their environmental footprint of the planet.       Continue reading at source:  Cyprus Read More

Hellenic Bank posts €24.2 mln profit; CEO Oliver Gatzke pleased with progress

Hellenic Bank on Wednesday released its financial results for 2022, posting a full-year profit of €24.2 million, marking a rise of 307 per cent year-on-year. In addition, it managed to further de-risk its balance sheet, achieving a non-performing exposures (NPE) ratio of 9.8 per cent, while the ratio drops to approximately 3.6 per cent when excluding NPEs covered by the APS agreement.   Regarding the bank’s capital position and funding, the bank recorded a capital adequacy ratio Read More

President-Elect Christodoulides To Be Sworn-In As New President

Newly elected President Nikos Christodoulides will be invested by the House of Representatives, as stipulated by Article 42 of the Constitution of the Republic of Cyprus, today, Tuesday, February 28 at 11.30am. Christodoulides will take up his official role as president on March 1. Today Christodoulides is expected to arrive first at the Parliament and will then be received by the President of the House Annita Demetriou for a brief meeting at her office. The outgoing President Nicos Anastasiades Read More

RICS Cyprus Property Price Index With KPMG In Cyprus Announces Results Of 2022 Q4

KPMG in Cyprus announces that the “RICS Cyprus Property Price Index with KPMG in Cyprus” has been issued for 2022 Q4. On behalf of KPMG in Cyprus, Christophoros Anayiotos, Head of Real Estate Industry Group, stated, “During the last quarter of 2022 the increasing trend in property values continued in most asset classes, with notable increases in Paphos. The best performing asset classes are again Apartments, followed by Offices and closely by Houses. Retail and Warehouses displayed minor adjustments, apart from Read More

Israeli sports technology company expands to Cyprus

i-BrainTech’s decision is seen as a vote of confidence in Cyprus Israeli sports technology company i-BrainTech, a pioneer in athletic brain training, on Tuesday announced its plan to expand its operation to Cyprus. “The company’s cutting-edge solutions will be made available to elite young athletes in the region, empowering them to elevate their cognitive abilities and physical performance,” the announcement said. “Already trusted by top professional athletes in leagues such as the Premier League and MLS, i-BrainTech’s technology is leading Read More

International Hotel Chains Coming To Cyprus

Cyprus’s tourism product is about to be enriched with new international hotel chains, some of which are anticipated to open and welcome their first guests within 2023. The new arrivals encompass an array of hotels from boutique to five-star establishments as well as id-range hotels. Most will open in Limassol. Intercontinental Limassol Hotel A global leader, Intercontinental Hotel Group and G. Frantzis Group announced in March 2022 that they had reached an agreement to construct a super luxurious five-star hotel Read More

Nikos Christodoulides Proclaimed President Of The Republic Of Cyprus With A Call For Unity

President-elect Nikos Christodoulides was officially proclaimed on Sunday as the new President of the Republic of Cyprus, calling for unity and saying that he will be a President for all Cypriots. In his speech at the proclamation ceremony, in Nicosia, Christodoulides thanked the Cypriot people for electing him to the highest office of the Republic of Cyprus and said that he will "spare no effort to realize the vision that I have shared with you, for a free country that Read More

Cyprus Airways January figures almost ten times higher than last year

Cyprus Airways carried more passengers in January this year than in 2019 before the start of the pandemic, the carrier announced on Monday. A total of 27,356 passengers travelled on the airline last month, a number close to tenfold last year’s number. The company operated 277 flights and improved how full planes are by 30 per cent. Compared with January 2019, the airline carried 56 per cent more passengers and operated 69 per cent more flights.       Continue Read More

Cabinet greenlights marina and cruise ship pier project in Paphos

The Council of Ministers on Wednesday approved the construction of a development in Paphos which will include a hotel, a marina and a pier for luxurious cruise ships. In statements after the Cabinet’s meeting, Deputy Tourism Minister, Savvas Perdios said that it has been a goal of his ministry for four years to promote the project’s implementation.   Continue reading at source:  Read More

Cyprus And Japan Enhance Their Cooperation In The Shipping Sector

Cyprus and Japan constantly enhance their bilateral cooperation, particularly in the shipping sector, and a Cyprus Republic Shipping Bureau will operate during the next months in Tokyo, it was said during a meeting on Monday between the Deputy Minister of Shipping, Vassilis Demetriades, and the new Ambassador of Japan to Cyprus, Yoshio Yamawaki. According to a press release issued by the Deputy Ministry of Shipping, Demetriades welcomed the Ambassador of Japan and expressed his satisfaction over the continuous enhancement of Read More

Авиаотрасль на взлете

У жителей острова стало больше возможностей летать в другие страны. Кипрские авиакомпании увеличивают поток пассажиров и открывают новые направления для полетов. О позитивных новостях отчитались TUS Airways и Cyprus Airways. В 2022 году кипрская авиакомпания TUS Airways запустила рейсы из Парижа в Ларнаку и Пафос. Стартовали до шести ежедневных рейсов между Ларнакой, Пафосом и Тель-Авивом. А перевозчик Cyprus Airways наконец договорился о полетах в Дубай. TUS Airways – объем перевозок Авиакомпания объявила о рекордном количестве пассажиров в 2022 году. Поток увеличился более Read More

Alpha Bank Cyprus appoints new CEO

Alpha Bank Cyprus on Tuesday announced that its board of directors has decided to appoint Miltos Michaelas as the bank’s new chief executive officer (CEO). The bank explained that the appointment of Michaelas opens a new chapter for the organisation in the Cypriot market, noting that the new CEO is an “executive who combines extensive international experience in the financial sector with excellent knowledge of the Cypriot economic and business reality”.       Continue reading at source:  Cyprus Read More

Cyprus banking system deposits increase by €590 million

Deposits in the Cypriot banking system experienced an increase of approximately €590 million in December 2022, with their total balance exceeding €52 billion, according to a report published on Friday by the Central Bank of Cyprus (CBC). In addition, loans marked a net increase after five consecutive months of decline and reached €26.1 billion, with liquidity in the system standing at €26 billion.   According to the central bank report, total deposits in December 2022 recorded a net increase Read More

Italy’s ship-building Feretti group chooses Paralimni marina as its base

Feretti group – Italy’s multinational ship-building giant – has chosen Cyprus as its base and more specifically the 300-berth Paralimni Marina which is expected to be completed by the summer of 2024. Its products are sold under the brands Ferretti Yachts, Custom Line, Pershing, Itama, Riva, Mochi Craft and CRN, Phlenews reported on Friday.   Continue reading at source:  Read More

Tech company Plum launches smart money-saving app in Cyprus

Plum, the smart European money app announced this week that it is launching in Cyprus, allowing Cypriots to join the 1.5 million people who are already using the app to save Money and invest in 3,000 stocks, commission-free, with an entry-level fee of €1. The app, which has offices in Nicosia, is now available in Cyprus, the home country of its CEO Victor Trokoudes. Founded in 2016 by Victor Trokoudes (ex-Wise), Plum automates parts of personal finance that people Read More

Aglantzia and Agios Theodoros Pitsilias named ‘Green capitals of Cyprus’

Aglantzia and Agios Theodoros were named ‘Green Capitals of Cyprus’ during a ceremony on Tuesday at the Presidential Palace. The two local authorities were handed the “Gold Mufflon Award” during the event. Also, the municipalities of Limassol, Ypsonas, Aglantzia, Athienou, Engomi, Latsia, Deryneia, Strovolos, Livadia, Lakatamia, Agia Napa, Larnaka, Agios Theodoros Council, Agios Theodoros Pitsilias Council, Pissouri Council and Louvaras Council received a Green flag award.   Continue reading at source:  Read More

Shipping Deputy Minister Welcomes Royal Caribbean’s Plans To Open An Office In Cyprus

Cyprus’ Shipping Deputy Minister, Vassilios Demetriades, welcomed on Monday Royal Caribbean’s plans to open an office in Cyprus, noting that this was “a tangible example of the way the Government turns a crisis into an opportunity”. In a written statement, Demetriades also welcomes Royal Caribbean’s decision to register one of its cruise ships, the Spectrum of the Seas, in the Cyprus Ships Registry. The vessel flies the Cypriot flag since last Friday, Demetriades said.   Continue reading at source:  Gold Read More

Strong interest from China for investment in science and technology park in Pentakomo

Strong Chinese interest for investment in the first high-tech science and technology park in Pentakomo, Limassol district, has been expressed, Philenews reported on Monday. Citing the Limassol Chamber of Commerce & Industry, the report also said the strong interest has prompted the government to proceed with faster procedures. That’s why is has decided to give the green light for a public consultation on this rather than following the failed practice of opening of tenders.   Continue reading at source:  Read More

California-Based Wrike Moves 150 People To A New Office In Cyprus

Wrike, the California-based provider of powerful collaborative work management solutions, has relocated more than 150 employees from engineering, marketing, customer support, and finance to Cyprus, making it the fastest-growing location in the company’s history. Wrike’s Cyprus office is located in a new contemporary lifestyle, energy-efficient class A building in Nicosia. “Cyprus's status as an emerging European technology hub has been strengthened by Wrike's decision to open offices in Nicosia,” said George Campanellas, CEO of Invest Cyprus. “Wrike joins the growing Read More

Larnaca marina’s redeveloped dock to include museum, floating catering outlets

Redevelopment works on the wooden dock at Larnaca marina should be completed before the summer and will also include a museum of photography and floating catering outlets. Among the improvements will also be the installation of new lighting and seats, Philenews reports citing CEO of Kition Ocean Holdings Panos Alexandrou.   Continue reading at source:  Read More

Ireland Is Interested In A Mutually Beneficial Higher Education Collaboration With Cyprus, Irish Ambassador Told CNA

Ireland wants to identify higher education projects that will make a significant difference for both Ireland and Cyprus, Irish ambassador in Cyprus Conor Long told CNA on Wednesday. Ambassador Long was speaking on the sidelines of a presentation by Trinity College Dublin representatives in Nicosia to the local private school community regarding higher education opportunities for Cypriot students at Ireland’s most prestigious institution. According to the Irish ambassador, there has been a clear disruption after Brexit to the traditional pathway Read More

Cyprus Airways posts massive increase in annual passenger traffic

Cyprus Airways says that summer ’23 bookings are looking strong Cyprus Airways on Thursday released a report detailing passenger traffic results for the entirety of 2022, as well as the monthly results for the final month of the previous year. In 2022, the Cypriot airline increased its annual traffic by a whopping 361 per cent over the previous year. In addition, the airline’s average seat load factor during the year rose by 12 per cent, primarily attributed to its excellent Read More

Cyprus residential property prices unlikely to fall any time soon

Cypriot fintech Ask WiRE CEO Pavlos Loizou, in an analysis piece examining the landscape of the domestic real estate market in the coming year, explained that residential property prices will most likely remain steady from the previous year, bolstered by elevated demand and a resilient economy. Loizou recapped some of the global events that have a bearing on prices, including the European and Cypriot economies, who, at the end of 2021, experienced a gradual recovery following the Covid-19 pandemic and Read More

Tourism marketing reaches more than one billion phones a year

Internet searches for Cyprus have increased by 30 per cent compared to 2019 thanks to targeted digital marketing carried out by mainly local companies, Deputy Tourism Minister Savvas Perdios said on Wednesday. Digital campaigns reach over a billion phones a year, the deputy minister said in his address to the ACCTA travel agents association’s conference Digi.travel – The Cyprus International digital tourism conference and Expo 2023 at the University of Nicosia.       Continue reading at source:  Cyprus Read More

Electric vehicle subsidy scheme receives over 500 applications in five hours

Over 500 applications were made in just five hours for the second phase of the electric vehicle subsidy programme. Applicants rushed to www.ev.gov.cy on Monday at 11am when the new programme launched, although anyone who is interested has until March 9 to register – as no priority is given based on when the application was submitted. The transport minister said last month that should there be more applications than grants available then these will be decided through a draw. Read More

Cyprus Business Now

Consulting, assurance, and tax advisory firm EY Cyprus has released the latest edition of its Cyprus Tax Facts guide, which takes into account the most up-to-date legislative changes for 2023. “As a result of greatly accelerating the pace of new tax legislation, there is an increased risk that taxpayers will be caught unprepared, making a current, detailed guide on Cyprus’ Tax and Legal code all the more valuable,” the company said. “Changes in 2022 included the introduction of Cyprus’ Recovery and Read More

Cyprus among top ten destinations for British tourists for 2023

Britain’s Travel Association, formerly known as the Association of British Travel Agents (ABTA), recently released its ‘top 23 for 23’ list, detailing the 23 most popular destinations people say they plan to visit this year, with Cyprus featuring among the top ten countries included in this list. “Staying closer to home seems to be the preference for most people, with a large proportion of the list being short to mid-haul destinations such as Spain, Turkey and the UAE, but destinations Read More

Senvest Increases Stake In Bank Of Cyprus

The Senvest Group investment fund further strengthens its position in Bank of Cyprus, increasing its total stake to over 8%. Specifically, through the purchase of shares in the past few days, the Senvest Group –the third largest shareholder of Bank of Cyprus – increased its stake in the Bank's share capital from 7.11% to 8.06%.   Continue reading at source:  Gold Read More

Trendsetter company buys Cyprus’ most expensive property

he most expensive piece of real estate in Cyprus is off the market, following news that a global trading platform will buy the stunning beachfront property after a decade-long presence on the island. According to social media, the Santa Barbara Residence on the eastern outskirts of Limassol has been sold to Exness Group, a fintech company that moved to Cyprus in 2012. The eye-catching villa, 3000 square meters of pride in the Amathus borough, sits right in front of a Read More

Road tax renewals start on Wednesday

Road tax for 2022 can be renewed as of Wednesday, the road transport department has announced. Road circulation permits can be renewed for a period of three, six, nine and 12 months, until midnight on Saturday, March 11.   Late renewals submitted after the March deadline, will be subject to a €10 euro fine plus an additional 10 per cent of the value of the road permit for the current year.       Continue reading at source:  Cyprus Read More

Cyprus and India to sign memoranda of understanding

Cyprus and India will sign bilateral memoranda of understanding and agreements in the fields of military cooperation, energy, and immigration, as part of a visit by the Indian Foreign Minister Subrahmanyam Jaishankar to Cyprus, scheduled from December 29 to 31. “This is a very important visit for us. India is a crucial member of the Commonwealth, and we are joined by parallel historical paths, as well as strong ties,” the foreign ministry spokesperson Demetris Demetriou said on Tuesday.     Read More

New Gas Discovery In Cyprus’s Offshore Block 6

TotalEnergies and Eni have made a new gas discovery at the Zeus-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 and the Cronos-1 discoveries made on the same block respectively in 2018 and August 2022. The Zeus-1 well encountered 105 meters of net gas pay in carbonate reservoirs that re-enforces the promising outlook for the area and its development. Located 162km off the Cyprus coast and 5 km West of Cronos-1, Zeus-1 has been safely drilled and Read More

Hellenic Bank Expects Pre-Tax Profits To Exceed €200mn in 2023

Hellenic Bank Public Company Ltd announces the approval of its strategic plan, wihch has as main strategic pillars growth, asset quality, cost rationalisation, and capital and funding optimisation. The plan addresses structural challenges for driving the Bank forward as a leading player in the local market. Enabled by an increased focus on digitalisation, it includes initiatives to:   Continue reading at source:  Gold Read More

Bi-communal technical committees get further EU funding

The European Commission signed a new agreement with the United Nations to continue support for the bi-communal technical committees with an additional €1 million. The European Commission representation in Cyprus said the support mechanism was launched in 2019 to support and enable the technical committees’ efforts to adopt island-wide and intercommunal solutions for issues of common concern for the communities. The committees were established by the two leaders in Cyprus under the auspices of the United Nations.   Continue reading Read More

Regional drinks giant relocates to Cyprus

Kassatly Group Holding, a major player in the regional beverage sector, said that it will move to the island by the end of next year Lebanese drinks giant Kassatly Group Holding on Monday announced that it has started work on a new plant in Cyprus, as part of ambitious plans to move the brand from a regional powerhouse to a global player. According to the company, the mega plant in Ypsonas, Limassol, which will operate under the company’s local entity Read More

Hellenic Bank upgraded by agency, leaner structure praised

Capital Intelligence Ratings (CI Ratings) this week announced that it has upgraded the Long-Term Foreign Currency Rating (LT FCR) of Hellenic Bank (HB) to ‘BB’ from ‘BB-‘ and affirmed the Short-Term Foreign Currency Rating (ST FCR) at ‘B’. At the same time, CI Ratings has raised Hellenic Bank’s Bank Standalone Rating (BSR) to ‘bb’ from ‘bb-‘. In addition, the Outlook for the LT FCR and BSR have been revised to Stable from Positive, while the agency also noted that the Read More

Cyprus research and innovation initiative secures EU funding

Another successful initiative in the European research and innovation space for Cyprus, with the PHAETHON proposal securing the highest score in the EU for the creation of a Centre of Excellence in the field of Green and Sustainable Energy. Cyprus has been successful in participating in the competitive programme of the European Union (EU) for Research and Innovation (R&I), “Horizon Europe”, specifically in the context of the programme “Teaming for Excellence”, where the PHAETHON proposal with the University of Cyprus Read More

Cyprus Airways Unveils Ambitious Growth Plans

Cyprus Airways unveiled its five-year strategic plan, announcing the expansion of its flight schedule to five new routes: Milan, Zurich, Prague, Basel, and Cairo. The Minister of Transport Yiannis Karousos, Deputy Minister for Tourism Savvas Perdios, and Hermes Airport CEO Eleni Kalogirou welcomed the new strategic plan. Cyprus Airways CEO Paul Sies unveiled the company's new plans during a press conference on Wednesday, December 14, and noted it aims to operate in 18 destinations in 2023 and to expand to Read More

TUS Airways announce route expansion

TUS Airways announced new routes for 2023. According to a press release, from March 27, 2023, TUS will enhance its Larnaca-Paris route, adding three weekly flights. Furthermore, it will add a third service between Larnaca-Heraklion each Sunday, starting March 26, 2023.   Continue reading at source:  Read More

Cyprus Business Now

Government employment in Cyprus experienced a 1 per cent increase year-on-year in November 2022, according to a report released on Monday by the Cyprus Statistical Service (Cystat). The increase has been primarily attributed to an increase in temporary staff, especially in public education employees.   According to the report, government employment in November 2022 increased by 519 people, a rise of 1 per cent compared to the corresponding month of 2021, and reached 53,537 people.       Continue reading at Read More

Inauguration Of The Largest Data Center In Cyprus - Simplex LCA1

Simplex, the pioneer of the data center industry in Cyprus, is organizing the official opening of its new world-class facility, LCA1. The inauguration ceremony will take place on Wednesday, 14th December 2022 at 18:30 pm. Simplex was established in 2005 and has been operating its first data center, LIM1, in Limassol since 2007. It is Cyprus’ leading provider of world-class premium carrier-neutral data center services and a leading enterprise IT integrator, certified partner of global technology vendors. All services of the company are certified Read More

Fitch Upgrades Bank of Cyprus to 'B+'

Fitch Ratings has upgraded Bank of Cyprus (BoC) long-term issuer default rating (IDR) to 'B+' from 'B-' and viability rating (VR) to 'b+' from 'b-' – the outlook on the long-term IDR is positive. The two-notch upgrade reflects the execution of the sale of €0.6 billion non-performing exposures (NPEs) and €0.1 billion foreclosed real-estate assets. The sale (project Helix 3) together with the organic reduction of impaired assets, has improved BoC's asset quality, resulting in a significant decline Read More

Cyprus's prominent position in shipping reconfirmed

Cyprus's prominent position in the global shipping map is reconfirmed by the United Nations report entitled "Review of Maritime Transport 2022," with the island at the top end in the relevant rankings. The United Nations, in arriving at its findings, accounts for the impact of the coronavirus pandemic on the supply chain and the turmoil created by the Russian invasion of Ukraine. According to the report, Cyprus is close to the top ten countries in the global ranking, ranking 11th Read More

Euromed Tech Hub to be established in Cyprus

The creation of the Euromed Tech Hub in Cyprus was unanimously decided last week by the Board of Directors of ANIMA Investment Network, a press release by Invest Cyprus said. The development constitutes a significant success for Cyprus, as the Euromed Tech Hub will function as a regional centre for research and cooperation, concerning issues of business innovation, and the transfer of technological knowledge for the participants from the wider region of Eastern Europe, the Middle East, and Africa.   Read More

Cyprus President To Attend The EU-Western Balkans Summit In Tirana

Cyprus' President Nicos Anastasiades is in Tirana from Athens to participate in the EU-Western Balkans Summit which takes place on December 5 and 6. In the framework of the Summit, he is to hold a meeting with President of the Presidential Council of Bosnia and Herzegovina, Željka Cvijanović, according to a statement released on Saturday by Director of the Press Office of the President of the Republic, Andreas Iosif.   Continue reading at source:  Gold Read More

International tech firms in Cyprus increase by half, impact reaches €3 bln

National investment agency Invest Cyprus held its annual general meeting on Wednesday, with Finance Minister Constantinos Petrides in attendance, cementing the positive relationship between the government and the organisation. The key point that emerged during the meeting was the value of Cyprus as an investment destination is now self-evident, proven by the country’s ability to attract foreign talent, international organisations and companies, as well as the ability to bring in direct foreign investment.   Invest Cyprus said that the meeting Read More

Как перевезти питомца из России на Кипр

Перевезти любимую собаку или кошку на остров Афродиты проще, чем думают многие. Какие нужны документы и как подготовить четвероногого друга к перелету, расскажем в этой статье: пройдемся по пунктам чек-листа. Прежде всего стоит убедиться, что ваше животное можно ввозить на Кипр – и у нас уже есть материал о том, каких питомцев привозить запрещено. Официальные источники информации, которые нужно изучить:• инструкция Россельхознадзора;• требования на сайте Министерства сельского хозяйства Кипра;• правила перевоза животных авиакомпании, которой вы собираетесь лететь (например, Cyprus Airways или Utair).   Продолжить чтение в Read More

Equiti Opens Its Latest Office In Limassol

Equiti has announced the opening of its latest regulated office in Europe in Limassol. Speaking at the official office opening event, Mohamed Alahmad, Co-founder and Chief Managing Director of Equiti Group, said: “Equiti’s new office in Limassol is a major milestone for the Group and a significant part of our global growth strategy. “We are thrilled to now have a regulated operation in Cyprus to provide our global business-to-business (B2B) offering to brokers in Europe under the strict oversight of Read More

AdTech Open Hackathon with a focus on improving life in Cyprus and technological advancement

The HackAdTech Open Hackathon, dedicated to solving AdTech and MarTech challenges, with an emphasis on improving life on the island will open its doors on November 26. The two-day event plans to gather the brightest minds of the industry, to solve important issues of the two emerging industries. “This is yet another project we launch to support the ease of life and technological advancement of Cyprus, seen as an innovation and new tech hub. At the same time allowing us Read More

Paphos Named European Capital For Smart Tourism 2023

The city of Paphos was officially named the European Capital of Smart Tourism for 2023, according to its Mayor Phedon Phedonos. In a post on social media, the Mayor said that the result of the EU competition was announced Wednesday in Brussels, where a Paphos Municipality delegation presented its proposal for the title of European Capital of Smart Tourism 2023.   Continue reading at source:  Gold Read More

Cyprus Airways announces direct flights to Paris, Rome

Cyprus Airways will start operating direct flights from Larnaca to Paris and Rome, the airline announced on Tuesday. Speaking from Cyprus’ pavilion at the World Travel Market event in London, the company’s CEO Paul Sies said that the flights to Paris will start on December 16, while the route to Rome is scheduled to start on December 20. “We have had a lot of work in the past months, last summer was very good and now we are looking towards Read More

Cyprus Business Now

The Cyprus Investment Funds Association (CIFA) this week announced that Cyprus has been chosen to host the 36th iteration of the International Investment Funds Association (IIFA) conference, something which the association described as a “major success and vote of confidence for Cyprus”. CIFA said that Cyprus received the nod to host the 2023 conference from IIFA’s members during this year’s iteration of the event which took place in London on October 24. “CIFA’s contribution was decisive for the voting process’ positive Read More

2027 realistic date for exploiting Aphrodite gas reserves says minister

A realistic scenario for when Cyprus can produce natural gas from the Aphrodite gas field is 2027, Energy Minister Natasa Pilides told MPs at the House finance committee on Friday. Construction of the necessary infrastructure must be carried out as soon as possible and if Cyprus wishes to supply the EU with natural gas, this must be done by 2030 or else the opportunity will be lost, she added. Presenting her ministry’s budget, she said discussions with Aphrodite’s licenced consortium Read More

Anastasiades: Cyprus Becoming Established As Regional Educational, Research And Excellence Centre

Efforts to establish Cyprus as a regional educational, research and excellence centre are bearing fruit, Cyprus President Nicos Anastasiades said on Thursday evening. Addressing a gala dinner at the Presidential Palace on the occasion of the 10th anniversary of the International Multithematic Bio-Medical Congress "Biomedical Scientific Cyprus", President Anastasiades said that the fact that this conference takes place for the 10th consecutive year, "with the participation of renowned doctors and scientists from all over the World, manifests that it has Read More

Bank of Cyprus: Express loans up to €15,000 via smartphone

Bank of Cyprus now provides an express loans service which basically allows one to submit a loan application for amounts up to €15,000 with his/her smartphone. The minimum quick loan amount to be requested is €500 with interest rates being the same as those provided in stores without personal guarantees or other collateral.   Continue reading at source:  Read More

Global Finance Awards| Eurobank: «Best Private Bank 2023» in Cyprus and Greece

Eurobank was named «Best Private Bank 2023», in Cyprus and Greece. This is an important distinction awarded by the internationally renowned American Global Finance magazine, that proves the Bank's consistently high standard Private Banking services in the Cypriot and Greek markets. Eurobank has received this top distinction for the fourth (4th) consecutive year for its Private Banking services in Cyprus. It also won this award for the eighth (8th) consecutive time in the Greek market, being constantly a winner since Read More

Man cycles perimeter of island for thyroid cancer

A 24-year-old cycled around the entire island in just one day over the weekend to raise funds for thyroid cancer. The incredible feat, accomplished by Alexandros Agrotis, began from Deryneia on Saturday afternoon, where he began a journey through the state-controlled areas through the night.   Speaking to the Cyprus Mail, Agrotis, who rides for UCI WorldTeam Israel – Premier Tech and Israel Cycling Academy Continental Team, said that around dawn he reached the Limnitis checkpoint and crossed to the Read More

Some 10,000 beds in Cyprus officially registered for short-term rent

Some 10,000 beds are now registered by landlords who want to rent out their property in Cyprus for short-term rent on the popular platform of Airbnb. The deadline for the required registration in the Register of Self-Service Accommodation Establishments of the Deputy Ministry of Tourism, expires on February 7, 2023, Philenews reported on Monday.   Continue reading at source:  Cyprus Read More

Cyprus Business Now

Hellenic Bank on Thursday announced a number of changes to its banking services, aiming to empower its meeter greeter service, which in turn will help customers become more comfortable with using alternative banking channels. At the same time, from December 15, 2022, changes will be made to the way certain services can be carried out in-store.   According to the bank, cash deposits and withdrawals for amounts less than €500 will be made exclusively at ATMs, while deposits from third parties Read More

An impressive lineup of speakers at EY’s Cyprus Attractiveness Forum: Investment Realized 2022

EY has announced the agenda and participants at the Cyprus Attractiveness Forum: Investment Realized 2022, to be held on 25 October 2022. The event, organised in collaboration with the Cyprus Chamber of Commerce and Industry and the support of Invest Cyprus, will provide the opportunity to government officials, top-level executives and local industry experts to discuss and analyse the findings of the 2nd Attractiveness Survey Cyprus and the future of investment and business in Cyprus. The survey launched in Cyprus Read More

Cyprus Business Now

The number of trips abroad made by residents of Cyprus in September 2022 was almost twice as much as last year, according to a report released this week by the Cyprus Statistical Service (Cystat). As reported by the services, foreign trips in September 2022 amounted to 122,450, compared to 66,452 in September 2021, marking an increase of 84.3 per cent year-on-year.   The main countries from which Cypriots returned in September 2022 were Greece with 37.1 per cent, the Read More

Royal Caribbean's Odyssey of the Seas Makes Call at DP World Limassol Cruise Terminal

DP World Limassol welcomed Royal Caribbean’s Odyssey of the Seas on her stopover to DP World Limassol Cruise Terminal with passengers on board, on Thursday 13th October 2022.  On the occasion of the cruise ship’s call to Cyprus, DP World Limassol’s Commercial Manager Mr Lazaros Charalambous, and Hull Blyth Araouzos Managing Director exchanged plaques with the cruise ship’s staff captain. Odyssey of the Seas had sailed from Italy on 7th October and arrived at DP World Limassol Cruise Terminal Read More

BWA Yachting Opens New Office In Cyprus

BWA Yachting have announced that they are opening a new office in Cyprus. Their services include shore assistance, port operations, provisioning and supplies, logistics solutions, and hospitality and events management. The news comes just a few weeks after the announcement of new offices in Egypt, the Suez Canal, and the Red Sea. The reason for BWA Yachting adding this new Cyprus office to their map is to create an even smoother cross-Mediterranean yachting experience for their clients. The island is Read More

UK couple honoured for visiting Ayia Napa more than 50 times

Ayia Napa municipality declared a British couple who visited the town over 50 times, as “Ambassadors of Ayia Napa Tourism.” Darren and Deborah Jones were honoured in a ceremony on Monday, during which Ayia Napa Mayor Christos Zannettou awarded them with a commemorative plaque.   Continue reading at source: Read More

Efforts to revive Makarios Avenue in Nicosia

Efforts are taking place to revive Makarios Avenue, the once most-visited street in the capital. According to the initial planning, part of the Avenue between the crossing with Spyros Kyprianou and Digeni Akrita Avenue until the junction with Omirou Avenue was to be used only by pedestrians and buses.   Continue reading at source: Read More

House Prices Up In Q2 2022, Cyprus Central Bank Says

An acceleration in the increase of house prices was recorded in the second quarter of 2022, mainly due to increased construction costs, the Central Bank of Cyprus says, in its quarterly report on the residential property price indices for Cyprus, drafted by the Central Bank of Cyprus’s Real Estate Unit (REU). The Central Bank of Cyprus (CBC) House Price Index (CPI) for houses and apartments, showed an increase in the second quarter of 2022, registering a quarterly increase of 1. Read More

Agia Napa Marina awarded Blue Flag in first months of operation

This summer Cyprus received a record number of blue flags with 74 beaches and two marinas on the island being awarded. The island’s beaches have each their own characteristics regarding the colour of the sand and of the water, marine life, organised facilities, the sea sports provided, as well as how popular or isolated they are.   Continue reading at source:  Read More

Cyprus sees increased interest in digital nomad visas

Interior Minister Nicos Nouris on Thursday said that the government’s adoption of a new strategy designed to attract international businesses to Cyprus has led to significantly increased interest from a number of such organisations. Nouris noted that the government received 5,475 application submissions throughout 2021, while this number has been far exceeded this year, with 7,883 applications being submitted as of August 2022.   Continue reading at source: Cyprus Read More

