A €374 million floating storage and regasification unit jointly financed by the European Bank for Reconstruction and Development, the European Investment Bank and the European Union will help Cyprus benefit from cleaner air and reduced energy costs thanks to the introduction of natural gas to the country.

Perfectly located at the water’s edge in an exclusive seafront stretch, between the historical Paphos Harbour and the blue flag awarded Coral Bay Beach, Armonia Beach Villas, is another luxurious beachfront development by renowned property developers, Leptos Estates.

The first phase of the Nicosia orbital motorway, part of the Cyprus Transport Ministry’s plan to decongest traffic in the gridlocked capital, is to be completed by March 2023 at a cost of about €74 million.

The government is expected to announce additional measures in response to fears over a second wave of the coronavirus pandemic, after known cases on Thursday, most of them in Limassol, remained in double digits for a second consecutive day.

Cyprus is moving to cut red tape in order to fast-track the issuance of planning and building permits, slashing the waiting time down to just 2-3 weeks.

Ryanair announced on Wednesday a new winter route from Paphos to Vienna, with a twice weekly service, as part of Ryanair’s Cyprus winter 2020 schedule.

The Council of Ministers on Wednesday approved the installation of thousands of new bus stops and bus shelters, a project estimated at €35 million.

Another mass testing programme for Covid-19 was announced in Cyprus in areas where many people gather together such as shopping centres and supermarkets, as well as 5,000 tests in the Limassol area, after a spike in cases was recorded there.

Economic sentiment in Cyprus improved for the third month in a row in July, albeit at a slower pace after the March lockdown due to the Covid19 pandemic and subsequent deceleration of the entire economy.

The health ministry on Tuesday announced the revised lists of countries from which Cyprus accepts passengers which will be in effect from August 1.