Cyprus’ drive to attract high-tech companies, combined with increased interest from firms to relocate, moving from geopolitically unstable regions, is expected to boost demand for real estate. According to the Central Bank of Cyprus’ Residential Property Price Index (RPPI) report for 2022Q1, the war in Ukraine may create demand in the property market from businesses
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Nexans Norway AS has been named the preferred bidder for supplying and installing the EuroAsia Interconnector’s 1,208km subsea high-voltage DC cable. The EU-funded project, connecting the national electricity grids of Israel, Cyprus, and Greece, has secured €757 mln in European funding, primarily from the ‘Connecting Europe Facility’, as it is a ‘project of common interest’
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The percentage of flights affected in Cyprus by travel delays at European airports is milder, but Tourism Minister Savvas Perdios advised Cypriots to avoid travelling abroad during the holiday peak of July-August. Perdios said despite the travel chaos, the positive aspect is there are not hundreds of flights cancelled from Cyprus like other destinations such
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Interior Minister Nicos Nouris is frustrated at delays in recruiting 300 extra guards and instal Green Line surveillance to curb migrant flows from the Turkish-occupied north. On government plans to hire 300 special police to patrol the ceasefire line, Nouris said he’s not satisfied with the pace of the placing natural obstacles nor the formation
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Following the death of another young biker on Sunday, Cyprus has mourned 25 road accident victims in just over six months, with authorities puzzled why measures have not paid off. A traffic camera system introduced last year to reduce road deaths has done little to prevent accidents, while Cypriot drivers or riders ignore basic rules
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A government financial watchdog is concerned over the delays in Cyprus implementing its Recovery and Resilience Plan, warning that further delays will adversely affect economic growth and unemployment. In a statement, the Fiscal Council said the “issue should be addressed as urgent.” The Recovery and Resilience plan contains reforms and investments associated with the disbursement
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Monthly passenger traffic at Cyprus airports in June surpassed the one million mark for the first time in 33 months, said Larnaca and Paphos operator Hermes Airports. It said the best performing month for 2022, so far, is June, with the total passenger traffic reaching 1,009,069 (Larnaca Airport: 650,519 – Paphos Airport: 358,550) and the
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Volatility will define financial markets in the second half of 2022, but there are major reasons for investor optimism, affirms the CEO of one of the world’s leading independent financial advisory and fintech organisations. DeVere Group’s Nigel Green has upbeat assessment at the midpoint of the year as investors take stock of the past six
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If we believe in the Education Ministry, the school system is a breeding ground for diversity, inclusion, excellence and radical thinkers. Students are exposed to the finest teachers, modern classrooms, and a conducive learning environment free of bullying, peer pressure and falling academic standards. No matter how deep you look, there is certainly no racism,
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Regional energy regulators meeting in Larnaca this week concluded that despite disruptions in the world energy markets, the prospects for the future of Cyprus and the wider eastern Mediterranean are promising. The Cyprus Energy Regulatory Authority (CERA), the energy regulator of Greece (RAE), colleagues from Israel and Egypt, and officials of the transmission systems of
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