The Transport Ministry and Limassol bus company EMEL have signed a €129 million public transport agreement providing for 177 new buses to operate in the town, 35 of which will be electric.

The 60th anniversary of the Limassol Chamber of Commerce and Industry this year is marked by constant price increases, rising inflation, the pandemic’s consequences and war in Ukraine.

Hermes Airports on Friday said that it welcomes the decision by the EU Transport, Telecommunications and Energy Council and the Environment Council to adopt the proposals by Transport Minister Yiannis Karousos, for the support of air connectivity within the framework of the Fit-for-55 package of the EU.

The urban planning permit for the construction of the American University of Beirut (AUB) in Paphos has been issued, Mayor Phedonas Phedonos has said.

The Open University of Cyprus and two of its professors have been ranked among the top universities and scientists by a leading academic research portal.

Harmonised inflation rose to 9.1% in Cyprus in June compared with June last year, marking a new historic record, pushed by the soaring prices in energy.

The Bank of Cyprus is offering a Voluntary Retirement Plan to 500 - 600 employees of its employees in the hopes that it can reduce its number of employees in order to maintain profitability. If employees do not accept the plan, however, the bank may opt to make them redundant.

MPs are undecided on whether to pass a European Union directive reducing the size of homes entitled to lower 5% VAT or face hefty financial penalties, while the construction industry wants authorities to ignore it.

Cyprus’ drive to attract high-tech companies, combined with increased interest from firms to relocate, moving from geopolitically unstable regions, is expected to boost demand for real estate.

The percentage of flights affected in Cyprus by travel delays at European airports is milder, but Tourism Minister Savvas Perdios advised Cypriots to avoid travelling abroad during the holiday peak of July-August.