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British Airways to cut back on flights in November

British Airways will reduce its flight schedule this month after the UK government put further restrictions on leisure travel to try to curb the spread of coronavirus. “Our focus is on keeping crucial air links open – bringing home the thousands of customers currently abroad, transporting vital goods, and ensuring people who are permitted to travel in and out of th...

International Friday, 06 November, 2020

No deal Brexit strips expats of UK bank accounts

Thousands of Britons living in the EU will have their UK bank accounts closed by the end of the year because of the UK’s failure to agree a post-Brexit trade deal. Statement from the British High Commission, Nicosia: “Some of our UK nationals in Cyprus may have seen recent media coverage about some UK banks’ decision to close accounts belonging to EU/EEA res...

International Thursday, 15 October, 2020

House prices in Euro area up 5 per cent

House prices, as measured by the House Price Index, rose by 5.0% in the euro area and by 5.2% in the EU compared with the same quarter of the previous year. In the first quarter 2020 house prices rose by 5.1% and 5.6% respectively. These figures come from Eurostat, the statistical office of the European Union. Compared with the first quarter of 2020, house prices rose by 1.7%...

International Friday, 09 October, 2020

Wealthy Britons turn to Cypriot citizenship

The number of British entrepreneurs looking to “buy” citizenship from countries offering visa-free access to the European Union has risen sharply, investment migration firms say, as prospects of a post-Brexit trade deal between Britain and the bloc darken. Investment immigration firm Astons said it had seen a 50% and 30% year-on-year increase in interest from clien...

International Monday, 05 October, 2020

EU Trade Surplus At €99.7 Billion For The First Seven Months Of 2020

In January to July 2020, euro area exports of goods to the rest of the world fell to €1 199.6 bn (a decrease of 12.4% compared with January-July 2019), and imports fell to €1 086.6 bn (a decrease of 13.1% compared with January-July 2019). As a result the euro area recorded a surplus of €113.0 bn, compared with +€119.3 bn in January-July 2019. Intra-euro area...

International Thursday, 17 September, 2020

Ryanair to increase flights to 60% of normal schedule in August

Ryanair will increase flights to over 60% of its normal schedule throughout August following what it said on Thursday was a successful resumption of services at 40% of capacity last month following COVID-19 lockdowns. Europe’s biggest budget airline flew 4.4 million passengers in July, a broadly expected 70% year-on-year fall. It slashed its target for the financial year...

International Friday, 07 August, 2020

Cyprus And Switzerland Signed Protocol Amending The Double Taxation Treaty

Cyprus and Switzerland signed on Monday a protocol amending the Treaty for the avoidance of double taxation, with the two sides stating that the amended treaty will boost their economic ties. The Protocol signed by the Minister of Finance Constantinos Petrides on behalf of Cyprus and Ambassador Pierre-Yves Fux on behalf of Switzerland, introduces, among others, the minimum sta...

International Tuesday, 21 July, 2020

EU Invests Over €2 Billion In 140 Key Transport Projects To Jump-Start The Economy

Following a press release, the EU purports to support the economic recovery in all Member States by injecting almost €2.2 billion into 140 key transport projects. These projects will help build missing transport links across the continent, support sustainable transport and create jobs. The projects will receive funding through the Connecting Europe Facility (CEF), the EU's...

International Friday, 17 July, 2020

Wizz Air Abu Dhabi Announces New Route To Larnaca

Wizz Air Abu Dhabi, the newest national airline of the United Arab Emirates, announced today a highly anticipated route from Abu Dhabi to Larnaca starting on October 3, 2020. Wizz Air Abu Dhabi will provide a low-fare and high quality travel experience for its distinguished passengers. Tickets are already on sale on wizzair.com and the airline’s mobile app with fares star...

International Wednesday, 15 July, 2020

Quality of Europe’s bathing waters remains high, latest annual assessment finds

The quality of Europe’s bathing water remains high, according to this year’s European bathing water quality assessment published today. Just under 85 % of swimming sites across Europe monitored in 2019 met the European Union’s highest and most stringent ‘excellent’ quality standards. The results published by the European En...

International Monday, 15 June, 2020

Forbes: Why Cyprus Is Attractive For High New Worth Investor Immigrants

The Lay of the Land In the world of so-called global citizens, one of the key considerations is to have a second passport. The saying goes that you had no choice about where you were born, but you can certainly choose where you are going to live. This is particularly so when it comes to high net worth individuals. That category breaks down into: billionaires, centa-millionaire...

International Monday, 01 June, 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