Incentives for the purchase of electric vehicles, including taxis and buses, and transportation means with lower emissions in combination with a car scrappage scheme were announced on Thursday by Transport Minister Yiannis Karousos.

China Petroleum Pipeline Engineering (CPP), building the €300 million Vassiliko LNG terminal, pledges to bring natural gas to Cyprus in June 2023 after some delays in the schedule due to COVID-19.

The Tax Department of the Republic of Cyprus has announced an extension to the imposition of administrative fines for overdue submission of information subject to EU Directive 2018/822 (“known as DAC6”).

The Renewable Energy Sources Fund will turn another deficit next year, and will again need to tap into its reserves to stay afloat.

A total of 61 cheese dairies have so far applied to participate in the certification and controls scheme for halloumi cheese, Cyprus Agriculture, Rural Development and Environment Minister, Costas Kadis said on Tuesday, adding that 42 of them have received preliminary approval.

Authorities have said they will no longer tolerate businesses imposing hidden excess charges on customers who wish to pay with a credit card.

The government in the Republic of Cyprus has approved more pandemic measures ahead of the holiday season, including state subsidies for self tests for vaccinated individuals, while those who have not received the jab will need to pay if they want to want to screen for the bug in the comfort of their own home.

EY and Microsoft announced the expansion of their strategic relationship to further align EY business ingenuity with Microsoft’s cloud technologies to create long-term value for their respective clients with an incremental US$15b growth opportunity over the next five years. The increased collaboration will focus on launching new solutions and platforms that help organizations address business and societal challenges at scale through digital transformation.

Minister of Interior Nicos Nouris has invited the international investment and business community to choose Cyprus, stating that the country’s government has “a clear vision on how to develop business”, with the aim to establish Cyprus “as a prosperous, reliable and competitive destination, keen on providing the conditions under which any investor can thrive."

Social protection benefits expenditure as a percentage of GDP between 2019 and 2020 has increased in almost all EU Member States, with the largest jump recorded in Cyprus and estimated at +2.2%.