RecruitGiant Expands Into Cyprus

RecruitGiant, one of Malta's leading recruiters of Third Country National (TCN) employees, is continuing its expansion across Europe with the setting up of a new company in Cyprus, as reported by the Malta Independent Online. According to the media report, the new venture, which complements RecruitGiant's existing activities in the Baltics, Eastern Europe and France, will be led by Indre Miliauskaite. Miliauskaite is described as a specialist in TCN recruitment and training who has been Head of Human Resources at Read More

More foreign companies wishing to relocate to Cyprus, Interior Minister says

The adoption of a new strategy to attract businesses to the country has led to an “impressive increase of interest” from foreign companies to relocate to Cyprus, Interior Minister Nicos Nouris said on Thursday. He added that in 2021, 5,475 applications were submitted, while until the end of August 2022, there have been already 7,883 applications. Nouris, who was the keynote speaker at the VIII Best Legal Conference in Limassol, said that he was confident that the government’s initiatives and Read More

Cyprus Business Now

Cypriot company Point Nine this week announced that its third annual conference was successfully held at the Four Seasons Hotel in Limassol on Friday, September 16, attracting a number of stakeholders from the international regulatory compliance sector. “The conference was a pole of attraction for dozens of business executives from Cyprus and abroad, while the presence of executives from Cypriot banking organisations and financial service providers was strong,” the company said in a statement.       Contnue reading at source: Read More

Ayia Napa marina welcomes first large cruise ship

Transport Minister Yiannis Karousos said on Tuesday welcomed the arrival of the first large cruise ship, the Rhapsody of the Seas, to Ayia Napa Marina. The Rhapsody of the Seas, one of Royal Caribbean Cruises largest ships, docked in the marina around 6am on Tuesday, having left from Haifa, Israel. The ship, which has a capacity to hold 3,000 passengers and staff, will next move on to Rhodes, Greece.       Continue reading at source: Cyprus Read More

Hellenic Bank posts €55.4 mln half-year profit, new lending surpasses €500 mln

Hellenic Bank on Tuesday released its financial results for the first half of 2022, posting a profit of €55.4 million, compared to a profit of €21 million in the corresponding period of 2021. The uptick in profitability is primarily attributed to improved income performance, continuous cost management efforts, as well as the reversal of certain impairment losses, to the tune of €11.2 million.   In addition, the bank recorded a net interest income of €133 million during this Read More

Cyprus Seeds Welcomes A New Donor, Mohari Hospitality

Mohariy Hospitality (Mohari) has recently become one of the new donors of the not-for-profit organization Cyprus Seeds. Cyprus Seeds will utilize the donation of €100.000 to support the academic teams joining the 3rd funding cycle. Founded in 2017 by the entrepreneurial investor, Mark Scheinberg, Mohari Hospitality is a global investment company that focuses on the luxury hospitality sector. Mohari is committed to identifying and contributing to philanthropic projects in each area where it does business and is actively supporting Read More

Larnaca shortlisted for green tourism award

Larnaca has been shortlisted as a European Destination of Excellence (Eden) in an EU initiative aimed at rewarding the best achievements in sustainable tourism and green transition practices in smaller destinations across Europe. Along with Larnaca, Grevena and Trikala in Greece, and Kranj in Slovenia were also shortlisted.       Continue reading at source: Cyprus Read More

Cabinet receives foreign direct investment bill

A bill designed to enshrine into national law a European Union directive for the screening of foreign direct investment (FDI) was submitted to the Cabinet of Ministers this week. The original framework was adopted in March 2019 and first came into effect in October 2020, with most European Union countries having either implemented the framework themselves or are currently in the final stages of doing so. According to the Cyprus News Agency (CNA), the bill describes the conditions under which Read More

Larnaca’s Finikoudes promenade to get a modern new ‘face’

Three decades after its rejuvenation, Larnaca’s historic Finikoudes promenade is set to get a modern new ‘face’, Philenews reported on Thursday. An ambitious plan is now under draft by the Municipality aiming to match the impressive project the strategic investor currently now carries out in the port and marina of Larnaca.   Continue reading at source: Read More

Global Software Development Company DataArt To Open Shop In Cyprus

DataArt, a US-based software development company, is set to launch new offices in Cyprus. Headquartered in New York City, with more than 6000 employees worldwide, DataArt is currently onboarding more than 50 employees to a new location in Nicosia and plans to hire more tech professionals from the local talent pool. George Campanellas, Chief Executive of Invest Cyprus, the country’s investment promotion agency, said that, “It is a great pleasure to welcome DataArt, a proven leader in the field of Read More

Fast-tracking of building permits a success, says Nouris

The fast-track licensing – town planning and building permits – has proven immensely successful and there will now be an overhaul for larger projects too, Interior Minister Nicos Nouris said on Monday. He said that bureaucracy has been slashed and that the new phase of the programme will greatly boost the economy and will also address the need for more housing. “We are ending the inconvenience for citizens and professionals by turning the page on licensing,” Nouris said at a Read More

Interest from the EU in Cyprus gas says minister

Efforts are underway to develop Cyprus’ natural gas as there is interest from both the EU and the private sector, Energy Minister Natasa Pilides said on Monday. Speaking on CyBC radio, she said the second round of exploratory drilling in block six is crucial, adding that the works there are set to be completed in November.   Initial results by Eni/TotalEnergies in August uncovered a ‘significant’ gas discovery in the Cronos-1 well located about 160 kilometres off the coast of Read More

Wizz Air announces expansion, new routes to Larnaca

Hungary’s Wizz Air announced an expansion of its operations on Thursday. The carrier will operate additional flights to Athens, Prague and Larnaca whilst increasing frequencies on over 30 existing routes, including London, Rome, Milan, Barcelona, Paris, Brussels-Charleroi, Dortmund, Eindhoven, Madrid and Tel Aviv, it said. It will also add new routes to Athens, Prague and Larnaca, set to launch on December 2nd.   Continue reading at source: Read More

President Of The European Parliament Metsola On Official Visit To Cyprus

The President of the European Parliament, Roberta Metsola, arrives in Cyprus for an official visit on Thursday, following an invitation by Cyprus President, Nicos Anastasiades. On Friday she will, among other activities, hold meetings with Anastasiades and the President of the House of Representatives, Annita Demetriou, and will address the House plenary. Demetriou will welcome Metsola in Larnaca on Thursday. According to a Parliament press release, on Friday 9 September, the President of the European Parliament will have a meeting Read More

European parliament president on official visit

European parliament president Roberta Metsola arrives in Cyprus on Thursday to discuss the latest gas find in the island’s exclusive economic zone (EEZ) among other issues. Her packed schedule includes meeting President Nicos Anastasiades and addressing parliament.   Metsola will be welcomed at Larnaca airport on Thursday evening by the House president Annita Demetriou.       Continue reading at source: Cyprus Read More

Online Travel Agencies Did Not Significantly Affect Hotel Competition According To Study Including Cyprus

The European Commission published the results of an external market study on the distribution practices of hotels in the European Union, which focused on a representative sample of six Member States (Austria, Belgium, Cyprus, Poland, Spain and Sweden). The market study was conducted in 2021 and covers the period between 2017 and 2021 and aimed to establish whether hotels' distribution practices differ between Member States, as well as to follow up on a similar monitoring exercise carried out by the Read More

CySEC monitoring BoC takeover offers, Senvest increases share percentage

Cyprus Securities and Exchange Commission (CySEC) chairman George Theocharides on Thursday said that the commission is closely monitoring the non-binding takeover offers submitted by private equity firm Lone Star for the Bank of Cyprus. The commission is also in consultation with both the Bank of Cyprus and the corresponding supervisory authority in Ireland, the Irish Takeover Panel. “The Cyprus Securities and Exchange Commission is closely monitoring the matter and whether the provisions of the relevant takeover law are being observed,” Read More

First Palestinian Tourists Visit Cyprus Arriving Directly From Israel’s Ramon International Airport

For the first time, Palestinian tourists landed on Monday 22/8 at Larnaka International Airport on a flight of the Israeli private carrier, Arkia, which flew directly to Cyprus departing from Ramon International Airport, in southern Israel. This is the first tourist flight for Palestinian tourists, holders of Palestinian Authority passports, departing from Ramon Airport, in accordance with the new package of confidence-building measures between Israel and the Palestinian Authority, which were agreed during US President Joe Biden’s official visit to Read More

Revolut to create new crypto hub in Cyprus, praises CySEC

Revolut, a British financial technology company (fintech) that specialises in digital banking, this week received approval from the Cyprus Securities and Exchange Commission (CySEC) to offer cryptocurrency and digital asset services. The company explained that “this move will enable it to transform into a new European cryptocurrency hub, allowing it to provide additional crypto asset services to its 17 million European customers”.   Continue reading at source: Cyprus Read More

Bank of Cyprus named ‘Best Bank’ in Cyprus

The Bank of Cyprus on Tuesday announced that it has been named as the ‘Best Bank’ in Cyprus for 2022 by finance magazine Euromoney. The bank said that the accolade comes at an especially difficult juncture for the world economy and the financial system. “The award is important as it recognises the Bank’s drive to reduce NPLs and its return to profitability,” the bank said.       Continue reading at source: Cyprus Read More

Global Construction Consultancy DG Jones & Partners Moves Headquarters To Cyprus

DG Jones & Partners, the world-renowned international construction consultancy with a dynamic 60-year presence in at least 70 countries, is planning to move its headquarters to Cyprus. Joseph S. Psaroulla, Chairman of DG Jones & Partners, told InBusiness TV how he sees the island acting as a bridge between Europe, Africa and the Middle East and noted that the human capital of Cyprus can also be used in this respect.   Continue reading at source: Gold Read More

Cyprus Business Now

PwC Cyprus on Monday said that its specialised seminar on headquartering, titled ‘Headquartering in Cyprus: The why and the how’, attracted a great deal of interest. The seminar, which took place on July 28, involved presentations and analyses from numerous PwC Cyprus members of staff. “Indeed, hundreds of executives from international companies who have settled in Cyprus or are considering this possibility attended the in-depth, analytical presentations by the PwC Cyprus executives, which focused on the main issues that international companies Read More

В НАЧАЛЕ АВГУСТА ПЛАНИРУЕТСЯ ОТКРЫТИЕ МАРШРУТА МОСКВА — ЛАРНАКА ЧЕРЕЗ ЕРЕВАН

Как сообщает портал Brief, Cyprus Airways совместно с «Аэрофлотом» запускает рейс Москва — Ларнака. Полеты будут осуществляться с 3 августа по 29 октября пять раз в неделю с трехчасовой стыковкой в Ереване. Туроператором на этом направлении является «Библио-Глобус», который будет включать авиабилеты в турпакеты на Кипр. РАСПИСАНИЕ МАРШРУТА (ВРЕМЯ МЕСТНОЕ)   Продолжить чтение в источнике: evropakipr Read More

Cyta Participates In The East Med Corridor Submarine Cable System

Cyta participates in the East Med Corridor (EMC) submarine cable system, following an agreement signed on Tuesday, July 26, in Athens. In a press release, Cyta said that the East Med Corridor (EMC) submarine cable system is "a project of geostrategic importance, with transnational support, which exploits the geographical position of Cyprus, Greece and Saudi Arabia for creating an international digital highway that is essential for the global economy." "Starting in Singapore, the EMC will pass through Saudi Arabia, Read More

Cyprus Business Now

Startups4Peace (Su4P), an EU-funded innovative entrepreneurship project backed by the Finnish embassy, announced on Monday the launch of its programme for 2022. The programme is delivered in partnership with the CYENS Centre of Excellence, the Cyprus Chamber of Commerce and Industry (Keve), as well as the Turkish Cypriot Chamber of Commerce. “The programme aims to encourage innovative entrepreneurs with new business ideas and intercommunal vision in Cyprus to come together, work in partnership and develop closer contacts between Greek Cypriot Read More

Software Provider TangoMe Moves To Cyprus

Invest Cyprus, the investment promotion agency of the Government of Cyprus, has welcomed a decision by TangoMe, a leading US consumer services and applications software provider, to launch offices in Cyprus. The internationally renowned tech company, originally founded in Mountain View, California in 2009, has announced plans to establish a presence in Limassol, with a sizeable number of employees relocating to Cyprus. TangoMe Inc., which raised funding of USD300m and has an estimated annual revenue of USD350m a year, Read More

House approves proposal for free entrance to 12 museums

The House of Representatives approved a proposal for the free entrance to 12 museums and for the holding of wedding ceremonies and other events at nine sites of architectural importance. Transport, Communications and Works Minister, Yiannis Karousos, has welcomed the approval of the amendments which his ministry promoted as part of its ‘Museums for All’ policy. The aim of the ‘Museums for All’ project is to increase the number of people visiting Cyprus’ museums.   Karousos said in a written Read More

European University Cyprus Opens Medical School Campus In Germany

EUC, School of Medicine will accept its first medical students at its new Frankfurt Branch in September 2022 European University Cyprus (EUC) is proud to announce the opening of the School of Medicine – Frankfurt Branch which will start operations this coming Fall.  The launch of the new campus was grounded on the increasing demand for EUC’s highly acclaimed and popular medical program and the growing need for skilled medical doctors. Augmented by EUC’s award winning state-of-the-art infrastructure and clinical simulation facilities, Read More

Piale Pasha to become ‘jewel of Larnaca’ says municipality

The Piale Pasha facelift, scheduled to begin in autumn, will make the area “a jewel for Larnaca” the city’s municipality has stated. In a meeting on Monday, Larnaca Mayor Andreas Vyra was informed of the project’s progress by Michalis Efstathiou, of the Studio Bagno and BauTech Systems Companies.   A statement issued said mayor Efstathiou, in collaboration with the Larnaca tourism development organisaton, took an active role in the process of finalising ideas, including the selection of colours for the Read More

Virtual reality market to become more competitive

All eyes will be on Apple as it launches first headset next year The virtual reality (VR) market is set to become more competitive in the coming years, with Apple providing more competition to current leaders Meta, according to a report released this week by industry analysts International Data Corporation (IDC). “All eyes will be on Apple as it launches its first headset next year, and while it is tempting to imagine the company shipping high volumes, keep in mind that this Read More

Vision-2035. Работа на опережение

Политика «зеленого» развития и отказ от ископаемого топлива будут играть первостепенную роль в долгосрочной стратегии экономического развития Кипра до 2035 года. План Vision-2035 подготовлен Советом по экономике и конкурентоспособности и представлен президенту Никосу Анастасиадису 6 июля. Мероприятие было организовано президентом совета Такисом Клиридисом. Он подчеркнул, что Vision-2035 намечает путь развития Кипра на ближайшие 15 лет. Основная цель программы – переход к новой, современной экономической модели. Большое значение в документе придается роли «зеленых» технологий и цифровизации. Второй важный блок – модернизация Read More

Make Your House «Greener» With Hellenic Bank

Hellenic Bank leads the green transition and growth sector, by expanding its range of green lending products and introducing "Green Home”, its latest financing product. Hellenic Bank is the first to offer its customers the opportunity to enjoy a discounted housing interest rate, by reducing their environmental footprint, not only when acquiring or building a new home, but also by renovating / upgrading the energy efficiency of their existing one.   Continue reading at source: Gold Read More

Cyprus Business Now

The amount of total deposits in the Cypriot banking system decreased in May, but still represented nearly double the amount of loans, according to a report released by the Central Bank of Cyprus (CBC) this week. Total deposits in May 2022 recorded a net decrease (excluding changes resulting from reclassifications, exchange rate and other adjustments) of €166.9 million.   It had recorded a net increase of €146.5 million at the end of the previous month.       Continue Read More

Tourism organisation praises value of audiovisual tourism

Earlier this month, the World Tourism Organisation (WTO) showcased a number of initiatives in audiovisual tourism at the Conecta Fiction & Entertainment conference which took place in Spain last week The conference sought to highlight the value of high-quality audiovisual productions in the tourism sector and stimulate investment in this area.   “Tourism and the audiovisual industry have a natural link,” WTO executive director of affiliate members Ion Vilcu proclaimed.       Continue reading at source: Cyprus Read More

Cashback service in Cyprus becoming more and more popular

Cypriot consumers seem to be embracing the fledgling cashback service where a customer pays by debit card and asks for a further amount to be charged – up to a maximum of €100. The added amount then is handed over in cash and no fee is charged. The trend is becoming more and more popular particularly in bakeries, kiosks, petrol stations and supermarkets all across Cyprus, Philenews reported on Friday.   Continue reading at source: Read More

Council recommends creation of new ministry for the environment

The Cyprus economy and competitiveness council on Wednesday recommended the establishment of a new deputy ministry for the environment and sustainability. The recommendation for the creation of a new deputy ministry was part of the council’s package of recommendations related to the green transition and energy matters.   The council said that the recommendations it has submitted “are considered as catalysts for the long-term goals and commitments of Cyprus in relation to the green transition”.       Continue reading Read More

Cabinet Approves Bill To Expand Tax Exemption For Investments In Innovation Companies

The Council of Ministers has approved a bill which amends the income tax law so that the existing tax exemption for an investment in a small and medium innovation company is extended to cover corporate investors as well. According to a press release by the Ministry of Finance, the bill is included in the commitments of the National Recovery and Resilience Plan, which aims to provide tax incentives to attract investments in the field of Research and Innovation.   Continue Read More

All set for ferry launch

Feverish preparations are underway for the much-awaited resumption of the ferry link between Cyprus and Greece, which is set to depart from Limassol to Piraeus at midday on Sunday. The last ferry link between the two countries set sail 21 years ago. Speaking to the Cyprus News Agency, the CEO of Scandro Holding Ltd, the company operating the link, Marios Michael said the ferry was already docked at Limassol port.   “We are taking care of the last, important details, Read More

InvestPro Cyprus Nicosia 2022: программа

20 июня в отеле Hilton Nicosia состоится V международная B2B конференция и выставка InvestPro Cyprus Nicosia 2022, посвященная инвестициям в сфере недвижимости. Предлагаем вашему вниманию программу мероприятия. InvestPro Cyprus Nicosia 2022 – это уникальная бизнес-платформа для встречи и общения профессионалов в международном бизнесе. Участие в конференции позволит получить актуальную информацию от ключевых игроков рынка, а также расширить свою партнерскую сеть на более чем 150 новых контактов из лидирующих компаний России, стран СНГ, ЕС, Ближнего Востока, Азии и Америки.   Продолжить чтение в Read More

Cyprus CCCI And Saudi Chambers Sign Memorandum Aiming At Strengthening Bilateral Trade Ties

Cyprus Chamber of Commerce and Industry (CCCI) and Federation of Saudi Chambers have signed a Memorandum of Cooperation and an agreement to set up a Saudi – Cyprus Business Council, aiming at strengthening and boosting bilateral trade relations. According to a press release issued by CCCI the Council will have a main purpose to open economic sectors promoting links between Saudi and Cypriot firms, exchange views and information concerning challenges and opportunities offered in their respective markets, as well as Read More

Masks No More, COVID-Related Measure Lifted From Ports And Airports

As of today, the use of protective masks in indoor and outdoor areas will not be obligatory, while all COVID-related measures will be lifted in ports and airports of the Republic of Cyprus. Members of the public will no longer be obliged to have face masks on when outside or in indoor areas, except when in high-risk places such as hospitals, outpatient clinics, medical centers, rehabilitation centers, nursing homes, other facilities where members of vulnerable groups reside and public transport. Read More

31 мая жители Земли увидят «метеорный дождь»

В последний день весны 2022 года земляне увидят редкое явление – настоящий «метеорный дождь». По словам некоторых экспертов, число метеоров может достигать нескольких тысяч в час. Длительность повышенной метеорной активности составит порядка двух часов. Его максимум, по данным расчетов, приходится на раннее утро. Как говорят ученые, нынешний «метеорный дождь» – это пыль от кометы, которая в 1995 году после максимального сближения с Солнцем начала распадаться. «Мы ожидаем, что именно с этой пылью Земля встретится в конце мая», – рассказывает лектор Read More

Warm Welcome To The First Cruise Ship Arrived At Ayia Napa's Marina

The ninety passengers of the first cruise ship in the super yacht category that arrived at the Ayia Napa's Marina on Sunday were given a warm welcome by the Ministry of Transport, Communications and Works, the Ministry of Tourism, the Municipality of Ayia Napa and the Ayia Napa Marina. In a written statement, the Minister of Transport, Communications and Works Yiannis Karoussos expressed joy and satisfaction for the reception of the first cruise ship in the Ayia Napa's Marina.   Read More

Services sector lifts economic sentiment

Economic sentiment in Cyprus experienced a slight improvement in May, according to a business and consumer survey report by the University of Cyprus released on Thursday. The Economic Sentiment Indicator (ESI-CypERC) rose by 1.1 points compared to the previous month, something which the report primarily attributes to more robust confidence in the services sector. “The increase in the Services Confidence Indicator was driven by further improvements in the assessments of past performances (in terms of both business situation and Read More

Дорожный департамент переходит на «цифру»

Министерство транспорта, коммуникаций и общественных работ приступает к полной цифровизации процедур и услуг Дорожного департамента. В этом ведомству поможет Подминистерство исследований, инноваций и цифровой политики. Отдел ИТ-услуг цифрового подминистерства заключил с Минтрансом контракт на общую сумму 7,5 млн евро. Стоимость разработки информационной системы для Дорожного департамента и приобретения компьютерного оборудования включена в план восстановления и устойчивости, дата начала проекта установлена на 1 июня 2022 года.   Продолжить чтение в Read More

Major Landmark Deal To Develop 130,000sqm Area Around Limassol Casino

The real estate industry in Cyprus is set to receive a major boost, following recent news that Israeli business tycoon Gilad Shabtai is investing in over 130,000sqm of land for development around the area of the City of Dreams Mediterranean integrated casino resort in Limassol. The majority of the specific land was acquired from “Cyprus Fasouri Plantation Holdings Ltd” member of CNS Shacolas Group. Strategically located in the emerging Zakaki area, the expansive land for development comprises the area immediately Read More

Coronavirus: Scrapping of face mask mandate under discussion

Members of the scientific team are expected in the next few days to submit recommendation regarding the use of face masks indoors and whether the measure against Covid-19 should be scrapped. Reports on Monday suggested that epidemiologists are currently split between those in favour of abolishing face masks indoors and others who believe the measure should remain in place in case of a possible new variant after the summer months.   Health Minister Michalis Hadjipantelas will then convey the epidemiologists’ Read More

Bank of Cyprus posts €21 mln first-quarter profit

The Bank of Cyprus on Thursday announced that it recorded a profit after tax of €21 million during the first quarter of 2022, €13 million higher than the corresponding period of 2021. Moreover, it also recorded a profit after tax and before non-recurring items of €27 million, reflecting a 65 per cent year-on-year increase.   The bank’s total income during this time also rose by 7 per cent year-on-year to reach €146 million.   Continue reading at source: Cyprus Read More

Cyprus Business Now

Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos announced on Friday the signing of a Memorandum of Understanding (MoU) with IDEA Innovation Centre president Charis Pouangare. The MoU involves the grant of €100,000 by the Ministry to two innovative start-ups that completed the business creation programme by IDEA, a non-profit startup incubator.   Continue reading at source: Cyprus Read More

Cypriot banks kept on positive outlook by Fitch Ratings

Fitch Ratings on Tuesday said that the ratings of the Bank of Cyprus and Hellenic Bank have been kept on Positive Outlook in spite of the escalating global economic dangers stemming from the war in Ukraine. “We still expect Hellenic Bank (HB, B/Positive) and Bank of Cyprus (BoC, B-/Positive) to progress with their planned disposals and securitisations of impaired loans, an expectation that underpins the Positive Outlooks,” the agency said.       Continue reading at source: Cyprus Read More

Спортивный туризм: недооцененные возможности

Глава Подминистерства туризма Саввас Пердиос заявил: Кипру необходимо начать активно инвестировать в спортивный туризм – сферу, которая ранее обычно оставалась на вторых ролях. Представитель ведомства выступал на конференции под названием «Развитие, устойчивость и инновации спортивного туризма на Кипре». В обсуждении темы также приняли участие глава Подминистерства туризма Греции София Захараки и президент Кипрской спортивной организации Андреас Михаилидис. Кипр меняет приоритеты «Нам надо активно инвестировать в спортивный туризм», – заметил Пердиос. В частности, он предложил обратить более пристальное внимание на такие виды Read More

Hermes Airports presents summer flying program

Hermes Airports presented the new summer flying program from and to the airports of Larnaca and Paphos, which marked the return to many and different connections from and to Cyprus. Based on the current program, the summer period seems positive and airlines are scheduling an important number of flights. Specifically, this summer, 50 airlines will carry out flights to and from the airports of Paphos and Larnaca, with 140 itineraries, including five new ones, from 95 destinations in 38 countries. Read More

Government Announces New Relaxations, As Covid-19 Situation Improves Further

The Cyprus’ government announced on Tuesday new relaxations in the measures aiming at containing the spread of Covid-19, as the epidemiological situations improves further, Minister of Health Michalis Hadjipantela has said. In statements following the Council of Ministers meeting, Hadjpantela said the Cabinet decided that, as of May 15, no Safe Pass will be necessary for entertainment venues, nightclubs, music and dance venues and receptions venues, including for wedding and baptising ceremonies, while no Safe Pass will be required for Read More

Hermes Airports presents summer flying program

Hermes Airports presented the new summer flying program from and to the airports of Larnaca and Paphos, which marked the return to many and different connections from and to Cyprus. Based on the current program, the summer period seems positive and airlines are scheduling an important number of flights. Specifically, this summer, 50 airlines will carry out flights to and from the airports of Paphos and Larnaca, with 140 itineraries, including five new ones, from 95 destinations in 38 countries. Read More

‘Huge milestone’ marked in Cyprus-UK ties

British high commissioner Stephen Lillie celebrated the “huge milestone” in Cyprus-UK ties on Monday outlining the new deal for development in the British bases. The British bases, comprising 254 square kilometers – three per cent of the island’s territory, will allow for the construction of houses, shops, schools, restaurants and light industrial facilities while third-country nationals will be able to live, operate and establish businesses in the bases.   Senior UK and bases officials spoke at the presidential palace on Read More

Кипрские застройщики выходят на британские базы

C 9 мая отменяются ограничения на строительство на территориях британских военных баз. Это стало важным изменением для жителей и владельцев недвижимости в Акротири и Декелии. В документе, опубликованном главой пресс-службы президента Андреасом Иосифом, говорится: с 9 мая 2022 года начинается действие соглашения, заключенного 15 января 2014 года. Меморандум был подписан президентом Кипра Никосом Анастасиадисом и бывшим премьер-министром Великобритании Дэвидом Кэмероном. Строительство будет разрешено на территориях за пределами военных объектов. Эта договоренность открывает значительные экономические, туристические и коммерческие перспективы для муниципалитетов и Read More

Солнце как экономический актив

3 мая в мире отмечается День Солнца. Для Кипра эту дату можно считать особенной по многим причинам. В первую очередь потому что на острове от 300 до 340 солнечных дней в году. Зимой средняя температура составляет +13-15°C, летом – +30-33°C. Климат Кипра считается одним из самых здоровых в мире. Небесное светило на службе у государства К экономике страны это имеет прямое отношение, так как благоприятные климатические условия – один из главных драйверов для развития туризма. И государство намерено использовать данный Read More

Павлос Контидис – чемпион мира

Кипрский яхтсмен Павлос Контидис выиграл золотую медаль на международном соревновании во французском городе Йер. Неофициальное название турнира – «Уимблдон парусного спорта». Контидис поблагодарил всю команду, которая стояла за его победой, и своих болельщиков, поддержавших его в этой непростой гонке. Это четвертое золото кипрского атлета на чемпионате мира и второе – на чемпионате мира в Йере. Три года шел к победе «Это была очень напряженная гонка с сильными переживаниями и слабым ветром. Позиции постоянно менялись. Я сделал правильный выбор и сумел Read More

Cyprus Business Now

The Famagusta Tourism Board (Etap) on Thursday night held an event designed to showcase the district’s tourist product to Polish tour operators. The presentation took place at the Thalassa Municipal Museum in Ayia Napa and was attended by town mayor Christos Zanetto, Etap director Lakis Avraamides and Famagusta hoteliers’ association (Pasyxe) president Doros Takkas.   The Ayia Napa mayor welcomed the tour operators and informed them of the efforts being made to further upgrade the area’s tourist offerings.       Read More

Cyprus-Greece ferry link set to start in June (Update 2)

The first ferry link between Cyprus and Greece – specifically, from Limassol to Piraeus – is to be up and running on June 19, it was announced on Friday, with the trip lasting about 30 hours. “After 21 years, our fellow citizens will be able to travel to Greece and Europe by sea, transporting their private vehicles as well,” President Nicos Anastasiades said.   He praised the development as fulfilling the goal of achieving alternative connectivity, adding that it will Read More

Cyprus takes Eastern Med regions initiative in EU cyber security

Cyprus is taking the initiative to take the lead in the Eastern Mediterranean region for the cyber security of the European Union. In fact, Cyprus acts as a bridge of communication between the Middle East and Europe in cybersecurity, according to Defence Minister Charalambos Petrides. Petrides was addressing a seminar on Wednesday called “Course on the role of the EU Cyber Ecosystem in the Global Cyber Security Stability”.   Continue reading at source: Read More

Исторический центр Ларнаки «поднимут» магазины

Муниципалитет Ларнаки, Bank of Cyprus и городская Ассоциация владельцев магазинов объявили о запуске программы по поддержке магазинов в историческом центре города. Цель проекта – создать и продвигать единую идентичность делового района, поднять его коммерческую привлекательность. Об этом шла речь на специальной пресс-конференции, посвященной этому вопросу. Мэр города Андреас Вирассторический, выступая с презентацией идеи, отметил, что торговый район Ларнаки всегда был центром коммерческой жизни, игравшим ключевую роль в местной экономике: «Торговый район Ларнаки прекрасен, он расположен в самом центре города и открывает Read More

Cyprus hopes to benefit from Estonian digital expertise

The government wants to exchange expertise with Estonia to benefit from its expertise in the implementation of digital transition projects, deputy ministry for innovation and digital policy Kyriacos Kokkinos said on Monday. He was speaking ahead of President Nicos Anastasiades’ upcoming two-day visit to Estonia on Wednesday.       Continue reading at source: Cyprus Read More

Further relaxations on Covid measures as of Good Friday and from May 15

There are no restrictions on the number of people at house gatherings over Holy Easter holidays and no SafePass requirement for outdoor venues as of Good Friday. And this is just part of further relaxations on the coronavirus measures that the Cabinet has approved amid an improved epidemiological picture.   Continue reading at source: Read More

Рейсов в Центральную Европу станет больше

Тот факт, что с 2020 года сектор туризма каждый год сталкивается с каким-нибудь кризисом, привел его в состояние повышенной готовности и заставил Кипр усерднее работать над диверсификацией своего продукта. В этом убежден глава Подминистерства туризма Саввас Пердиос. Трудности как стимул для развития Вечером 12 апреля Саввас Пердиос присутствовал на церемонии вручения премии Cyprus Tourism Awards 2021 в Лимассоле и вручил 42 награды в восьми различных категориях. «Победители показывают всем нам: что бы ни случилось, туризм всегда найдет способ выстоять, несмотря Read More

Restaurant review: Pitot, Limassol

As seemingly the last Limassol resident to have not eaten at the popular Israeli restaurant, visiting Pitot was long overdue. I did once attempt to visit Pitot but unluckily happened to swing by on a national holiday, encountering a shuttered joint. That mistake has finally been rectified. Pitot is a small place, a perpendicularly set up street food style restaurant with a row of tables in the interior, and a few tables outside. It is undoubtedly a casual experience, so Read More

