Stelios Americanos & Co LLC advised the Israeli group Global Knafaim in a $5 million transaction pursuant to which the later acquired a 49,9% in the share capital of TUS AIRWAYS LTD, a Cypriot airline headquartered in Larnaca. Existing shareholder, Kenneth Woolley also invested an additional $4 million increasing the amount of the total transaction to $9 million.

EY has announced that it has moved to a hybrid working model, in line with its long-standing culture of flexible working, which had been in place for many years prior to the pandemic.

Cyprus Investment Funds Association (CIFA) and Invest Cyprus’ seventh iteration of the International Funds Summit drew international attention to the island’s progress and potential as a fund management and investment destination.

The subsided holidays scheme for the vaccinated and those who have recovered from Covid will be reintroduced in December until March, the deputy ministry of tourism announced on Thursday.

Paphos regional board of tourism (ETAP) and local hoteliers were in London this week to establish contacts at the World Tourism Market (WTM), which opened on Monday.

The checks for SafePass in Cyprus will be conducted only via CovScan Cyprus application from Monday, November 8, the Cabinet decided.

The defence ministries of Cyprus and Israel signed on Thursday a bilateral agreement to install a €27.5 million surveillance system monitoring activity across the island’s 180-km dividing line, officials said.

Cabinet Ministers announced the reduction of VAT charged to electricity bills of vulnerable households.

The House of Representatives on Thursday passed a law extending the duration of maternity leave for mothers with two children or more.

The government paid more than €21 million in the past 10 months for the services of private mobile units offering rapid tests free of charge to members of the public on behalf of the health ministry, according to data submitted to the House watchdog committee on Thursday.