A new era beckons for Larnaca as construction of the €1.2 billion redevelopment of the town’s marina and port is undertaken by Cypriot-Israeli private investors.

The rise in daily Covid-19 infections and heightened uncertainty over the impact on the real economy led Cyprus banks to tighten the lending criteria for corporate loans in the fourth quarter of 2021.

The President of the Republic, Nicos Anastasiades stressed on Monday the important steps that have been taken in the last two years within the framework of the Government`s strategic planning in the energy sector.

Economic growth in Cyprus will slow sharply before recovering, due to the shock associated with the war in Ukraine, the International Monetary Fund has said, adding that the key near-term challenge “is to calibrate a policy response to the economic fallout from the war in Ukraine.”

Following the recent unfortunate events, new sanctions and restrictive measures have been imposed against a number of Russian financial institutions, entities and individuals. This is a fast-changing and irregular situation, and the regulations imposing restrictive measures are continuously revised and updated. Regulators in Cyprus have issued announcements and circulars to Regulated Entities in relation to their obligations to abide by the applicable restrictive measures and implement and maintain a sanctions policy.

On 24 March 2022 the House of Representatives (Parliament) of the Republic of Cyprus has approved an extension to the deadline for the electronic submission of the Corporate Income Tax Return (TD4) and the Personal Income Tax Return (TD1A) for individuals who prepare audited financial statements (FS) for the year 2020.

Significant upgrade to Cyprus’ telecommunications and the country’s place in the international digital environment

Increased volatility rising out of the evolving COVID-19 pandemic has led to a reshuffling of priorities for the global technology industry. Emerging as the top opportunity for the year ahead in this landscape (up from fourth position last year) is the imperative to attract and retain a motivated workforce. This is according to the annual EY report, Top 10 opportunities for technology companies in 2022, which ranks the biggest industry success drivers based on EY analysis.

Education Minister Prodromos Prodromou highlighted the importance of digital skills on Monday during his visit to the digitally supported learning environment at the pedagogical institute.

The visit to Cyprus this week by the president of the European Central Bank (ECB) Christine Lagarde comes at “a particularly important time” for the European Union and the Eurozone, the central bank said on Monday.