Strong growth in construction continues

Strong growth in construction continues

The strong growth in the Cyprus construction sector continued in November with building permits authorised for the construction of 909 new homes according to official statistics from the Cyprus Statistical Service. THE CYPRUS construction sector maintained its strong growth in November 2019 with 707 building permits issued compared to 597 in November 2018, an increase of 18.4%...
Local Thursday, 27 February, 2020
Nicosia among top small European cities of the future

Nicosia among top small European cities of the future

Nicosia has been named as the top small European city of the future for human capital and lifestyle, Invest Cyprus said on Thursday. The capital was also ranked among the top 10 small European cities of the future for foreign direct investment (FDI) strategy, reflecting the island’s increased efforts to attract inward investment. The annual list by FDI magazine, publish...
Local Monday, 24 February, 2020
Highest Volume of Tourist Arrivals Ever Recorded For The January Period

Highest Volume of Tourist Arrivals Ever Recorded For The January Period

On the basis of the results of the Passengers Survey released by Cystat, arrivals of tourists reached 85.622 in January 2020 compared to 81.970 in January 2019, recording an increase of 4,5%. January 2020 had the highest volume of tourist arrivals ever recorded in Cyprus during the specific month. Analysis of changes Tourist arrivals from Israel increased by 58,0% i...
Local Wednesday, 19 February, 2020
Number Of Students Choosing Cyprus’ Higher Education Institutions Constantly Rises

Number Of Students Choosing Cyprus’ Higher Education Institutions Constantly Rises

The number of students in Cyprus’ higher education institutions is constantly rising, the President of Cyprus, Nicos Anastasiades, said on Thursday evening, the CNA reports. Addressing a graduation ceremony of postgraduate students, at the University of Cyprus, the President said that according to official statistical data, from a total of 32,000 students in Cyprus&rsquo...
Local Monday, 17 February, 2020
Cyprus GDP Set To Grow Over The Next Two-Year-Period According To Commission Forecast

Cyprus GDP Set To Grow Over The Next Two-Year-Period According To Commission Forecast

The economy in Cyprus will grow by 3.2% in 2019, 2.8% in 2020 and 2.5% in 2021, according the European Commission`s Winter Economic Forecast, published today in Brussels, and presented by Commissioner Paolo Gentiloni. Inflation will be 0.8% in 2020 and 1.2% in 2021 and "downside risks are primarily external notably a potential slowdown in foreign demand for residences and ...
Local Friday, 14 February, 2020
Paphos Among Most Popular For Overseas Buyers And Investors In 2020

Paphos Among Most Popular For Overseas Buyers And Investors In 2020

Paphos is in the lead for January 2020, as the most popular region for overseas buyers and investors for Europeans and Non-Europeans by 34.8% in comparison to Limassol which follows with 25.2%.   Larnaca is 3rd with 24.8% followed by Famagusta with 12.3 % and lastly Nicosia with just 5.9%. Sakis Hadjialexandrou, Leptos’ Group Marketing Director stated that, &ld...
Local Thursday, 13 February, 2020
Electric car grant scheme overwhelmed

Electric car grant scheme overwhelmed

A scrappage incentive scheme launched to encourage Cypriot motorists to replace their old high-emission bangers with new electric ones has received five times the number of applications expected. The Transport Ministry says it will now need two more weeks to extend the scheme due to the huge interest showed. Transport Minister Yiannis Karousos said on Wednesday that he is to ...
Local Thursday, 06 February, 2020
Huge drop in municipal charges after local government reform, says minister

Huge drop in municipal charges after local government reform, says minister

The cost of municipal fees and charges to the public will be as much as five times cheaper than now once local government reforms are in place, Interior Minister Nicos Nouris said on Monday. Speaking after a meeting of the House interior committee, Nouris said the drafting of the bill had been completed and it was hoped to have the debate on the various issues by summer after ...
Local Tuesday, 04 February, 2020
Private, public development proof of economic impetus

Private, public development proof of economic impetus

President Nicos Anastasiades said that multi-billion private developments and expenditure on public utilities, also amounting to several billion euros, are proof of the economy’s dynamic development and of restored confidence. Speaking on Wednesday evening at the In Business Awards in Nicosia, he said they come as a result of a stable economic environment after prudent a...
Local Friday, 31 January, 2020
Cyprus joins Mars Society which advocates colonisation of Red Planet

Cyprus joins Mars Society which advocates colonisation of Red Planet

Cyprus has become a member of the international Mars Society, which seeks to promote the exploration and colonization of the planet. The Cyprus Space Exploration Organisation (CSEO) concluded an agreement through which the Cypriot chapter of the Mars Society is founded. The local chapter will drive Mars-related research domestically and in cooperation with other nations (www....
Local Tuesday, 28 January, 2020
Affordable housing incentive scheme fails

Affordable housing incentive scheme fails

The government’s affording housing scheme, which offers developers incentives to provide cut-priced homes for low-income groups, has failed to attract developers wishing to participate in the programme. Government efforts to counter rising rents and homelessness by giving incentives to building developers to put cheaper flats on the market has fallen short. Part of...
Local Thursday, 23 January, 2020
Cyprus repays crisis-era IMF loan ahead of schedule

Cyprus repays crisis-era IMF loan ahead of schedule

NICOSIA, Cyprus — Cyprus has paid off ahead of schedule an International Monetary Fund loan that was part of a multi-billion euro financial rescue deal in 2013, the finance minister said Tuesday. Minister Constantinos Petrides said the loan’s early repayment would bolster the country’s credibility in the eyes of investors and improve its ability to ra...
Local Tuesday, 21 January, 2020
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