Construction of a liquefied natural gas (LNG) terminal at Vassiliko is stuck after a dispute between the government and the consortium implementing Cyprus’ largest energy project. With long delays already under its belt, the project is back another nine months, confirmed by Energy Minister Natasa Pilides. Nicosia signed a landmark deal to build a €290
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Her Royal Highness, Princess Royal, Princess Anne, will visit the Republic of Cyprus, the United Nations Buffer Zone and the British Bases at Dhekelia on January 10-11. The visit – an invitation from UN peacekeepers – will allow The Princess Royal to meet and thank the serving British peacekeepers from The Queen’s Own Gurkha Logistic
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Development of natural gas deposits in Block 6 licensed to consortium Eni-Total in Cyprus’ exclusive economic zone will proceed faster, Energy Minister Natasa Pilides said. Pilides accompanied France’s Total vice president Laurent Vivier at a meeting with President Nicos Anastasiades on Monday. “We discussed the company’s commitment and optimism concerning the Cypriot EEZ and the
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Brussels hinted at approval for the mortgage-to-rent scheme for distressed borrowers, urging Cypriot authorities to create a company dedicated to managing it. The European Commission’s Directorate-General of Competition has instructed the Ministry of Finance to speed up procedures for establishing a company that manages the mortgage-to-rent scheme. According to reports, it has instructed the Finance
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Weeks after offloading 3.2% of its 4.5% holding in Hellenic Bank, fund manager Senvest Group has increased its participation in the island’s largest lender, Bank of Cyprus. According to an announcement sent by Senvest to the Irish regulatory authorities, the investment fund has increased its share in BoC’s capital from 7.79% to 8.06%. The latest
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Archbishop Georgios has officially assumed his duties following Sunday’s enthronement ceremony at Nicosia’s Cathedral of Apostle Barnabas. The Paphos Bishop is now the leader of the Cyprus Orthodox Church following the death of his predecessor Archbishop Chrysostomos II in November. He said in his enthronement speech: “For Cyprus and its Archbishop, the cross remains a cross
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As the government stumbles along, to avoid making any hard, unpopular decisions, it’s trying to garner maximum credit for any modicum of success achieved in the past decade. It goes without saying that when writing the self-penned biography of its time in power, the Anastasiades administration will deliberately omit the scandals it swept under the
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After years of disagreements, heated debates and name-calling, the national minimum wage finally came into being on 1 January, ensuring an additional 40,000 workers in the private sector take home decent pay and are not abused by greedy employers. According to the new regulations enshrined into law, the minimum salary for the first six months
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Cyprus is heading into an uncertain 2023, but economists argue the economy can remain resilient, as it has proven in the past. In comments to the Financial Mirror, economist Marios Soupashis said that while high inflation, high interest rates and global risks will persist, Cyprus has its challenges to face, such as the Presidential Elections
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Cypriots strolled into 2022 hoping to see better days following two years of COVID restrictions; instead, they braved hiking inflation powered by the Ukraine war eating away at their purchasing power. Also, proving that little has changed, the island was shaken by more scandals and what would appear as a cover-up of a murder case.
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