Hellenic Bank completes NPL portfolio sale agreement

Hellenic Bank on Monday announced that it has entered into an agreement for both the sale of a non-performing exposures portfolio, as well as the bank’s servicing platform APS Debt Servicing, to Pacific Investment Management Company LLC (PIMCO). “This is a transformative transaction making a decisive step in dealing with the Bank’s NPEs, [since] the transaction substantially de-risks the bank’s balance sheet from NPEs, reducing the NPE ratio to a proforma 3.4 per cent,” Hellenic Bank CEO Oliver Gatzke Read More

Cyprus Business Now

The Paphos regional board of tourism (Etap) this week announced that it participated in the inaugural meeting for the U-Mar Project, in Sicily, as part of the actions of the European Union’s ERASMUS + programme. According to an announcement, the project partners met on March 30, exchanging views on their future actions and informing each other about the project and its innovative aspects.       Continue reading at source: Cyprus Read More

No Cyprus Flight Pass from April 18, other Covid rules lifted as of Monday

Cyprus will lift Covid-19 conditions for travel to the holiday island from April 18, while a number of other rules imposed by the pandemic two years ago end on Monday. Specifically, authorities are scrapping a colour-coded assessment of other countries based on epidemiological risk, an inbound flight permission to travel and PCR or rapid lateral flow tests for those who were fully vaccinated against Covid-19. However, people who have not been vaccinated, or not completed their booster shots would still need Read More

Cabinet to further relax Covid measures, Safepass presentation set to end

The Cabinet on Thursday is expected to further relax coronavirus protective measures including an end to the presentation of a SafePass at workplaces, shops, restaurants and other commercial premises smaller than 200 square meters. SafePass abolition will also apply to banks and public service departments, insiders told Philenews on Thursday.   Continue reading at source: Read More

Cyprus Business Now

Revenues from tourism in the first month of 2022 exceeded €28 million, with the rate of decline in revenue compared to the pre-pandemic era, meaning January 2020, remaining lower than the corresponding rate of decline in arrivals. According to the results of the Traveler Survey, conducted by the Cyprus Statistical Service (Cystat), revenues from tourism in January 2022 reached €28.2 million.   The same figure stood at €2.8 million in January 2021 and €40.2 million in January 2020. Read More

Cyprus Business Now

Cypriot telecommunications company Cyta on Wednesday announced the start of operations on the Arsinoe optical fibre subsea cable system. “Arsinoe strengthens the role of the organisation and, by extension, Cyprus as an ultra-modern telecommunications hub in the region,” Cyta said.   The cable system will cover Cyprus’ increased need for international connectivity in crucial areas, particularly for internet and cloud-based services.       Continue reading at source: Cyprus Read More

Cyprus President To Meet With ECB President On Wednesday

Cypriot President Nicos Anastasiades on Wednesday will meet with ECB President Christine Lagarde, who is visiting Cyprus at the invitation of the Central Bank of Cyprus Governor and ECB Governing Council member, Constantinos Herodotou. According to a written statement issued by Andreas Iosif, Director of the Press Office of the President, the visit takes place “as the Ukrainian crisis inevitably impacts the EU’s economy.”   Continue reading at source: Gold Read More

Hellenic Bank-RCB Bank loan agreement prevents stronger impact on island’s banking sector

Hellenic Bank’s announcement on Tuesday that it will acquire an up to €556m performing loan portfolio from RCB Bank Limited means a stronger impact on the island’s banking system has been prevented. The unavoidable impact was sparked from the Russian invasion in Ukraine and the prompt EU, British and US sanctions against Russian interests, Philenews reports.   Continue reading at source: Read More

TheSoul Publishing Earns Great Place to Work® Certification

TheSoul Publishing, an award-winning digital studio that produces entertaining, original, and positive content for a global audience is now the latest member of the Great Place to Work® family in Cyprus. Great Place to Work® is a global, specialist consulting firm, with a presence in 60 countries and more than 30-years experience in the assessment and research of workplace culture. It assesses around 10,000 enterprises and more than 10 million employees each year.   Continue reading at source: Gold Read More

Over 2,500 Building Permits Issued Under New Procedure, Interior Minister Says

More than 2,500 new building permits issued under the new, fast-track procedure since it was implemented in October 2021, said Cyprus Minister of Interior Nicos Nouris, addressing the 29th General Assembly of the Cyprus Association of Civil Engineers on Saturday. Nouris said in his address that, starting June 2022, the new procedure will be available for large and complex developments, adding that the Ministry’s goal is for all permits for investments valued over €25 million to be issued within 12 Read More

Government Portal To Go Live By May, Kokkinos Says

Cyprus’ government web portal (gov.cy) will be operational in April or May at the latest. It will initially provide citizens with 80 government services, Deputy Minister of Research, Innovation and Digital Police Kyriacos Kokkinos has said. “Gov.cy, the flagship product of our work, is under construction and will be operational around April or May at the latest, but this will be only the beginning,” Kokkinos said in statements following a meeting with the Cyprus Scientific and Technical Chamber Read More

Digital innovation at the spotlight of Nicosia event

The benefits of digital solutions and the resulting improvement in business competitiveness were highlighted at an event in Nicosia on Wednesday. The event was organised by IBM spinoff Kyndryl, whose Cypriot operations are based in the capital.   The company specialises in designing, creating, managing and upgrading mission-critical technology systems for both public and private sector organisations.       Continue reading at source: Gold Read More

Airline industry asks for removal of all Covid-19 restrictions

Airports Council International (ACI Europe) and the International Air Transport Association (IATA) on Monday asked for the removal of all Covid-19 travel restrictions currently in force for trips within the EU, as this would reflect the recent relaxation of measures across the bloc. This includes the abolition of all testing requirements, proof of vaccination, passenger locator form (PLF) for intra-EU and Schengen area travel, as well as the need to wear a mask on planes since it is no longer Read More

Cyprus Business Now

Cypriot company Tototheo Maritime, a leading maritime technology integrator and provider, announced on Tuesday that it has been appointed as the official distributor and service partner for marine technology manufacturer Danelec in Greece. After having first represented the Danelec brand for several years through its headquarters in Cyprus, Tototheo will now do so also through its office in Piraeus.   “Our team in Piraeus is fully prepared to handle Danelec product inquiries, service requests and support of Danelec products”, head Read More

BOCAM Wins Best Asset Management Company For 2022

Bank of Cyprus' BOCAM records another important distinction, as it is awarded as the Best Asset Management Company in Cyprus for the year 2022 (Asset Management Company of the Year Cyprus 2022). The prestigious international magazine “Global Banking & Finance Review” has awarded BOCAM in the framework of the “Global Banking & Finance Awards,” and highlights the work done in the Asset Management services (Discretionary and Advisory Management) and recognizes its high quality service delivery and staff professionalism.   Continue Read More

В Пафосе – новая пешеходная зона. В Ларнаке – обновленный стадион

Муниципалитет Пафоса обсуждает возможность сделать бульвар Посидонос пешеходной зоной. Важный аргумент в пользу этого предложения – бульвар тянется вдоль моря, и красивое, уютное место располагает к пешим прогулкам. Движение машин по проспекту в такой ситуации – дополнительный фактор опасности. Из аргументов «против» – риски уничтожения зеленых насаждений. Напомним, благоустройство проспекта Посидонос было проведено в 2007 году. На тот момент городские власти решили, что он должен закрываться для автомобилей с мая по октябрь, а в зимний сезон движение должно становиться односторонним Read More

Cyprus Business Now

Baker Tilly South East Europe chief executive officer Marios Klitou on Tuesday will receive the title of National Order for Faithful Service of the Rank of Knight by the Romanian ambassador to Cyprus Dan Michalache. The ceremony is scheduled to take place at the Romanian embassy in Nicosia.   The presentation of the award to the Cypriot executive was first announced on January 6, when Romanian President Klaus Iohannis decided to bestow the honour as a sign of appreciation for Klitou’s Read More

Coronavirus: No further relaxations necessary as advisors meet minister

No further relaxations, no increased restrictions but a fourth dose of a Covid-19 vaccine for the elderly and immunocompromised are on the cards, an expert said on Monday. A fourth shot across the wider population will be considered towards September, as much of the population’s immunity levels will have waned by then, government advisor Petros Karayiannis said.   The advisory team meets with Health Minister Michalis Hadjipantelas later on Monday amid a rise in the positivity rate and infections – Read More

Rare snowfall seen in Nicosia (updated, pictures, video)

What is set to be the coldest day of the winter began on Sunday morning with rare snowfall in many areas of Nicosia as the impact of the Philippos weather system continues to be felt.  But Met office official Iasonas Christodoulou told the Cyprus News Agency that more snow was not expected in Nicosia, falling only in areas above 500m.   Continue reading at source: Cyprus Read More

В Никосии появится новый детский медцентр

Министерство здравоохранения планирует открыть новый детский медицинский центр неврологического профиля. Здесь будут оказывать медпомощь маленьким пациентам и проводить консультации для родителей. Среди наиболее актуальных проблем, с которыми сейчас родители обращаются к профильным специалистам – синдром дефицита внимания и гиперактивности, нарушения развития речи, расстройства аутистического спектра, особенности умственного развития, моторное расстройство и другие.   Продолжить чтение в Read More

Ferreira: EU To Fund Public Administration, Renewables, Digital Finance Projects In Cyprus

The European Commission approved 225 reform projects that will be supported under the Technical Support Instrument (TSI), Commissioner for Cohesion and Reforms, Elisa Ferreira announced on Tuesday. Eight of these projects deal with reforms in Cyprus, in the areas of building renovation, digital finance, accrual accounting, financial literacy, renewable energy sources and public administration.   Continue reading at source: Gold Read More

История кипрских марок

Марки каждой страны – ценный источник информации по истории и культуре того государства, которое их выпускает. Поэтому неудивительно, что коллекционирование марок остается важным занятием для тысяч людей. Чем может Кипр порадовать филателиста?   Продолжить чтение в Read More

Открыть Кипр заново

Жители Кипра стали все чаще выбирать местные направления для своего отпуска. Показатели внутреннего туризма в стране выросли с 6-7% в допандемийное время до 10-11% в 2021 году. Об этом рассказал генеральный директор Кипрской ассоциации отельеров Филокипрос Русунидис. Он отметил, что, например, три выходных дня с 5 по 7 марта многие киприоты провели в горных районах острова. Самый популярный формат – аренда номера в отеле или домика у частного владельца. В целом же за последние два года внутренние направления для отпуска Read More

Dance world comes to life in Limassol this weekend

Preparations are underway for the 2nd Cyprus Choreography Showcase in Limassol this weekend. Organised by the Cultural Services of the Ministry of Education, and the Rialto Theatre, the Showcase brings dancers and choreographers together to celebrate the art of dance.   International personalities from the field of contemporary dance were invited to attend performances of the Showcase and possibly suggest some to participate in their own festivals, thus giving Cypriot choreographers an opportunity for international exposure.   Continue reading at Read More

С 10 марта – обновленные правила авиаперелетов

Министерство здравоохранения опубликовало новую категоризацию стран, которая вступает в силу 10 марта. Согласно решению Минздрава, «зеленая» категория была расширена – в нее добавлены Руанда и ОАЭ. Обе страны «переехали» из красной группы.   Продолжить чтение в источнике: vkcyprus     Read More

Stores without SafePass and other changes

What easing of anti-pandemic measures come into force? The new rules come into effect on March 8th. Residents infected with the coronavirus will be able to complete their self-isolation on the seventh day, and not on the tenth day. True, this rule is valid only on the condition that a person has passed a PCR or rapid test and received a negative result. This applies to all infected people who are currently in quarantine. If the test result is positive, the test Read More

Cyprus Finance Minister announces fuel tax reduction

Cyprus Finance Minister Constantinos Petrides announced on Thursday a reduction in fuel tax following a Cabinet meeting, at the Presidential Palace. “The Cabinet decided to reduce fuel tax at the maximum levels allowed by the European acquis and extend the period of  implementing a reduced VAT by 5% and 9% in power consumption”, said Petrides.   Continue reading at Read More

Restaurant review: Art Café 1900, Larnaca

A casual afternoon out for a couple of drinks can build up an appetite so, quite spontaneously, my friends and I decided to find somewhere to go and satisfy our hunger. With nowhere specific in mind, we began to wander the streets. Restaurant after restaurant turned us down, whether they actually were fully booked or, were not impressed by our casual afternoon attire on a Saturday evening is anyone’s guess. About to give up our search, I spotted a small, Read More

Утверждены новые послабления антиковидных мер

Кабинет министров принял новые послабления. Жизнь постепенно возвращается в нормальное русло. Глава Минздрава Михалис Хаджипантела заявил, что стабильное и очевидное улучшение эпидемиологической картины, сокращение числа госпитализаций, снижение количества заражений и положительных результатов тестов показали, что принятые ранее меры принесли результаты.   Продолжить чтение в Read More

Cyprus Business Now

The vice president of the European Investment Bank (EIB), Liliana Pavlova, who oversees financing operations for Cyprus, among other countries, will pay an official visit to the island on March 3, 2022, according to an announcement by the Ministry of Finance. Pavlova, who will be accompanied by a group of EIB officials, will have meetings with the Minister of Finance, the Minister of Transport, Communications and Works, the Minister of Energy, Trade and Industry, and other bodies.       Read More

Воздушный змей своими руками

Приближается Зеленый понедельник, а это значит, что жители Кипра по традиции готовятся запускать воздушных змеев. Как сделать его своими руками, если вы не хотите покупать игрушку в магазине?   Continue reading at source: vkcyprus Read More

Get to grips with a new skill at upcoming workshop

Traditional art, and even perfume gel-making workshops are taking place this week, sharing techniques, stories and fun with old and young. The artisans of the island are welcoming spring with entertaining workshops, some happening just for one day and others repeated in the months to come.   On March 5, the Bee and Embroidery Museum in Kato Drys will offer workshops focusing on the art of Lefkara Lace. At 10.30am and then again at 3pm, two-hour workshops will take Read More

Dance Did you say dance

From learning to dance in the living room to teaching Greek steps around the world, one local choreographer’s life has been dominated by dance. PAUL LAMBIS meets him   For over two decades, renowned choreographer Christos Shakallis has been teaching the Zorba dance and sharing his passion for Greek and Cypriot folkloric dances with audiences around the world. His deeply personal, and introspective work creates something memorable and powerful, raising awareness of his cultural identity through dance.   Continue reading Read More

С 3 марта в «зеленой» категории – всего две страны

С 1 марта вступили в силу новые правила для авиапассажиров, прилетающих на Кипр. Вместе с этим начинает действовать новая категоризация стран. От того, к какой категории относится конкретное государство, зависит, какие именно требования должны выполнить не привитые и не переболевшие пассажиры, равно как и те, у кого закончилось действие ковид-сертификата.   Продолжить чтение в Read More

Тропа Афродиты – где скалы встречаются с морем

На границе районов Лимассола и Пафоса, в селени Писсури, был открыт один из самых известных туристических маршрутов Кипра. Он настолько красив, что, находясь здесь, чувствуешь, будто идешь по стопам Афродиты. Он так и называется – Тропа Афродиты. Если верить истории, отраженной в мифах, богиня любила прогуливаться в этих местах. Здесь же она встретила своего возлюбленного – Адониса. Эта живописная тропа, начинающаяся от пляжа Пролимнос (собачий пляж в нескольких километрах от Петра-ту-Ромиу) и заканчивающаяся на улице 28 октября в Писсури.   Read More

Coronavirus New protocols at airports from March 1

The new Action Plan for the smooth operation of flights and the operation of airports comes into effect from Tuesday,  March 1, the Transport Ministry said. Under the new regime, the categorisation of countries, based on the epidemiological risk assessment, shall be modified to include three categories with the following colour code: Green, Red and Grey Category.   Continue reading at Read More

Как настроить себя на Великий пост

Часто мы говорим, что Великий пост — это лишь инструмент подготовки к Пасхе. Но на деле он сам по себе уже вхождение в празднование Пасхи. Тот самый глубокий выдох, без которого не сможет произойти вдох. Поэтому пост надо использовать, чтобы избавиться от ненужного — выдохнуть. И приобрести то, что сможет вас наполнить — вдохнуть. В трех советах от протоиерея Павла Великанова — небольшой список того, что, по его мнению, нужно постараться сделать за время Великого поста.   Продолжить чтение в Read More

Кипр отменяет ограничения для привитых и переболевших путешественников

С 1 марта вступают в силу новые правила для пассажиров, прилетающих на Кипр. Распределение стран будет проходить по трем категориям: зеленой, красной и серой. Кипрская зеленая категория соответствует зеленой и оранжевой категориям в классификации Центра по контролю и профилактике заболеваний (ECDC), а кипрская красная – красной и темно-красной категориям ECDC.   Подразумевается, что все пассажиры, которые обязаны по прибытии сдавать ПЦР-тест, должны сделать это в обязательном порядке, чтобы иметь возможность пройти паспортный контроль. Кроме того, все без исключения пассажиры должны Read More

Пилот украл. Его сын – вернул

Икона Иоанна Крестителя, написанная в XVIII веке на Кипре и украденная пилотом британских королевских ВВС в 1974 году, будет возвращена на остров. Об этом заявил нынешний ее владелец ​ – сын пилота, присвоившего себе икону. Его отец служил на Кипре во время событий 1974 года. Мужчина, пожелавший остаться неизвестным для публики, обратился в Женевскую академию международного гуманитарного права и прав человека с просьбой содействовать безопасному возвращению иконы. Он заявил, что, по его мнению, это будет «правильным поступком». Он не назначил Read More

Природные тропы – самое время!

Закончилась зима. Поля покрылись зелёной травой, орешник – белой и розовой дымкой крон. Вдоль дорог и троп – жёлтые и белые шапки полевого цветения, сквозь них проглядывают алые маки. Жаркое лето впереди, и сейчас самое время пройти по любимым природным тропам. Сегодня наш рассказ о восхитительной прогулке по тропе Афродиты.   Продолжить чтение в Read More

Increased transparency to benefit property buyers

Real estate agents being granted access to property price data is beneficial to property buyers, Council for Registration of Real Estate Agents president Marinos Kineyirou said on Wednesday. This refers to a recent decision by the land registry to allow real estate brokers to access comparative price data of property sales in Cyprus, the first time this has been allowed, with only property appraisers previously being able to access this information.   “This greatly enhances the quality of services that Read More

Антиковидные меры снимут раньше, чем планировалось

Дальнейшее ослабление антиковидных мер ожидается в течение ближайших недель, а не месяцев. Об этом заявил 22 февраля эпидемиолог, один из членов научно-консультативного комитета Михаил Вониатис. Он считает, что обществу нужно научиться жить с коронавирусом. Ранее ответственные лица заявляли, что отмена ограничений возможна только через несколько месяцев. Михаил Вониатис отметил, что несмотря на большое количество заражений, число госпитализаций не увеличилось. «Мы должны быть реалистами и понимать, что жить с коронавирусом придется еще долго, а заражения неизбежно еще будут», – сказал он, Read More

СОТРУДНИКИ КИПРСКИХ ОТЕЛЕЙ ГОТОВЯТСЯ ГОВОРИТЬ WELCOME И «ЗДРАСЬТЕ»

На Кипре в разгаре подготовка к туристическому сезону. По данным портала Brief, отельеры готовятся говорить Welcome и «Здрасьте», ожидая гостей из двух главных стран-поставщиков туристов на остров Афродиты — Великобритании и России. Гендиректор Кипрской ассоциации владельцев отелей (PASYXE) Филокипрос Русунидис надеется на то, что 2022 год будет хорошим для туристического бизнеса. При этом представители туротрасли стараются не питать иллюзий.   Продолжить чтение в источнике: evropakipr Read More

The Digital Services Factory Way Faster Smarter Simpler digital citizen services

With the quality and effectiveness of public administration being a key factor for a country's economic performance and the well-being of its citizens, e-government is directly linked to the concept of administrative reform and the implementation of an effective digital transformation in the public sector. As public authorities must adapt to the new circumstances, the Deputy Ministry of Research, Innovation and Digital Policy, under the Digital Services Factory (DSF) project, is taking an initiative which is expected to radically change Read More

Bank of Cyprus posts €30 million annual profit

The Bank of Cyprus posted an after-tax profit of €30 million and a profit after tax and before non-recurring items of €91 million in its financial results released on Monday. “2021 saw a strong recovery in the Cypriot economy after a period of pandemic-related disruption, providing an improved backdrop against which the Bank performed well,” Group CEO Panicos Nicolaou said.       Continue reading at source: Cyprus Read More

Cyprus Business Now

Cyprus Shipping Chamber (CSC) president Themis Papadopoulos and director general Thomas Kazakos travelled to London this week to attend a session hosted by the International Maritime Organisation (IMO). The event has focused on the maritime industry’s green transition, as well as the challenges posed by the coronavirus pandemic.   Regarding the latter issue, the IMO Assembly adopted a resolution on comprehensive action to address seafarers’ challenges during the pandemic.       Continue reading at source: Cyprus Read More

Possible Relaxation Of Measures Next Week, Says Minister Of Health

A possible relaxation of measures will depend on the Scientific Advisory Committee, Health Minister Michalis Hadjipantela told CNA on Thursday, adding that cases and hospitalisations have stabilised and the next few days are expected to bring better results. The decision to relax the measures will be taken following a meeting between the Minister and the Committee on Thursday morning. After the two sides will meet, Hadjipantela will take part in the weekly cabinet meeting. While the current situation in Cyprus Read More

Cyprus Business Now

The Industrial Turnover Index increased by 17.8 per cent year-on-year in November, with the index being 13.6 per cent higher in the first eleven months of 2021 when compared to the corresponding period of 2020. According to a report by the Cyprus Statistical Service (Cystat), the index reached 157.4 points (base 2015 = 100) in November of 2021.   In the manufacturing sector, the index reached 160.3 points in November 2021, recording an increase of 14.1 Read More

Cyprus Business Now

The volume of credit card transactions rose by 72 per cent between September and November of 2021, according to data provided by credit card processing company JCC to the Cyprus News Agency (CNA). The period in which the increase took place coincides with the implementation of a recently enacted piece of legislation that mandates that all companies accept cards as a means of payment.   Regarding specific categories in which the volume increase was observed, these include catering services (58 per Read More

EU Digital Covid Certificate extended till June 30 for travelling within bloc

The European Commission has extended the EU Digital Covid Certificate by a year – specifically up until June 30, 2023 – since the contagious virus continues to be prevalent in Europe. This means that travellers can continue using their EU Digital Covid Certificate when travelling in the EU where Member States maintain certain public health measures.   Continue reading at source: Read More

Major tech startup programme comes to Cyprus

The European Startup Universe, the biggest project for EU tech startups, is coming to Cyprus, the non-profit organisation announced earlier this month. The programme, which is scheduled to start on March 1, taking place online, will have a duration of six weeks, facilitating the transfer of knowledge, experience and support among technology startup founders and mentors.   The ESU’s objective is to bring together 10,000 early stage startups from across the European Union, with late-stage founders, angel investors, corporates and Read More

Coronavirus: Adviser says epidemiological picture good, opens the way to relaxations

The current epidemiological picture in Cyprus is good and the issue of relaxations will be on the table during a meeting on Tuesday, a member of the government’s scientific team said on Sunday. Epidemiologist Michalis Voniatis told Cybc said that epidemiological indicators show a decrease in cases but more importantly, a decrease in hospitalisations.   “With this data and given the great wall of immunity that has been achieved by vaccinations, decisions can be made to relax some restrictive measures,” Read More

Bus Passengers In Nicosia And Larnaka To Travel With 5G Speed

Connection to a Wi-Fi network, with 5G speed, will be possible for passengers of Cyprus Public Transport buses. The connectivity option is provided to the company’s fleet of 300 buses, in Nicosia and Larnaka, as well as to the bus stations. Also, a new route network, providing more options to passengers will be implemented on January 29th. Yiannis Karousos, Minister of Transport, Communications and Works spoke of an upgrade to public transport in Nicosia and Larnaka. He said that data Read More

Ayia Napa Marina’s Event Centre is Now Open to Host Events

Ayia Napa Marina is entering a new era, announcing the launch of its Event Centre, a one-of-a-kind architectural marvel designed to accommodate all types of high-level, corporate, social, private, or international events. The excellent architecture of the building blends in harmoniously with the natural coastal environment, while its impressive and modern design, combined with the natural details, makes it the focal attraction of Ayia Napa Marina. The Event Centre will be delivered by the end of January 2022, and due Read More

President Anastasiades Satisfied With Works To Open Up The Electricity Market

President Nicos Anastasiades said he is satisfied with the timetable for the opening of the competitive electricity market, set to operate in the fall of 2022, according to a written statement by Deputy Government Spokesperson Niovi Parisinou, following a meeting the President had Monday with Energy Minister, Εnergy System Operator Head, Cyprus Energy Regulatory Authority (CERA) Board and other officials.   Continue reading at source: Gold Read More

Central Bank agrees collective agreement in effort to streamline structure

The Central Bank of Cyprus (CBC) announced on Thursday that it has signed a new collective bargaining agreement with the Cyprus Union of Bank Employees (Etyk). “Today’s agreement is a milestone for the central bank,” CBC Governor Constantinos Herodotou said after the signing.   Herodotou said that the new agreement will see the central bank simplify its organisational structure, which will consist of ten employment levels.       Continue reading at source: Cyprus Read More

Renewable energy programmes a success, ministry says

The Cyprus Minister of Energy, Commerce and Industry announced this week that its commercial renewable energy system incentive schemes, including for the creation of photovoltaic parks, have been deemed successful. The main reasons cited for this assessment include the increased investment in this sector, as well as the increased penetration of renewable energy systems in the Cypriot market.   “First, the programmes attracted investment in the installation of large photovoltaic parks, since, until then, the focus was mainly on small Read More

Coronavirus: Travel restrictions being lifted for fully jabbed (Update 1)

Vaccinated passengers and those who have recovered from Covid-19 will be exempted from travel regulations based on the epidemiological categorisation of their country according to the new national travel regulations to be in force as of March 1. In a second decision, the cabinet reduce the self-isolation period from 14 to 10 days, for people who are close contacts of a confirmed positive. The decision enters into force on January 24. Release earlier than 10 days can be done by Read More

Leading retailer Public sees €50mn investment

The Olympia Group, an investment group with interests in a number of industries, announced this week it had increased its stake in e-commerce retailer and omnichannel retailer Public-MediaMarkt, operating in Greece and Cyprus, to 98 per cent after a €50 million outlay. MediaSaturnHolding, which engages in the operation of consumer electronics stores in a number of European countries, has retained a 2 per cent stake.       Continue reading at source: Cyprus Read More

Cyprus Business Now

According to a report by the Cyprus News Agency (CNA), the yield of the 10-year EMTN bond, issued by the Republic of Cyprus in international markets on Thursday, reached 1 per cent, with demand exceeding supply almost by eight-fold. Following the issuance of the bond, the Republic of Cyprus raised €1 billion in total, with bids amounting to €7.8 billion overall.   The CNA report adds that the initial guidance by the publishing consultants provided a yield of 75 Read More

Kasoulides Meets With The Ambassadors Of Greece And France

Cyprus` new Foreign Minister, Ioannis Kasoulides, met on Wednesday with the Ambassadors of Greece and France in Nicosia, Ioannis Papameletiou and Salina Grenet-Catalano, respectively. The Ministry of Foreign Affairs said in a post on its Twitter account that the Minister had a cordial meeting with the Ambassador of Greece on the occasion of undertaking his duties, and stressed the continuation of the excellent cooperation, coordination and deliberations between Nicosia and Athens.   Continue reading at source: Gold Read More

Cyprus and Kuwait Foreign Ministers to review bilateral relations

Foreign Ministers of Cyprus and Kuwait will review bilateral relations and are expected to discuss developments in region, the Cyprus problem, as well EU-Kuwait relations, during a meeting, on Monday, in Nicosia. Foreign Minister Nikos Christodoulides will meet at the Foreign Ministry, first tete-a-tete and later on in extended format with official delegations, with his Kuwaiti counterpart, Sheikh Ahmed Nasser Al-Mohammed Al-Sabah, who will pay a working visit to Cyprus, a Foreign Ministry press release says.   Continue reading at Read More

Minister Of Health Says New “Deltacron” Variant Found In Cyprus Not Something To Worry About

Minister of Health Michael Hadjipantela has said that Deltacron, a new variant of COVID-19 found in Cyprus, was not something to worry about The Minister, who was accompanied by the Permanent Secretary of the Ministry, Christina Yiannaki, on Saturday visited the vaccination center at "Spyros Kyprianou" sports center, in Limassol, where children were vaccinated against COVID-19. In his statements, Hadjipandela thanked the Cyprus Pediatric Society for the voluntary participation of its members in the effort to vaccinate children aged 5 Read More

Qatar Airways Launches Global Sale in Celebration of its 25th Anniversary

Qatar Airways celebrates its 25th Anniversary by starting the Global Sales Campaign for passengers in Cyprus, offering great savings with fares starting from €469. This is in addition to special savings on seat selection, extra baggage allowance, hotel bookings and car rental, for a 7-day campaign period starting on January 10th.  Passengers joining the airline’s award-winning loyalty programme, Privilege Club, using the enrolment promo code FLYQR22 will instantly earn an additional 2,500 bonus Qmiles in celebration of Qatar Airways Read More

Health Minister Announces New Package Of Measures With Effect From January 6

Cabinet on Wednesday decided new measures to curb the spread of COVID in the community, following the increase in cases and hospitalizations the last days. The measures, which were announced by Health Minister Michalis Hadjipantelas, take effect January 6th. Hadjipantelas said that we need to trust the science and show support to the collective work.   Continue reading at source: Gold Read More

Deloitte’s Tax Facts 2022: Every Taxpayer’s Tool To The Tax System In Cyprus

Deloitte has issued its annual tax guide for 2022, "Cyprus Tax Facts 2022". The publication is a comprehensive guide, offering concise information to businesses and individuals on the Cyprus tax system. The guide covers important provisions of tax legislation, including law amendments voted by the House of Representatives during 2021. This year’s publication comprises of the tax calendar for 2022 and information on the tax obligations arising from Income Tax, Special Contribution for Defence, Capital Gains Tax, VAT and Social Read More

All Passengers Arriving In Cyprus January 4th Onward Need To Show A Negative PCR Test

The Health Ministry reminds everyone that new regulations are in place for airport arrivals at the Republic as of January 4th. All passengers, regardless of their vaccination scheme, are asked to present a negative PCR 48 hrs prior to their departure. Regulation applies also to all passengers travelling on the 4th or those who have filled out their CyprusFlightPass within 48 hrs prior to January 4th. Ministry also reminds that all passengers, regardless of their vaccination scheme will have to Read More

Renewal of road tax as of 7 January

According to an announcement of the Road Transport Department, Road Tax for 2022 can be paid from 7th January 2022. Vehicle owners have the option to pay for three, six, nine, or twelve months Road Tax, enabling the cost to be spread across multiple payments. The last date for Cyprus Road Tax 2022 renewal without paying a fine is 11th March 2021. After this date vehicle owners who have not renewed their road tax will be charged 10 euros and Read More

