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Cypriot

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Erdogan: Turkey to Beef Up Occupation Army in Cyprus

Erdogan: Turkey to Beef Up Occupation Army in Cyprus Turkish and Turkish Cypriot flags on display during a military parade in the occupied part of Cyprus. Credit: Turkish Ministry of Foreign Affairs President Tayyip Erdogan vowed on Wednesday to strengthen Turkey’s military presence in occupied northern Cyprus after the US lifted the defense embargo on […]

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Cyprus’ TUS Airways adding Larnaca-Iraklio route

Cyprus’ TUS Airways adding Larnaca-Iraklio route For the first time in its history, Cypriot carrier TUS Airways will start offering direct flights from Larnaca to Iraklio, Crete.  The route starts on December 16, with flights twice a week – on Mondays and Fridays – and fares starting at just 59 euros, one way.  At the […]

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Cyprus extends reduced fuel taxation

Cyprus extends reduced fuel taxation The Cypriot government extended the reduced excise duties on fuel until January 15, 2023, on Friday, in a bid to alleviate the effects of soaring inflation fueled by the war in Ukraine, with the Cypriot finance minister calling on households and businesses to save energy as fiscal measures cannot tackle […]

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Cypriot growth to reach 5.5% this year

Cypriot growth to reach 5.5% this year Cyprus’ economy is forecast to grow by 5.5% in 2022 on better-than-expected tourism arrivals, although the outlook is tempered by energy market turbulence which will sap demand later in the year, the island’s Central Bank said on Thursday. Updated projections of economic output were 2.8 basis points higher […]

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Halloumi is Cyprus’ main commodity

Halloumi is Cyprus’ main commodity Halloumi cheese is by far the biggest single product of the Cypriot economy, as the 2020 statistics on sales of industrial commodities by type showed last week. The main protected-origin product of the island accounted for 42,200 tons of produce in 2020 with a value of 285.5 million euros, according to […]

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Greek Cypriot Woman First to Publicly Kiss King Charles III

Greek Cypriot Woman First to Publicly Kiss King Charles III Jennifer Assiminios expressed her admiration for the King outside Buckingham Palace last week. Video screenshot A Cypriot woman who managed to kiss the newly-proclaimed King Charles III on the cheek as he greeted well-wishers outside Buckingham Palace has said she will “take that kiss with […]

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Cypriot banks take loan issue bar higher

Cypriot banks take loan issue bar higher Cyprus banks have tightened credit standards in the second quarter of 2022, while net new lending demand subsided, reflecting the geopolitical tensions and the uncertainty in the global economic environment, the Central Bank of Cyprus Bank Lending Survey for the second quarter has found. The survey’s results are […]

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Cypriot funds to bolster countryside

Cypriot funds to bolster countryside “The government supports rural areas and their residents,” Cyprus’ Transport Minister Yiannis Karousos said on Sunday evening, stressing that in 2019 the government adopted the National Strategy for the Development of Mountain Communities, for the first time since the establishment of the Republic of Cyprus. The minister was addressing a […]

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Greece gifts Cyprus a presidential jet

Greece gifts Cyprus a presidential jet The government has presented a Dassault Falcon jet to the Cypriot government for use as a presidential jet. The handover of the aircraft took place at Elefsina air base, near Athens, in the presence of Prime Minister Kyriakos Mitsotakis and Cyprus President Nicos Anastasiades. Greece had received the aircraft […]

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Greek Cypriot Farmer Threatened by Turkish Soldiers in Buffer Zone

Greek Cypriot Farmer Threatened by Turkish Soldiers in Buffer Zone Greek Cypriot Farmer Harassed by Turkish Soldiers in Buffer Zone Credit: (Video Screenshot) Philenews / YouTube Armed Turkish soldiers caught on video harassing a Greek Cypriot farmer in Denia village in the buffer zone were reportedly under investigation on Monday by United Nations Peacekeeping Force […]

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Cypriot economic activity indicators deteriorate

Cypriot economic activity indicators deteriorate External geopolitical uncertainty and soaring inflation continue to trouble the Cypriot economy, causing a decline across a number of leading economic activity indicators for the second month in a row, according to a report released this week by the University of Cyprus Economic Research Center. The report says the Cyprus […]

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Hellenic Dairies acquired 49% of Cypriot dairy Kouroushis

Hellenic Dairies acquired 49% of Cypriot dairy Kouroushis The Thessalian Hellenic Dairies group of Sarantis brothers announced the signing of an agreement for its participation in the share capital of the historic “Kouroushis” dairy industry in Cyprus. The agreement includes the acquisition of 49% of the share capital of “Kouroushis”, with management rights and provision […]

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Cyprus police arrest Ukrainian woman ‘holding knife’ at Russia celebration

Cyprus police arrest Ukrainian woman ‘holding knife’ at Russia celebration Cypriot police have arrested a Ukrainian woman suspected of threatening a group of Russians with a knife as they celebrated their National Flag Day, police and media said on Tuesday. The woman, aged 55, appeared holding a knife as a group of about 20 flag-waving […]

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Cypriot cash-for-passports scheme rife with tax failings: audit

Cypriot cash-for-passports scheme rife with tax failings: audit A cash-for-passports scheme discontinued by Cyprus in 2020 after a political furor cost the state hundreds of millions of euros in lost revenues from misdirected tax breaks, an independent watchdog said on Monday. Cyprus’s Auditor-General, which is an independent division of the state, said authorities may also […]

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Cyprus tourism weighs on environment

