The government has granted the Aphrodite gas field operator, US giant Chevron, another week extension to agree on the untapped reservoir’s development plan. Israel’s NewMed Energy, a partner in the Aphrodite consortium,
The government is optimistic about a positive conclusion in its lengthy negotiations with Chevron in commercialising untapped Aphrodite natural gas. There has been speculation that negotiations with Chevron were headed for disaster
Cyprus’ general government gross debt-to-GDP ratio increased by 2.2 percentage points (pp) to 85.3% in the second quarter of 2023, compared with the previous three months, the largest quarterly increase by an
The government unveiled a comprehensive €196 mln package of measures, including fuel subsidies, to alleviate the financial burdens of the rising cost of living. The 17-measure package, including the reinstatement of an
Deputy Government Spokesperson Doxa Komodromou has resigned following a row over her alleged rule-breaking in receiving expenses she wasn’t entitled to. On Monday, a brief statement by the Presidency said that President
Finance Minister Makis Keravnos said the government is taking measures against rising prices and, when necessary, will intervene. He said Cyprus is obliged to start repaying a loan of €6.5 bln, which must be
Nicosia and Chevron International reaffirmed that developing the Aphrodite offshore natural gas field in Cyprus’ Exclusive Economic Zone (EEZ) is of “strategic importance”. The issue was discussed during a meeting that President Nikos Christodoulides
Auditor General Odysseas Michaelides has called for reimbursement of overtime paid to deputy government spokesperson Doxa Komodromou, which has turned into a scandal involving the University of Cyprus and the Presidential Palace.
The government has come under pressure from stakeholders following news that a state-sponsored affordable housing project in Limassol has gone south due to a lack of funds. The Cyprus Scientific and Technical
President Nikos Christodoulides assured that his government supports the business community, providing tangible support to efforts for development and progress. He spoke on Tuesday evening during the inauguration of the new production
