In an effort to make mortgages more accessible and affordable, Cypriot banks and the government are launching a new Interest Rate Subsidy Scheme for home loans. This initiative is set to provide significant relief to homebuyers, lightening the financial load of purchasing a property. According to the Bankers' Association, the scheme has been under development for the past three months in collaboration...
According to the Global Innovation Index 2024 released by the World Intellectual Property Organization, Cyprus has secured the 27th position out of 133 countries, improving its ranking by one spot this year. The Global Innovation Index evaluates over 80 indicators grouped into seven categories. The overall ranking is derived from two sub-indices: ‘innovation resources’ (which includes institutions,...
Cyprus is currently experiencing a substantial construction boom. According to data from the Cyprus Statistical Service released on Thursday, September 20, a record-breaking 1,528 building permits were issued by the island's municipalities and district administrations in June 2024 alone. These permits represent a total value of €781.6 million and cover a total area of 594.9 thousand square meters. The...
The strong and growing relationship between Cyprus and the United States was emphasized during a meeting in New York between US Deputy National Security Adviser Jonathan Finer and President Nikos Christodoulides. The meeting took place on the sidelines of the UN General Assembly, with both sides acknowledging the significant geostrategic role that Cyprus plays in the Eastern Mediterranean and the Middle...
According to data released by the Statistical Service on Wednesday, government employment in Cyprus saw notable growth in the first eight months of 2024. From January to August, the average total government employment reached 54,227 individuals, reflecting an increase of 3.9% or 2,019 employees compared to the same period in 2023. As of August 2024, the total number of government employees stood at...
