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 Friday, 28 June, 2019
RYANAIR BECOMES No1 CYPRUS AIRLINE, ADDS NEW ROUTES 25 ROUTES (7 NEW) FOR 2019, 1.2M CUSTOMERS P.A

RYANAIR BECOMES No1 CYPRUS AIRLINE, ADDS NEW ROUTES 25 ROUTES (7 NEW) FOR 2019, 1.2M CUSTOMERS P.A

Ryanair, Europe’s No.1 airline, today (26 June) confirmed it will continue to grow in Cyprus next winter and will deliver a total of 1.2m customers annually at Larnaca and Paphos airports, a 30% increase year-on-year. Ryanair expanded its 2019/2020 winter schedule, and will deliver 25 routes in total including 7 new routes from Paphos. Continued growth in Cyprus has put ...
Local Thursday, 27 June, 2019
Residential property values based on rents today

Residential property values based on rents today

In quite general terms, the use of the rental capitalization method for the valuation of an income producing property is based on the rental value of the property capitalised by the appropriate rate (cap rate) based on the yield.  CYPRUS has had an increase in property rental prices (an issue which is largely discussed throughout media these days) during the last few mont...
Local Wednesday, 26 June, 2019
CYPRUS: Wildfire alert as island suffers extreme heat and dust

CYPRUS: Wildfire alert as island suffers extreme heat and dust

As extreme temperatures and high dust levels grip Cyprus, the Forestry Department issued a ‘red alert’ for the very real possibility of wildfires. A “red alert” issued by the Forestry Department calls on the public to avoid all activities which could possibly cause a fire and appeals for everyone’s cooperation. Anyone who spots smoke or fire shou...
Local Friday, 31 May, 2019
CYPRUS: Technology and education best tools to fight art crime

CYPRUS: Technology and education best tools to fight art crime

The use of modern technologies, such as artificial intelligence to process the vast databases of artworks, as well as education at all levels, are the best tools to protect cultural heritage and combat art crime, the third largest criminal enterprise in the world, according to a leading expert. Maurizio Seracini, widely considered an authority on diagnostics of architecture an...
Local Thursday, 30 May, 2019
Unchanged the criteria for granting loans - Increased demand for mortgage loans

Unchanged the criteria for granting loans - Increased demand for mortgage loans

In the first quarter of 2019 Unchanged in the first quarter of 2019, compared to the previous quarter, the criteria for lending to businesses and households in Cyprus remained unchanged.  At the same time, the demand for housing loans continued to increase in the first quarter, while the demand for consumer loans remained unchanged. Banks expect th...
Local Tuesday, 28 May, 2019
Cyprus building & construction driven by passports

Cyprus building & construction driven by passports

Although the years of austerity in the Cyprus building and construction sectors appear to be over, pundits believe that they remain heavily dependent on the passport for investment scheme.  THE CYPRUS building and construction industries are enjoying a revival and continuing to regain the lost confidence of the crisis years, with stakeholders encouraged by an increase in ...
Local Monday, 27 May, 2019
Nicosia Hilton renamed The Landmark Nicosia by new owners

Nicosia Hilton renamed The Landmark Nicosia by new owners

After its acquisition by PANGAEA and Invel, the Nicosia Hilton is changing its name to The Landmark Nicosia.  The new name and logo will come into force on June 1.The change by the new owners was anticipated. Christoforos Papachristoforou, founder and managing director of Invel and executive vice president of PANGAEA said that with the change of ownership, the time has co...
Local Friday, 24 May, 2019
More Cypriots want to send their names to Mars

More Cypriots want to send their names to Mars

Around 600 people from Cyprus have so far registered to send their names to Mars with NASA`s Mars 2020 rover. NASA invited the public from all over the world to submit their names to fly aboard the next Mars mission. A press release by NASA says that although it will be years before the first humans set foot on Mars, NASA is giving the public an opportunity to send their name...
Local Thursday, 23 May, 2019
DBRS: Cyprus Faces Significant Credit Challenges

DBRS: Cyprus Faces Significant Credit Challenges

DBRS rating agency says that Cyprus faces significant credit challenges related to still sizable non-performing exposures (NPEs) in the banking sector, high levels of private and public sector debt, external imbalances, and the small size of its service-driven economy, which exposes Cyprus to adverse changes in external demand. In a media statement issued Monday, following the...
Local Wednesday, 22 May, 2019
New York’s Famed Wolfgang’s Steakhouse Soon to Open its Doors in Limassol

New York’s Famed Wolfgang’s Steakhouse Soon to Open its Doors in Limassol

The very first Wolfgang’s Steakhouse by Wolfgang Zwiener in Europe is set to welcome diners into a striking eatery on the main Limassol seafront road this June, delighting gastronomes and red meat connoisseurs in Cyprus’ buzzing cosmopolitan hub with the finest quality USDA Prime Black Angus beef. The renowned classic American steakhouse, and highly regarded celebr...
Local Tuesday, 21 May, 2019
EY Cyprus Recognised as National Tax Firm and National Transfer Pricing Firm of the Year

EY Cyprus Recognised as National Tax Firm and National Transfer Pricing Firm of the Year

EY Cyprus was named Cyprus Tax Firm of the Year for the second consecutive year and Cyprus Transfer Pricing Firm of the Year by ITR in recognition of the high quality tax services offered. The ITR European Tax Awards take place annually aiming to recognise distinguished tax service providers across Europe. The awards were presented at a gala dinner in London, on Thursday 16th&...
Local Monday, 20 May, 2019
THIS WEBSITE IS USING COOKIES
We use cookies to ensure that we give you the best experience on our website. If you continue using the site, we'll assume that you are happy to receive all cookies on this website and you have read our Cookies Policy.