Main opposition party AKEL has tabled two bills targeting excess profits with a whopping 90% windfall tax on energy producers working with Renewable Energy Sources. The bills tabled by the left-wing party foresee that producers will be taxed retrospectively for any excess profits they made in 2021 and 2022. The proposals also tax the excess
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Cyprus reported two coronavirus deaths during the past week on Friday, as hospitalisations stabilised at 47, down four from last week, while critical cases were limited at just two. The Health Ministry said in its weekly Covid report that there is only one intubated patient, with COVID-19 fatalities reaching a total of 1,182 since the
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Cyprus will request exemption from EU measures on a mandatory 5% reduction of energy demand during peak hours and a cap on the additional profits of companies that produce energy using lower-cost sources. European Union countries meet on Friday to approve emergency levies on energy firms’ windfall profits and launch talks on their next move
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By Craig Erlam Stock markets are bouncing back on Friday, although no one is getting excited by the moves which pale in comparison to the preceding losses. This looks like nothing more than a dead cat bounce after a steep decline over the last couple of weeks as investors have been forced to once again
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Interior Minister Nicos Nouris asked for the help of Cyprus peacekeepers (UNFICYP) to tackle a steep increase in illegal migration flows from the Turkish-occupied north through the UN-controlled buffer zone. During his US visit, he met at the United Nations in New York with UN Secretary-General’s Cabinet Chief Courtenay Rattray to discuss the situation in the
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Cypriots wanting to change their gender identity will soon be able to do so simply by submitting an under-oath application with the Registrar and paying a €50 fee. A bill recently submitted by the Ministry of Justice enables the procedure, which had been the subject of consultations over the past three years. The bill also
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The United Nations is extremely concerned that the option of a mutually-agreeable settlement of the Cyprus conflict is fading beyond reach. This was the stark message of UN head of mission Colin Stewart during a speech at the Cyprus Forum in Nicosia. Stewart said: “There is currently a political impasse with regard to the Cyprus
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The UK government has created a “loop of doom” that threatens the entire financial system and it must act urgently, the CEO of a leading independent financial advisory and fintech has warned. “Markets now know where the weakness lies. Intervention paints a target on the back of the body that intervenes,” deVere Group chief executive
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Larnaca-airport-based carrier Cyprus Airways has announced a unique project launch with two direct flights to Manchester in mid-October. Two direct flights to Manchester International Airport will operate from the UK to Larnaca starting from 11 October until 14 October. Flights are already available for sale, and tickets can be purchased at www.cyprusairways.com. Cyprus Airways said,
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Cyprus airports operator, Hermes, said it is offended by criticism over the extension of the 25-year concession agreement for Larnaca and Paphos airports. Hermes argues that the state has been rewarded €500 mln from the concession fee, calculated on the company’s gross revenues and not profit. It was the first public comment in a quarrel
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