Cyprus meets 23 milestones to unlock next round of EU funds The European Commission on Monday endorsed a positive preliminary assessment of Cyprus’ fourth payment request under the Recovery and Resilience Facility (RRF), the central pillar of the European Union’s NextGenerationEU recovery programme. The request, valued at €75.9 million, was submitted by Cyprus on December 18, 2024. Following its […]
The Air Traffic Control Service in Cyprus is tasked with managing approximately 420,000 flights per year. In recent days, increased pressure was noted, with an additional 500 flights daily due to unrest in the Middle East. Revenue from these services amounts to around €58 million annually. How are these services managed, and how does the […]
Paphos recorded the highest number of luxury home sales exceeding €500,000 in the first quarter of 2025. Data compiled by Sotheby’s International Realty, a major real estate network with operations in Cyprus, highlights significant shifts within the island’s property sector. Anastasia Gianni, CEO of Cyprus Sotheby’s International Realty, noted that the first quarter of 2025 signifies a […]
Eurobank on Friday announced its intention to explore a parallel listing of its shares on the main market of the Cyprus Stock Exchange (CSE), following the successful completion of its acquisition of Hellenic Bank. This move marks what the bank described as “the largest foreign investment ever implemented in Cyprus”. The development comes in the […]
European Commission President Ursula von der Leyen has floated the idea of cooperating with Asia to promote rules-based free trade. She says it could serve as the basis for redesigning the World Trade Organization. Von der Leyen spoke on Thursday after a European Union summit. She referred to the Comprehensive and Progressive Agreement for Trans-Pacific […]
Nicosia’s Municipal Swimming Pool has reopened to the public after remaining closed for four years whilst undergoing renovation. The facility, commonly known as “Lellos Pool” amongst locals, suspended operations in September 2021 to allow for renovation works. The municipal pool’s reconstruction was completed in December 2023, though it has since been available only to competitive swimmers. The […]
If you’re looking for a bargain on a car, the Bank of Cyprus may have just what you need. The bank is putting a wide range of used vehicles on the auction block next week, offering something “for every taste,” according to its official announcement. The auction will take place on Tuesday, July 1, 2025, […]
On Saturday, the weather will be mostly clear, with some localized low cloud likely forming along parts of the coastline. Temperatures will reach extremely high levels, climbing to 41 degrees Celsius inland. On the coasts, highs will be around 35 degrees in the south, east and north, and 33 degrees along the west. In the higher mountain […]
The Cyprus Shipping Chamber has welcomed the implementation of the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships, which officially enters into force today, 26 June 2025. The Convention represents the first global legal framework that ensures ship recycling is carried out in a safe and sustainable manner, protecting both […]
President Nikos Christodoulides has revealed that Cyprus has put forward the idea that some EU member states should undertake the initiative for the Union to examine the possibility of suspending the implementation of taxations, particularly related to the green transition or if needed cancel them, so that they do not affect EU competitiveness negatively. In a doorstep […]
Cyprus is set to have three systemic banks again after Alpha Bank Cyprus signed a final agreement on Tuesday to acquire most of AstroBank’s assets and liabilities. That followed the earlier dissolution of the Cooperative Bank and the closure of RCB Bank, which had left the island with only two systemic banks. The acquisition, valued […]
The Cyprus Stock Exchange (CSE) on Friday announced revised reception desk hours for the months of July and August 2025. According to the official statement released by the exchange, the updated schedule will apply specifically to the reception area located within the CSE building. On Tuesdays, the reception will operate from 07:30 to 14:00 and from 15:00 to 17:00. […]
CSE confirms Hellenic Bank delisting Eurobank on Friday announced its intention to explore a parallel listing of its shares on the main market of the Cyprus Stock Exchange (CSE), following the successful completion of its acquisition of Hellenic Bank. This move marks what the bank described as “the largest foreign investment ever implemented in Cyprus”. The development comes in […]
Tax incentives offered to attract international and Cypriot professionals to Cyprus have resulted in €406.6 million in tax exemptions over a three-year period, benefiting 25,277 employees who moved to the island for work between 2021 and 2023. The total salaries declared by these employees reached €1.31 billion, with exemptions ranging between 20 and 50 per cent depending on individual cases. The incentives […]
The China Enterprises Chamber in Cyprus (CECC) held its founding assembly in Limassol on Wednesday evening, with a view to strengthening business ties between Cyprus and China. The establishment of the CECC was welcomed by the Minister of Labour and Social Insurance, Yiannis Panayiotou, and the Chinese Ambassador to Cyprus, Liu Yantao, who expressed their […]
Transport Minister Alexis Vafeades has announced a new scheme to boost e-mobility in Cyprus, following its approval by the Cabinet. Speaking after the 25 June Cabinet meeting, Vafeades said the scheme was part of the state’s ongoing commitment to the transition to clean and sustainable forms of transportation and aimed at boosting the market for […]