As port sanctions were implemented on Russian vessels in the EU, Cyprus offers some hope of normalcy to Ukrainian and Russian seafarers who might have seen their bank accounts frozen.

The EU published a new Directive this month “to promote the use of renewable energy sources by means of reduced VAT rates.”

A bill regulating electric scooters has caused a stir in parliament, as it dictates; they are not driven on roads or pavements, with some MPs claiming the legislation essentially bans their use.

Wedding tourism in Ayia Napa, which has been affected by the coronavirus pandemic for the last two years, is recovering, Maria Ttofini-Tsantila, head of the wedding department of the Ayia Napa municipality, has said.

The revision of GDP figures at current prices for 2021, brought Cyprus’ GDP to an all-time high of €23.43 billion during the previous year.

In April 2022, economic sentiment in Cyprus improved as the Economic Sentiment Indicator (ESI-CypERC) increased by 2.8 points compared with March 2022, as shown by data published by the Economics Research Centre of the University of Cyprus (CypERC) and RAI Consultants Ltd.

A record number of hotels have joined the state-sponsored staycation scheme starting in May to boost domestic tourism as coronavirus rules are lifted.

Cyprus’ new nominated member for the European Court of Auditors Lefteris Christoforou’s statement before the Committee on Budgetary Control committee takes place on Thursday.

Hellenic Bank will submit a restructuring plan to the labour ministry that will include up to 350 compulsory redundancies this year, its CEO Oliver Gatzke said on Thursday, a move likely to set it on a collision course with employees’ union Etyk.

Hellenic Bank on Thursday posted its financial results for the previous year, showing a loss of €11.7 million for 2021.