Eurobank Completes Acquisition Of 12.6% Of Hellenic Bank

Greek Eurobank Ergasias announced it has completed the acquisition of 12.6% of Hellenic Bank, Cyprus’ second largest lender. The Greek bank said it acquired a 2.7% stake of Hellenic Bank’s share capital namely 11.19 million shares with a price of €8.95 million. Eurobank acquired the stake of Third Point Fund. On July 23 the Bank bought 9.9% of Third Point’s stake in Hellenic Bank and had signed an SPA to acquire the remaining 2.7% Read More

TUS doubles number of Paphos-Athens flights

TUS Airways has decided to expand and increase the number of flights from Paphos to Athens, the transport ministry said on Tuesday welcoming this move as an important development for residents and tourism. The ministry said that the air carrier, that included the Paphos to Athens route in its flight programme from December 10, has informed Transport Minister Yiannis Karousos that it has decided to double its weekly flights from two to four until March 2022. The airline was to Read More

Coronavirus: Three countries reclassified

The health ministry has reclassified three countries on its list of colour-coded destinations for Covid-19. The changes, which take effect from Thursday December 30 included moving New Zealand from orange to green, moving the UAE from green to orange, and Canada from orange to red.   Green countries are classed as low risk, orange low risk but in more doubt than green, while red countries are considered high risk.       Continue reading at source: Cyprus Read More

Loan restructurings in Cyprus reach a historic high – CBC

Loan restructurings in the Cypriot banking system edged close to €2 billion in the first ten months of 2021, marking the highest figure according to Central Bank of Cyprus (CBC) records which began at the end of 2014. According to CBC data, restructured loans by the end of October rose to €1.98 billion as banks accelerated loan restructurings following the termination of the payment suspension at the end of 2020 enforced due to the pandemic. The Cypriot payment suspension Read More

Flights To And From Cyprus Not Affected So Far Despite Covid Omicron Variant

Flights to and from Cyprus airports continue as scheduled despite a wave of flight cancelations globally due to the Covid Omicron variant. News agencies reported that around 6,300 flights globally have been cancelled over the Weekend of Christmas due to the Omicron variant which disrupted flights as air carriers’ employees and mainly pilots were in isolation.   Continue reading at source: Gold Read More

Tender For The Biggest Culture Project Ever, The New Cyprus Museum, Announced

The greatest culture project implemented by the Government, the new Cyprus Museum, is underway following the announcement on Wednesday of the tender for the construction contract of the project. The announcement of the tender was made by Minister of Transport, Communications and Works, Yiannis Karousos, during an event for the presentation of the project in Nicosia. Tenders will be open until 1st July 2022 and contracts will be signed around the end of the new year.   Continue reading at Read More

Cypriot university teams up with Microsoft for start-ups programme

European University Cyprus has linked up with US technology giant Microsoft to launch a new programme for start-up businesses. Titled Microsoft for Start-ups Cyprus Program, the programme will assist 10 strictly Cyprus-based start-up businesses in each iteration, with the businesses receiving a specialised course of education, guidance and mentoring.   Through this, the programme aims to accelerate the growth of these start-ups, acclimating them to the world of business while they are still in their nascent stage, while also teaching Read More

Bank of Cyprus outlook revised to positive by Fitch Ratings

American credit rating agency Fitch Ratings announced on Wednesday that it has revised the Bank of Cyprus’ outlook to positive from negative, while at the same time affirming the bank’s Long-Term Issuer Default Rating (IDR) at ‘B-‘ and Viability Rating (VR) at ‘b-‘. The agency attributes the outlook revision to the bank’s recent agreement to offload €600 million in non-performing exposures (NPEs) and €121 million in foreclosed real estate assets.   The agreement, titled Helix 3, will upgrade the Bank Read More

International Moon Day established at meet in Cyprus

Cyprus played host to celebrations to mark International Moon Day, announced during an online press conference organised by NGO Moon Village Association (MVA) in cooperation with the Cyprus Space Exploration Organisation (CSEO) on Tuesday. The announcement was made during the 5th Global Moon Village Workshop & Symposium hosted by CSEO from Nicosia.   MVA president Giuseppe Reibaldi said that the UN has approved the association’s proposal to establish July 20 as International Moon Day to commemorate the day humans landed on Read More

Firms Given Permission To Operate Under TPR Until Their Applications Are Reviewed

CySEC has issued a Policy Statement (available here) relating to its decision to further amend Directive 87-04, in an effort to ensure the smooth transition of UK groups operating under the Temporary Permissions Regime (TPR), until they establish a physical presence in Cyprus. It should be noted that in December 2020, CySEC introduced a Temporary Permission Regime so that UK firms can continue to provide investment services without a physical presence in Cyprus, under the condition that they only offer their Read More

Christodoulides: Cyprus – Egypt Bilateral Ties At All-Time High

Bilateral ties between Cyprus and Egypt are now at an all-time high, said Minister of Foreign Affairs of Cyprus, Nikos Christodoulides, following consultations with the Minister of Foreign Affairs of Egypt, Sameh Shoukry in Nicosia. The meeting between the two Foreign Ministers on Tuesday, provided an excellent opportunity to hold an in depth discussion on the bilateral, trilateral and regional partnerships, “which are going from strength to strength, for the benefit of our peoples and also of our whole region,” Read More

Cyprus Business Now

Central Bank of Cyprus governor Constantinos Herodotou said on Monday that he is seeking ways to expedite banks’ client digital onboarding and reviewing processes, with Cypriot banks participating in this initiative. Banks who have been engaged by the central bank and are currently a part of the entire process include the Bank of Cyprus, Hellenic Bank, Alpha Bank Cyprus, Astrobank, Eurobank Cyprus, RCB and the Cyprus Development Bank.   The implementation of such a solution aims to help real economy stakeholders, Read More

Lefkara named one of world’s top tourism villages

Lefkara has been recognised as one of the ‘Best Tourism Villages’ by the United Nations World Tourism Organisation (UNWTO). The initiative was launched to advance the role of tourism in safeguarding rural villages, along with their landscapes, natural and cultural diversity, and their local values and activities, including local gastronomy.   A total of 44 villages from 32 countries across the five world regions were granted the recognition in 2021.       Continue reading at source: Cyprus Read More

‘A marvel of structural engineering’: Completed Eleftheria Square to be inaugurated

Eleftheria Square is an extremely important project by one of the best architects of the 21st century Nicosia Mayor Constantinos Yiorkadjis said on Thursday expressing pride that the local authority dared to take this project on and see its completion. He was speaking during a tour of the square by director of Zaha Hadid Architects (ZHA) and co-designer of the project, Christos Passas, ahead of the inauguration ceremony on Friday night.       Continue reading at source: Cyprus Read More

Cyprus, ExxonMobil and Qatar Energy sign offshore gas exploration deal

Cyprus on Friday signed a natural gas exploration and production sharing contract for an offshore field in its Exclusive Economic Zone (EEZ) with ExxonMobil and Qatar Energy. The two will start field work for seismic data acquisition in block 5 next year. The agreement was signed at the presidential palace by Energy Minister Natasa Pilides, Ali Al-Mana, manager of Qatar Energy’s International Upstream and Exploration and Varnavas Theodossiou, managing director for ExxonMobil Cyprus   Pilides hailed the ceremony as the Read More

Cyprus Business Now

The University of Cyprus announced on Wednesday that it has signed a partnership agreement with the Cyprus Marine and Maritime Institute (CMMI). The partnership will encompass cooperation in the fields of shipping and maritime research, technological development and innovation.   The agreement was signed by the Rector of the University of Cyprus Tasos Christofides, Larnaca mayor Andreas Vyras, and CMMI Chief Executive Officer Zacharias Siokouros.       Continue reading at source: Cyprus Read More

UK and Russia among Cyprus Airways winter destinations

Cypriot airline Cyprus Airways announced on Wednesday that it has commenced ticket sales for its winter destinations for this year. The Larnaca-based airline will operate flights to Greece, the United Kingdom, Russia, Lebanon, and Israel this winter.   Flights to the UK will begin on February 1, with the airline travelling to Heathrow three times a week.       Continue reading at source: Cyprus Read More

Lidl Cyprus Made A Good Impression At HORECA 2021 With Lidl Food Academy On The Go Presenting Special Cooking Seminars

The Pancyprian Exhibition of Food & Drink HORECA - Gastronomica was held at the State Exhibition and was visited by food lovers, both professional and amateur. Naturally, Lidl Cyprus and the Lidl Food Academy on the Go, ardent supporters of quality food, could not miss such an occasion. The exhibition, which was organised by the Cyprus Chefs' Association, is the largest exhibition by catering and gastronomy professionals, and takes place on an annual basis. This year, however, for the first Read More

Coronavirus: Mandatory PCR tests for all arriving passengers from today

Stricter measures aimed at stopping the spread of the coronavirus and the recently identified potentially more transmissible Omicron variant came into force Monday, including the Republic’s two airports. From Monday and until January 10 next year, all inbound travellers will have to undergo PCR testing and foot the cost of the test, which is around €15.       Continue reading at source: Cyprus Read More

Eighth trilateral summit among Cyprus, Greece and Israel set to take place in Jerusalem

The 8th trilateral summit between Cyprus, Greece and Israel set to take place on Tuesday, in Jerusalem, is expected to focus, among other issues, on the Cyprus problem, developments in the Eastern Mediterranean, cooperation on environmental protection and renewables, joint actions in emergencies and cooperation in the field of energy. Cyprus President Nicos Anastasiades travels to Israel on Monday evening to take part in the summit, a presidency press release says.   Continue reading at source: Read More

Pope's Visit And Meetings In Cyprus Send Strong Message Of Solidarity, President Says

Pope Francis` visit to Cyprus and the meetings he holds send a strong message of solidarity in our common cause and joint objectives and are a testament of the continuation of the positive record of bilateral relations between the Republic of Cyprus and the Holy See, President Nicos Anastasiades has said. Speaking at the official dinner Thursday evening, in honor of the delegation of the Holy See, he noted that the visit of His Holiness, Pope Francis, to Cyprus is Read More

Tight security as Cyprus prepares to welcome Pope

Over 500 police officers from multiple branches of the force will be deployed for Pope Francis’ two-day visit to Cyprus. A rapid response unit (MMAD) will be on duty for the entire duration of the Pontiff’s visit. He is scheduled to land at Larnaca airport at 3pm on Thursday, where he will be received by House President Annita Demetriou and members of the Council of Ministers.   The Pope will be accompanied by a police escort and a police helicopter Read More

Coronavirus: Cabinet to consider new measures as cases surge

A ‘work-from-home’ order for 20 per cent of a businesses’ staff is expected to be among the proposals submitted by the health minister to Thursday’s council of ministers meeting. Health Minister Michalis Hadjipantelas has also sought the opinion of the attorney general on mandatory vaccinations for certain professional groups.   Government spokesman Marios Pelekanos told state broadcaster CyBC that mandatory vaccination is not a measure which is likely to be taken ‘within the immediate timeframe’ – as the aim is Read More

Cyprus to assume gas forum presidency

The Minister of Energy, Commerce and Industry Natasa Pilides will assume the presidency of the East Mediterranean Gas Forum on January 1, 2022, taking over from Tarek El Molla, the Minister of Petroleum and Mineral Resources of Egypt. The East Mediterranean Gas Forum was set up to help set common strategies among member countries, create a competitive regional gas market, help safeguard supply and demand, as well as to help coordinate resource development efforts.       Continue reading at Read More

Tender for Greece – Cyprus maritime link on Friday

The tender for the maritime link of Greece and Cyprus is expected to be launched next Friday, 26 November, according to information from capital.gr The decision of the Deputy Shipping Ministry of Cyprus which is in charge of the processes has been made. It is noted that the release of the relevant documents has delayed a bit in order to complete negotiations with the transporters.   Continue reading at source: in-cyprus   Read More

Incentives for old petrol cars to be scrapped for electric ones to be announced on Thursday

An attractive incentive package to encourage motorists to scrap their old petrol cars for a new environmentally-friendly electric one will be made available to Cyprus residents before December’s end. On Wednesday, the Cabinet approved Transport Minster Yiannis Karousos’ proposals which are to be presented at a press conference at the Presidential Palace on Thursday.   Continue reading at source: Read More

University of Cyprus spearheads virtual reality project

The University of Cyprus’ Department of Computer Science is coordinating a virtual reality (VR) project, with the aim of training a future generation of innovators and researchers in the field of VR simulation and animation. Titled CLIPE, short for Creating Lively Interactive Populated Environments, the project is part of the European Union’s Marie Sklodowska-Curie Innovative Training Network (ITN).   “The accomplishment of such innovations calls for a reconsideration of the educational, research and professional objectives that higher institutions and businesses Read More

Cyprus shines in major international robotics festival

Cypriot students excelled at the Robotex International robotics festival in Estonia earlier this month, placing high in a number of categories. “We proudly followed on social networks the young roboticists raising the flag of our country countless times on the podium of Robotex International 2021,” the Cyprus Computer Society (CCS) said. Taking place at Saku Suurhall in Tallinn, Robotex International involved the participation of approximately 600 students from 21 different countries, including India, Italy, the United States, Turkey, Madagascar and Read More

Pope Francis to celebrate Mass at Nicosia’s GSP stadium on December 3

Pope Francis will celebrate Mass at GSP stadium in Nicosia during his imminent visit to Cyprus on Friday December 3, Philenews reports citing Foreign Ministry insiders. High-ranking Vatican officials and members of the Pope’s security team are back in Cyprus for additional meetings with officers of the Ministry’s Protocol Department aiming to draft the visit’s agenda.   Continue reading at source: Read More

Cyprus President in Paris for high-level Libya conference, Peace Forum

Cyprus President Nicos Anastasiades on Friday joins leaders from some 20 states at a high-level Libya conference in Paris hosted by French President Emmanuel Macron. Among those to attend are United States Vice President Kamala Harris, German Chancellor Angela Merkel, Italian Prime Minister Mario Draghi and United Nations Secretary-General Antonio Guterres.   Continue reading at source: Read More

With over 110 films, Cyprus International Film Festival returns

Cinema lovers rejoice! The Cyprus International Film Festival returns this month for the 16th consecutive year with screenings and parallel events in selected venues around Nicosia and Larnaca. From November 11 to 17, and as part of the second Larnaca Biennale, the film festival features films from varied genres and hosts film directors during its events. K-Cineplex Prime Nicosia will be one of the venues with screenings throughout the festival, each evening between 7.15pm and 9.45pm. The Classic Read More

Cyprus Business Now

The Cyprus Union of Bank Employees (ETYK) has renewed its collective agreement with card payments and processing company JCC until 2022. The trade union explained that since the Bank of Cyprus is a major stakeholder in JCC, the collective agreements it has signed with both companies are nearly identical.   The union also stressed the importance of retaining the company’s contribution to the employee providence fund at 9 per cent.       Continue reading at source: Cyprus Read More

Cyprus takes part in virtual country exhibition in China

By Lanting Liu Cyprus is taking part in the fourth China International Import Expo (CIIE), which opened in Shanghai on Friday, in the virtual country exhibition.   It is the first time Cyprus is taking part in this major international event, even though it is in the digital pavilion for guest countries, which was built using 3D modelling technology.   The virtual exhibition helps promote a country, by showcasing leading industries its culture and tourism, as well as highlighting its Read More

Paphos tourism board and hoteliers attend World Travel Market in London

Paphos regional board of tourism (ETAP) and local hoteliers were in London this week to establish contacts at the World Tourism Market (WTM), which opened on Monday. The three-day travel and tourism expo (1-3 November), returned after a two-year absence due to Covid-19, and is one of the most important annual meetings for the international travel sector.   In addition to the Deputy Ministry of Tourism and other travel and hotel associations, agencies, and businesses that were part of the Read More

Royal Caribbean to continue using Limassol port

Royal Caribbean International is expected to continue using Limassol as a home port for some of its cruises in 2022, port management company DP World Limassol said on Thursday. DP World Limassol CEO Nawaf Abdulla said that the Norwegian cruise operator’s decision to make Limassol its home port this year boosted the cruise sector in Cyprus, a move that could encourage other companies to make Limassol their home port in 2022.   “We are proud to have gained the trust Read More

Funds Summit draws international attention to Cyprus

Cyprus Investment Funds Association (CIFA) and Invest Cyprus’ seventh iteration of the International Funds Summit drew international attention to the island’s progress and potential as a fund management and investment destination. “It is worth making special reference to the International Funds Summit becoming a reference point for the investment funds sector in the wider region since most of the delegates were from abroad and now recognise Cyprus as a dynamic, developing destination,” CIFA said.       Continue reading at Read More

Cyprus property market apartments and office space dominate demand

The Cyprus property market is suffering from a misalignment between what is primarily available and what is being sought after by property seekers, a report from independent real estate asset management and advisory firm WiRE has shown. “There is a significant mismatch between supply and demand, which is resulting in imbalances across asset classes,” WiRE CEO Pavlos Loizou has stated.   Loizou explained though there is ample supply of land, as well as industrial buildings (at times dated) and large Read More

Parades as Cyprus marks Ochi day

A number of church services and school parades took place on Thursday to mark Ochi (No) day, when Greek dictator Ioannis Metaxas rejected the ultimatum given by Italian dictator Benito Mussolini on October 28, 1940, demanding the Axis Powers enter Greece to take up strategic positions. “Today we honour Greek virtues,” President Nicos Anastasiades told reporters following a church service held at the Apostolos Varnavas Cathedral on Thursday morning, “virtues that translate into love for the homeland, magnified through a Read More

Russians pick sunny Cyprus over lockdown

Cyprus, with typically over 300 sunny days a year, has emerged as a lockdown-breaker for Russians as Moscow embarks on a wide-ranging lockdown. Lockdown in Moscow? No thanks! I’ll have a week-long, sun-seeking session on the beaches of Cyprus please, is what thousands of Russians are telling tour operators as they seek to dodge a new round of Covid-19 restrictions.   On Thursday, the Russian capital reimposed its strictest lockdown since June 2020 as a record 1,159 Covid-19 deaths were Read More

Financial firm opens new Limassol office, calls Cyprus ‘obvious choice’

Quant Insight (Qi), a new quantitative financial market analytics and trading insights provider, announced on Wednesday that it has opened its new headquarters in Limassol. The company also has offices in London, New York, Boston and Singapore and has clients with total Assets Under Management (AuM) exceeding $2.5 trillion.   Located at the Cedars Oasis Tower, Quant Insight’s new headquarters also signal its intent to launch a major expansion across both the Middle East (ME) region, as well as Read More

Cyprus Business Now

Hellenic Bank has released new eco-friendly credit and debit cards made out of biodegradable material. Available since Monday, October 25, in Mastercard form, the new cards require 82 per cent less PVC (polyvinyl chloride, a synthetic polymer) to create. Biodegradable Visa cards will become available in 2022.   The new cards also incorporate a more subtle presentation of the 16-digit card number on the back of the card.       Continue reading at source: Cyprus Read More

Cyprus among top spots with one in five Brits planning overseas holiday

Approximately one in five (21 per cent) people in Britain have a foreign holiday booked at the moment, easyJet’s ‘Taking The Temperature’ report has revealed. Moreover, roughly a quarter of them booked their holidays in a single month, with 24 per cent of bookings taking place in September.   With the travel and leisure industries still recovering, people seem eager to get away before the end of 2021, with 28 per cent of the bookings involving holidays taking place before the year Read More

First traffic cameras operational as of today

The pilot operation of eight traffic cameras – four fixed and four mobile- started on Monday morning with the aim of reducing road accidents. The cameras, installed as part of the initial phase of a €35m traffic-camera system, recorded about 500 violations in just two hours at a busy junction in central Nicosia last week.   However, authorities decided than no fines will be issued during the first 30 days of operation, with warnings sent to all traffic offenders.   Read More

Cyprus and India see growth potential in renewables, trade and tourism

Cyprus and India reaffirmed the potential for further development and increased cooperation during the ninth Cyprus-India Intergovernmental Meeting on economic, scientific, technical and industrial partnerships held on October 21. The sectors discussed between the two countries include fossil fuel energy, renewable energy, as well as research and innovation.   According to Ernst & Young’s (EY) 2021 Renewable Energy Country Attractiveness Index (RECAI), India is the world’s third-largest energy consumer.       Continue reading at source: Cyprus Read More

Deputy Ministry Of Tourism Updated The Website Delightfulcyprus

Cyprus Deputy Ministry of Tourism has announced the release of the updated website www.delightfulcyprus.com in Greek and English language, in the context of the upgrade of the Cyprus Gastronomy Promotion Pact "Taste Cyprus". According to a press release, issued by the Deputy Ministry, its main goals are the promotion of the Cypriot wine-gastronomy, the promotion of local products and companies, the quality upgrade of relevant services, the formation of a new gastronomic awareness and the evolution of Cyprus Read More

Εastmed And Mideast Region Needs To Work Together To Tackle Climate Crisis, Prof. Sachs Tells CNA

The basic message of the 2nd international conference on climate crisis that took place in Cyprus last week is clear: The region of the Eastern Mediterranean and Middle East (EMME) needs to work together on three great themes, Professor Jeffrey Sachs told the Cyprus News Agency. Professor Sachs, Director of the Center for Sustainable Development at Columbia University who was among the keynote speakers of the conference, organized by the Cyprus government and the Cyprus Institute in the framework of Read More

Cyprus Business Now

Cyprus’ residential property price indexes plateaued somewhat during the second quarter of 2021 according to data released by the Central Bank of Cyprus. The indexes were affected by a slight drop in house prices combined with an increase in apartment prices.   According to the second quarter Residential Property Price Index (RPPI) report, a quarterly increase of 0.3 per cent was recorded.     Continue reading at source: Cyprus Read More

The Greece-Cyprus-Egypt Trilateral Summit To Be Held In Athens Tuesday

The 9th Greece-Cyprus-Egypt Trilateral Summit will be held today, Tuesday 19 October, in Athens, with the participation of the Greek Prime Minister Kyriakos Mitsotakis, the President of the Republic of Cyprus Nicos Anastasiades, and the President of Egypt Abdel Fattah al-Sisi. The agenda of the trilateral meeting will include developments on the Cyprus problem, energy cooperation, regional developments, and a review of the progress of the Cyprus-Greece-Egypt trilateral cooperation.   Continue reading at source: Gold Read More

Cyprus to get first new copper mine in decades

Venus Minerals and Hellenic Copper Mines have agreed on a partnership for the creation of a copper mine in Apliki, a village in the Nicosia district. In an announcement released on Tuesday, the two companies stated that they have both signed a binding preliminary agreement for the development of a licensed mine in Apliki, a region with rich copper deposits.   While the project will be managed and spearheaded by Venus Minerals, the two mining companies will have equal stakes Read More

Neo Plaza retail park opening on Tuesday

Neo Plaza retail park is opening its doors with 45 stores this Tuesday in Kokkinotrimithia. With the moto “All day destination for Fun, Food and Fashion”, Neo Plaza “combines the modern with the traditional habits, inaugurating a new way of entertainment and consumer goods in a multifaceted place, a point of reference,” the press release said.   Located just 15 minutes from Nicosia’s town centre, Neo Plaza aims to serve the needs of the local consumer public of all ages, Read More

Cyprus and Egypt sign EuroAfrica Interconnector preliminary deal on Saturday

Egypt and Cyprus on Saturday will sign in Nicosia a preliminary deal to build a large electricity cable connecting the two countries, according to Philenews. The EuroAfrica Interconnector agreement will be sealed by the island’s Energy Minister Natasa Pilides and Egypt’s Electricity Minister Mohamed Shaker.   Continue reading at source: Read More

CySEC Promotes Basic Investor Education

The Cyprus Securities and Exchange Commission’s (CySEC) ended its participation in World Investor Week 2021 on a positive note. CySEC joined forces with other international Supervisory Authorities on six continents, to inform and alert investors to the importance of financial literacy. More than 100 countries from around the world as well as international organisations participated in this year’s event, taking a series of initiatives to improve investor education and highlight how crucial financial literacy is, so as to further empower Read More

Cyprus Business Now

The Ministry of Energy, Commerce and Industry has announced that it has received 652 applications from pre-existing and newly formed manufacturing small-to-medium enterprises (SMEs) who wish to improve their competitiveness. The initiative, which falls under the government’s Thalia programme, can provide funding to SMEs for the purposes of modernising or expanding their operations.   This includes the refurbishment of the facilities used by the business, as well as the purchasing of new machinery.       Continue reading at source: Cyprus Read More

Cyprus Business Now

Industrial Turnover showed a significant increase of more than 10 per cent in July 2021, but also in the first seven months of the year, a development that is mainly due to the increase in electricity and water supply sectors. According to the Cyprus Statistical Service (Cyprus), in July 2021, the Industrial Turnover Index reached 162.5 units, registering an increase of 10.6 per cent compared to July 2020.   For the period January-July 2021, the index recorded an increase Read More

President of Poland to pay a three-day official visit to Cyprus

The president of Poland, Andrzej Duda accompanied by his wife, is arriving in Cyprus on Wednesday afternoon to pay a three-day official visit to Cyprus, at the invitation of President Anastasiades. On Thursday morning, Anastasiades will officially welcome his counterpart at the Presidential Palace. The two residents will have a private meeting, which will be followed by extended talks between the delegations of the two countries.       Continue reading at source: Cyprus Read More

Gold deposits confirmed in Kokkinoyia

A series of exploratory drilling at Kokkinoyia, a mining area near Mitsero in the Nicosia district, has led to the confirmation of gold deposits in all drill holes, identifying the deposits as a mixture of copper, gold and zinc. The exploratory drilling at Kokkinoyia is part of the Magellan Project, conducted by Venus Minerals, a mining company seeking to explore and develop copper and gold assets on the island.       Continue reading at source: Cyprus Read More

Anastasides: The Government Invests In The Human Capital Of The Country

Cyprus President Nicos Anastasiades said Tuesday that the Government aims to invest in the country`s human capital and create a modern labor market with well-trained human resources that can effectively respond to the ever-changing conditions and growing challenges and demands of the modern economy, in his speech at the 29th Pancyprian Congress of SEK trade union. The speech was delivered on behalf of the President by the Minister of Finance Constantinos Petrides.   Continue reading at source: Gold Read More

Coronavirus: Seven countries change categories

The health ministry on Monday issued new country rankings for travel, upgrading Malta from Orange to Green, and Liechtenstein, Norway and Japan from Red to Orange. On the other hand, Hungary was moved from Green to Orange, while Luxembourg and Singapore moved from Orange to Red.   The changes come into effect on Thursday, October 7.       Continue reading at source: Cyprus Read More

Retail and tourism keep Cypriot economy on growth path

Buoyed by the tourism and retail sectors, the Cypriot economy continued to be on an upwards trajectory in August according to a report by the University of Cyprus Economic Research Centre. Cyprus’ Composite Leading Economic Index (CCLEI), which uses a variety of metrics to provide an early outlook on future economic activity, increased by 10.8 per cent year-on-year in August.       Continue reading at source: Cyprus Read More

Cyprus and Lebanon tech communities come together

A memorandum of understanding has been signed to officially launch the Cyprus Lebanon IT Hub (CLITH). Signed and confirmed during an online press conference, this initiative aims to bring the information technology communities of the two countries together in a mutually beneficial way.   The initiative’s founding members include Lebanese IT Syndicate president Georges Khoueiry, the president of the Lebanese Association for the development of Information Technology Maya Zgheib and Managing Director of Alstrad International Sean Alimov.       Read More

Cyprus Business Now

The Bank of Cyprus’ BOC Asset Management (BOCAM) company has been awarded a contract to provide consultancy services to the Cyprus Telecommunications Authority (Cyta), as well as to its subsidiaries Digimed Communications and Iris Gateway Satellite Services. The services will involve consultations on various financial products that fall within the parameters of Cyta’s investment policy as well as its accepted level of risk-taking.   BOCAM is wholly owned by the Cyprus Investment and Securities Corporation (CISCO), a Bank of Cyprus subsidiary Read More

Travelling: Four countries move from red to orange category

Following a decision of the Council of Ministers, on 18 February 2021, regarding the Action Plan for the gradual resumption of flights and the re-opening of airports, the Epidemiological Monitoring Unit of the Ministry of Health has made a re-evaluation of the epidemiological situation in various countries as regards COVID-19. The categorization for the countries of the European Union and the European Economic Area (Iceland, Liechtenstein, Norway) as well as Switzerland, in the Green, Orange or Red Categories, is based upon that of the European Centre Read More

Aim is for quarter of new cars to be electric by 2030

Cyprus aims to see electric cars make up at least one quarter of all newly registered vehicles per year by 2030, Transport Minister Yiannis Karousos said at the informal meeting of EU ministers of transport and energy in Slovenia. The government is also hoping to have 1,000 vehicle charging stations by 2026, according to Karousos, who briefed his EU counterparts of Cyprus’ “ambitious” policy to promote electromobility.   Continue reading at source: Cyprus Read More

Cyprus To Take Part In EXPO2020 To Be Held In Dubai

With the aim of promoting its business and investment opportunities as well as increasing its visibility, Cyprus participates in the EXPO 2020 to he held in Dubai from October 1 until the end of March, 2022, Cypriot officials said on Thursday. Cyprus will participate with a dedicated pavilion and Cypriot officials will take part on various events, while on February 24, 2022, a business forum will be held on the occasion of Cyprus’ National Day in the presences of President Read More

Cyprus in ‘historic’ bid to host group phase of Eurobasket 2025

The Cyprus Basketball Federation (CBF) presented its candidacy to host the group phase of the Fiba Eurobasket 2025 in Limassol. The candidacy was officially presented at an event held in the presence of Finance Minister Constantinos Petrides, MPs and sports stakeholders, such as the Cyprus Sport Organisation and the Cyprus Olympic Committee. “CBF and our country are before an opportunity of historic significance, to seek a major sports event which could constitute a landmark with sport and social prospects,” Andreas Read More

October opening for new tender giving second chance to Piraeus-Limassol sea connection

A new tender by the governments of Greece and Cyprus giving another chance to the sea connection between the ports of Piraeus and Limassol will be announced before October’s end. This is what Philenews reported on Tuesday, citing Capital.gr.   Continue reading at source: Read More

Cyprus Business Now

The Deputy Ministry of Tourism said that this year’s World Tourism Day’s theme of Tourism for Inclusive growth is fully aligned with Cyprus’ national tourism strategy for 2030.\ “The World Tourism Organization pushes global tourism towards sustainable development that takes into account the needs of every stakeholder, the visitors, institutions, communities, entrepreneurs, but also of society at large, ensuring that every piece of the mosaic called tourism has a say in its future, including those who under normal circumstances risk Read More

Loukaidis: Cyprus Among Top EU Countries In Research And Innovation

Cyprus ranks fifth among EU countries in the progress achieved regarding research and innovation, Theodoros Loukaidis, Director General of the Research and Innovation Foundation (RIF) told CNA. In an interview with the Cyprus New Agency, he said that innovation has been significantly boosted recently in Cyprus. He referred to the expansion of the Cypriot ecosystem of Research and Innovation achieved in the last years, the important possibilities for further development as well as the actions to widen the culture and innovation Read More

Electricity bills to be slashed by 10% for next four months (updated)

The government on Friday announced a 10 per cent discount on electricity bills for the next four months, as well as renewable energy schemes aimed at long term savings for businesses and households. Energy Minister Natasa Pilides said the electricity company (EAC) will absorb part of the cost of the increase in electricity caused by rising fuel prices and the cost of emissions.   “The government understands the pressure on businesses and households caused by the pandemic and has prepared Read More

