The Ministry of Finance has long been committed to introducing a financial instrument to support startups and innovative companies with equity financing, Finance Minister Constantinos Petrides has said, adding the agreement with the European Investment Fund to manage this new financial instrument is of paramount importance and a significant milestone in the government's efforts to enhance alternative financing.

Real estate stakeholders are concerned over the immediate prospects of the construction sector and warn against being duped by an upward trend in property sales, as the war in Ukraine will harm the industry.

Olympion beach in Limassol is in for an upgrade so as to ensure a clean and tidy environment for its many visitors, Limassol municipality said on Thursday.

Newly-appointed Transparency Commissioner Charis Poyadjis said the big bet is to reverse the atmosphere of mistrust prevailing in the society vis-à-vis the institutions.

Cyprus Chamber of Commerce and Industry (Keve) president Christodoulos Angastiniotis earlier this week said that the local businesses are now focused on enduring the current economic crisis.

The University of Cyprus downgraded its projection for economic GDP growth this year to 2.6% due to the Russian invasion of Ukraine, warning of potential deterioration in asset quality in the banking system due to rising inflation.

The government is considering giving a much-needed extension to measures curbing higher energy prices in Cyprus, Philenews reports.

Cabinet on Wednesday approved the purchase of five homes that will serve as assisted living residences for people with disabilities.

Children in Cyprus are among the most at risk of obesity in the European Union, according to a World Health Organisation (WHO) report published on Wednesday.

The construction industry is suffering as the price hike of raw materials continues, with developers crushed under higher costs as they are deprived of Russian money.