Despite substantial interest, the ability to link renewable sources of energy to Cyprus’ electricity grid remains limited due to a shortage of electricity storage systems, Energy Minister George Lakkotrypis has conceded. Speaking to a parliamentary committee on the Ministry’s budget for 2019, Lakkotrypis outlined the Ministry’s plans to launch new schemes aimed at subsidising the
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Revenue generated by the Cyprus ship management industry in the first half of 2018 amounted to €506 mln, or 5.1% of GDP, the highest level since 2013. Income increased by €30 mln in H1 on the same period of 2017. According to the Central Bank of Cyprus ship management survey, in absolute terms, revenue for
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Cabinet has given the green light to the Deputy Shipping Ministry to conduct a study which will identify ways of financing the reinstatement of a ferry link between Cyprus and Greece that was discontinued in 2000. In statements after Thursday’s cabinet meeting, Deputy Shipping Minister Natasa Pilides said the government has backed a study concerning
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Cyprus has been warned by the European Commission that it is failing the EU’s 2020 recycling targets for municipal waste, with experts blaming 20 years of ineffective state policies. While the recycling target set for EU members states for municipal waste for 2020 is set to 50%, according to Eurostat data for 2016, Cyprus’ municipal
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Overall lending from Cyprus banks during the first nine months of 2018 has dropped despite the significant decrease in interest rates and the economic growth the country has witnessed. According to Central Bank of Cyprus data, a drop of 6.2% in overall borrowing was recorded year-on-year. The drop is mainly a result of the 16.3%
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. By Michael Doherty When we think of retiring to another country what comes to mind, for most of us, is a move from the UK to a sunshine destination such as Cyprus. But for many expats the move is in the other direction. They have spent years living and working abroad and now they
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Cyprus will follow the right steps, without promoting disputes, to fully implement its energy plans, Defence Minister Savvas Angelides told the Cyprus News Agency. The Minister spoke about Cyprus’ regional cooperation with Egypt, Israel and Greece, as well as France, underlining France’s special focus for peace and stability in the Eastern Mediterranean. He said through
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A South African investor planning to build Larnaca’s first shopping mall has accepted the terms set by the Larnaca Municipality and is now pushing for red tape procedures to be fast-tracked for the multi-million project. Town Planning has given the green light and is now awaiting some additional documents from the South African company Acsion
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. By Nikolas Koukounis Ink has been poured and time has been spent for the regulation of short tenancies, mostly secured through online platforms such as Airbnb and Booking.com. This article advocates that the Cyprus Airbnb Bill needs a rethink as it seems to be misfocused, potentially unconstitutional in parts and unnecessarily over-regulates the market
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By Duncan Woodside (AFP Agence-France Presse) Olive farmer Andreas Fotiou steered carefully along a dusty lane in southwest Cyprus, en route from his village to nearby groves — locations that could have clashing trade regimes, post-Brexit. He fears he could lose out on vital EU subsidies, and even be forced to pay crippling tariffs, if
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