Cyprus Airways offering discounted flights

Cyprus Airways offering discounted flights

Larnaca-based Cyprus Airways is offering the opportunity to make big savings with discounts of up to 46% if tickets are booked over the next few days. The promotion launched 3 September ends on 5 September. Travellers have the opportunity to fly to Cyprus Airways destinations in Europe and Middle East at lower prices.  Trips should be booked between 9 September and 18 De...
Local Wednesday, 04 September, 2019
Cyprus pays off EUR 2.5 billion Russian loan early

Cyprus pays off EUR 2.5 billion Russian loan early

Cyprus has fully repaid a loan it secured from Russia in 2011, a €2.5 bln lifeline to prevent the economy from collapsing after it was shut out of international markets. “A short while ago the Russian loan was fully paid off,” Finance Minister Harris Georgiades said on his official Twitter account, saying the remaining balance was €1.58 bln balance. &ld...
Local Tuesday, 03 September, 2019
Cyprus says its restoring reputation against money laundering stain

Cyprus says its restoring reputation against money laundering stain

Cyprus said it had substantially restored its reputation tarnished by money laundering allegations after the US Congress Financial Committee said Nicosia’s cooperation was beginning to produce results. Finance Minister Harris Georgiades said he welcomed the comments by Maxine Waters, Chairwoman of the US committee over the progress made by Cyprus on issues of anti-money ...
Local Monday, 02 September, 2019
Cyprus hopes to import gas for power grid before end 2021

Cyprus hopes to import gas for power grid before end 2021

Cyprus expects to start importing natural gas for power production in late 2021 if its complex tender procedure goes according to plan. The Cyprus Natural Gas Public Company (DEFA), announced last week that a Chinese-led consortium is the preferred bidder for the construction of a €300 mln LNG import terminal and related infrastructure. DEFA Chairman Symeon Kassianides s...
Local Wednesday, 28 August, 2019
Service sector confidence boosts economic sentiment

Service sector confidence boosts economic sentiment

Economic sentiment in August improved significantly, after consecutive months of negative territory, buoyed by stronger business confidence in services, retail trade and construction, according to the University of Cyprus benchmark index. The monthly Economic Sentiment Indicator (ESI-CypERC), calculated by the university’s Economics Research Centre increased by 3.6 point...
Local Tuesday, 27 August, 2019
Nicosia has become an illegal dumping ground

Nicosia has become an illegal dumping ground

Areas around the capital have been turned into illegal tipping sites as residents and rubbish collectors are dumping home and construction waste in fields and riverbeds threatening the environment and public health. Moreover, the government has come under fire from MPs and Municipalities for doing nothing to rectify the situation. Illegal landfills have been created in Mallou...
Local Monday, 26 August, 2019
Significant Annual Increase of Industrial Turnover Index

Significant Annual Increase of Industrial Turnover Index

The Industrial Turnover Index for May 2019 reached 145,1 units (base 2015=100), recording an increase of 8.1% compared to May 2018, the Cyprus News Agency reports. According to the Statistical Service of Cyprus, for the period January – May 2019, the index showed an increase of 7.9% compared to the corresponding period of the previous year. For Manufacturing, the index ...
Local Thursday, 22 August, 2019
 Cyprus has lowest rate for cyclists injured on the road

Cyprus has lowest rate for cyclists injured on the road

Cyprus, along with Luxembourg, had the lowest rate of cyclists killed in road accidents at zero per million of inhabitants but it was above the EU average for traffic-related fatalities. In Cyprus there were 54.2 road accident fatalities per million inhabitants in 2016, 11.8 in passenger cars, 7.1 in goods vehicles, 1.2 in buses and coaches, 2.4 on mopeds, 11.8 on motorbikes, ...
Local Wednesday, 21 August, 2019
EC asks Cyprus to comply fully with EU law

EC asks Cyprus to comply fully with EU law

THE EUROPEAN Commission on 25 July 2019 decided to send an additional letter of formal notice to Cyprus because their national rules do not comply with EU law on unfair commercial practices (Directive 2005/29/EC) and unfair contract terms (Unfair Contract Terms Directive, Council Directive 93/13/EEC). The Commission opened this infringement case in 2013 based on a series of co...
Local Monday, 19 August, 2019
First steps taken in Estia debt relief scheme

First steps taken in Estia debt relief scheme

The first steps have been taken to roll out the Estia debt relief scheme, although applications for the programme will not start until early September. According to the Cyprus News Agency (CNA), the finance ministry has asked banks to express an interest in participating in the scheme. The banks have been given 15 days to state whether or not they wish to enter into a memoran...
Local Monday, 12 August, 2019
Building Permits for Housing Units Record Big Annual Increase in the First Five Months

Building Permits for Housing Units Record Big Annual Increase in the First Five Months

Building permits for housing units recorded an annual increase over 45% in the first five months of 2019, the Cyprus News Agency reports. According to the Statistical Service, during the period January – May 2019, 2.820 building permits were issued compared with 2.596 in the corresponding period of the previous year. CyStat said that “the total value of these perm...
Local Saturday, 10 August, 2019
Building permits authorized for 907 new homes

Building permits authorized for 907 new homes

Building permits authorized in Cyprus during May 2019 provided for the construction of 907 new homes, compared with 541 in May 2018 according to official figures published by the Cyprus Statistical Service.  The total number of building permits authorized in Cyprus during May 2019 stood at 709 compared with the 612 authorized during May 2018; an increase of 15.8% accordin...
Local Friday, 09 August, 2019
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