India’s drone power lands in Cyprus

India’s drone power lands in Cyprus

Indian business interest in Cyprus is gaining momentum, with drone tech leader Drone Destination planning to set up shop on the island. The company’s billionaire founder, Alok Sharma, is looking to make Cyprus a launchpad for expanding into European and Middle Eastern markets. Sharma, who heads India’s leading drone training and services company based in […]

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Larnaca gets realty buyers’ attention

Larnaca gets realty buyers’ attention

Larnaca is quickly becoming one of Cyprus’ hottest property markets, with demand and prices for newly built homes climbing sharply in early 2025. According to data from Landbank Analytics, Larnaca saw the second-highest increase in average sale prices for new houses in the first quarter of the year. Prices jumped by over 21% year-on-year, rising […]

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Cera gives green light for electricity storage facilities 

Cera gives green light for electricity storage facilities 

The energy regulatory authority (Cera) has approved in principle an application from the Cyprus Transmission System Operator (TSO) to develop energy storage systems, it emerged on Friday.  The request was submitted after parliament passed a harmonisation bill submitted by the government.  Cera’s decision allows the TSO to temporarily own, develop, manage and operate energy storage facilities.  The decision provides […]

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Invest Cyprus hails new drone hub project by Indian company

Invest Cyprus hails new drone hub project by Indian company

Invest Cyprus on Friday issued a statement welcoming the decision by India’s Drone Destination to establish its European subsidiary in Cyprus. The agency, tasked with driving investment to the island, described the move as a significant step in strengthening economic ties between Cyprus and India. The Indian company, which specialises in drone technology and training and is listed on NSE […]

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CBC satisfied with Moneyval assessment of Cyprus’ progress on recommendations

CBC satisfied with Moneyval assessment of Cyprus’ progress on recommendations

The Central Bank of Cyprus (CBC) has welcomed with particular satisfaction the announcement by the Council of Europe’s Moneyval Committee regarding the Enhanced Follow-up Report and Technical Compliance Re-Rating. The CBC said in a press release that the progress and upgrades achieved demonstrate that Cyprus continues to actively strengthen its legal and regulatory framework for combating […]

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European Commission welcomes political agreement increasing efficiency of EU capital markets

European Commission welcomes political agreement increasing efficiency of EU capital markets

The European Commission has welcomed the political agreement reached this week by the European Parliament and the Council on the amendment of the Central Securities Depositories Regulation (CSDR) to shorten the settlement cycle in the EU from two days to one by 11 October 2027. A press release by the European Commission says that settlement is the process […]

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Labour Minister refers to Cypriot positive labour market trajectory at EU Council

Labour Minister refers to Cypriot positive labour market trajectory at EU Council

Labour Minister Yiannis Panayiotou said that he spoke of the positive trajectory of the Cypriot labour market during an Employment, Social Policy, Health and Consumer Affairs Council which took place in Luxembourg. On the Council’s sidelines, the Labour Minister had a meeting with European Commission Executive Vice President Roxana Mînzatu and had bilateral contacts with other counterparts, and with European […]

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