The Cyprus Council of Ministers approved a decree during Tuesday’s session, which imposes a zero VAT rate on the delivery of certain products until October 31. These include bread, milk, eggs, baby food, baby diapers, feminine hygiene products, and adult diapers. The purpose of this temporary measure is to ease the burden on households coping […]
A revised set of criteria on the expedited process for granting immigration permits to third-country nationals who invest in Cyprus come into effect on Tuesday, the island’s Interior Ministry has announced.
Revenue from Cyprus’ ship management industry continued its upward trend in the second half (H2) of 2022, reaching 648 million euros, up 25.6% year-on-year.
Nonperforming loans in Cyprus rose by 12.8 million euros in January 2023 compared with December 2022, amounting to €2.32 billion or 9.5% of total loans.
Based on the Cypriot government’s timeline, the introduction of e-kalathi, a new digital platform for monitoring retail product prices, is expected to take place around early 2024. The bill has been given the green light by the Council of Ministers and will soon be presented to the Parliament.
Cyprus said on Tuesday it had activated a humanitarian rescue mechanism for the evacuation of third-country civilians through the island from Sudan.
The issue of storing electricity from renewable energy sources in Cyprus has become a problem due to extensive production rejections of both large and small photovoltaic parks by the Transmission and Distribution Operators on Easter Sunday and Monday. This has resulted in economic losses as excess energy cannot be stored and is rejected.
Encrypted folders with stolen information from Open University of Cyprus may be available on the dark web, where data brokers and identity thieves can now buy access to private information of students and staff after the institution failed to pay ransom.
Cypriot individuals and entities included in British and American sanctions lists will see their assets in the Cypriot banking system frozen and will not be able to carry out any banking transactions in Cyprus, Marios Skandalis, chief compliance officer at the Bank of Cyprus, the island’s largest lender, has said.
The Bank of Cyprus is proceeding with a dividend payment after 12 years, after receiving the green light from the European Central Bank.
