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Cabinet greenlights phase 2 of lockdown exit plan, beaches to open May 23

Phase two of the lockdown exit strategy will go ahead as planned on Thursday, with the government also bringing forward the opening of beaches to May 23. This was announced by government spokesman Kyriakos Koushos after a meeting on Tuesday of the Council of Ministers. He said that after taking into consideration the advice from the team of scientists, the Cabinet had decided...

Local Wednesday, 20 May, 2020

Greek carrier Aegean to gradually restart overseas flights by end of May

Greece‘s largest carrier Aegean Airlines said on Thursday it will gradually restart flights from Athens to some major European destinations by the end of May, ending a suspension prompted by the new coronavirus pandemic. Aegean, a member of the Star Alliance airline group, suspended its international flights on March 26 as a result of flight restrictions related to the c...

International Friday, 15 May, 2020

Explore The Quality Of Life In The EU27

Curious about the well-being of Europeans and how you can personally compare to the EU27 average and other EU Member States? If so, Eurostat has released an interactive visualisation that provides deep insights into different aspects of quality of life in each Member State. The mix of statistical indicators with objective information such as income, housing conditions and work...

International Thursday, 14 May, 2020

Eurobank, Kedipes report strong 2019

In announcing its results for the last quarter of 2019, showing improvements across several metrics including profits and capital adequacy, Eurobank this week said it stands ready to withstand the ongoing crunch due to the coronavirus and help the community rebuild. For 2019 the lender posted profits of €44.5m compared to €42.5m in 2018. It said its capital adequacy ...

Business Saturday, 09 May, 2020

Trade Deficit At €479.5 million For January 2020

In January 2020, based on data released by Cystat, total imports were €699.6 mn as compared to €823.5 mn in January 2019. Imports from other EU Member States in January 2020 were €475.7 mn as compared to €375.7 mn in January 2019. Imports from Third Countries in January 2020 were €22.9 mn as compared to €447.9 mn in January 2019. Total exports in ...

Business Tuesday, 05 May, 2020

A New Global Methodology To Define Cities And Rural Areas

Have you ever asked yourself how Sustainable Development Goal indicators on sustainable cities and communities can be compared if countries across the world have a different understanding of what a “city” actually is? How can one analyse urban exposure to air pollution or rural poverty when there is no common understanding of what “urban” and “rura...

International Monday, 04 May, 2020

The Cyprus property market will rebound in 2021

The new reality since the lockdown in Cyprus is that all sectors of the real estate market have come to a standstill and many transactions already agreed in principle or even midway through have been frozen or postponed. SUPPLY-SIDE in recent years saw an increasing pipeline of high-priced residences come to the market with values derived primarily from the Cyprus Passport Sc...

Real Estate Friday, 24 April, 2020

Law regulating self-catering rentals enacted

The law regulating Airbnb and other self-catering accommodation rentals in Cyprus has been enacted requiring their owners to follow a set of regulations and formalities to legally provide their services. On Friday January 17, the House of Representatives passed a new law, The Regulation of the Establishment and Operation of Hotels and Tourist Accommodations (Amendment) La...

Real Estate Thursday, 09 April, 2020

Coronavirus: house prices set to fall, rents to rise

The coronavirus has produced many negative effects on the Cyprus economy and by projection to the real estate market. The precautionary measures taken by the government to reduce the effects of the virus also hope to protect also the economy, which has only started to revive. We hope that the virus will be beaten within a short period of time, but no one knows when that will be...

Real Estate Thursday, 02 April, 2020

Construction of new homes doubles

The number of building permits authorised in December 2019 provided for the construction of more than twice as many new homes as those authorised in December 2018 according to official figures. The construction of 1,107 new homes was authorised in December 2018 compared to the 504 authorised in December 2018 according to official statistics from the Cyprus Statistic...

Real Estate Friday, 20 March, 2020

The European Commission Presents New Industrial Strategy For A Globally Competitive, Green And Digital Europe

The European Commission presented a new strategy to help Europe's industry lead the twin transitions towards climate neutrality and digital leadership. The strategy aims to drive Europe's competitiveness and its strategic autonomy at a time of moving geopolitical plates and increasing global competition. The package of initiatives outlines a new approach to European industrial...

International Wednesday, 11 March, 2020

Standard & Poor’s affirms Cyprus’ growth prospects, highlights risks from virus

Standard & Poor’s Global Ratings affirmed on Friday its `BBB-/A-3′ long- and short-term foreign and local currency sovereign credit rating on Cyprus with a stable outlook.According to the report, the stable outlook incorporates Cyprus` robust growth prospects, improving public debt dynamics, and track record of running budgetary surpluses. It also takes into acc...

Business Monday, 09 March, 2020