Turkey is heading for a runoff vote on May 28, as incumbent President Tayyip Erdogan unexpectedly led over his opposition rival Kemal Kilicdaroglu in the first round of elections. As state news agency Anadolu reported, with almost 99.38% of ballot boxes counted, Erdogan was ahead with 49.42% of votes, while his main opponent Kilicdaroglu garnered
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During his meeting with President Nikos Christodoulides, Israeli Prime Minister Benjamin Netanyahu discussed building a pipeline to transport Israel’s natural gas reserves to an LNG plant that will be constructed in Cyprus and then sent to Europe. Netanyahu said during last week’s meeting, the two leaders also agreed to continue developing the tripartite alliance with
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Former Larnaca Bishop Chrysostomos on Monday was found guilty of sexually assaulting a teenage girl in a historic case dating back 42 years. The high-ranking priest was found guilty after a year-long trial, which ended with the Larnaca District Court finding the testimony of the now 58-year-old victim and the defence witnesses credible. As the
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Europe’s largest integrated casino resort City of Dreams Mediterranean will open its doors in Limassol on 10 July after more than four years of waiting, Melco said. City of Dreams Mediterranean, the first integrated casino resort in Europe, also showcases Cyprus’ biggest expo centre. Its opening was delayed by over a year due to the pandemic.
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The deal between social partners to renew the Cost-of-Living Allowance agreement to cover 66.7% of inflation, up from 50%, means the state will pay an additional €1 bln in salaries over three years (2023-2025), according to estimates. News site Stockwatch, quoting government sources, said the state would dish out €1.2 bln to cover salary increases
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Cypriots are dissatisfied with the functioning of the country’s public administration and want reduced bureaucracy, skilled civil servants, and more communication, according to a flash Eurobarometer survey. Cypriots also called for better interaction with state officials and more user-friendly digital services. Respondents expect the EU to help Cyprus to conduct reforms by providing financial and
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The rising cost of construction in Cyprus, the restriction on the supply of suitable units in residential and central areas, VAT, the lack of titles, etc., have all turned the interest of part of the market to the acquisition of units of a certain age. In most cases, these units need upgrading or repair, while
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Portfolio investors and fund managers have dumped petroleum futures and options, reversing the buying frenzy inspired by the production cuts announced by Saudi Arabia and its OPEC-plus allies at the start of April. The position has essentially returned to where it was on March 21 before OPEC-plus surprised investors by announcing production cuts on April
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With 75 days into Nikos Christodoulides’ administration, the ethical issues of appointments seem to be piling up. And this is not exclusive to the incumbent government. After the miscalculated selection of an unqualified appointment to the Public Service Commission, the powerful body that oversees all hirings and promotions in the civil service, another problem arose
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Real estate takes many forms, such as a place of business, for touristic purposes, and as a store of value, to name a few. It also impacts associated industries like building insurance, construction materials, air conditioning, cable, and furniture. Demand in the residential market is mainly driven by population growth, household formation, employment and income
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