Larnaca will soon have another destination to visit, as construction on a museum dedicated to the town’s history and floating hospitality venues get off the ground at the marina. As announced, Kition Ocean Holdings – the Cypriot-Israeli consortium awarded the €1.2 bln redevelopment project of the marina and port – work on the pier is
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By Craig Erlam A relatively muted start to the week amid lighter expected trade due to the US bank holiday, with Europe and much of Asia posting small gains. It’s been a frantic start to the year, so, investors may be capitalising on the opportunity to catch their breath. They won’t have long given the
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Despite the property market generating €6 billion in sales in 2022, real estate agents expect a challenging 2023. Releasing its quarterly “Real Estate Market Bulletin”, the Cyprus Real Estate Registration Council said that the value of real estate sold last year was €5.85 bln. The Council appeared satisfied, noting that “against the challenges, the real
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The political climate between the two sides in divided Cyprus has deteriorated, says UN Secretary General Antonio Guterres in his mission of good offices report for June to December. “In the absence of constructive or harmonised messages from the two leaders that could resonate with both communities, the climate between the two sides and vis-à-vis
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Public transport in Limassol is going green, with 35 fully electric buses on the city’s roads in February, pushing the older diesel models into retirement. The 35 six-metre-long electric busses will be the flagship of the new fleet of the Limassol Transport Company (EMEL), which will introduce 177 eco-friendly buses replacing the older models currently
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As Cyprus counts the cost of the extreme weather over the weekend, the Met Office warned the storm has not passed with more heavy rain expected. Following extreme rainfall mainly affecting the districts of Larnaca and Famagusta, the meteorological services issued a yellow warning for heavy rain and local thunderstorms, with intensity ranging between 55
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The Cyprus Economy and Competitiveness Council (Ecompet) outlined medium-term and long-term proposals to tackle inflation via innovation investment. The Council said that due to the seriousness of inflation, it established a committee to propose measures and policy directives to tackle inflation. “Inflation is one of the most significant challenges facing all EU member-states, including Cyprus,”
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The United Nations Security Council is expected to adopt a resolution at the end of January extending the mandate of the peacekeeping force in Cyprus (UNFICYP) for another six months, until July 31. Procedures are already underway for its approval, said Foreign Ministry spokesperson Demetris Demetriou. He said the Greek Cypriot side is not satisfied
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Due to a possible arrival of the Kraken COVID variant, infectious diseases expert Dr Maria Koliou told CNA there would not be a rapid increase in the epidemic curve in Cyprus. She argued the Cypriot population already has immunity to Omicron 2 and five other variants, which are the most prevalent in the community and are related
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The Bitcoin price rally demonstrates that cryptocurrency investors are pricing in more favourable market conditions in 2023 as inflation looks set to peak, according to the CEO of a leading independent financial advisory and fintech. Bitcoin reached above $21,095 on January 13 for the first time since November 8, 2022, before falling back slightly, according
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