Cyprus tourism weighs on environment Cypriot fintech company WiRE FS CEO Pavlos Loizou last week commented on the state of the tourism sector in Cyprus and how it stands up to financial scrutiny, as well as how it has impacted sustainability efforts on the island. Loizou noted that at the surface level, Cypriot tourism has […]

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High demand for Cyprus properties

High demand for Cyprus properties The high demand in the Cypriot real estate sector is in the process of being met with numerous high-value investments, with the Limassol district taking the lion’s share, the Real Estate Agents Registration Council said on Thursday. The council noted that Limassol accounted for 46.5% of the total value of […]

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Cavusoglu: Turkey sent Greek, Cypriot vessels away form its continental shelf

Cavusoglu: Turkey sent Greek, Cypriot vessels away form its continental shelf Turkey prevented nine Greek and Cypriot naval units from entering the country’s continental shelf, Foreign Minister Mevlut Cavusoglu told a diplomacy conference on Monday, a day before a new Turkish drillship is set to leave the Mediterranean port of Mersin. It was not clear […]

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Cyprus offers consumers power subsidy

Cyprus offers consumers power subsidy The Cypriot cabinet decided on Thursday to introduce a subsidy that will cover part of the increase in electricity rates. As Minister of Finance Constantinos Petrides stated, the subsidies will be made available for residential, commercial and industrial consumers and will cover between 50% and 100% of the hikes. The […]

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Cypriot gas finds bolstered by EU policy shift

Cypriot gas finds bolstered by EU policy shift The European Union’s drive to slash reliance on Russian natural gas is boosting the strategic importance of finds in Cyprus, the country’s energy minister said according to Kathimerini’s Cyprus edition. “Europe is a good potential customer for Cypriot gas as the EU has confirmed that natural gas […]

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Cypriot fetal doc lauded

Cypriot fetal doc lauded Foreign Minister Nikos Dendias paid tribute to the work of world-renowned Greek Cypriot fetal medicine pioneer Dr Kypros Nicolaides at the King’s College London university and hospital in a special ceremony held in the British capital. “We are particularly proud of the service Kypros Nicolaides provides to the global community. He […]

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New drilling at Aphrodite field in 2023

New drilling at Aphrodite field in 2023 Cypriot Energy Minister Natasa Pilides announced on Thursday that the development of the Aphrodite field in Cyprus’ exclusive economic zone will continue with additional offshore drilling in the first quarter of 2023. The announcement was made following a meeting, in Parliament, with the president of the House of […]

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Crucial week for salaries in Cyprus

Crucial week for salaries in Cyprus The Cypriot government intends to reach an agreement in principle by Friday on the introduction of the minimum wage, after the planned meetings between Labor Minister Kyriakos Kousios and employers and trade unions. On Thursday, the minister will have separate meetings with each trade union and employer organization in […]

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Cypriot president tests positive for Covid-19

Cypriot president tests positive for Covid-19 Cyprus President Nicos Anastasiades has tested positive for Covid-19, authorities said on Tuesday. Anastasiades, 75, has mild symptoms and his general health is good, government spokesman Marios Pelekanos said. Cyprus recently reinstated compulsory mask wearing indoors, little over a month after scrapping it, to deal with a spike in […]

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Cypriot parliament suspends foreclosures

Cypriot parliament suspends foreclosures Cyprus’ parliament has passed a bill suspending foreclosures until the end of October. Finance Minister Constantinos Petrides expressed his disappointment at the move, arguing that failure to offer an efficient foreclosures framework would in effect “punish” consistent borrowers. The House plenary passed the bill tabled by five opposition parties (AKEL, EDEK, […]

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Cyprus state services going digital with new portal

Cyprus state services going digital with new portal The Cypriot government announced on Wednesday the launch of its new internet portal, gov.cy. It described it as a redesign of the way citizens and businesses deal with the public sector. It also announced the new Social Insurance Services electronic service and the new childbirth allowance. Source […]

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Turkish Cypriot leader: No single state in Cyprus

Turkish Cypriot leader: No single state in Cyprus Turkish Cypriot leader, Ersin Tatar, is steadfast in his position regarding a two-state “solution” in Cyprus. As he repeated in his interview with Turkish newspaper Cumhuriyet, in his opinion the only guarantor of the Turkish Cypriots is Turkey. If the Greek Cypriots had said “yes” to the […]

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Cypriot rate for mortgages at 3.5-yr high

Cypriot rate for mortgages at 3.5-yr high A total of 362.9 million euros in new loans were issued in Cyprus in May, according to data released by the Central Bank of Cyprus on Tuesday. The increase in new loans is mainly thanks to the rise in both loans of over €1 million and loans for […]

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Cypriot central banker favors rate increase

Cypriot central banker favors rate increase The governor of the Central Bank of Cyprus, Constantinos Herodotou, has said he is in favor of the European Central Bank gradually increasing key interest rates while keeping its options open, stressing that the ECB should consider the impact of each increase and act accordingly. Speaking to CNBC on […]

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ION Chocolate Brand Synonymous with Greece Sold to Cypriot Company

ION Chocolate Brand Synonymous with Greece Sold to Cypriot Company Ion’s milk chocolate with whole almonds is one of the favorites in Greece. Credit: ION The buyout of one of Greece’s major chocolate and confectionery manufacturers, ION, was approved by the Hellenic Competition Commission (HCC) on Tuesday. ION is being bought by Bespoke SGA Holdings, […]

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Cypriot tax cut for startup investments

Cypriot tax cut for startup investments Cyprus’ 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 or medium-sized innovation company is extended to cover corporate investors as well. According to a press release by the Ministry of Finance, the […]

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