Cyprus Business Now

AstroBank appointed two new board members on Friday, September 10. In an announcement released on Thursday, September 16, the bank said that Michalis Sarris and Evi Rossidou have joined the board.   Rossidou is AstroBank’s Head of Corporate, SME and Shipping Division, having been with the bank since 2008, while Sarris is a well-known economist and former Finance Minister.       Continue reading at source: Cyprus Read More

Transport ministry says flight incentives proved a success

The ministry of transport on Wednesday said a programme to offer incentives to passenger airlines was a success as Cyprus showed one of the smallest reductions in Europe in terms of arrivals caused by the pandemic. The ministry said total arrivals to the island in the first eight months of the year reached 2,881,631 passengers.   For the same period in 2020, a total of 1,804,187 passengers arrived at airports islandwide.       Continue reading at source: Cyprus Read More

Cyprus Business Now: energy market and shipping industry updates

The Cyprus shipping industry met with the International Chamber of Shipping (ICS) on Tuesday, September 14, to discuss the various technical and environmental issues stemming from the implementation of the pertinent European Union and International Maritime Organization rules. The ICS is the global trade association for shipowners and operators and represents the world’s national shipowner associations, as well as more than 80 per cent of the world merchant fleet.       Continue reading at source: Cyprus Read More

President Anastasiades begins official visit to Bahrain

President Nicos Anastasiades is in Bahrain on an official visit during which an MoU on Financial and Technical Cooperation and a Visa Waiver Agreement for diplomatic, special, and official passports are expected to be signed. Upon his arrival at Bahrain International Airport on Sunday, the President was received by the Minister of Foreign Affairs, Dr. Abdullatif bin Rashid Al Zayani and the Minister of Youth and Sports Mr. Ayman Al-Moayed.       Continue reading at source: Gold Read More

The 9th Invest Cyprus International Investment Awards: Exness

On September, Wednesday 8, under the auspices of President Nicos Anastasiades, the ceremony for the 9th Invest Cyprus International Investment Awards took place in the lawns of the Presidential Palace, celebrating foreign companies for the investments they made and their contribution to the business world of the country. Exness was one of the companies to receive an award.    Continue reading at source: Gold Read More

Water taxi service from Paphos to Latchi and Akamas National Park on the cards

A private water taxi service from Paphos to Latchi and the Akamas National Park in less than an hour will be provided by Latchi Wibit Ltd, Philenews reported on Wednesday. The private company’s alternative Akamas Eco Fast Ferry/Sea Taxi plan aims to transport up to 250 passengers by catamaran boat from the port of Paphos to that of Latchi in 55 minutes.   Continue reading at source: Read More

Cyprus Business Now

The Cyprus Statistical Service has released a report showing that the first six months of the year saw a total of 3,990 building permits being issued by the relevant municipal authorities, reflecting a year-on-year increase of 25.5 per cent. The same period during 2020 saw a total of 3,153 building permits being authorised.   In terms of their value and total area, there was a year-on-year increase of 20.5 per cent and a year-on-year increase of 31 per cent Read More

Cyprus Business Now

Venus Minerals Managing Director Peter van der Borgh said that Cyprus has a ‘significant average gold content in a copper-rich area’ in Troodos. “The results of the sampling from the remaining eight drillings in the area, which are expected soon, will further strengthen the assessment of the economic viability of the mineral resources for the whole Kokkinogia deposit (JORC estimate), with the inclusion of a significant amount of gold,” van der Borgh told local outlet InBusiness News.   “We are very Read More

Bank of Cyprus emerges from pandemic with €894mn new lending, 96% loan performance

Bank of Cyprus announced on Wednesday delivery of a robust performance in the first half of 2021: Revenue and profit is up, new lending has jumped to €894 million, and 96 per cent of loans that had been covered by the moratorium are now making regular payments. Total income and profit were strong, but limited by exceptional charges. Total income was at €152 million for the second quarter of 2021, up 11 per cent from the previous quarter. After-tax profit Read More

US ambassador at Lara for release of baby turtles (photos)

The US Ambassador visited Lara Bay in the Akamas on Tuesday morning where she observed the release of newly hatched baby turtles into the sea. Judith Gale Garber, who previously served as Assistant Secretary for Oceans, Environment, and Science at the State Department, thanked the Fisheries Department for their work, noting that the area hosts about 300 turtle nests, and their protection was really important.   Continue reading at source: Cyprus Read More

Cyprus Business Now

Tourism generated a total revenue of €135.8 million for Cyprus during June of 2021, a number achieved in spite of a number of travel restrictions still in place during that period. While this is of course an improvement over the summer of 2020, a period during which severe measures had crippled the global travel industry, it still represents a 61.2 per cent decrease over the same period in 2019.   Moreover, according to the Cypriot statistical service, the total Read More

Ministry announces re-evaluation of epidemiological situation in three countries

The Ministry of Health announced on Monday a re-evaluation of the epidemiological situation in various countries as regards COVID-19. The changes, that will come into effect on Thursday 2 of September, concern Andora and Malta, which move from the red category to the orange category and Germany, which moves from the orange to the red category.   Continue reading at source: Read More

Cyprus President Receives Credentials Of New Ambassadors Of Austria, Romania And Palestine

President of Cyprus Nicos Anastasiades, received on Friday separately the credentials of the new Ambassadors of Austria, Romania and Palestine to Cyprus. Receiving the credentials, the President thanked the Ambassadors of the three countries for the principled stance on the Cyprus issue and the consistent support on the efforts to reach a lasting and comprehensive settlement, based on the relevant UN Security Council resolutions. He added that despite the setback, the government maintain its commitment and decisiveness to continue and Read More

Cyprus’ Paralympic swimmer Karolina sets new world record

Cypriot Paralympic swimmer Karolina Pelendritou set a new world record on Friday in Tokyo with a time of 29.92 seconds in the women’s 50m freestyle S11, a first ever sub-30 swim. Pelendritou will now compete in the final of the same event, which will take place at noon Cyprus time.   The athlete arrived in Tokyo already holding the previous world record in the same category, which was beaten by China’s Ma Jia in heat 1, who set a Read More

Coronavirus: Ministry calls for hotels to continue discounted rooms scheme

Hotels and other tourist units in Cyprus have until Monday to apply to take part in a state scheme that offers stays partially funded by the state to people who have has a Covid vaccine or are recovering from infection, the tourism ministry said on Tuesday. The programme allows for citizens and permanent residents of Cyprus to enjoy a 35 per cent discount on their hotel room for a minimum three-day stay, provided they meet the relevant Covid criteria.   Read More

Cyprus to host environmental UN ministerial summit

Cyprus will host the 9th Ministerial Summit for the Environment and Sustainable Development Education of the Economic and Financial Committee of the UN in October 2022, Education Minister Prodromos Prodromou said on Tuesday. A briefing meeting about the summit took place at the ministry and Prodromou said the agenda includes issues such as circular economy and education on sustainable development and tourism. He said that it is an honour for our country to host this international summit.   Continue reading Read More

Cyprus Health Ministry Releases Vaccination Numbers

Cyprus` Ministry of Health has said that 72.3% of adults and more than 25% of the ages of 16-17 have completed their vaccination regime. In a press release the Ministry said that until Monday 77.6% of the adult population (18+)  was vaccinated with at least the first dose and 72.3% with both doses. At least the first dose was given to 34.4% of people aged 16-17 years and 25.6% of this age group completed their Read More

Cyprus Business News

The total assets of investment funds increased by 11 per cent in June 2021 from March 2021, according to data released Tuesday by the Central Bank of Cyprus. Total assets of the investment funds increased to €7.3 million in June 2021 from €6.6 million in March 2021, the CBC said. The number of investment funds in June rose to 224 from 222 last March. The Cyprus Investment Funds Association currently has €9.8 billion in funds under management. the highest Read More

Cyprus, Greece and Israel FMs meeting to focus on enhancing regional cooperation

Cyprus Foreign Minister Nikos Christodoulides visits Israel on Sunday for a trilateral meeting of the Foreign Ministers of Cyprus, Greece and Israel. Their agenda includes ways to enhance regional cooperation, cooperation on health issues in view of the Covid-19 pandemic, and cooperation in responding to emergency situations such as wildfires, in view of the fires that broke out in the three countries recently, CNA has learnt.     Continue reading at source: Cyprus Read More

Ryanair: new winter routes to Germany, Poland

Ryanair airlines on Monday announced three new Cyprus routes for Germany and Poland for this winter. The new destinations concern Cologne and Memmingen in Germany, as well as Wroclaw in Poland.   “As Europe’s number one airline, we are thrilled to announce three new winter routes from Cyprus for those looking to enjoy a European city break this winter,” said Ryanair’s Director of Commercial, Jason McGuinness in a written statement.       Continue reading at source: Cyprus Read More

Cheaper electricity, water bills in Cyprus through green transition

The Cyprus Recovery and Resilience Plan 2021-2026 which aims to secure a green transition will reduce the island’s energy poverty through reduced electricity and water bills. At the same time, it will improve living conditions of households, Philenews reported on Friday. According to the Plan, there are more than 400,000 residential buildings and more than 30,000 non-residential buildings in Cyprus.   Continue reading at source: Read More

Newly hatched turtles caught on camera at Kiti beach (video)

Visitors at the Parasolia beach in Kiti on Thursday were thrilled to see scores of newly hatched baby turtles making their way to the water. The baby loggerhead sea turtles, (Caretta caretta), attracted many people who rushed to see them taking their first steps toward the sea.   Officials of the fisheries department went to the beach on Thursday where they confirmed the existence of 26 sea turtle nests.       Continue reading at source: Cyprus Read More

Larnaca eyes more development projects

Larnaca Municipality is pressing ahead with development plans for the town that include a centre on underwater archaeology and the relocation of some municipal offices to the old hospital, its mayor Andreas Vyras told the Cyprus News Agency. Other plans include the renovation of Alkis and Acropolis Square, the reconstruction of Melathron Evgirias centre, the relocation of the Home for the Elderly and the unification of the Archaeological site of Ancient Kitium, the Mosaic “Labour of Hercules” and the Archaeological Read More

President Thanks Cypriots Who Assisted In Firefighting Effort In Greece

Cyprus President Nicos Anastasiades has expressed his gratitude to Cypriots who assisted in the firefighting effort in Greece. In a message on Twitter, President Anastasiades said he had been in touch with the head of the team on behalf of the Fire Service Demetris Katsiflis and the head of the Civil Defence team Chrysilios Chrysiliou "to express my gratitude for their contribution in putting out the fires."   Continue reading at source: Gold Read More

Fledgling ‘Register of Self-Catering Accommodation’ gets positive response

A large number of owners of self-catering holiday let accommodation in Cyprus had all necessary documents and evidence required by the fledgling ‘Register of Self-Catering Accommodation’. This is administered by the Deputy Ministry of Tourism and the response came as a surprise considering that the set of regulations and rules to provide these services legally is demanding, Philenews reports.   Continue reading at source: Read More

Sami Revel: Relations Between Israel And Cyprus Are At Their Highest Level Ever

The relations between Israel and Cyprus are at their highest level ever, the Ambassador of Israel to Cyprus, Sami Revel told CNA, adding that “the most important thing that we did is to create a link between the future generation of Israel and the future generation of Cyprus." Before leaving Cyprus – his term as the Israeli Ambassador comes to an end after three and a half years – Revel stressed the importance behind the cooperation of the two Read More

Cyprus announces new country categorisation concerning COVID-19

New changes have been announced by the Epidemiological Monitoring Unit  of  the  Ministry of Health as regards the categorisation of countries based on new epidemiological risk assessment and they will come into effect from Thursday, 12th August. Specifically, Croatia, Sweden and Serbia are moved from Green Category to Orange. Estonia, Lebanon and Israel are moved from Orange category to Red.   Continue reading at source: Read More

Ryanair announces new route to Paphos from Newcastle

Ryanair has announced a new base opening in Newcastle for Summer ’22, with a new roundtrip route added to Paphos. Ryanair said that there is “massive demand,” in a statement on its website.   It’s part of opening a new base in this northeast England city, with two based aircraft, 63 departing flights per week and 19 routes in total, including 12 new connections to international destinations across Europe.       Continue reading at source: Cyprus Read More

European basketball giants coming to Cyprus

European basketball royalty will be in Cyprus next month for the second edition of the Neofytos Chandriotis international basketball tournament. Taking place at the Tassos Papadopoulos – Eleftheria Stadium in Nicosia, the event will take place between 9-12 September and features eight-time European champions CSKA Moscow, Israeli and Greek giants Maccabi Tel Aviv and Olympiakos, and Russian outfit Zenit St Petersburg.     Continue reading at source: Cyprus Read More

Final touches as Neo Plaza readies September opening

Work is almost completed on Neo Plaza, the island’s first discount village which will open its doors in September with 45 stores in Kokkinotrimithia. The last construction work on the new shopping and recreation centre Neo Plaza continue at a fast pace, the company said in a press release on Thursday.   The asphalting of the parking lots, the paving of the sidewalks and installation of hidden lighting have been completed while the final touches remain such as the planting of trees Read More

Cypriot scientist receives recognition for environmental work

Cypriot scientist Dr Despina Serghides has won a place in the list of 12 internationally recognized “Life-Pioneers” in the section ‘Energy, Buildings and Sustainable Cities for her contribution to the global promotion of renewable energy sources. The professor from the Cyprus Institute was given the award at a ceremony that took place during the World Conference on Renewable Energy Sources (WREC 2020) at the Department of Civil Engineering and Architecture of Lisbon.       Continue reading at source: Cyprus Read More

Cyprus President congratulates Limassolian sailing star Pavlos Kontides

President Nicos Anastasiades has congratulated Cypriot sailing star Pavlos Kontides who ranked fourth on Sunday in the Men’s One Person Dinghy category in Tokyo’s Olympics. “Keep raising the bar higher and higher, you are a shining example for every Cypriot athlete,” the President said in a Tweet.   Continue reading at source: Read More

Five star ranking for European University from QS Top Universities

European University Cyprus ranks among 72 top universities in the world that have been granted a 5-Star assessment by the international ranking organisation QS Top Universities. Following the global assessment by QS Stars University Ratings concluded in June, European University Cyprus secured the top rating of 5 Stars (rated excellent) for its overall standing and performance as well as 5 Stars in the areas of teaching, employability, internationalisation, online learning, inclusiveness and medicine (MD Medical Doctor Programme).       Read More

Enhancing Cooperation For Research And Innovation

Enhancing the cooperation between Cyprus and Greece in the field of Research and Innovation dominated the agenda of the contacts of the Chief Scientist for Research and Innovation Foundation (RIF) Nikolas Mastroyiannopoulos with government and business officials in Athens from 28-30 July. The Chief Scientist, along with a delegation, held meetings with Greek Deputy Minister for Research and Technology Christos Dimas and Secretary General of Research and Technology Athanasios Kyriazis.   Continue reading at source: Gold Read More

Immunity of the population expected at the end of August

The vaccination program of Cyprus continues at a quick place, since so far 970,000 vaccinations against Covid-19 have been made. It seems that there are several citizens who choose the walk-in service since more than 8,000 vaccinations have been made since the day the program was launched. Permanent Secretary of the Ministry of Health, Christina Yiannaki yesterday visited the “Walk In” centre that started operating at the Cyprus University of Technology in Limassol where students went ahead and had their Read More

Upgrade for ancient Idalion

Transport Minister Yiannis Karousos on Wednesday presented a €1.65m project to fund the construction of an archaeological park at the ancient administrative acropolis of Idalion, aiming to the promotion of cultural heritage as a means of local development. Speaking after visiting the museum and archaeological site, Karousos announced the official completion of the 30-month project, which started in November 2017 and which was completed in July this year after its deadline was extended.       Continue reading at Read More

Cyprus announces new country categorizations after re-evaluating epidemiological situation

Following a decision of the Council of Ministers, on 18 February 2021, regarding the Action Plan for the gradual resumption of flights and the re-opening of airports, the Epidemiological Monitoring Unit of the Ministry of Health has made a re-evaluation of the epidemiological situation in various countries as regards COVID-19. According to a Ministry of Health announcement, circulated by PIO, the categorization for the countries of the European Union and the European Economic Area (Iceland, Liechtenstein, Norway) as well as Read More

Major Lebanese business moves to Cyprus

Lebanon’s leading events design group is making a definitive move to Nicosia. A few weeks ago, Elias Krim finalised the process of moving his company which specialises in outdoor and indoor decorations for special events, from Beirut to Nicosia, driven by the untenable conditions in Lebanon today.   From the quiet shores of Larnaca’s Finikoudes, CEO and co-founder of Hadel group Elias Krim told the Cyprus Mail why he chose Cyprus as a final destination.       Continue reading Read More

Cyprus Foreign Minister begins working visit in Israel

Cyprus Foreign Minister Nikos Christodoulides on Monday begins a two day working visit to neighbouring Israel at the invitation of his new Israeli counterpart Yair Lapid who took office a month ago. The two officials will first have a tête-à-tête meeting followed by extended consultations with the participation of official delegations of the Ministries of the two countries.   Continue reading at source: Read More

First woman appointed as Permanent Representative of Cyprus to UN

Ambassador Olympia Neocleous has become the first woman to be accredited as Permanent Representative of Cyprus since the establishment of the Permanent Mission of the Republic in Geneva in the 1970s. According to a foreign ministry announcement, Neocleous presented her credentials as Permanent Representative of the Republic of Cyprus, at a special ceremony held on Thursday to Director-General of the United Nations Office in Geneva (UNOG), Tatiana Valovaya.     Continue reading at source: Cyprus Read More

Eurobank Announces The Acquisition Of A 9.9% Holding In The Hellenic Bank

Eurobank S.A. (“Eurobank”), subsidiary of “Eurobank Ergasias Services and Holdings S.A.” (Eurobank Holdings), announces the acquisition of a 9.9% holding (40,800,000 shares) in Hellenic Bank Public Company Limited (“Hellenic Bank”).   Continue reading at source: Gold Read More

RCB Bank’s credit rating affirmed, Outlook upgraded to positive by Moody’s

Moody’s Investors Service has affirmed RCB Bank’s deposit rating and upgraded its outlook from stable to positive in its newly published and updated press release on the Bank. RCB Bank’s rating by Moody’s has remained unchanged at B1, which constitutes the highest rating among Cypriot banks. In addition, its outlook has been upgraded from stable to positive. This stability in the Bank’s rating and the change of its outlook to positive gains more importance, given a pandemic-induced fragile economic environment. Read More

Coronavirus: New SafePass regulations from Tuesday

The decree enforcing the latest SafePass measures in all indoor and outdoor areas with more than 20 people comes into force on Tuesday. Beaches, parks, linear parks, dams, nature paths and excursion areas are exempted.   In an explanatory Q&A after the tougher SafePass rules were announced on Friday, the health ministry said the requirement applies to all indoor and outdoor areas as well as buildings where, adhering to distancing measures and the guidelines and health protocols, it is possible for more Read More

Minister of Energy Presents Green Transition Strategy, Aiming at Zero Emissions by 2050

Cyprus’ Minister of Energy, Trade and Industry Natasa Pilides, presented Friday the strategy of the Ministry for a rapid transition to a green economy, aiming to reach an economy of low to zero emissions by 2050. The strategy was presented during a workshop held in Nicosia, where local stakeholders discussed also the forthcoming revision of the Cyprus Energy Strategy, based on the new, ambitious legislative framework announced on July 14, by the European Commission for the first climate neutral continent Read More

Scheduled flights to Cyprus in the hundreds for fully vaccinated British visitors

Cyprus expects a substantial number of fully-vaccinated British visitors before the month’s end now that the UK kept the Mediterranean island on its amber list even tough new covid-19 cases are on the rise in recent days. The latest review of the list was announced late on Wednesday – much to the relief of Cyprus’ tourism representatives who feared a possible downgrade.   Continue reading at source: Read More

ECB Starts Next Digital-Euro Stage with Investigation Phase

The European Central Bank took a major step toward a digital euro on Wednesday, approving an “investigation phase” that could ultimately lead to a virtual currency being implemented around the middle of the decade. The next stage will last 24 months and aims to address key issues on design and distribution, the ECB said in a statement.   Continue reading at source: Gold Read More

Health Ministry Updates Epidemiological Risk Assessment Of Countries

Cyprus' Ministry of Health announced on Monday an updated categorisation of countries based on their epidemiological risk assessment. The new categorisation, which will come into force on July, Thursday 15 includes the following changes: Sweden and Latvia move from the orange to the green category, Belgium, Greece and Luxembourg move from the green to the orange list, while Portugal moves from the orange to the red category.   Continue reading at source: Gold Read More

Next steps for Cyprus on minimum corporate tax

The Cyprus government is already at work to find a solution for the country on the OECD minimum corporate tax proposal that has been agreed to by the G7 and G20 political forums. On June 11, major stakeholders including the Institute for Certified Accountants,  the Cyprus Bar Association,  the Cyprus Employers and Industrialists Federation – just to name a few – met with Cyprus Chamber of Commerce and Industry (CCCI) officials in an effort to draft a proposal for the Read More

Camping sites for tourists

The Deputy Ministry of Tourism talks about upgrading the quality of our tourism product, the local hotels and recreational places, both in terms of the buildings and facilities and the service provided. This same deputy ministry is now encouraging the development of organised camping sites within ‘non-habitable areas’. The proposal indicates that the camps are to be set up in wooded areas.     Continue reading at source: Cyprus Read More

Health Minister Announces New Measures To Contain Pandemic Spread

Cyprus Health Minister Michalis Hadjipantelas announced, on Wednesday, a package of new measures which will be in place from Friday, July 9 until the end of July to contain the spread of the coronavirus pandemic with the focus being crowded areas and social events where clusters of new cases have been observed affecting mainly young people. He urged all people who have not yet been vaccinated to do so as soon as possible, to protect themselves and to contribute in Read More

Cyprus introduces Digital Covid Certificate restoring travel freedom

Cyprus on Thursday followed suit with the rest of Europe and introduced the Digital Covid Certificate to restore freedom of movement in Europe. The paper or digital pass is proof a person is immunized, has tested negative for Covid-19, or has received a vaccine. It includes a QR code to secure citizens’ data.   Continue reading at source: Read More

Capital Intelligence Affirms Hellenic Bank’s Ratings With A Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Hellenic Bank (HB) at ‘BB-’ and ‘B’, respectively. At the same time, CI Ratings has affirmed HB’s Bank Standalone Rating (BSR) of ‘bb-’. The Outlook for the LT FCR and BSR remains Stable. The Bank’s BSR is derived from a Core Financial Strength (CFS) rating of ‘bb-’ and an Operating Environment Risk Anchor (OPERA) of ‘bb-’, Read More

Coronavirus: Greece and five other EU nations move into green

Greece and five other EU countries were upgraded to the green category for entry to Cyprus as part of the changes in the latest national country assessment for travel, the health ministry said on Monday. With the changes to come into effect on July 1, the health ministry said previously orange Croatia, Estonia, France, Greece, Lithuania, Luxemburg and Slovenia will be moved to the green category, as well as Switzerland and Liechtenstein from the red.     Continue reading at Read More

Cyprus airports to accept EU Digital COVID Certificate as of July 1st

The Cabinet that convened Wednesday, amended the Action Plan for the operation of airports to include the EU Digital COVID Certificate (EUDCC) which will be issued by the EU Member States, as well as by the countries of the European Economic Area and by the Switzerland. The Cabinet was chaired by Acting President of the Republic, President of the House of Representatives, Annita Demetriou, due to the absence of the President of the Republic, Nikos Anastasiades, abroad.   Continue reading Read More

‘Big day’ for Cyprus on Innovation scoreboard

The European Innovation Scoreboard made public earlier this week testifies to the progress Cyprus has made in innovation, the Republic’s chief scientist Dr Nicolas Mastroyiannopoulos said on Wednesday after a meeting with a Disy delegation. The delegation was made up of Disy president Averof Neophytou, spokesman Demetris Demetriou and the party’s director for communication, innovation and digital Stavriana Kofteros.   Citing the scoreboard, Kofteros noted that Cyprus was among the five EU countries with the best improvement in innovation.   Read More

Photo captures cruise ships ‘hovering’ in air off Limassol

A photo of three cruise ships off Limassol that appear to be hovering in the air generated keen interest on social media on Wednesday, with both the person who took it and a weather expert referring to a mirage or Fata Morgana. Michalis Michael posted photo on the Kairofiloi Kyprou (weather enthusiasts of Cyprus) groups on Facebook, showing three cruise ships in the sea east of Limassol hovering over the water.   Michael said a Fata Morgana mirage was seen Read More

Coronavirus: health ministry updates country categories

The health ministry on Monday issued new country guidelines for travel, moving some countries from orange to green and others from red to orange. The changes come into effect from Thursday.   The following countries have moved from orange to green:AustriaBulgariaCzech republicHungaryGermanyItalyFinlandSlovakiaNorway   Continue reading at source: Cyprus Read More

Bank of Cyprus places €300mn bond

Bank of Cyprus announced on Thursday that it has successfully completed the issuance and sale of a €300 million high-priority bond through its European Medium-Term Bond Loan Program (EMTN Program), the bank said in a statement on Thursday. Officially issued in combination with the bank’s holding, this is a programme that maintains regular issuance throughout a given period.   Continue reading at source: Cyprus Read More

New classification of countries based on epidemiological condition issued

The Health Ministry on Monday announced its new classification of countries based on their epidemiological condition which affects travellers from those countries coming to Cyprus. The new rankings which come into effect on Thursday have Poland and Romania upgraded from Orange to Green, Japan moved from Red to Orange and Croatia falling from Orange to Red. The categories are in line with the guidelines of the European Centre for Disease Prevention and Control (ECDC).   Continue reading at source: Read More

Energy Minister Satisfied Over Cyprus Inclusion In Energy Networks Regulation

Minister of Energy, Trade and Industry Natasa Pilides expressed her satisfaction for the inclusion of a nominal reference to Cyprus, which ensures its interconnection with the trans-European energy networks, in the relevant revision of the Regulation on energy networks. The specific reference to the Trans-European Energy Networks Regulation, which has been the focus of discussions with the EU Hydrogen Strategy, provides Cyprus with access to future markets, such as hydrogen, through the stay and inclusion of existing Projects of Common Read More

British PM and UNSG discuss the Cyprus issue on the sidelines of G7 summit

The Cyprus peace process was among the issues which the G7 summit host, British Prime Minister, Boris Johnson, discussed with the UN Secretary-General, António Guterres. Downing Street said that Johnson gave his support to Guterres’ vision for a more integrated UN and reiterated the UK’s support for a strong United Nations and joined-up global action on issues like pandemic preparedness and climate change.       Continue reading at source: Cyprus Read More

Cyprus extends incentive scheme for airlines till end of 2021

The Cyprus Council of Ministers approved today the extension of an incentives scheme to airlines to address the effects of the Covid-19 pandemic on the connectivity of Cyprus, with a total budget amounting to €8.8 million. A press release issued by the Ministry of Transport, Communication and Works says that the scheme, also approved by the European Commission, aims to restore air connectivity, which would contribute to the development of the air transport sector, will support tourism and the Read More

Cyprus authorities begin issuance of COVID vaccination certificate for travels in June

Cyprus` Health Ministry will begin on Tuesday the issuance of a COVID vaccination certificate for those wishing to travel in June. The Ministry in an announcement clarifies that this is just a temporary measure in lieu of the European digital certificate. It also points out that those who are traveling to Greece they do not need to have the vaccination certificate but have to show the Cyprus vaccination card.   Continue reading at source: Read More

Luxury cruise liner in Limassol to prepare for summer routes

Royal Caribbean’s Jewel of the Seas has arrived at its home port in Limassol to prepare for the start of its seven-night cruises from Cyprus in July. The 13-deck vessel will pick up crew members and return to its anchorage near Limassol port’s until the cruise programme starts. The ship can accommodate 2,702 passengers but due to the pandemic, it will not exceed 70 per cent of its capacity for this season. It has 1,097 rooms, a waterpark, a 1,250-seat Read More

Reopening of checkpoints in divided Cyprus a sign of return to “normality”

As checkpoints in divided Cyprus are reopening on Friday after a year and a half of closure due to the coronavirus, President Nicos Anastasiades and Turkish Cypriot leader Ersin Tatar will hold a teleconference on Thursday. Cyprus is divided since a 1974 Turkish invasion and its Greek Cypriot and Turkish Cypriot populations are confronted with a number of designated checkpoints controlling movements between the breakaway north and the free area. The sealed checkpoints up-ended the lives of thousands who would cross Read More

Foreign Minister: US Intend To Play A More Active Role In EastMed

Cyprus` Foreign Minister Nikos Christodoulides said that the Biden administration intends to assume a more active role in the Eastern Mediterranean, which is seen as a positive development by the Cypriot government. In an interview with the Greek website ethnos.gr, Minister Christodoulides referred to his first telephone conversation with his US counterpart Anthony Blinken. According to the Cypriot Foreign Minister, Blinken expressed the strong commitment of the US to the region and the intention to play an active role Read More

Coronavirus: Six European countries upgraded to Orange

Cyprus on Monday upgraded six countries in its categorisation for arrivals based on the epidemiological data, effective from June 3. Austria, Bulgaria, Czech Republic, Hungary, Italy and Poland have been upgraded to the orange from the red category, the health ministry announced.   Also in the orange category are Portugal, Ireland, Finland, Romania, Norway, China (including Hong Kong and Macau), the UK and the USA.       Continue reading at source: Cyprus Read More

Coronavirus: New measures from June 1

The health ministry on Monday reiterated the new measures that will come into force as of June 1 as coronavirus restrictions are reduced as the coronavirus indictors on the island improve. As daily cases have recorded a near 95 per cent drop since their high on April 20, the maximum number allowed to attend various events and activities has been raised, with certain restrictions and requirements still in place.   The revised set of measures was approved by the cabinet Read More

Landmark Hotel in Nicosia to get a lifting of 40 million euro

The renovation of the Landmark Hotel (former Hilton) in Nicosia will start soon and cost over €40 million now that the Environment Authority has given the green light and construction works are expected to finish in two years. Approval has also been granted for the the construction of two residential towers 64 meters high next to it, Philenews reported on Thursday.   Continue reading at source: Read More

Cooperation Between US And Republic Of Cyprus Is At A Historic High, Bureau Of Political-Military Affairs Says

The United States views the Republic of Cyprus (ROC) as an important partner for regional stability, security, and prosperity, and works closely with the ROC to advance shared security priorities in the Eastern Mediterranean region, a fact sheet of the US State Department Bureau of Political-Military Affairs says, adding that cooperation between the United States and the ROC is at a historic high. It notes that in late 2018 the United States and the ROC signed a Statement of Intent Read More

EU Commission agrees to tender changes for Cyprus-Greece ferry link

The European Commission has agreed to changes in the tender framework for a planned ferry link to Greece, raising hopes the long-discontinued service could attract interest from potential bidders, deputy shipping minister Vasilis Demetriades said on Wednesday. Efforts, underway for several years to restore a ferry link between Cyprus and Pireaus, took a blow earlier last year when an invitation for tenders approved by the EU’s DG Competition failed to attract any bids.   Continue reading at source: Cyprus Read More

Cyprus Receives €124 Million Under EU’s SURE Instrument

The European Commission has today disbursed €14.137 billion to 12 EU Member States in the seventh instalment of financial support under the SURE instrument. As part of today's operations, Belgium has received €2 billion, Bulgaria €511 million, Cyprus €124 million, Greece €2.54 billion, Spain €3.37 billion, Italy €751 million, Lithuania €355 million, Latvia €113 million, Malta €177 million, Poland €1.56 billion, Portugal €2.41 billion and Estonia €230 million. This is the first time that Bulgaria Read More

