While property prices and rents rise due to a shortage in supply, some 33,000 homes across the island are unused, the Cyprus Technical Chamber ETEK, advises the government to introduce incentives for them to join the market. The government advisory body has told Interior Minister Constantinos Ioannou that the authority should consider the availability of
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Winless Cyprus face Champions League winner Erling Haaland and an out-of-form Norway in Tuesday’s Group A Euro 2024 qualification fixture. Cyprus hopes to get off the mark in their fourth group game at the Ullevaal Stadion in Oslo. The Cypriots will be looking to move on following a bitterly disappointing home defeat to Georgia on
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Under the fear of an increase in Non-Performing Loans, as the European Central Bank continues to push interest rates up, a heated debate is brewing over the right of defaulted borrowers to challenge foreclosures. Opposition parties are at odds with the government over the right of borrowers defaulting on their mortgage to challenge bank decisions
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Bank of Cyprus Oncology Centre is now a full member of the 120-strong Organisation of European Cancer Institutes (OECI), signalling its commitment to quality care. The Centre said this development is important as it can now participate in an international Non-Governmental Organisation that lists 123 members from European Union member states and confirms its commitment to
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By analysing the total number of sales contracts deposited in the Land Registry Office during the first five months of each year, it becomes evident the Cyprus real estate market is experiencing its most active year since 2008. Following the same metric, it becomes evident the Cyprus real estate market is experiencing its most foreign-dependent
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International rating agency, Fitch, affirmed Cyprus’ Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB’ assigning a Stable Outlook, assuming that fiscal surpluses continue despite an economic slowdown. Furthermore, the agency revised upward its projection for economic growth this year to 2.5% from its previous estimate of 2.1% GDP. Fitch said the general government balance would
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Due to estimated shortages in electricity generation capacity, Israel wants to fast-track its cable interconnection with Cyprus, said Energy Minister George Papanastasiou. Confirming media reports, Papanastasiou said the issue was discussed at a meeting with his Israeli counterpart, Israel Katz, during his visit to the neighbouring country last week. His visit explored possible natural gas imports from
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We were told that the President’s trip to Strasbourg was a resounding success; we know this because we were told so. And if the government says they are being taken seriously in the bosom of European democracy, then who are we to deny that premise? Dreams can come true, and why shouldn’t we allow President
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The visit to Israel this week of Energy Minister George Papanastasiou highlighted the urgency with which some infrastructure projects must be fast-tracked and delivered, preferably ahead of schedule. A series of power outages in the neighbouring country earlier in June, sparked by heatwaves and wildfires, revealed the weaknesses in their electricity grid. Politicians blamed each
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Efforts to transition to a carbon-neutral economy are doomed to fail if the government does not invest in energy storage facilities, as the island’s isolated grid cannot handle the excess load from renewable producers. According to energy analysts, despite the small contribution of RES to the island’s energy production, Cyprus’ grid is overloaded when solar
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