The Olympia Group, an investment group with interests in a number of industries, announced this week it had increased its stake in e-commerce retailer and omnichannel retailer Public-MediaMarkt, operating in Greece and Cyprus, to 98% after a €50 million outlay.

As of Monday, people will be able to choose the vaccine of their choice among the four available anti-Covid jabs at walk-in vaccination centres, the health ministry announced on Saturday.

Royal Caribbean on Monday announced its return to Cyprus in 2022 and 2023, with Rhapsody of the Seas.

Although Cyprus, research and development investment has risen during the last decade, data shows that the R&D expenditure as a percentage of GDP is the lowest in the EU.

Real Estate Funds represent over 10% of all Funds registered in Cyprus, as per the latest statistics provided by Cyprus Securities and Exchange Comission. Indirect investment in real estate (hereafter referred to as ‘RE’) through Funds is popular, as it allows investors to access large projects and provides investors with a level of professional management to which they may not have access, should they attempt to replicate the strategy themselves.

EY Cyprus is pleased to share the latest Cyprus Tax Facts guide – in English – which provides a straight-forward, holistic summary of the Cyprus tax system, based on current legislation and tax practices, in relation to the fiscal year 2022.

Cyprus’ efforts to keep its air connectivity alive through the pandemic have worked after the island registered the third lowest decrease in passenger flights in the European Union in December.

Cyprus has made some progress in the fight against money laundering and terrorist financing by partially complying with recommendations set out by the Financial Action Task Force (FATF), according to a report by the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism - MONEYVAL.

The Central Bank of Cyprus (CBC) announced on Wednesday that the country’s Foreign Direct Investment stock remained positive in 2020, despite registering a decrease over the FDI stock in 2019.

Cyprus will tap the international markets on Thursday by issuing a €1 billion ten-year European Medium-Term Note (EMTN) to cover fiscal needs arising from the pandemic.