Mayors briefed on €13m road project in Famagusta area

Transport Minister Yiannis Karousos with Interior Minister Nicos Nouris on Friday briefed the mayors of Dherynia and Sotira on a tender announcement for improvement works on the road connecting the two municipalities. The project is estimated to cost around €13 million and is expected to begin before the end of 2021 and finish within a 30-month window. Eighty per cent of the funds will be provided by the state, with the rest covered by local authorities. As well as a Read More

Coronavirus: Cyprus expects to be on UK green list in one or two weeks

Cyprus’ improved epidemiological picture might help put the country on Britain’s green list within one or two weeks, a tourist industry professional said on Friday. The significant drop in the island’s 14-day cumulative diagnosis rate to 431.6 from 689.3 per 100,000 residents moved Cyprus from the dark red to the red category based on the European Centre for Disease Prevention and Control (ECDC). The improvement is expected to translate into placement on the UK’s travel lists. It was Read More

Cyprus’ new categorisation of countries based on their Covid-19 situation

Cyprus’ Epidemiological Monitoring Unit of the Ministry of Health has reassessed the Covid-19 situation in other countries and has decided to publish a new categorisation of countries according to their current situation. In effect as of Thursday the new categorisation provides the following: Green Category representing countries with a low risk includes Australia, New Zealand, Singapore, Saudi Arabia, North Korea and Israel (third countries).   Continue reading at source: Read More

Facemask decree could be revisited in June

Cyprus is expected to reassess the mandatory face masks in outdoor areas by June, in accordance with the process of the national vaccination plan, health ministry advisors told the Cyprus Mail on Tuesday. As temperatures rise in Cyprus, locals are inpatient to ditch masks while outside. Facemasks were imposed as of mid-October last year.   Continue reading at source: Cyprus Read More

Cyprus had highest number of marriages relative to the population in EU for 2019

The long-term trend in the European Union shows that the number of marriages is decreasing, while the number of divorces is increasing, according to data released today by Eurostat, the statistical service of the EU. Since 1964, the marriage rate in the EU has declined from 8.0 per 1,000 persons in 1964 to 4.3 in 2019. At the same time, the divorce rate has more than doubled, increasing from 0.8 per 1,000 persons in 1964 to 1. Read More

Kokkinos: Cyprus To Implement Green Pass, Safe Pass Will Not Be Digitalised

The Deputy Ministry of Research and Innovation has decided not to proceed with the digitalisation of the Safe Pass (Cyprus immunity certificate), but to directly implement the Green Pass (European digital immunity certificate), which is being prepared by the European Union and is expected to be implemented in June. In statements to CNA Deputy Minister for Research and Innovation Kyriakos Kokkinos said that based on the data we have before us, the Green Pass will be ready for implementation the Read More

Coronavirus: Cyprus now fourth in website’s EU jab table

Cyprus has climbed to fourth place among EU states in terms of the number of vaccine doses per 100 people in the total population, the health ministry said on Wednesday as it announced that ages 22-24, 50-55 and 56-58 will be able to book appointments on Friday, Saturday and Sunday. As of May 11, the ministry said that 39.6 per cent of the adult population (293,180 people) have received the first jab and 12.4 per cent (91,459 people) Read More

Traffic At Larnaca & Paphos Airports Is Picking Up

Around 60 flights, departures and arrivals, will take place on Monday at Larnaka and Paphos International Airports, according to Maria Kouroupi, Senior Manager Aviation Development, Marketing and Communication. She told the Cyprus News Agency (CNA) on Monday that the last few days at Larnaca Airport are a reminder "of the good old days when there was high number of arrivals". However, she said, "we are very far from the number of flights that we used to have at this specific Read More

Cyprus takes a step towards normality as of Monday, Health Minister says

Cyprus on Monday will take a step towards the return to more normal rhythms of social and economic activity when the current coronavirus lockdown ends and the so-called Safepass comes in effet. This is what Health Minister Constantinos Ioannou has said adding that this step is the result of many months of sacrifices for which the government owes a debt to all citizens, both individually and as a whole.   Continue reading at source: Read More

Coronavirus: Vaccine programme benefits seen, portal to open Monday for those aged 29 and 30

A total of 354,264 vaccines had been administered in Cyprus by Saturday, the ministry of health announced on Sunday, representing 40.3 injections per 100 residents. Of these 270,101 (36.5%) were the first dose and 84,163 (11.4%) the second. According to the latest data released by the European Centre for Disease Prevention and Control (ECDC), this puts Cyprus in sixth place in the EU in terms of giving the first dose, and higher than the EU average of Read More

China and Cyprus: building bilateral ties

China’s Ambassador to Cyprus, Liu Yantao answers the Cyprus Mail’s questions on issues ranging from relations between the two countries and health cooperation on the pandemic to Hong Kong and relations with the West This year marks 50 years of diplomatic relations between Cyprus and China, relations that have been friendly and problem-free. How do you see them developing? Cyprus has been our good friend and partner. China-Cyprus friendship is based on mutual trust and shared values. Our bilateral ties Read More

Tourists will only need to have the CyprusFlightPass to move around

As of Monday, vaccinated tourists in Cyprus will only need to have the CyprusFlightPass they fill in before arrival to the island to be able to move around the holiday island. They won’t need to have either a CoronaPass or carry out any new Covid tests, according to Deputy Minister for Tourism Savvas Perdios.   Continue reading at source: Read More

Coronavirus: Cyprus will learn on Friday if on UK amber list

Cyprus is expected to be placed in the UK’s amber category according to assessment by experts it was reported on Tuesday, in anticipation of London’s announcement on which countries will fall into the red, amber or green categories based on Covid-19 risks. UK Trade Minister Liz Truss on Tuesday said Britain is set to announce the green list for countries that people can travel to on holiday shortly and will have the right procedures in place to ensure travel can happen safely.       Read More

Cyprus Airways Adds Sunny Malta To Its International Network

Cyprus Airways, the national flag carrier brand of Cyprus, continues to increase the number of its direct flights from Larnaca with the launch of its new direct flights between Larnaca and Malta, en-hancing Mediterranean interconnectivity. The inaugural flight from Larnaca to Malta will take off on June 27, with the schedule flying twice weekly to Malta International Airport every Wednesday and Sunday until the end of October. Some new routes are expected to be announced soon.   Continue reading at Read More

Coronavirus: almost 30% has received vaccine, SMS to stay after lockdown

There are no thoughts on scrapping the SMS requirements for leaving the house once lockdown measures are set to be lifted on May 10, Health Minister Constantinos Ioannou said on Saturday. Speaking to reporters after visiting the vaccination centre at the state fair in Nicosia, Ioannou said he was satisfied with the growing number of people getting vaccinated which is more than 218,000 people or 30 per cent of the population getting the first jab.       Continue reading Read More

Exceptions to the restrictive measures for Holy Saturday and Easter Sunday

In view of the Eastern holiday and in order to help people celebrate as best as possible but with safety, the following provisions of the health protocol are reminded: On Saturday before the Greek Orthodox Easter (1st of May) the curfew will begin at 01:00 am (morning of Sunday) so that church attendees can observe the Easter service outside churches (seated), or inside the churches for up to 50 persons. On all other days the curfew begins at 21:00.   Read More

Cyprus to participate in tests for COVID-19 digital certificate

The European Commission and 16 member-states will begin technical tests of the forthcoming system for the digital green certificate before this is adopted at a European level. An EU official briefed the Press in Brussels today. Cyprus is among the first “wave” of countries that will begin virtual technical tests in cooperation with EU services.   Continue reading at source: Read More

Limassol plans ‘Wall Street’ by the sea, starts on technology park

Limassol is planning to develop a financial district, ‘Wall Street’ by the sea; the long-awaited technology park is to begin development by yearend. “We are moving ahead with big improvements with the objective of bringing in international companies,” notes Andreas Tsouloftas, president of the Limassol Chamber of Commerce and industry, in an interview with the Cyprus Mail.       Continue reading at source: Cyprus Read More

Leaders lay out their positions to Guterres in Geneva

By Evie Andreou in Geneva The two leaders had the opportunity to each explain to UN Secretary-General (UNSG) Antonio Guterres their visions for the future of the island during the first day of the informal summit on the Cyprus problem that started in Geneva on Tuesday.   The first day was aimed at Guterres hearing the positions of the two leaders. He first met Turkish Cypriot leader Ersin Tatar and then with President Nicos Anastasiades.   After the meetings, which Read More

CySEC Launches a Temporary Permission Register for UK Firms

The Cyprus Securities and Exchange Commission (‘CySEC’)  established a Temporary Permissions Regime (‘TPR’) which does not require physical presence in Cyprus for UK firms when providing investment services (including when performing investment activities) solely to professional clients per se and eligible counterparties, based in Cyprus, by virtue of the CySEC Directive DI87-04(2) and of Policy Statement PS-02-2020 (see here). A Press Release on the subject matter was issued on 22 December 2020 (see here).   Continue reading at source: Gold Read More

One Fifth Of Population In Cyprus Vaccinated With First Dose

Cyprus has vaccinated 20% of its population with the 1st dose of a COVID-19 vaccine, while the vaccination program continues, giving the opportunity to people aged 43 and 44 to make an appointment on Monday. According to a press release by the Ministry of Health, as of April 23, a total of 236,265 vaccinations (26.8 doses per 100 inhabitants) has been administrated, of which 176,082 (20%) concerned the first dose and 60,183 (6.8%) concerned the administration of both Read More

Coronavirus: ministry issues more detail on lockdown diktats

The health ministry on Friday released a list of clarifications following the new lockdown announced earlier in the day.  According to the ministry, private and public nurseries and kindergartens must suspend operations. Special schools may continue operations based on instructions to be issued by the labour ministry. Social gatherings are banned, including lunch and dinner parties in homes for weddings and christenings.   Continue reading at source: Cyprus Read More

Cyprus Parklane Hotel opens for the summer

Parklane, a Luxury Collection Resort & Spa is now open! Parklane, a Luxury Collection Resort & Spa, is now open for the Summer 2021 season and ready to welcome you back!   This property is part of Marriott International’s highly prestigious The Luxury Collection, the world’s premier portfolio of luxury hotels and it is owned and operated by Parklane Hotels Limited. Situated in 25 acres of landscaped gardens on 300m of sandy beachfront in the vibrant city of Limassol, Parklane offers 274 sumptuous rooms Read More

Special Covid protocols under draft for Orthodox Easter mass attendance

With Orthodox Easter just around the corner authorities are warning that measures aiming to curb the coronavirus spread will only be slightly relaxed at churches because of the island’s alarming epidemiological condition. “Christ has Resurrected” greetings on Holy Saturday this year will only take place at church courtyards which are to be marked with special social distancing signs, insiders told Philenews.   Continue reading at source: Read More

Bank of Cyprus taps bond market for 300 million

Bank of Cyprus on Monday announced that it has successfully launched and priced an issue of €300 million unsecured and subordinated Tier 2 Capital Notes under its Euro Medium-Term Note (EMTN) Programme – the maximum amount possible under the rules for this kind of issuance. The bond issue was four times oversubscribed, attracting interest from more than 140 institutional investors, with the final pricing 37.5 basis points tighter than the initial pricing indication, and this accounted for a significant Read More

French financial software giant Murex chooses Nicosia for new location

Murex, the global leader in trading, risk management and processing solutions for capital markets, will bolster its regional footprint in the Europe-Middle East-Africa region with a new physical presence in Cyprus, the company said in a press release on Friday. Murex will bring more than 100 workers to the island, the statement said.   The establishment of international ICT companies on the island has been a top strategic priority for Invest Cyprus.       Continue reading at source: Cyprus Read More

Ministry Announces Changes In Epidemiological Risk Assessment Of Countries

The Ministry of Health announced on Monday changes as regards the categorisation of countries based on their epidemiological picture. The changes will come into effect on the 22nd of April. The changes concern the following countries: Denmark moves to the red category, Iceland to the green category, Ireland, Finland and Thailand move to the orange category. The Ministry says that following a decision of the Council of Ministers, on 18 February 2021, regarding the Action Plan for the gradual resumption Read More

Strategic Collaboration between Invel Real Estate, PRODEA Investments and Ioannis Papalekas Group

In the context of their strategic collaboration in the hospitality sector, Invel Real Estate, PRODEA Investments and the Cypriot based “YODA Group” of Mr. Ioannis Papalekas announce the conclusion of the acquisition of 45% of PRODEA’s interest in Mediterranean Hospitality Venture Limited (MHV) by a subsidiary of YODA Group. PRODEA Investments retains 45% in MHV while Invel Real Estate 10%, through a subsidiary. MHV, the sole shareholder of The Cyprus Tourism Development Company Limited, which owns The Landmark Nicosia, is Read More

Hellenic Bank sees 2020 profit after tax of €50.5mn

Hellenic Bank has posted its financial results for the previous fiscal year, exhibiting a solid foundation for the year to come, despite reduced profit and total net income due to the Covid-19 pandemic and its effects on the broader economy. The bank posted a total net income of €391.3 million, reflecting a 3 per cent drop year-on-year, as well as profit after tax of €50.5 million, a 53 per cent drop from the previous fiscal year. Both of Read More

EnergyIntel Group Signs Contract With Voici La Mode Group

The EnergyIntel Group announces the signing of contract for the PayGreen Energy Saving Solution with one of the biggest retail Companies in Cyprus, Voici La Mode Group. The contract was signed on March 11, 2021 and includes the installation of 2 Photovoltaic systems at Acropolis and Dhali buildings and another one at Strovolos Public parking place, for the total capacity of 385 KWp.  In addition, Voici La Mode has chosen to install Electric Vehicle Chargers in the parking areas Read More

Shipping Deputy Ministry announces inclusion of Cyprus in Seabourn Cruise Line’s programme

The Shipping Deputy Ministry announced on Thursday the inclusion of Cyprus in the Seabourn Cruise Line`s programme, which is a member of the Carnival Cruise Line. The addition of Cyprus became possible following coordinated efforts by the Shipping Deputy Ministry, the Ministry of Transport, Communications and Works and the Tourism Deputy Ministry, the Shipping Deputy Ministry says in a press release.   Continue reading at source: Read More

Cyprus to get vaccines for 2 million people

Cyprus President, Nicos Anastasiades, said on Wednesday that Cyprus has ordered and is ready to receive COVID-19 vaccines for two million people. Anastasiades, who made statements to the media after a visit he paid to the Vaccination Centre which operates at the State Fair in Nicosia, accompanied by Health Minister, Constantinos Ioannou, and other officials, noted that Cyprus is one of the first countries successfully implementing a vaccination programme, one of the first countries successfully carrying out PCR and antigen Read More

Cyprus welcomes Russian, Israeli tourists, waits for UK travel update on Covid restrictions

Cyprus welcomed tourists from Israel and Russia over the weekend as it waits for UK Prime Minister Boris Johnson’s full-scale travel update on Covid restrictions on Monday. From April 1, tourists from these countries vaccinated with a jab approved by the European Medical Association are not required to undergo a PCR test to travel to Cyprus. And they do not have to quarantine on the island, either.   Continue reading at source: Read More

“Pay As You Throw” program to be implemented all over Cyprus

The successful example of Aglandjia Municipality “Pay As You Throw” is expected to be implemented all over Cyprus with the new year. The target is to reduce the burial of biodegradable material, increase the amount of materials to be recycled and to prevent the establishment of waste. According to the program of the Aglandjia Municipality, waste is put only in prepaid special bags and at the same time garbage collection fees are abolished.   Continue reading at source: Read More

Post-Brexit British nationals in Cyprus to also be able to vote in municipal elections

Authorities are working on ways to pave the way for UK citizens living in Cyprus to also be able to cast a vote in municipal elections just like other European nationals. If you are an EU national living in another bloc member state, you have the right to vote and stand as a candidate in municipal elections in that country.   Continue reading at source: Read More

Coronavirus: cabinet meeting to discuss relaxations

Further relaxations of restrictive coronavirus measures was being discussed by the Council of Ministers on Wednesday morning. During the session, chaired by President Nicos Anastasiades, protocols which will be in place until April 24 will be decided upon.   According to the Cyprus News Agency, it is likely that gymnasium students will return to school on April 2 and the number of people allowed in gyms and other indoor sports facilities will increase depending on the size of the premises. Read More

Hellenic Bank appoints German finance specialist Oliver Gatzke CEO

Hellenic Bank has named Oliver Gatzke, a German banker with years of experience in both financial restructuring and fintech as CEO. The 52-year old Gatzke is well-known in European banking circles for his work in privatising and restructuring Hamburg Commercial Bank. “Gatzke successfully initiated the privatization of the bank and played a leading role in its financial restructuring. In addition, as CTO, Gatzke was responsible for the extensive business and IT transformation, including the bank’s strategic digitisation projects. ”said Chairman Read More

Tree planting for peace and for the environment

Ruling Disy announced on Saturday it would distribute one million trees in the next three years to plant the “seeds of hope” for a united Cyprus. In his statements after the tree planting ceremony of Disy’s Woman Organisation (Godisy) in Latsia early on Saturday, the leader of the party Averof Neophytou announced the party’s green initiative. “In the next three years, Disy will distribute one million trees. This is the party’s ‘green deal’ for Cyprus,” he said.   Continue reading Read More

EAC vision ‘a green energy future’

The Electricity Authority (EAC) is ready to move into a new energy era with the use of natural gas and renewable energy sources (RES), chairman of the board Michalis Komodromos told the Cyprus News Agency on Thursday. “Our goal is to contribute to the energy empowerment of Cyprus through the development of natural gas supply infrastructure. A project of special importance for the country,” he said.   Continue reading at source: Cyprus Read More

New phase of measures into effect in Cyprus as of Tuesday

A new set of measures comes into effect on Tuesday in Cyprus while the epidemiological situation remains worrisome and the state hospitals continue to admit patients with COVID-19. Figures released on Monday show that a total of 208 patients are getting treatment , 40 of whom are in serious condition or in an Advance Care Unit (ACU). The positivity rate in Limassol, where the situation is alarming, reached 1,72% yesterday.   Continue reading at source: Read More

‘Cyprus bookings up 840%’ – UK travel agency

“I just can’t wait to be back on the beach!” The words of Jo Pink, 48, who has already received both doses of her Covid-19 vaccination. Hopeful that the UK will lift travel restrictions on the 17th of May, she has booked an all-inclusive June getaway to Cyprus.  She is not alone. Cyprus’ recent announcement that vaccinated UK travellers would be able to enjoy restriction free travel to Cyprus from May 1 has further fuelled a travel industry recovery Read More

Coronavirus: Restriction free entry for vaccinated Brits from May 1

Starting on May 1 British nationals vaccinated against the coronavirus will be allowed entry into Cyprus without any restrictions, deputy Tourism Minister Savvas Perdios said on Thursday. “We have informed the British government that as of May 1 we shall facilitate the arrival in Cyprus of those British nationals who have been inoculated with vaccines approved by the European Medicines Agency, so that they can come here without needing a negative [Covid] test and without needing to quarantine,” Perdios told Read More

Cyprus IT firms partner with Lebanese colleagues, discuss Cyprus relocation

The Cyprus IT Community on Thursday announced its formal partnership with the Lebanese IT Syndicate, as an increasing number of Lebanese tech companies consider relocation to the island. The Lebanese IT Syndicate integrates the professional IT community in the country, while the Cyprus IT Community is the only active group of International IT and Tech business owners. At the virtual event today, the founders of the two groups will sign a Memorandum of Understanding for mutual cooperation.   Continue reading Read More

Cyprus implements EU directive on company ownership

Cyprus on January 4  activated the beneficial owners register, thus completing the transposition of the 4th AML Directive (Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing) into national law. On March 16, details of thousands of companies domiciled on the island will be collected  16 to be entered in a so-called Ultimate Beneficial Owner Read More

EU to propose vaccine certificates in time for summer holidays

The European Commission will propose this month an EU-wide digital certificate providing proof of a COVID-19 vaccination that could allow Europeans to travel more freely over the summer. The EU executive aims to present its plans for a “digital green pass” on March 17 and to cooperate with international organisations to ensure that its system also works beyond the European Union.   Continue reading at source: Read More

€4m scheme to promote bicycle as means of transport

Transport Minister Yiannis Karousos on Tuesday unveiled a €4m, 17-point plan of action aiming to encourage cycling as an alternative form of transport. He told a press conference that the programme was in line with EU initiatives to combat carbon emissions. The ministry wanted to make the bicycle part of peoples’ daily routines as a safe and reliable means of transport, as well as for exercise and recreation. Cycling promotes quality of life, improves health, reduces emissions and urban noise, Read More

Coronavirus: Three stages to easing of lockdown

Health Minister Constantinos Ioannou on Thursday announced the gradual return of high school pupils to their classrooms from March 1 as part of the next phase of relaxations. Restaurants are expected to be allowed to resume full operations from March 16. According to Ioannou, cabinet decided the return from Monday, March 1, of the remaining two classes of  lyceum pupils (grades 1 and 2) to their classrooms.     Continue reading at source: Cyprus Read More

Transformation of Nicosia into smart city officially gets underway

Nicosia will become the first smart city on the island, improving services and increasing sustainability, the municipality announced on Tuesday. The digital transformation of the capital got underway after the signing of contracts for the supply, installation and operation of smart city infrastructure between the municipality, Logicom Solutions and the Cyprus telecommunications authority (Cyta). The project, which is divided in two parts, is expected to be completed in three years while the first infrastructure and smart city systems will be Read More

Cysec Launches A Brexit Information Hub To Facilitate A Seamless Post-Brexit Transition

The Cyprus Securities and Exchange Commission (‘CySEC’), the financial regulatory Authority of Cyprus, has launched a dedicated section on its website to serve as a Brexit Information Hub (accessible here), aiming at facilitating a seamless navigation of Brexit related information and the compliance of interested parties with legal obligations following the transitional period of the UK’s withdrawal from the EU. The Brexit Information Hub is being launched in conjunction with the Temporary Permissions Regime (‘TPR’) which enables UK financial services firms that Read More

Dog park opens in Limassol

A specialised dog park has been created in Zakakiou, Limassol, which will cater to the “daily increase in the number of dog owners”, the municipality of Limassol said on Monday. The park is 8,000 square meters and has grass, trees and dog training equipment – ramps, tunnels and so on. The municipality said work on the park was carried out in consultation with various animal rights NGOs and state veterinarians.     Continue reading at source: Cyprus Read More

Cyprus welcomes Chinese buses featuring style and safety

The 200 King Long high-end city buses that arrived in Cyprus from Xiamen on May 27, 2020 are both stylish and safe for use in the pandemic. In what was the biggest export order for Chinese-made buses in the EU, two different models, the U12 and B12, have been imported to Cyprus. Both are stylish with a blue and white pattern design.   And the buses are equipped with the automatic spray system of the King Long Quan Health Bus, Read More

Government announces new housing schemes and incentives

New housing schemes and incentives with an emphasis on rural areas and young people were announced on Wednesday by the Government. The schemes, which were earlier approved by the Cabinet, aim at further supporting the economy and entrepreneurship. The new plans were unveiled in detail at a press conference at the Presidential Palace by the Interior Minister Nicos Nouris. In his speech President Nicos Anastasiades said that the Government wants to turn the rural and less privileged areas into attractive Read More

Revolut Opens Its European Bank To Customers In Cyprus

Revolut, the global financial platform with more than 15 million customers worldwide, has today operationalised its European specialised banking licence in Cyprus. Customers in Cyprus who upgrade to Revolut Bank for additional services will now have their deposits protected under the deposit guarantee scheme.  Customers in Cyprus are now able to upgrade to Revolut Bank for additional services from within the app. The upgrade process will only take customers a mere few minutes.   Continue reading at source: Gold Read More

Cyprus gains €8 billion in EU defence and security projects

In the coming years Cyprus stands to benefit substantially from funds allocated to defence and security projects via the EU’s Permanent Structured Cooperation (Pesco), MPs heard on Tuesday.  Deputy minister for Research, Innovation and Digital Policy Kyriakos Kokkinos briefed lawmakers on the actions being taken by Cyprus to participate in Pesco programmes and tap into a portion of the some €8 billion set aside by the EU for the 2021-2027 period.   Continue reading at source: Cyprus Read More

American University of Cyprus to target job creation

The American University of Cyprus (AUCY) will open its doors in Larnaca in September 2021, and its second campus, in Ayia Napa, still under construction will begin welcoming students in the near future. The new university, offering undergraduate and graduate courses largely in business, science and technology, will be the only university in Cyprus to follow the American model. It is intended to fill a gap in the Larnaca and Famagusta regions. Like American universities, AUCY will offer a robust Read More

Radisson announces second property, and serviced apartments in Larnaca

The Radisson Hotel Group is to open a string of new properties in Cyprus, according to a press release published on Friday.  The planned Radisson Beach Resort Larnaca will offer an additional 202 keys and will be the city’s first internationally branded resort when it opens this summer. Construction is also starting “in the coming months” on the island’s first branded serviced apartments product, also under the Radisson Blu brand. In addition, the recently signed strategic partnership with Sunnyseeker Hotels Read More

Plans for re-opening of airports move ahead

Speaking to Phileleftheros, Transport Minister Giannis Karousos, said that even though 2021 may not have started well for the country’s airports since arrivals in January were reduced by 90.5% compared to 2020, prospects for the improvement of the situation remain encouraging. The Minister said that the planning for the implementation, as of 1 March, of the Action Plan for the gradual resumption of flights and re-opening of airports, will not be reversed.   Continue reading at source: Read More

Nicosia and Athens convey “clear position” for Cyprus settlement in line with UN resolutions

Nicosia and Athens reiterated their readiness to attend an informal five-party conference on Cyprus, which the UN Secretary-General intends to convene soon, with the President of Cyprus, Nicos Anastasiades, and the Prime Minister of Greece, Kyriakos Mitsotakis, conveying on Monday their “clear position” that the form of settlement needs to be in line with UN resolutions. In statements after their meeting, at the Presidential Palace, in Nicosia, President Anastasiades and Premier Mitsotakis said they were in favor of abolishing “anachronistic Read More

Where to get rapid tests on Friday and over the weekend

A free screening program of rapid antigen testing is in progress the whole week for employees who are returning to their workplace on 8 February. Consequently, and in order to render possible the testing of all employees who will be returning to their workplace, the employees will be grouped alphabetically according to their surname. The testing units will, therefore, serve these employees as follows: Continue reading at source : News in Read More

Commissioner says children should be involved in running of schools

Children’s rights commissioner Despo Michaelides has expressed concern that domestic laws in Cyprus still do not fully comply with the provisions and principles of the Convention of Rights of the Child as regards education.  She also highlighted the need for better representation of children’s views in the running of schools through the student councils. In a report on the best interests of the child (BIC) in educational administration, Michaelides said that it was important to monitor the state’s budgetary allocations Read More

New Era For Cyprus As Forthcoming Arrival Of The Ritz-Carlton Residences, Limassol Is Officially Announced

Marfields Group today announced the signing of a milestone agreement with Marriott International, confirming the highly anticipated arrival of the first branded residences on the island, The Ritz-Carlton Residences, Limassol. Renowned as one of the world’s top three residential brands, The Ritz-Carlton Residences set the standard for refined experiences in the most vibrant locations around the globe, from New York to Singapore, Puerto Rico to Bangkok. The Residences now expand their global footprint to Limassol, Cyprus, offering an elevated lifestyle Read More

Paphos wins creative tourism award

Paphos has won another European award, the local tourism board has announced. The Paphos Regional Board of Tourism has been awarded, ‘Best Strategy in Creative Tourism Development 2020’, by the creative tourism network.   “The international network based in Barcelona, within the framework of the annual international awards for 2020, announced Paphos as the Best Strategy in Creative Tourism Development,” the Paphos tourism board said.       Continue reading at source: Cyprus Read More

Greek Prime Minister to visit Cyprus during the next days

Greek Prime Minister, Kyriakos Mitsotakis, will visit Cyprus during the next days for better coordination between Cyprus and Greece with a a view to jointly address challenges, Cyprus Government Spokesman Kyriakos Koushos, said in a written statement. Koushos noted that Cyprus President, Nicos Anastasiades, and the Greek Premier had a telephone conversation on Monday with a view to update each other on the current developments in the Cyprus problem, after the expressed intention of the UN Secretary – General to Read More

Cyta launches first 5G network in Cyprus

Cyta on Sunday announced the operation of the first 5G network in Cyprus by Cytamobile-Vodafone, “marking the beginning of a new era in the evolution of communications in our country”, the company said. In a presentation on social media, Cyta Chief Executive Officer Andreas Neokleous announced the operation of the new network of Cytamobile-Vodafone, which provides high speeds (up to 1Gbps) with increased simultaneous connection to thousands of devices, and new levels of speed.       Continue reading at Read More

Government Aims At Gradual Lifting Of Restrictive Measures

The Cyprus government aims at the gradual lifting of restrictive measures against the spread of COVID-19 in the context of a concrete plan, with a view to maintain the epidemiological outlook of the county at a level that will not jeopardize public health, Deputy Government Spokesman Panayiotis Sentonas said in a written statement. The statement was issued following a meeting of the advisory scientific committee on COVID-19 that took place on Monday at the Presidential Palace, under Cyprus President, Nicos Read More

Cyprus has talent – InvestCyprus

Cyprus is evolving, attracting new investment with business-friendly initiatives that have substantially increased the island’s appeal in today’s hi-tech world, and part of that is an ever-growing database of high achievers. According to the latest figures, Cyprus has the highest number of higher education graduates per capita in the whole of the EU, thereby providing the local workforce with an exceptional level of excellence to complement an already extensive and internationally recognised pool of skilled professionals in the financial and Read More

Cyprus FM travels to Brussels for FAC, will meet with Borrell

Cyprus Foreign Affairs Minister Nikos Christodoulides travels to Brussels on Sunday to take part in the Foreign Affairs Council on Monday which will discuss EU-US relations following Biden`s election, developments as regards Russian opposition leader Alexei Navalny, relations with Turkey and the rollout of COVID vaccines to third countries. Climate crisis and Energy Diplomacy will also be on the agenda of the FAC.   Continue reading at source: Read More

Expert says lifting of all measures possible by March, if epidemiological figures allow it

Dr Petros Karayiannis, member of the Scientific Committee on the pandemic and Professor of Microbiology/Molecular Virology at the University of Nicosia Medical School has told the Cyprus News Agency that lifting of all restrictions for the containment of the coronavirus pandemic could be possible by March, given that epidemiological figures allow it and there is no setback. He also expressed the opinion that the aim for a two digit number in cases next week, is possible.   Continue reading at Read More

Moody’s: Bank Of Cyprus In A Better Position To Deal With COVID Downturn Due To New Bad Loan Portfolio Sale

Moody’s rating agency says that the new sale of a bad loan portfolio by the Bank of Cyprus, puts the bank in a better position to deal with an inflow of new NPEs arising from the coronavirus-induced economic downturn, a fact that is a credit positive. Moody’s issued a comment on the bank after the sale on 18 January, of and additional portfolio of non-performing loans with a gross book value of €545 million, to funds affiliated with Pacific Investment Read More

