Cyprus gets EBRD and EU financing for natural gas

Cyprus gets EBRD and EU financing for natural gas

Cyprus’s dependency on oil for energy will be reduced after a €374 million landmark project introduces natural gas to the country for the first time. Cyprus will benefit from cleaner air and reduced energy costs thanks to the introduction of natural gas to the country, with a project jointly financed by the European Bank for Reconstruction and Development (EBRD), th...
Local Tuesday, 04 August, 2020
Interior minister announces fast-track building permits

Interior minister announces fast-track building permits

A planning or building permit will be readily available between 10-20 days as part of a new move to cut bureaucracy, Interior Minister Nicos Nouris said on Wednesday. In a press conference, Nouris said the fast-track would begin as of October 1. Those who submit the application in writing will have the permit ready in 20 days while those who apply online can have the permit in...
Local Thursday, 30 July, 2020
Cyprus will see tourists from the UK, says ACTA president

Cyprus will see tourists from the UK, says ACTA president

When Cyprus opens to UK tourists – who must still be tested – on 1 August, individual tourists will come, says President of the Association of Cyprus Travel Agents Vassilis Stamataris, in an interview with the Cyprus Mail. Stamataris explains that ACTA has done research in the UK, and has found that there is pent-up demand. ACTA has also found a very big company th...
Local Wednesday, 29 July, 2020
Paphos undergoes multi-million facelift

Paphos undergoes multi-million facelift

Paphos is in for a facelift with its fair share of new developments while getting smarter with digital projects worth tens of millions of euros nearing completion or in the making. Once lagging behind other towns in Cyprus regarding development activity, Paphos is catching up with the construction industry picking up from where it left off before the coronavirus outbreak with ...
Local Monday, 27 July, 2020
Cyprus Banking Sector Capital Levels Reaches Historic High In End-2019

Cyprus Banking Sector Capital Levels Reaches Historic High In End-2019

The banking sector’s capital levels reached a historic high in the end of 2019, placing the Cypriot banks on a better footing to face the crisis stemming from the coronavirus outbreak. According to Key Aggregate Financial Indicators for the Cyprus Banking Sector for 2019Q4, released by the Central Bank of Cyprus (CBC) the Core Tier 1 Capital of the Cyprus banks amounted ...
Local Friday, 24 July, 2020
Tepak paving the way as a university of the future

Tepak paving the way as a university of the future

The European University of Technology – EUt+ Alliance, of which Cyprus University of Technology (Tepak) is a member, is one of the 24 winners of the second call for proposals for pilot initiatives to create European universities of the future. This successful bid will support the eight-member transnational alliance to establish a pioneering collaborative model that will ...
Local Wednesday, 22 July, 2020
€133,1 Million Cyprus Total R&D Expenditure For 2028

€133,1 Million Cyprus Total R&D Expenditure For 2028

Following data released by Cystat on scientific research and experimental development, total R&D expenditure in Cyprus in 2018 was estimated at €133,1 million which corresponds to 0,63% of the Gross Domestic Product, compared to €110,2 million, or 0,55% of the GDP in 2017. Despite the substantial increase of 20,8% observed in R&D expenditure in 2018 relative ...
Local Thursday, 16 July, 2020
Cyprus’ largest ever housing project will help low-income families

Cyprus’ largest ever housing project will help low-income families

Limassol municipality and the Land Development Corporation (KOAG) reached an official agreement on Thursday regarding the establishment of the largest housing project ever undertaken in Cyprus, worth €100 million. The agreement will involve the construction of over 600 new housing units in Limassol to meet the needs of low-income families, students and...
Local Tuesday, 14 July, 2020
First augmented reality app launched in Paphos

First augmented reality app launched in Paphos

The Paphos tourism board is leading the way using technology to enhance the visitor experience and has launched the first augmented reality application in Cyprus. The Myth of Aphrodite app, which is free to users, and unique in Cyprus, highlights the myth of Aphrodite, and may be downloaded from both Google and Apple online stores. It will also be free to downloaded at hotels,...
Local Monday, 13 July, 2020
Kassianides: Cyprus to Enter the Natural Gas Era

Kassianides: Cyprus to Enter the Natural Gas Era

Cyprus as of July 9 will enter the natural gas era, Natural Gas Public Company Chairman Symeon Kassianides has said as tomorrow the President of the Republic will lay the foundation stone for the construction of the Cyprus LNG Import Terminal Project in Vassiliko. The project with a total budget of €289 million, is considered to be the largest energy project Cyprus an...
Local Friday, 10 July, 2020
Wizz Air: 3rd Based Aircraft in Larnaca and 5 New Routes

Wizz Air: 3rd Based Aircraft in Larnaca and 5 New Routes

Wizz Air, Europe's fastest growing and greenest* airline has announced the allocation of the 3rd aircraft to its Larnaca base. The new Airbus A320 will join the fleet on 1 August 2020, enabling the start of five new routes from Larnaca to Paris Beauvais, Eindhoven, Prague, Gdansk and Heraklion as well as the increase of f...
Local Thursday, 02 July, 2020
Guide to residency in Cyprus

Guide to residency in Cyprus

There will be changes to the way that UK nationals can live, travel and access services in Cyprus after 31 December 2020. The below FAQs explain the importance of obtaining or updating your residency status, the benefits that residency gives you and the difference between temporary (MEU1) and permanent residency (MEU3). Please visit the GOV.UK Living in Cyprus guide&nbsp...
Local Tuesday, 30 June, 2020
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