House prices and rents are pushed up by a lack of supply, with real estate analysts proposing that authorities take drastic action to bring new properties onto the market, even by taxing unused land. Pavlos Loizou, CEO of Ask WiRE, told the Financial Mirror that a survey carried out by his firm has shown that
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The devastating earthquake that shook Armenia on December 7, 1988, had a magnitude of 6.8 but lasted 20 seconds, resulting in about 38,000 casualties. Any longer, and it would have had catastrophic consequences throughout the Caucuses. The public uproar from the poor foundations and flimsy construction of Soviet-era multi-storey mass housing in the 1970s and
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Trade unions and opposition parties in the Turkish-occupied north are in uproar after the ruling coalition intends to levy a year-long tax on salaries for earthquake support to Turkey. Reacting to the news, nine unions, including teacher unions KTOEOS and KTOS, and media staff union Basin-Sen, condemned the ruling coalition’s intentions. “The members of the
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It’s been business as usual for Cypriot firms exporting goods to the UK in the past two years as they dodged the Brexit bullet. Despite initial concerns, Cypriot exports to the UK have not only not managed to stay afloat but have risen thanks to the island’s flagship export, Halloumi cheese gaining even more popularity
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Before the new President of the Republic formulates his plans, I submit some views and suggestions to improve the real estate and construction industry. Adopting the Deputy Ministries by the previous government proved to be worth every investment. For this, I suggest the appointment of an undersecretary/deputy minister of the Ministry of Interior. The example
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President-elect Nikos Christodoulides will have his hands full trying to keep the peace among social partners, as trade unions are pressing for remedies to incomes under threat. With the restoration of the Cost of Living Allowance topping the list of demands, unions called a general strike just two weeks before the first round of the
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Interior Minister Nicos Nouris said that over 1,170 asylum seekers were returned to their countries of origin in January as Cyprus managed large irregular migrant flows. In a statement, the Interior Minister said that managing irregular migration remains a top government priority. Nouris said in the first month of 2023 alone, 1,172 persons were returned
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By Craig Erlam Equity markets are ending the week in the red after finally falling victim to the persistent disappointment of US economic data on Thursday. It’s taken a lot, but it would appear investors’ eternal optimism is being shaken, with the latest PPI figures driving the message home that bringing the economy in for
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French President Emmanuel Macron said his country and Cyprus would promote their “valuable relationship” during the term of new President Nikos Christodoulides. In a letter congratulating Christodoulides, Macron underlined his support “to a just and viable solution for the reunification of Cyprus within the UN parameters and based on a bizonal and bicommunal federation, providing full guarantees to
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Tide gauges in Paralimni recorded a half-metre high tsunami following the devastating earthquakes in Turkey and Syria on 6 February, with claims Cyprus is not ready to tackle bigger waves. Civil Defence receives warnings in case of danger from certified monitoring centres in the Mediterranean, after which the Geological Survey Department is automatically informed. In
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