Cyprus electricity market should be open by 2022 — CERA

“Based on current data, CERA is looking forward to the introduction of healthy competition in the electricity market of Cyprus at the beginning of 2022,” announces Dr. Andreas Poullikkas, chairman of the Cyprus Energy Regulatory Authority (CERA). This will mean that producers of renewable energy, of whatever type, will be able to sell their production via the national electricity grid at that time. “There are essentially three main objectives of electricity deregulation in Cyprus in line with the EU perspectives: Read More

Health experts, Minister to review gradual lifting of covid-19 restrictive measures

Health Minister Constantinos Ioannou on Thursday meets the country’s covid-19 pandemic consultants to review the epidemiological state of play and exchange views on how to gradually lift the existing strict restrictive measures. The total lockdown is in effect till January 31. At the same time, the health experts keep sending the message that more time is needed before a clear epidemiological picture can be drawn.   Continue reading at source: Read More

Cyprus shipping sees 30% tonnage tax reduction for lower emissions

The Cyprus Shipping Deputy Ministry (SDM) has announced a new range of green incentives to reward vessels that demonstrate effective emissions reductions. From fiscal year 2021, annual tonnage tax will be reduced by up to 30 per cent for each vessel that demonstrates proactive measures to reduce its environmental impact, ensuring shipowners are rewarded for sustainable shipping efforts. “As a leading maritime nation, we have an obligation to support efforts in reducing GHG emissions. We believe that flag states are Read More

Bank of Cyprus announces sale of €545 mn portfolio of bad loans

Bank of Cyprus Holdings Public Limited Company announced that it has reached agreement with funds affiliated with Pacific Investment Management Company LLC (PIMCO), for the sale of an additional portfolio of Non Performing Exposures (NPEs) with a gross book value of €545 mn. According to an announcement by Bank of Cyprus, the portfolio known as “Helix 2 Portfolio B”, had a contractual balance of €783 mn and comprises 16,000 loans, mainly to Retail and SME clients, secured over 4,000 real Read More

Rules issued for car imports from UK post-Brexit

The road transport department announced on Tuesday the rules concerning the importation of vehicles from the UK following its EU exit. According to the department, an M1 category vehicle – passenger car with up to eight seats not including the driver – can be registered in Cyprus provided it is up to five-years-old on the date of arrival, counting from the date it had been registered new in any country.       Continue reading at source: Cyprus Read More

More than 50% of people over 80 in Cyprus already vaccinated or have appointment

More than 50% of citizens aged over 80  in Cyprus have so far received a vaccine against COVID19 or have arranged an appointment to be vaccinated, Deputy Director of Health Services Olga Kalakouta has told CNA. She said that there are around 33,000 citizens over 80 and so far 10,000 of them have been vaccinated, while 2,000 more received a vaccine in care homes.   Continue reading at source: Read More

Cyprus FM To Pay Working Visits To UAE And Saudi Arabia

Cyprus Foreign Minister, Nikos Christodoulides, will pay consecutive working visits to the United Arab Emirates and Saudi Arabia.A press release issued by the Foreign Ministry said that Christodoulides who leaves Cyprus on Sunday evening, will fist fly to Abu Dhabi where on Monday, January 18, he will have a private meeting and extended deliberations with the Minister of Foreign Affairs and International Cooperation of the United Arab Emirates, Sheikh Abdullah bin Zayed Al Nahyan. Discussions are expected to focus, among others, Read More

Cyprus house prices down an annual 1.4% in 3Q 2020

In the third quarter of 2020, house prices, as measured by the House Price Index, rose by 4.9% in the euro area and by 5.2% in the EU compared with the same quarter of the previous year. In the second quarter of 2020 house prices rose by the same annual rates, 4.9% and 5.2% respectively. These figures come from Eurostat, the statistical office of the European Union. Compared with the second quarter of 2020, house prices Read More

‘Largest ever’ affordable housing project planned for Limassol

The mayor of Limassol Nicos Nicolaides announced on Wednesday that, by the end of 2021, he will announce tenders for the construction of 150 apartments in the neighbourhood of Ayios Nikolaos, as part of the agreement on affordable housing signed between the Limassol municipality and the Cyprus land development corporation (KOAG). Nicolaides’ statement came after a teleconference with KOAG president Marios Pelekanou on Wednesday.       Continue reading at source: Cyprus Read More

Cyprus enters lockdown, sending text messages a must to move around

Total lockdown in Cyprus as of Sunday morning and up until January 31 in a bid to curb the alarming spread of the coronavirus and the public is reminded that to move around they have to send a text message and get permission. Specifically, for purposes other than to go to work, people will have to send a text message or SMS to 8998, free of charge. They can do so twice a day.   Continue reading at source: Read More

Cyprus President Anastasiades congratulates new US President Biden

Cyprus President Nicos Anastasiades has congratulated Democrat Joe Biden after the US Congress certified his November 3 presidential election victory. “Congratulations to my dear  friend Joe Biden, the 46th President of the United States,” Anastasiades wrote on his Twitter account late on Thursday.   Continue reading at source: Read More

Cyprus on verge of total lockdown, expected to come in effect as of Sunday

Cyprus is on the verge of a total lockdown just like the one back in March with the only exception being the continued operation of the island’s airports, informed sources told Philenews. The stricter new measures aiming to curb the alarming spread of the coronavirus will be announced by the Health Minister around 1pm on Friday after a Cabinet meeting.   Continue reading at source: Read More

Koushos: Cabinet To Convene Friday To Decide On New COVID Measures

The Cabinet will convene on Friday instead of Thursday to decide on new measures to contain the spread of COVID pandemic. Government Spokesman Kyriakos Koushos said that it was necessary reschedule the meeting, as Ministers needed more time to go through their planning and table their strategies. The new measures as well as the new schemes prepared by the Ministries of Labor and Finance will be announced after the Cabinet meeting, Koushos said in a written statement.   Continue reading Read More

Petrolina buys out Greek SILK OIL for 9 million

According to an announcement, on 31 December 2020, Petrolina bought out SILK OIL, a deal amounting to 9 million euros. As reported, the purchase is expected to affect positively the prospects and results of the Petrolina Group and is part of the group’s plan to further develop its work in Greece.   Continue reading at source: Read More

Agriculture Ministry offers ‘Green Harvest’ in grapevines incentive

The Ministry of Agriculture has offered the ‘Green Harvest’ in grapevines incentive with a budget of €1.6 million in a bid to boost the island’s wine sector. This is what Agriculture Minister Costas Kadis said in response to the Green Party’s question on incentives offered by the state towards the struggling wine sector in view of the additional burden now of the coronavirus.   Continue reading at source: Read More

Televised address by President Anastasiades, on the occasion of the New Year 2021

We say goodbye in a few hours to a year that will be recorded as one of the most destructive in the modern history of humanity, at times of peace. The coronavirus pandemic, the invisible enemy, as it has been called, resulted in the loss of two million human lives, struck the health systems even of countries considered among the most advanced in the sector, led the world economy into an unprecedented crisis, deprived billions of citizens of their human Read More

Ursula von der Leyen: Our Future Is Made In Europe

European Commission President Ursula von der Leyen and European Council President Charles Michel signed the post-Brexit trade and cooperation agreement on Wednesday. U.K. Prime Minister Boris Johnson is expected to also sign the text later in the day, after a planned fast-track vote by the British parliament on the deal this afternoon.   Continue reading at source: Gold Read More

University of Nicosia ranked in top 4% of unis in EECA region

The University of Nicosia placed #126 in the Emerging Europe and Central Asia Region, in which over 3,300 universities operate, according to the QS World University Rankings 2021 The 2021 QS World University Rankings: EECA, released in December, once again ranked the University of Nicosia (UNic) as one of the top 4 per cent of universities in the region, in which over 3,300 universities operate across 24 countries. UNic was ranked for a third consecutive year in the Emerging Europe Read More

Electronic form needs to be filled out before sending a parcel

The Cyprus Post announced on Tuesday that from January 1, people wishing to send parcels abroad must fill out an electronic form with all the necessary information before going to the post office. This requirement is due to international obligations and applies to all items containing goods sent to non-EU countries as well as items sent through the parcel, EPG, EMS Datapost services, regardless of destination and content.   Continue reading at source: Cyprus Read More

Energy And The Environment In A Competitive Economy

The global energy transformation, climate change and the need for competitiveness were put at the heart of the India Cyprus Virtual Club Meeting, which took place on December 16, 2020. The online event was welcomed by Sunil Kapoor, director of FML Ship Management. Production and consumption model The need to find solutions as each country is driven to energy transformation, without its economy becoming uncompetitive or bankrupt, stressed the former minister of Energy, Trade, Industry and Tourism, George Lakkotrypis.   Read More

Coronavirus: new decree bans visitors to homes

A new decree issued by the health ministry and in force from 6pm Tuesday until January 10 is now forbidding the presence of other people in houses other than those permanently residing in them. The only exception to the new decree will take place on New Year’s Eve, where up to ten people from no more than two different households will be allowed to meet. The ten includes minors.   Continue reading at source: Cyprus Read More

More than 70,000 have visited Varosha since October

More than 70,000 people have visited Varosha in two months since the partial opening of the fenced-off area in the northern part of Famagusta, Turkish Cypriot media reported on Monday. Between October 8 and December 8, more than 70,000 people from the north and the government-controlled areas of the island visited Varosha according to Famagusta’s ‘mayor’ Ismail Arter.   Continue reading at source: Cyprus Read More

As Brexit looms over Cyprus UK nationals get helpful advise

As 2020 comes to an end and ‘hard’ Brexit looms over Europe and consequently Cyprus, UK nationals should be aware of certain things that will be different and some that will remain the same. For example, those who come to live in Cyprus after January 1, 2021 will be subject to the Mediterranean island’s immigration rules, the High Commission in Nicosia informs. The current practice in Cyprus is for non-EU nationals who do not require a visa to be admitted Read More

Cyprus President gets covid-19 vaccine live on TV – UPDATED

Cyprus President Nicos Anastasiades got vaccinated against Covid-19 live on television early on Monday, hours only after the Mediterranean island started its inoculation process. Describing the vaccine a “gift of life”, the President said he was happy because there is hope the end of the pandemic which has turned everyone’s life upside down is coming to an end.   Continue reading at source: Read More

CySEC Introduces Temporary Permissions Regime To Facilitate PostBrexit Transition For Cyprus Investment Firms

The Cyprus Securities and Exchange Commission (‘CySEC’) has established a Temporary Permissions Regime (‘TPR’) which does not require physical presence in Cyprus for UK firms when providing investment services (including when performing investment activities) solely to professional clients and eligible counterparties, based in Cyprus. This is in order to allow for a smooth transition to new contracts post-Brexit, concluded on a reverse solicitation basis and for UK firms who wish to continue soliciting Cypriot professional clients and eligible counterparties to Read More

Covid restrictive measures could loosen for one or two days only over festivities

Imposed measures to prevent the coronavirus spread in Cyprus could be loosened for just Christmas Day and New Year’s Eve and not for any other time in between. This is what Dr Petros Karayiannis, one of the health experts advising the government, told CNA on Monday.   Continue reading at source: Read More

First stage of tenders for gas supply completed

The Natural Gas Public Company (Defa) announced Monday it has concluded the first phase of the tender process for the supply of liquefied natural gas (LNG). According to a press release, 19 interested suppliers were selected for the procedures concerning both the medium-term supply of the basic quantities with an LNG sales and purchase agreement contract, as well as for the procedure for future deliveries of LNG purchased on the spot market.   Continue reading at source: Cyprus Read More

Cyprus has taken ‘huge strides’ to becoming an educational hub

The 53,262 students registered at higher level institutions demonstrate that Cyprus has taken huge strides in establishing itself as an educational hub, Education Minister Prodromos Prodromou said on Friday. Presenting a breakdown of the tertiary education sector for the academic year 2019-2020, Prodromou said that 39,203 of these students are studying at public and private universities and the remaining 14,059 at colleges.   Continue reading at source: Cyprus Read More

Cyprus: A New Age Calls for a New Look

Sponsored by InvestCyprus In the coming decades, information and communication technologies (ICT) will radically influence the global economy – and Cyprus is positioning itself to be at the forefront of the Fourth Industrial Revolution. Already home to several international tech companies, Cyprus has made unprecedented moves in recent years to secure its future as both an established international business centre and an emerging tech hub.   Continue reading at source: Cyprus Read More

Auction for 5G broadband in Cyprus starts Thursday, four bidders take part

The auction for 5G broadband in Cyprus is set to start on Thursday with four bidding electronic communication networks taking part, according to Philenews. The bidding is at the office of the Department of Electronic Communications between the Cyprus Telecommunications Authority (Cyta), Primetel, Epic and Cablenet.   Continue reading at source: Read More

Cyprus-Kazakhstan Tax treaty creates investment channel

The Cyprus Kazakhstan Double Taxation Treaty, comes into effect on January 17, 2021, is expected to create a channel for investment from Kazakhstan through Cyprus to Europe, and from Cyprus through its partner country to the east. Cyprus is one of the top 10 investors in Kazakhstan, according to Kazak government statistics, having placed $165 million in direct investment in the country in the first half of 2020. Over 70 Cyprus companies have registered in Kazakhstan, and these will have Read More

Any different covid measures during Christmas holiday last minute decision, expert says

The coronavirus situation in Cyprus is stable and a drop in the daily number of positive cases is anticipated but any decisions on special measures over the Christmas holiday will be taken the very last minute. This is what member of the scientific team advising the government on the pandemic Dr Petros Karayiannis told CNA on Wednesday.   Continue reading at source: Read More

The University Of Central Lancashire (UCLan) Among The Top 3 UK Universities In The Hospitality & Tourism Management Field

The University of Central Lancashire (UCLan) proudly announces that it is now ranked in the top 3 universities in the United Kingdom according to The Guardian University Guide 2021 in the field of Hospitality & Tourism. The Guardian University Guide is amongst the most reliable and accredited university rankings in the United Kingdom and all over the world as well.   Continue reading at source: Gold Read More

Winners announced for the 2019 Hearts of Gold Cyprus Awards

The 12th Hearts of Gold Cyprus Award winners for 2019 have finally been announced. The annual awards celebrate philanthropy, humanity, volunteering and caring and recognise both children and adults from all over the island. Winners were due to be announced at a ceremony held in Paphos in January 2020, however, due to a medical emergency, followed by the coronavirus pandemic, they were delayed.   Continue reading at source: Cyprus Read More

Brexit website provides info for British residents in Cyprus

A Cyprus government website aimed at providing information on Brexit is being promoted by the Press and Information Office, ahead of the transition period that is coming to an end on December 31. As it’s looking like a no deal Brexit may be likely, a campaign to raise awareness of the site is underway. www.brexit.com.cy holds the latest information for British residents in Cyprus, and is focused on this particular group, although a Greek version is also available, Read More

MountMed to promote and protect mountains

The announcement of the creation of MountMed – Institute for Research Experimentation and Development for the Mountains of the Mediterranean – in Cyprus coincides with World Mountain Day on December 11. Although not yet fully operational, MountMed’s goal is the sustainable development of our country’s mountains. Its aim is to instigate research and innovation for the mountain regions of the Mediterranean islands as regards the environment, economy, demographics and culture.   Continue reading at source: Cyprus Read More

Cyprus miners find more gold, silver, zinc in Troodos

Exploration teams from the Nicosia-based mining company Venus Minerals have found more gold, silver, copper and zinc deposits in the continued work on their Magellan Project in the Northern Troodos. The company, which is working with its investor UK AIM-listed Ariana Resources has found in its New Sha field a combined resource of 9.5 million tons with a high percentage of copper,  and with significant additional potential for precious-metals and zinc, Venus Minerals said in a statement released on Read More

Auction for 5G in Cyprus starts December 17, four bidders on high alert

With the auction for 5G broadband in Cyprus starting on December 17, the four bidding electronic communication networks are on high alert, Philenews reported on Thursday. Authorized providers are required to establish and operate a fifth generation broadband electronic communications network to provide electronic communications services that will cover 70% of the population of the Republic. As well as all highways, until December 31, 2025.   Continue reading at source: Read More

Limassol to get its first H&M store by end of May

Coastal Limassol will get its first H&M store but the Swedish chain of clothing, accessories and shoes won’t come all on its own. The trendy store will be housed where the former ESEL headquarters used to be, in the heart of the city, along with a boutique hotel.   Continue reading at source: Read More

Hellenic Bank sees profit of €40 million after tax for nine-month period

Hellenic Bank saw profit of €40 million after tax in the first nine months of this year (to September 30), according to a statement released on Tuesday. Analysts welcomed this improved performance given the pressure of de-risking the balance sheet and the parlous economic conditions in the pandemic. Profit for the third quarter was at €22.3 million, up 12 per cent from the previous quarter’s €19.9 million. Revenue for the period was at €284.1 million, down slightly Read More

Paphos gets more tourist searches than Tel Aviv, Ibiza Mykonos – Research

Paphos was one of the most searched tourist destinations last summer, according to research by Sojern, a specialist in travel advertising and research. But news of vaccines have only provided a slight overall boost to travel in Europe. “Specifically, from the week of June 14 to the week of October 25,  flight searches to Paphos grew the fastest (in comparison with Tel Aviv, Mykonos, Ibiza) peaking at over 100 per cent,” analysts from Sojern told the Cyprus Mail in an interview. As Read More

Lute set to meet Spehar

UN Secretary General special envoy Jane Holl Lute will meet special envoy and head of Unficyp Elizabeth Spehar on Monday ahead of meetings with the leaders of the two communities the following day. Lute was scheduled to meet Spehar and other UN officials involved in the talks on Monday morning.     Continue reading at source: Cyprus Read More

Cyprus’ new covid preventive measures to be announced midday Friday

President Nicos Anastasiades on Friday morning chairs a new meeting with the scientific advisory team on Covid-1 before official announcements are made around midday on what measures will apply in Cyprus as of December 1. What is certain is that restrictions to prevent the further spread of the pandemic will somewhat relax over Christmas and New Year’s Eve celebrations, according to insiders.   Continue reading at source: Read More

Cyprus’ drilling programme to resume in the second half of 2021

Cyprus’ hydrocarbon exploration programme will resume in the second half of 2021, Minister of Energy Natasa Pilides has said, before admitting that the coronavirus pandemic made drilling projects “increasingly complex.” Pilides also told participants at the virtual Economist 16th Cyprus Summit on Tuesday that covid-19’s outbreak forced international energy companies with licenses to carry out explorations in blocks of the Cypriot EEZ had to postpone projects planned for 2020.   Continue reading at source: Read More

Health experts, President to decide on festive season’s preventive covid measures

President Nicos Anastasiades and the epidemiological advisory group on covid-19 on Wednesday morning began a meeting aiming to clarify the next steps to be taken to protect the country from the pandemic’s spread. The new measures, to cover the festive season of Christmas and New Year’s Eve, will be announced on Friday by Health Minister Constantinos Ioannou.   Continue reading at source: Read More

Cypriot products included list recognised by China

A total of four traditional Cypriot products, Zivania, Ouzo, Commandaria wine and Loukoumi Geroskipou – a type of Cypriot delight – have all been included in a list of EU protected geographic indications (PGIs) that will be recognised by China under a new agreement. The European Council adopted a decision on Monday on the conclusion of an agreement between the EU and China on cooperation around geographic indications (GIs).       Continue reading at source: Cyprus Read More

Tender For The Cyprus – Greece Ferry Connection To Be Launched Early December

Cyprus will launch a tender process for a sea passenger connection line with Greece in early December, with the ferry connection expected to begin in the summer of 2021, Deputy Minister for Shipping Vassilis Demetriades told CNA. “The open European tender is expected to be launched in the first week of December,” Demetriades told CNA, adding the Ministry is waiting for some clarifications in order to finalise the tender documents.   Continue reading at source: Gold Read More

Coronavirus phase two of free PCR tests for workers starts Saturday

Phase two of free PCR tests for workers permitted to travel to and from Paphos and Limassol district will start on Saturday at 2 pm and continue till November 27, the health ministry has announced. Travel between the districts is permitted on presentation of a negative PCR test no older than seven days and confirmation from employers. The first phase of testing was marred by huge lines and prompted Health Minister Constantinos Ioannou to issue a personal apology for the Read More

Larnaka Airport Highly Commended By ACI Europe

Larnaka International Airport has received another important accolade during the 30th Annual Congress and General Assembly of the Airports Council International (ACI Europe), as it was highly commended in the category 5-10 million passengers at the Best Airport Awards 2020. The airports were evaluated based on their performance, agility, and results in a newly created environment as a result of the pandemic.    Continue reading at source: Gold Read More

Cyprus receives 250m in EU pandemic loan

The European Commission  on Tuesday disbursed €14bn to nine EU countries, including Cyprus, in the second instalment of financial support to Member States under the SURE instrument. “Today Cyprus will receive €250m through SURE for safeguarding jobs over the course of the pandemic. In total Cyprus will receive €479m through SURE,” European Commission President Ursula von der Leyen said. The support, in the form of loans granted on favourable terms, will assist member states in addressing sudden increases in public Read More

Government expands affordable housing plan

A new revised affordable housing plan for vulnerable groups, young families and incentives for constructing more urban rental properties was unveiled by Interior Minister Nicos Nouris on Monday. The revised plan includes mountain districts, disadvantaged areas and improved urban incentives and covers all communities in Troodos, Akamas and Tylliria. It increases the number of communities in these areas from 128 eligible villages in the original July 2019 affordable housing plan to 259. “That means another 131 communities have been added Read More

RCB Bank rating confirmed by SP - highest in Cyprus

S&P Global Ratings in an annual report published on Wednesday confirmed the creditworthiness of RCB Bank at BB- / B with a stable outlook — this is the highest rating currently among Cyprus banks. A ‘BB-‘ rating shows that the entity is less vulnerable to changes in the external environment. However, it faces major ongoing uncertainties or exposure to adverse business, financial, or economic conditions that could lead to its inadequate capacity to meet its financial commitments.   Continue reading Read More

Limassol and Paphos districts enter almost complete coronavirus lockdown

The Mediterranean island’s coastal districts of Limassol and Paphos on Thursday evening will enter an almost complete lockdown which is to last until November 30. In a bid by the government to contain the alarming spread of coronavirus – especially in these two districts – the curfew will be from 8pm to 5am. And movement in or out of these two districts will be prohibited almost entirely at all times. In a televised message late on Wednesday, President Nicos Anastasiades said Read More

Action plan to promote Paphos in place

The Paphos regional board of tourism is continuing to strengthen the promotion of the area and has prepared an enhanced action plan with a budget of over €480,000, officials said on Tuesday. “Sixty five per cent of the budget for 2021 will be allocated for the enhancement of the tourist experience and in new technologies,” head of the Paphos regional board of tourism Nasos Hadjigeorgiou told the Cyprus Mail.     Continue reading at source: Cyprus Read More

Moody's Affirms Bank Of Cyprus' And Hellenic Bank's Deposit Ratings At B3

Moody's Investors Service has today affirmed all ratings and assessments of Bank of Cyprus Public Company Limited (Bank of Cyprus) and Hellenic Bank Public Company Ltd (Hellenic Bank), including their long-term deposit ratings of B3. The outlook on both banks' long-term deposit ratings remains positive. According to a statement, the affirmation of the banks' ratings reflects their improved funding and liquidity profiles, and strengthened capital levels compared to a few years ago, counterbalanced by the downside risks stemming from the Read More

Hotel discounts, with subsidies, continue through March 31

The Council of Ministers has agreed to the request from the tourism ministry to continue its mandate of special offers of hotel discounts to permanent residents, the Deputy Minister of Tourism said in a press release on Monday. Despite the coronavirus pandemic, Cyprus has the potential to emerge as a first-class winter tourist destination due to its remarkable mountain regions and rural authenticity, Deputy Minister of Tourism Savvas Perdios has said.More than 100 hotels across the island participate in Read More

Anastasiades congratulates ‘good friend’ Biden

President Nicos Anastasiades congratulated president-elect of the United States, Joe Biden for his victory. Anastasiades, in a message on social media, referred to Biden his “good friend and friend οf Cyprus.” “My best wishes for a most successful and productive term in office. I look forward to work closely with you in order to enhance the relations between our two countries,” Anastasiades said.   Continue reading at source: Cyprus Read More

Zara’s online store in Cyprus goes live today

Zara launches online sales in Cyprus today. With this launch, Zara is marking a new milestone in the steady expansion of its fully integrated store and online model across the universe of markets in which the Inditex Group does business. Zara.com/cy will offer online shoppers in Cyprus the full range of women, men and kids’ collections available in the market’s Zara stores, starting with the Autumn Winter 2020 Collection. Available in English language, Zara.com/cy has been designed to provide a user-friendly Read More

Cyprus President to announce additional covid measures on Wednesday eve

President Nicos Anastasiades will address the nation on Wednesday evening to announce stricter measures in a bid to curb the alarming spread of coronavirus in Cyprus. Earlier closure times for bars and restaurants throughout the island are expected to be part of the new measures to be announced following an afternoon cabinet meeting, Philenews reports. Insiders said the advice from health experts appears to lean towards avoiding a blanket lockdown – for now at least.   Continue reading at source: Read More

The University of Nicosia: Global leader in business and economics education

The latest results of the annual Times Higher Education (THE) World University Rankings by Subject 2021 rank the University of Nicosia (UNic) among the top 301-400 universities in the world in the subject area of Business and Economics. This ranking places UNic as the #1 ranked university in Cyprus and Greece, and among the Top 100 universities in the European Union, in this subject area.   Continue reading at source: Cyprus Mail Read More

Projects worth more than €10m to upgrade Geroskipou

Projects worth more than €10 million are ongoing in Geroskipou, Mayor Michalis Pavlides said on Monday. The traditional centre of the coastal town will be upgraded, while the old army training centre (KEN) will also be utilised, he said. “Specifically, the municipality of Geroskipou is preparing proposals, so that by November 30 a relevant study will be sent to Greek researchers, in collaboration with the municipality of Paphos, for the promotion of EU-funded projects for the period 2021-2027.”   Read More

Do you have to close your UK bank account?

Anyone who has lived and worked in the UK will understand the advantages of having an account in Blighty. You can pay your bills, your taxes, collect your investments – there’s always some business to be done which is much easier to settle if you have at least a checking account in a UK bank. But with Brexit closing in, and quite possibly a no-deal Brexit, do you have to close your account there?   Continue reading at source: Cyprus Read More

Cyprus remake to begin with business creation

The Cyprus remake, a series of EU funded programmes that will affect every aspect of life in the country, will begin in the new year. The first of these will involve the creation of new businesses, sources at the Ministry of energy, commerce, industry and tourism told the Cyprus Mail. Meanwhile, proposals from the various ministries themselves for grants under the same fund are under review, with the entire plan for Cyprus scheduled to be completed by December. None of Read More

Cyprus welcomes readiness of UNSG to provide his Good Offices for new talks

The Cyprus government welcomed the readiness of UN Secretary-General Antonio Guterres to provide his Good Offices mission for the resumption of talks for the solution of the Cyprus problem, government spokesman Kyriacos Koushos said on Thursday. According to Koushos, Guterres, in his reply to a letter sent to him by President Nicos Anastasiades some two weeks ago, expressed “his readiness to provide his Good Offices for the resumption of talks for a solution of the Cyprus problem, on the basis Read More

President to inaugurate Paphos Innovation Institute on Friday

The Municipality of Paphos is in the final phase of preparations for the opening of the Paphos Innovation Institute, which will be inaugurated by President Nicos Anastasiades on Friday. Mayor of Paphos Phedonas Phedonos stressed that the project, a collaboration with the Reichman University (IDC Herzliya) of Israel, sees Paphos enter a new era investing in innovation and related education.   Continue reading at source: Cyprus Read More

Reservoirs still 77% full despite protracted summer

While temperatures in recent days have been 6 to 10C higher than usual for the time of the year, reaching 36C in Nicosia both on Monday and Tuesday, this and a lack of rainfall have not yet affected water levels in the reservoirs. The hot weather will abate somewhat over the next few days, but will remain well above average, with highs of more than 30C in some areas. Rain is also unlikely to fall this week, at least in Read More

Hotel discounts expected to continue through the winter - Tourism Minister

The tourism ministry is considering the continuation of its mandate of special offers of hotel discounts to permanent residents, the Deputy Minister of Tourism Savvas Perdios told the press on Monday. More than 100 hotels across the island participate in the scheme, which was originally intended to be active from 1 September through the end of November. The scheme includes apartment complexes, tourist villages and agro-tourism establishments.   Continue reading at source: Cyprus Read More

Coronavirus: masks to be worn outside, curfew in Paphos and Limassol (Updated)

The use of masks will now be obligatory in all areas, including in the open air in all districts will be in effect from Friday, Health Minister Constantinos Ioannou announced on Thursday. He also announced an 11pm curfew in the Limassol and Paphos districts, after a cabinet meeting in the morning. All measures will be in effect from Friday and will remain in force until November 9.   Continue reading at source: Cyprus Read More

Cyprus remains on UK’s “green” travel list despite rising covid cases

Cyprus has remained in the UK Government’s “green” Travel Corridors list despite a rise in coronavirus cases on the island. This means that travellers from Cyprus arriving anywhere in the United Kingdom will continue to be excluded from the obligation to self-isolate for 14 days, as is the case with arrivals from most European countries.   Continue reading at source: Read More

Investors are optimistic about Cyprus’ attractiveness-EY survey

Investors are optimistic about Cyprus’ attractiveness over the coming years but state that there is room for improvement, according to the EY Attractiveness Survey Cyprus 2020 released on Wednesday. The survey showed that COVID-19 triggered a sharp decline in foreign direct investment projects throughout Europe but despite the pandemic investors feel that Cyprus remains an attractive investment destination.   Continue reading at source: Read More

Nicosia hosts Cyprus-Greece-Egypt Trilateral Summit

Nicosia on Wednesday is hosting the 8th Cyprus-Greece-Egypt Trilateral Summit with the leaders of the three countries set to discuss several issues of mutual concern. The Summit’s agenda includes talks on the illegal activities of Turkey in Famagusta and in the Eastern Mediterranean region, according to CNA. Deputy Government Spokesman Panayiotis Sentonas has said in a statement that the Summit will take place within the framework of deepening regional cooperation with neighbouring countries.   Continue reading at source: Read More

President Anastasiades Congratulates New Turkish Cypriot Leader Tatar

President of the Republic of Cyprus Nicos Anastasiades has congratulated the new leader of the Turkish Cypriot community Ersin Tatar and has expressed hope that Tatar would show goodwill and respond positively to a UN call for a new initiative to solve the Cyprus issue, as he himself will. In a written statement, President Anastasiades says that “the verdict of our compatriots to select Mr. Ersin Tatar as the new leader of the Turkish Cypriot community is absolutely respected.” Read More

Could there really be a new passport scheme?

