It would appear that the misery of others helps Cyprus real estate from time to time. Those of a more “mature” age will remember the interest from Lebanon (as a result of the civil war there) that saw property prices and rents rocket, followed by the breakup of Yugoslavia, the first wave of Russian instability
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Economists and authorities in Cyprus are increasingly concerned an inflation surge hitting the island will become a tidal wave, lasting for some years as a “de-globalisation” process is set into motion. Government officials had made a U-turn from their stance some weeks back, when the effects of inflation were starting to be felt, parroting the
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Europe was already facing an energy crisis before Russia invaded Ukraine, but Moscow’s move has forced a rethink of energy policies at the EU and country levels. The European Union, which imported 155 bcm of natural gas from Russia in 2021, now aims to cut its dependence on Russian gas by two-thirds this year and cease all
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Lebanon stands ready for energy cooperation with neighbouring Cyprus once Beirut discovers natural gas, Lebanese Foreign Minister Αbdallah Βou Habib said Friday. The minister was in Nicosia for talks with Cypriot counterpart Ioannis Kasoulides on the situation in Lebanon and the challenges they face. “Once we find gas, we are ready to cooperate together, we
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Members of parliament heard an Interior Ministry representative that the Asylum Service in Cyprus had received some 5,120 applications in the first three months of the year. The Deputy Director of the Asylum Service, Yiannis Soteriades told the members of the House Interior Committee that by comparison, in 2021 a total of 12,600 applications by
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Cyprus cruising pioneer Costakis Loizou, who transformed a small family travel agency into a major hotels and tourism company, received the InBusiness Lifetime Achievement Award for his 50 years’ contribution to the industry. Presenting the award, President Nicos Anastasiades described Loizou as “a visionary, an active businessman, with ethics and determination who has managed to
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No end to hiking inflation is in sight as a slew of essentials items, including cooking oils, meat and vegetables, saw their prices skyrocket in recent days. According to the latest monthly survey of the consumer protection service, the price of tomatoes increased by 60% (€2.89 per kilo), while the cost of meat has also
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The government aims to reduce public debt to 94% of GDP in 2022, but this target could be affected by the economic crisis, and the war in Ukraine, said Finance Minister Constantinos Petrides. He said public debt in 2019 had dropped to 91% of GDP but added that in 2020 because the government took out
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Despite daily COVID-19 cases remaining high, Cyprus epidemiological indicators have recorded a significant improvement in the past fortnight, according to Friday’s report issued by the Health Ministry. According to the surveillance report, in the past 14 days (March 29 to April 11), 40,795 cases were identified, down from 59,800 cases in the previous period of
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Eleven unaccompanied migrant children have gone missing since arriving in Cyprus over the last three years, four of them in 2022, said the Deputy Ministry of Social Welfare. In a note to the House, the junior ministry said that 11 migrant children arriving in Cyprus have gone missing between 2019 and April. Police received missing
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