Nicosia and Cairo on Wednesday signed an inter-state agreement paving the way for the Mediterranean’s first subsea pipeline to carry Cyprus natural gas to Egypt for re-export to Europe.   After signing the agreement, Cypriot Energy Minister George Lakkotrypis and his Egyptian counterpart Tarek El-Molla called the deal a landmark for developing Cyprus gas and

Ipsonas Municipality, in Limassol, has launched a pilot scheme to reward residents who recycle by offering them a reduction of up to 30% in their annual waste collection fee. A mobile application has also been developed, as part of the programme, allowing residents to notify the council once recycling bins are full. The scheme, which

Cyprus successfully issued 10-year European Medium-Term Note (EMTN), oversubscribed by more than five and a half times, raising €1.5 billion with an interest rate of 2.4%. Minister of Finance Harris Georgiades tweeted that the result “constitutes a vote of confidence for the Cypriot economy” and is a vindication of the responsible decisions and the great

Finance Minister Harris Georgiades on Tuesday ruled out any notion that the government intends to revise taxes for cheaper petrol as motorists go north.     Georgiades was addressing MPs’ concerns regarding queues of Greek Cypriots at crossing points, waiting to reach a Turkish Cypriot petrol station to fill their cars with cheaper petrol. The price

Cyprus was among the top five outperforming economies in the eurozone in the first half of 2018, according to a macro update published by DBRS on Tuesday. But Cyprus was the only top performing eurozone economy where consumer credit contracted, and mortgage lending was in negative territory. In fact, it was the second worst on

What happens in the coming weeks will determine the future of mired Cyprus reunification talks, the UN Secretary General’s Special Representative Elizabeth Spehar said on Tuesday. She held talks with President Nicos Anastasiades before his trip to New York to address the UN general assembly where he will hold talks with the UN chief. Spehar

US President, Donald Trump, has described Cyprus as a valuable partner of the US in a vulnerable East Med region, according to diplomatic sources. Trump was speaking at the ceremony during which he received the credentials of the new Ambassador of the Republic of Cyprus in Washington, Marios Lyssiotis. He said the two countries had

Despite an economic recovery and the end of harsh austerity the number of Cypriots close to the poverty trap is still one in four even after a slight drop. Data released on Monday shows that people at risk of poverty or social exclusion, dropped in 2017 to 25.2% from 27.7%. According to a survey on

An influx of tourists from new markets Poland and Ukraine helped Cyprus set another benchmark as arrivals for August were the highest on record paving the way for its best year ever, official data showed on Monday. The 534,000 arrivals in August 2018 comes after July registered the most tourists ever in a single month