Dispute rages over how important the citizenship scheme was to Cyprus while the government has already hinted of a different scheme, as called for by business groups Questions have been raised about the importance of the citizenship by investment (CBI) scheme to the economy a few days after the government’s announcement of its termination as business groups, which have described the move as “catastrophic”, have already started calling for a new programme. In an announcement issued on Tuesday, immediately after the Read More

President to chair Covid-19 meeting on Saturday

President Nicos Anastasiades will hold an urgent meeting with the epidemiological team on Saturday amid speculation authorities are considering new measures to contain the coronavirus outbreak after a record 104 positive cases found on Thursday. It was the first time that daily cases went into triple digits since the start of the pandemic in March. Shortly after the numbers were released, Anastasiades called on the public on Twitter to strictly adhere to the measures already in place. “At this time, Read More

Cyprus still a top choice for European travellers

Surprisingly, lots of Europeans are still intent on travel this year, and not surprisingly, Cyprus remains among the top choices for destinations according to a study released this week by the European Travel Commission (ETC). The ETC, which represents the National Tourism Organisations of the countries of Europe, examined the ‘travel intentions’ of more than 5,000 Europe residents. While most are still hesitant to take a trip outside their own countries, one out of four said that they intend to travel within Europe in Read More

The Cyprus - Saudi Arabia Held On Wednesday Its Inaugural Meeting In Nicosia

Participants said the association opens new prospects economic and trade relations between the two countries. Addressing the ceremony, Minister of Energy, Commerce and Industry Natasa Pilides praised the relations between the two countries. “Relations between Saudi Arabia and Cyprus were extremely positive and close and we would like to further enhance them both on a political and an economic level,” she said.   Continue reading at source: Gold Read More

5G on its way rapidly after licencing, says Cyta CEO Andreas Neocleous

5G is on its way soon, Fibre optic internet connections to expand, internet access upgrades coming to all 450 schools in Cyprus – these are all improvements underway for Cyprus telecommunications. The entire Cyprus network is seeing a digital transformation; Cyta CEO Andreas Neocleous tells us about the latest developments. CM: One still hears complaints from businesspeople in Cyprus about telecommunications infrastructure. They say that networking with other countries is still too slow?   Neocleous: There is some latency in international Read More

British Airways Customer Excellence Award for Parklane, a Luxury Collection Resort & Spa

Parklane, a Luxury Collection Resort & Spa in Limassol is delighted to announce that it has received a British Airways Customer Excellence Award for 2019.  This award comes from unbiased customer reviews and is designed to showcase the hotels that impress guests the most. Parklane, a Luxury Collection Resort & Spa received an overall score of 9.3/10.   Continue reading at source: Read More

Solar panels on all our houses

European Recovery Fund to finance vast expansion of home solar panels   The Cyprus Mail has learned that one of the first projects to be financed by the €1 billion European Recovery Fund is expected to be the vast expansion of grants to put solar panels on Cyprus homes. Currently, about €1,000 is provided as a grant to pay the costs of installing ph0tovoltaic panels on homes. The result has been that about 17,000 Cyprus homes currently operate solar panels, according Read More

Lebanese businesses seek opportunities in Cyprus

For Lebanese businesses, struggling in the crisis, Cyprus offers opportunities. Hundreds of Lebanese have simply up and moved to Cyprus. Others have decided to stay in Lebanon and partner up with Cypriot companies, in order the create a business bridge between the two countries. Joumana Khoury Younes is helping to build these bridges. She is the owner of the Beirut-based “Confiden,” a Corporate Services & Consultancy firm dedicated to providing specialised assistance to clients, in matters related to their personal Read More

Major insurer chooses Cyprus for its European business

Steamship Mutual, one of the most important Protection and Indemnity insurers globally, has chosen Cyprus for the base of its European business, with an office in Limassol officially opened on Tuesday. “We came to Cyprus because we need an office within the EU post Brexit,” Rupert Harris, Chief Executive SSM Europe & Head of Reinsurance explained to the Cyprus Mail in an interview.  “EU-based members’ business will be renewed in this entity, and arrangements with relevant third parties will also Read More

Louis Infinity Blu Receives “Best Hotel Worldwide” Award

Louis Infinity Blu owners and operators received on Wednesday, September 30, the “Best Hotel Worldwide” award by TUI during a ceremony held at the hotel, in the presence of local authorities, TUI officials and media representatives. Louis Infinity Blu, located in Protaras, Cyprus, operated by Louis Hotels, stood out in TUI’s rigorous criteria, achieving 98% of the overall satisfaction winning the “Best Hotel Worldwide” at the “TUI Global Hotel Awards”. Speaking about this significant distinction, Chief Commercial Officer of Louis Read More

New tax bills seek to lure foreign high earners to Cyprus

MPs on Monday began discussing two government bills involving tax incentives aimed at luring high earners who are foreign nationals, so that they make Cyprus their personal domicile and headquarter their companies here. Under the first bill, amending the income tax law, foreign nationals not resident in Cyprus can benefit from a tax exemption of up to 50 per cent if their annual earnings exceed €100,000 either during the tax year during which they started working here or for any Read More

Cyprus wants a world free of nuclear weapons-Mavroyiannis

Cyprus will enhance efforts for the promotion of international peace and security and press forward with the ultimate goal of “a world free of nuclear weapons”. This is what Ambassador Andreas D. Mavroyiannis, Permanent Representative of Cyprus to the United Nations in New York has said.   Continue reading at source: in-cyprus Read More

Coronavirus: the Cypriot behind the lab-free 90-minute test

Britain’s NHS has ordered 5.8 million of Chris Toumazou’s DnaNudge kits for speedy virus testing   By Nick Theodoulou A breakthrough in the battle against Covid-19 has been achieved by a British Cypriot tech entrepreneur and professor, who has pioneered a much-heralded lab-free test that delivers accurate results within 90 minutes. The brainchild of Chris Toumazou, of Imperial College London, the testing kit has been dubbed “a lab in a cartridge” and the British government has ordered 5.8 Read More

Cyprus set to be ‘remade’

With €1bn in EU recovery grants, the scope of the changes is said to be unprecedented By Andrew Rosenbaum IN WHAT is being seen as a giant step forward, Cyprus is set to be ‘remade’ in the coming years through €1 billion in grants – not loans – from the European Recovery Plan, according to documents seen exclusively by the Cyprus Mail. The scope is unprecedented; the work will go on for six years. Some of  the candidate projects include Read More

Green incentives for shipping being finalised, ministry says

A series of green incentives rewarding those actively taking steps to support the transition to a zero-carbon future is currently been finalised and will be launched later this year, the deputy shipping ministry announced on Thursday. The incentives will take the form of a tonnage tax rebate for vessels demonstrating further reductions of the attained Energy Efficiency Design Index or reductions of the total oil consumption in two consecutive reporting periods. “A long-term strategy for Cyprus is also under development, Read More

Cyprus Airways Announces The Launch Of Ticket Sales For Winter 2020-21

Cyprus Airways announces the launch of ticket sales for winter 2020-2021. The winter schedule includes Athens and Heraklion, as well as, the addition of new route Larnaka-Moscow. The Cypriot airline is also planning to resume flights to Tel Aviv, as soon as the situation with Covid-19 stabilizes.  George Mavrocostas, Chief Operations Officer of Cyprus Airways stated: “We continually monitor our route network taking into consideration the situation of Coronavirus pandemic and our customers’ needs. We are delighted that we Read More

European Tour at Aphrodite Hills a huge sporting event for Cyprus

Earlier this month, confirmation was received that Cyprus would be hosting one of its biggest sporting events of all time, with golf’s European Tour including the island in its updated 2020 schedule. The European Tour’s visit to Cyprus will include two separate events, the Cyprus Open, taking place from October 29 to November 1, and the Cyprus Classic, from November 5 to November 8. Both events will be played at Aphrodite Hills Resort near Paphos. The Sunday Mail spoke to Andrew Read More

Six countries move to lower Categories – Changes to take effect September 24th

On Monday, Cyprus’ Ministry of Health announced that 6 countries are being downgraded after reviewing the epidemiological risk for passengers travelling from these countries. New categories will be valid starting September 24. Category A – Low risk countries at the present stage European Union Member States: 1) Germany, 2) Latvia, 3) Lithuania, 4) Finland   Continue reading at source: Read More

Brits beat Brexit with Cyprus move

Growing numbers of British nationals are preparing to move to Cyprus ahead of the end of the Brexit transition period, according to local businesses in Paphos. Peter Morton, a British expat living in Paphos with his wife and family, started his successful removal, shipping and storage business 14 years ago. In that time, he has moved hundreds of customers, mostly Brits, to and from Cyprus. Around fifty per cent of Peter Morton Removals clients are British. “Since just after lockdown was lifted, Read More

Fosun to get Thomas Cook flying again

Will Thomas Cook again run flights to Cyprus? It’s possible. The Shanghai-based Fosun International, a conglomerate worth about $100 billion in assets, acquired the assets and brand of Thomas Cook in November 2019 for $11 billion. Some time ago, Fosun announced that it would bring Thomas Cook back to life, but it was only on Monday that the Civil Aviation Authority granted the revived London-headquartered Thomas Cook Tourism (UK) Company Limited an Atol for an initial 364 passengers.   Continue Read More

Limassol port in frame for Cyprus-Greece ferry link

Deputy Shipping Minister Vassilis Demetriades visited Limassol port to review its facilities and discussed the potential of using the island’s main cruise terminal as the home for a renewed Cyprus-Greece ferry link. Demetriades met with the management of the operator, DP World Limassol, and discussed the port’s potential to contribute to the development of Cyprus shipping as well as the possibility of the port serving the Cyprus-Greece ferry route.   Continue reading at source: Financial Read More

Cyprus welcomes diplomatic relations established between Bahrain and Israel

Cyprus has welcomed the recent agreement for the establishment of diplomatic relations between the Kingdom of Bahrain and Israel. An official announcement in Nicosia on Monday also said that this constitutes another positive development for peace and stability in the region following a similar decision announced by Israel and the United Arab Emirates last month.   Continue reading at source: Read More

Ministry updates Covid-19 country categories (updated)

The health ministry has updated the classification of countries as regards Covid-19 and how this impacts arriving passengers. Four countries have been downgraded and two upgraded. There have been no changes for Cyprus’ major travel partners Greece and the UK. Under the new rules that come into effect on September 18:   Continue reading at source: Cyprus Read More

Cyprus happy with outcome of Pompeo visit, FM says

Cyprus on Sunday expressed satisfaction over the results of the talks it had on Saturday with US Secretary of State, Mike Pompeo, who paid a fleeting visit to the island. In statements to the Cyprus News Agency (CNA) , Foreign Minister, Nikos Christodoulides said that during his talks with President Nicos Anastasiades, which Christodoulides attended, the US official expressed the US commitment and interest in the broader Eastern Mediterranean region and the need for conditions of security and stability to Read More

Ayia Napa Marina Awarded ISO 13687-1:2017 Certification

Ayia Napa Marina is particularly pleased to announce that it has been awarded the ISO 13687-1 certification from the Cyprus Certification Company (CCC), pertaining to the operation of the first phase of the marina. The certification constitutes a particularly important recognition of the exceptional international standards which characterise the development of this iconic project in the Ayia Napa area.  The ISO certification primarily provides operators of harbours and marinas for leisure craft with a practical tool to promote health, Read More

DP World Limassol Welcomed The Ambassador Of Israel To Cyprus To The New Passenger Terminal

The development of the maritime tourism sector and ways to boost cooperation between Cyprus and Israel, were discussed at a meeting held at the Limassol port, between the Israeli Ambassador to Cyprus, H.E. Shmuel (Sammy) Revel, the Chairman of the Limassol Tourism Board, Tony Antoniou and DP World Limassol officials. DP World Limassol officials welcomed the Israeli Ambassador and the Chairman of the Limassol Tourism Board to the Limassol port on Thursday, 10 September 2020. Revel had the opportunity Read More

EIB head foresees more projects with Cyprus

The European Investment Bank (EIB) will continue to support Cyprus with new investment, possibly involving broadband companies, the national road system or the Vasilikos Power Plant said President of the European Investment Bank (EIB), Werner Hoyer on Monday after his meeting with Finance Minister Constantinos Petrides. The president of EIB visited Nicosia on Monday and met with President Nicos Anastasiades as well as with the Ministers of Foreign Affairs Nikos Christodoulides, Energy, Natasa Pilides, and Finance Minister Constantinos Petrides, who Read More

First visitors after Cyprus airports reopened were from Greece, Germany, Poland

Coronavirus fear has forced many to cancel tourism plans this summer but those who dared come over to Cyprus after the reopening of airports were mainly from Greece, Germany, Poland, Switzerland, Denmark and Austria, Philenews reports. Cyprus reopened for tourism and started accepting visitors from a green list of countries in early June, and data compiled from the CyprusFlightPass platform shows the total number of visitors in July standing at 64,914.   Continue reading at source: Read More

Council Of Ministers Approves The Creation Of A Fast Track Business Activation Mechanism

The Council of Ministers has approved yesterday the creation of a Fast Track Business Activation Mechanism for setting up a company in Cyprus by third country nationals. The mechanism is aimed at attracting foreign investment to the island. According to the PIO release, the proposal, which was put forward Minister of Energy, Commerce and Industry, Natasa Pilides, in coordination with the Ministries of Foreign Affairs, Interior, Finance and Labour, suggests that all necessary procedures for the registration and incorporation of Read More

Cyprus internet speed gets faster — Research

Cyprus’ internet speed saw a 42 per cent increase within the last year, aligned with a global broadband speed rise. The island ranked 89 out of 221 countries after tests in research designed and compiled by Cable.co.uk, and gathered by M-Lab, an open source project .Cyprus’ mean download speed was 15.62 Mbps, and it takes about 43 minutes to download a 5GB movie, the survey showed.   Continue reading at source: Cyprus Read More

US Looks To Cyprus As Being An Important Partner, State Department Official Says

US Secretary of State Mike Pompeo informed the Cypriot President Nicos Anastasiades of Washington’s decision to lift the arms embargo to Cyprus, Matthew A. Palmer, Deputy Assistant Secretary of State for European and Eurasian Affairs announced. “The US looks to the Republic of Cyprus as being an important partner “, he added. In a virtual conference with Greek correspondents, Palmer said that Secretary Pompeo spoke with President Anastasiades over the phone and informed him of his “determination that within the Read More

New pricing policy leads to cheaper power

The cost of electricity has decreased by 20 per cent since new pricing measures were introduced in 2017, the head of the Cyprus Energy Regulatory Authority Andreas Poulikkas said on Wednesday. Poulikkas, who was submitting his report to President Nicos Anastasiades, said the new pricing measures were implemented in 2017 and within the year there was a decrease in costs. “The usage fee for the network has decreased 20 per cent from 2016 to present,” he told the president.   Read More

Real cheap flights from Cyprus to the UK in Autumn

Travellers these days are lured with real low airfares from Cyprus to the UK in the Autumn but the coronavirus fear is probably going to overtake enthusiasm. Philenews reported on Monday that prices for departure from Larnaca to the UK on September 28 and return on October 4, range between €150, €156, €187 and €220 for almost all airports.   Continue reading at source: Read More

Chevron to exploit Aphrodite gas ‘as soon as possible’

President Nicos Anastasiades on Monday held a teleconference with energy giant Chevron CEO Michael Wirth whose company has recently acquired a share in the Aphrodite gas reserve. David Stover, CEO of Noble Energy, which previously owned the share also took part in the call, as well as other officials from the two companies. Energy Minister Natasa Pilidou and government spokesman Kyriacos Kousios were also present.   Continue reading at source: Cyprus Read More

Twelve Museums slated to operate with free admission

The Council of Ministers approved a proposal by the Ministry of Transport, Communications and Works for the adoption of the policy for free admission to the twelve Museums which fall under the jurisdiction of the Department of Antiquities during its meeting today. For the preparation of the above proposal, the Ministry of Transport took into account: » Recommendations by UNESCO. » The results from the implementation of free admission policies in Museums of other European countries such as the UK and Sweden. Read More

‘Hotel prices will be attractive’ with new scheme – Hotel Association

Cypriots are ready to extend their holidays through September to November, after the Tourism Deputy Ministry announced better prices and partial funding for certain tourist accommodations, the Cyprus Hotels Association told the Cyprus Mail on Tuesday. For decades, locals were choosing to take their vacations starting from June to July with the favourite month for employees to take days off being August. But things are about to change after the Deputy Ministry of Tourism launched a Special Support Scheme for Read More

University of Cyprus among the best in the world

For the third consecutive year, the University of Cyprus was ranked in the # 601-700 best universities in the world in the Academic Ranking of World Universities (ARWU), also known as the Shanghai Ranking. The University of Cyprus is the first and only Cypriot university that manages to be included in the famous list of Shanghai among the 1,000 best universities in the world. The ARWU ranking, known as the Shanghai list, is considered one of the three most important Read More

Out with fuel refineries, in with towers in Larnaca

The area where the fuel refineries used to be in coastal Larnaca are to get revamped with buildings up to 15 floors and 68 meters high to come in, according to a recently-released “Area Plan”. This is what Philenews reported on Monday, adding that “encouraging the construction of a limited number of tall buildings which will be of a high architectural and quality level will  function as landmarks and reference points”. Such buildings could be allowed in plots with a Read More

Cabinet approves incentive plan for Paralimni tourist development

Interior Minister Nicos Nouris said on Friday the cabinet approved an incentive plan for tourist development in the Paralimni area. After a cabinet meeting, Nouris said: “At today’s session, the cabinet has rectified a chronic injustice regarding the tourist zones.” He said considering that the local plan of Paralimni, Ayia Napa and Dherynia would be ready around July 2021, the government had proceeded to modify the incentive plan, so that the tourist developments in the specific areas, the tourist Read More

Wizz Air Announces New Larnaca-Bergen Route

Wizz Air announced new route from Larnaca to Bergen in Norway, proving its commitment to further develope its network in Cyprus. Passengers can already book tickets from as low as EUR 24.99/  / NOK 279 on www.wizzair.com  or via the WIZZ mobile app.  The new route brings more exciting travel opportunities for affordable travel from Larnaca, as well as continues to further stimulate Cyprus tourism and hospitality industries. Bergen is the second-largest city in Norway and the Gateway to Read More

Price of houses shows small increase

The housing price index (HPI) was up 1.8 per cent in the first quarter of this year, according to the Central Bank figures released on Wednesday. It was a smaller rise than in the last two quarters of 2019, when it rose by 2.8 per cent in the third and 2.2 per cent in the fourth, indicating a small downward trend. The Central Bank report said the modest rise of the HPI “owed to the decrease in Read More

Final building permit given for EuroAfrica Interconnector

Cyprus has issued the final building permit for the Egypt-Cyprus electricity interconnection EuroAfrica Interconnector, it was announced on Wednesday. EuroAfrica Interconnector is the official project developer of the Egypt-Cyprus electricity interconnection. The permit provides the green light for the construction of the HVDC converter station, for which Siemens has been chosen as the preferred constructor. The Cyprus Planning and Housing Bureau approved in November 2019 the planning permit for the HVDC converter station with a capacity of 2,000 MW, as Read More

Russia highlights relationship with Cyprus on 60th anniversary of establishing diplomatic ties

Russia marked 60 years of diplomatic relations with Cyprus on Tuesday with a post on the Nicosia embassy’s Facebook page, outlining the friendly relations between the two countries. The post says that on August 18, 1960, diplomatic relations were established between the then USSR and Cyprus.  The official Cyprus independence day is August 16 but it is celebrated on October 1. The Russian embassy post said: “Relations were established after the exchange of government telegrams between the President of the Read More

Wizz Air to fly to Larnaca from Doncaster Sheffield Airport

Wizz Air said on Thursday it was setting up a new base at Doncaster Sheffield Airport, and that it would launch seven new routes from there including to Larnaca. The airline said that with the creation of a new base at Doncaster Sheffield Airport, it will launch new connections to destinations including the Spanish cities of Alicante and Malaga, Larnaca in Cyprus, Faro in Portugal, Lublin in Poland, Kosice in Slovakia and Suceava in Romania.   Continue reading at source: Read More

Cypriots seeing lowest electricity bills in years

Cypriots are set to enjoy the lowest electricity bills in almost 20 years, as the price of oil has tanked and the electricity authority is further knocking 10 per cent off the bill. A household of four people, using 800 kilowatts – which is a considerable amount for such a unit – will come to €126 this August. Just two months ago, in June, the bill would have been €150.  “If we compare a bill in August 2020 to Read More

Polis mayor ‘satisfied’ with visitor numbers

The mayor of Polis on Thursday expressed his satisfaction with the number of people visiting the area. The efforts by the municipality have brought results and Polis welcomes many tourists, mainly Cypriots but also foreigners, Giotis Papachristofi said. “We hope this will continue in the next days, and we expect even in September and October Cypriots will continue to visit Polis Chrysochous, which offers much beauty and clean and beautiful beaches.”   Continue reading at source: Cyprus Read More

Cyprus Troodos copper and gold mining sees significant investment

Cyprus-based copper and gold miner Chesterfield Resources has raised £630,000 to move ahead with development of gold deposits that the company has located on its site in the Troodos mountains. The company, which is listed on the London Stock Exchange (LON: CHF), announced on July 27 the successful private placement of 12 million new ordinary shares, along with incentive options, to raise the funds.   Continue reading at source: Cyprus Read More

Jet2 resuming flights to Cyprus from August 17

Jet2 is set to resume flights to Cyprus from August 17 as there is “clear demand” from the British market, the airline said on Tuesday. Steve Heapy, CEO of Jet2, said that: “We are delighted to be recommencing our flights and holidays programme to Cyprus from 17th August and looking at the demand it’s very clear just how much our customers are looking forward to their well-deserved holidays in the Cypriot sunshine.   Continue reading at source: Cyprus Read More

Cyprus gains in Russia Double Tax Treaty agreement (Updated)

by Philippe Orphanides Cyprus and Russia have just agreed on an amendment of the double taxation treaty between the two countries, according to Cypriot Finance Minister Constantinos Petrides, cutting short the two-day negotiation agenda initially scheduled. The Cypriot side ensured, among other things, the exemption from a 15 per cent withholding tax on dividends for regulated entities, such as pension funds and insurance companies, as well as listed companies. In addition, interest payments from corporate and government bonds as well Read More

Upgrade of Cyprus-France relations expected says minister

After President Nicos Anastasiades’ visit to France an upgrade of the relations between the two countries is definitely expected, Defence Minister Charalambos Petrides said on Sunday. In statements at a memorial service for the fallen in battle in Tylliria in 1964 in Pachyammos he said some news and some plans are expected to be announced soon. Following the outbreak of intercommunal violence in December 1963, Turkish Cypriots had established a bridgehead at Kokkina in 1964, used to bring in arms, Read More

Cyprus to assist Lebanon with 5 million, opens up ports, airports and air base

President Anastasiades announced a 5 million euro assistance to Lebanon, following the August 4 deadly explosion and opened up the country’s ports and airports, as well as the ‘Andreas Papandreou’ air base to UNIFIL (UN peacekeeping force in Lebanon) and the international community. The President addressed an international donor video conference on Lebanon, following an initiative by the UN and French President Emanuel Macron. In a written statement, government spokesman Kyriakos Kousios said that during his conference address, President Anastasiades Read More

Ministry announces conclusion of international tender for Larnaca port and marina development

The Cyprus Ministry of Transport, Communications and Works announced on Monday the successful conclusion of the international tender for the development of the port and marina area of Larnaca. In its press release, the Ministry states that it has sent a ‘Successful Tenderer Letter’ to the consortium Eldeman Holding BV and Alexandrou Corporate Services Ltd, of Cypriot-Israeli interests.   Continue reading at source: Read More

What you need to know if you are travelling to Cyprus

As part of the Government’s strategy for managing the corona virus pandemic, the safeguarding of Public Health and limiting the entry of Covid-19 incidents through gateways into the country, the Ministry of Health has been implementing a country categorisation system since May that changes according to the assessment of their epidemiological risk. Depending on what category the country they’re coming from is in, passengers must comply with specific measures, as follows: For passengers from Category A countries, nor a Covid-19 Read More

Cyprus and Egypt reaffirm energy priorities

Cypriot and Egyptian priorities on energy issues were reaffirmed during a video conference between Energy Minister Natasa Pilides and her counterpart Tarek El Molla, it was announced on Tuesday. Speaking to CNA, Pilides said that the discussion on Monday was very constructive and focussed on issues related to the cooperation between the two countries. Pilides said that among others, issues related to Cyprus’ Aphrodite gas field and the acquisition of Noble Energy by Chevron were discussed, with the Egyptian Minister Read More

Completion and delivery of two additional photovoltaic parks

Two additional photovoltaic parks, with a total capacity of 2.5MW were completed and connected to the EAC national network, from L&T Sun Power Ltd. The two parks are part of a larger development program of photovoltaic parks of the company, aiming at producing energy from Renewable Energy Sources with a total capacity of 10MW. L&T Sun Power Ltd, combines the joint efforts and the common goal of the investors and company’s shareholders which are Justy Business Ltd of Dr. Read More

Cyprus gets EBRD and EU financing for natural gas

Cyprus’s dependency on oil for energy will be reduced after a €374 million landmark project introduces natural gas to the country for the first time. Cyprus will benefit from cleaner air and reduced energy costs thanks to the introduction of natural gas to the country, with a project jointly financed by the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the European Union (EU). The EBRD is providing a €80 million loan to the Natural Read More

Coronavirus: revised list of countries for travel to Cyprus

The health ministry announced three amendments to the list of countries from which Cyprus accepts visitors on Tuesday which mean changes in categories for Greece, Thailand and Morocco. The changes will take effect on Thursday. Greece will move from category A to B, Thailand from category B to A and Morocco from B to C. “The categorisation of countries, based on epidemiological risk assessment, is extremely dynamic and can change at any time, as the pandemic evolves and epidemiological data Read More

Heatwave has hit Europe, including Cyprus

A heatwave has hit Europe, including Cyprus, and just as Athens and Madrid made wearing masks compulsory to prevent a surge in coronavirus infections. Temperatures soared across Europe, heading above 40 Celsius in places, and with meteorologists in Cyprus forecasting 43 C inland by noon on Friday. On Cyprus, the heatwave hit earlier this week, with temperatures already up in the 40s since Monday.   Continue reading at source: Read More

University of Cyprus awarded Energy Globe Award 2020 for sustainability

The international environmental award Energy Globe Award 2020 for Cyprus was awarded to the energy sustainability research unit FOS of the University of Cyprus. The research team of the laboratory of photovoltaic technology and the research unit FOS participated in the international environmental competition with the European research programme SmartPV. The laboratory was awarded the International Environmental Award «Energy Globe 2020» for Cyprus by the International Jury Energy Globe, based in Austria. The Energy Globe Awards are the most well-known Read More

Tender for 5G network platforms in Cyprus launched

A public tender with a mandate to roll out 5G network platforms by 2025 covering at least 70% of the population of the Republic of Cyprus and all highways has been launched. This is what Philenews reported on Tuesday, adding that the permit process specifies that the tender will grant licences between the frequency spectrum available on the 700 MHz and 3.6 GHz bandwidths. And that the tender, announced by the Deputy Ministry of Research, Innovation and Digital Policy, Read More

Revised list of countries from which Cyprus accepts passengers made public

he Health Ministry on Tuesday announced the revised list of countries from which Cyprus accepts passengers. This will be in effect from Saturday, August 1. As already announced on Monday, the UK has been moved from category C to B, while Georgia now from category B to A. Also, Bulgaria and Algeria are now being moved from category B to C. The following countries are on Category A which lists those deemed safer compared to the rest as regards their Read More

UK passengers to Cyprus upgraded to Category B as from August 1

The Health Ministry on Monday announced that the United Kingdom is upgraded to Category B as from August 1, following an assessment of the countries’ Covid-19 risk. All passengers arriving from Category B countries are required to present a negative test result taken at least 72 hours before departure. And, regardless of nationality, they are required to apply for permission from https://cyprusflightpass.gov.cy/ within 24 hours prior to their departure for Cyprus.   Continue reading at source: Read More

Chevron ‘remains interested’ in East Med after Noble buyout

Chevron and its latest acquisition, Noble Energy the concession holder for Cyprus’ Aphrodite field, reaffirmed their intention of continuing cooperation with the government, Energy Minister Natasa Pilides said on Saturday. The minister told the Cyprus News Agency, that after contacts with both companies, she received reassurances that nothing has changed after Noble’s buyout by Chevron as regards their interest in the eastern Mediterranean and their strategic plan regarding the utilisation of the various licences they have in the region. It Read More

Final building permit issued for EuroAsia Interconnector converter station

Cyprus is now one step closer to lifting its energy isolation after issuing the final building permit to EuroAsia Interconnector for the construction of the high voltage direct current (HVDC) converter station in Cyprus to connect its electricity networks with Greece and Israel. Energy Minister Natasa Pilides welcomed the development in a post on twitter, saying it was “an important development for Cyprus”. According to a press release by the project developer, the issue of the permit to Siemens is Read More

Cyprus-Switzerland amend taxation treaty in trade boost

Cyprus and Switzerland on Monday signed a protocol amending the Treaty for the avoidance of double taxation in a move both sides said will boost their trade ties while attracting investment. The Protocol signed by Finance Minister Constantinos Petrides and Swiss Ambassador Pierre-Yves Fux introduces the minimum standards of the OECD’s Base Erosion and Profit Shifting (BEPs) as well as provisions concerning benefit entitlement.   Continue reading at source: Financial Read More

No new corona virus cases out of total of 2,465 tests

No new cases of corona virus were detected on Wednesday out of a total of 2,465 laboratory diagnostic tests carried out, according to the the Epidemiological Surveillance Unit of the Ministry of Health. In detail, the following laboratory diagnostic tests were carried out, without the detection of a case: 261 tests carried out with samples taken through private initiative.   Continue reading at source: Read More

Visitors from 51 countries in Groups A, B and C as from 23 July

As of today, visitors from 51 countries can enter Cyprus after the Epidemiological Monitoring and Control of Infectious Diseases Unit of the Medical Services and the Public Health Services carried out a reassessment of the epidemiological risk regarding Covid-19. Published today July 20th, 2020, the list is made up of 22 countries in Group A that can enter Cyprus without a corona virus free certificate, 21 in Group B that require a certificate showing negative PCR of Covid-19 administered within Read More

Cyprus ready to welcome more tourists, all precautionary measures in place, Transport Minister says

Cyprus is ready to welcome more tourists taking all precautionary measures against Covid-19, Transport Minister Yiannis Karousos said on Sunday. Speaking to the press, the minister said that authorities are following all necessary protocols and procedures in order to reduce the risk of spreading the virus. He said that when the flights resumed and the airports opened, there were only a few flights and a few hundred passengers but now we have reached approximately 6,000 passengers on a daily basis. Read More

One of Europe's largest Lidl stores has opened

This week saw the grand opening of the 18th Lidl store in Cyprus, in Kapsalos, Limassol. The ribbon was cut by Limassol mayor Nicos Nicolaides, who said the opening should greatly improve choices for the residents of the area. The store, on Ayias Filaxeos Street, is one of the largest Lidl stores in Europe and is set to offer consumers a renewed experience of shopping in a modern environment. “The new ‘Metropol’ style store is situated in the heart of Limassol, a Read More

Wizz Air adds Larnaca-Bergen route to itinerary

Wizz Air has announced a new route from Larnaca to Bergen in Norway from August, with passengers already able to purchase tickets starting from €24.99. Bergen is the second-largest city in Norway, a convenient gateway to the country’s fjords, a Unesco World Heritage City and former European Capital of Culture back in 2000, Wizz Air said. On May 28, the airline announced that Larnaca airport would be its newest permanent base, creating around 100 new jobs in the process. Read More

EAC opens Smart Poles competition aiming to transform cities

The Electricity Authority has invited proposals for the acquisition of Smart Poles in Cyprus worth up to €3 million, Phileleleftheros reported on Friday. Smart Pole manufacturers participating in the competition will be asked to supply upcoming projects as part of a “Smart City” transformation. The Smart Poles will be offered to interested Municipalities to erect them at designated areas within their territory.   Continue reading at s