The soaring price of building materials has sent the cost of construction to skyrocket to new highs and Cyprus’ relevant sector is ringing alarm bells, according to Philenews.

The Cypriot economy continued its recovery in December, carrying on with the trend of the two previous months, according to a report by the University of Cyprus Economic Research Centre released on Tuesday.

With a budget of €1.2 billion, the Larnaca marina and port development is the largest infrastructure investment in Cyprus at present, Transport Minister Yiannis Karousos said on Wednesday.

Agros was chosen among 170 communities from 75 countries to be included in the upgrading program of the network of the best tourist villages by the World Tourism Organization.

The cabinet, under President of the Republic Nicos Anastasiades, has decided on Wednesday to shorten the recommended time of isolation for persons who are contacts of people with COVID-19 to 10 days.

Cyprus successfully issued an oversubscribed ten-year Eurobond for €1 billion at an interest rate of one percent to beef up its liquidity in the face of a budget deficit caused by the coronavirus pandemic.

The commission’s market supervision area of activities has enjoyed significant growth, Cyprus Securities and Exchange Commission (CySEC) chairman George Theocharides said on Monday following a meeting with the house finance committee.

The deputy tourism ministry has spent the last 18 months of the pandemic ‘repurposing’ the industry, minister Savvas Perdios said on Monday.

The Recovery and Resilience Plan will facilitate the path towards improved productivity and significantly affect GDP growth, the Economics Research Centre of the University of Cyprus (CypERC) has said in a bulletin that examines the multifactor productivity growth (TFP growth) of Cyprus and assesses the evolution of the production inputs, as well as their growth-enhancing performance for the period between 1996 and 2020.

Key facts and figures about the country, geography, people, government and economy plus 2022 public holidays.