. By Makis Georgiou The EuroAsia Interconnector project seems to be on target with its construction schedule to build the subsea high-voltage DC cable connecting energy-thirsty Crete to mainland Greece within three years and hooking up to Cyprus by late 2023. After securing a lease agreement for the site of the converter station near Kofinou,
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French giant CNP Assurance has bought out the remaining 49.9% stake in local insurers CNP Asfalistiki and CNP Cyprialife from Bank of Cyprus, having paid €97.5 mln for the company the Cypriot lender reluctantly acquired when Laiki Bank was shut down during the 2013 bailout debacle. The French insurer, majority-owned by the state and public
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The government is satisfied with the General Health System’s first week in operation, while observers fear the software it is dependent on could be overwhelmed. President Nicos Anastasiades after visiting Nicosia General Hospital lambasted critics who expected the new system would crash on the first day of implementation. Acknowledging that several problems made their appearances
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. The East Med offshore gas situation remains in a state of flux. After a diplomatic push by US officials to link the region to US interests, with an emphasis on offshore pipeline links to South East Europe, the need for regional cooperation however has again been given a boost. The Cypriot government has concluded
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UK Minister for Europe Sir Alan Duncan says Britain is opposed to Turkey drilling inside Cyprus’ Exclusive Economic Zone (EEZ) after he was criticised for calling it “disputed waters”. After Nicosia protested to London over the comments, the National Federation of Cypriots in the UK sent an open letter to Duncan requesting he made his
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A rush by investors to qualify for a Cyprus passport saw the submission of sales document with the Land Registry by third-country nationals skyrocket 55% in May compared to the previous month. The sharp increase is believed to be related to the new and more stringent criteria for the Citizenship for Investment scheme introduced from
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The lowest self-employment rates for persons born in a different EU Member State than the one they are residing in were observed in Luxembourg (8%), followed by Hungary, Sweden, Austria, Germany and Cyprus (each 9%). For persons born in a different EU Member State, the highest self-employment rate was recorded in Poland (38%), followed –
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The US is "deeply concerned" by Turkey’s announced intention to begin drilling in the waters off Cyprus and urged the Turkish authorities to halt the operation, said US Ambassador Judith Garber. She made the comments during the Independence Day reception hosted at the US Embassy in Nicosia, in the presence of Cyprus President Nicos Anastasiades
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Washington expects Turkey to refrain from illegal actions inside Cyprus’ exclusive economic zone and backs a regional alliance that involves Greece and Israel. This was the message from visiting US Deputy Assistant Secretary of State Matthew Palmer, said Cyprus government spokesman Prodromos Prodromou. "Central to discussions was Turkey’s illegal action in Cyprus waters, the EEZ
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Inflation was slightly up in May compared to April and to May last year, data released by the Statistical Service showed. In May, the Consumer Price Index increased by 0.14 units and reached 101.18 units compared to 101.04 units in April 2019. Compared to May 2018, the CPI increased by 0.2%. In the 12-month period
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