During the presentation of the 2025 state budget to the House finance committee on Monday, Finance Minister Makis Keravnos highlighted several significant internal and external risks impacting the Cypriot economy. While the economic outlook remains positive, Keravnos emphasized that the level of uncertainty is still high, primarily due to global challenges such as the ongoing war in Ukraine and the...
The Cyprus Securities and Exchange Commission (CySEC) has announced that it will no longer accept applications for the registration of Crypto Asset Service Providers (CASPs). This decision aligns with the implementation of the new EU Regulation (EU) 2023/1114, governing Markets in Crypto-Assets (MiCAR), which will come into effect on December 30, 2024. In addition to the cessation of new applications...
At a recent summit, the European People's Party (EPP) issued a joint statement stressing the urgent need for an agreement focused on migration issues, particularly those affecting the Mediterranean region. The statement was adopted after a preparatory meeting held in Brussels, where EPP leaders and opposition representatives underscored the growing challenge posed by irregular migration. The EPP leaders...
Cyprus has transformed into a modern and highly efficient shipping hub, ranking as the largest shipping management center in Europe and among the top three globally, according to Deputy Shipping Minister Marina Hadjimanoli. She made these remarks during the inauguration of the fourth Thalassa festival in Limassol, alongside Greek Shipping Minister Christos Stylianides. The festival, designed to immerse...
The ongoing debate surrounding affordable housing in Cyprus reached a new peak this week as the government and the opposition party, Akel, exchanged barbs over recent findings from the Eurostat survey. While the government sought to highlight positive aspects, Akel focused on the alarming issues at hand. The truth lies somewhere in between; a housing problem exists, but its severity is up for...
At the Digital Agenda Cyprus Summit 2024, David Rowan, founding editor of WIRED UK, delivered an eye-opening presentation on how artificial intelligence (AI) and other emerging technologies will shape the future. Held annually in Nicosia, this summit draws together leaders from various industries, innovators, and policymakers to explore the latest tech trends. Rowan's talk stood out for its mix of optimism...
Cyprus welcomed 3.27 million tourists between January and September 2024, reflecting a 4.2% rise from the same period last year, according to data from the Statistical Service of Cyprus (Cystat). This milestone also surpasses pre-pandemic numbers, with a slight 0.23% increase compared to 2019, when the island recorded its highest-ever tourist arrivals. In September 2024 alone, 509,463 tourists visited...
In 2023, Cyprus emerged as one of the best countries in the European Union for low child poverty rates, ranking second behind Slovenia, according to Deputy Welfare Minister Marilena Evangelou. This achievement highlights the country’s commitment to improving the quality of life for families and children. Speaking at a conference in Nicosia organized by the National Anti-Poverty Network (EAPN-Cyprus),...
The plenum has approved a 1.5% salary increase for public-sector employees, following an agreement reached in July between trade unions and the government. The decision was made on Thursday, with a majority of votes supporting the government’s proposal. However, some opposition was noted. MPs from Disy, Elam, the Greens, Akel representative Irini Charalambidou, and Edek MP Costis Efstathiou voted...
The future of a tax on bank deposits, which has been in place since 2011, could be set for changes, though nothing has been finalized. As reported by Panayiotis Rougalas in Kathimerini Cyprus, the proposed adjustments involve redirecting the 0.15% tax that banks currently pay into the Republic’s Fixed Fund. The new focus would be on using this money for social policy initiatives and addressing...
