Annual house prices in the first quarter of 2021 fell 5.8% in Cyprus, while across the European Union, they rose by an average of 6.1%.

In late June, the Cyprus Securities Exchange Commission (the “CySEC”) issued its new directive on the prevention and suppression of money laundering activities, which specifically focuses on crypto-asset service providers (the “CASPs”) and their duty to register with the CySEC. According to the directive, the CySEC will maintain a public register which will record, inter alia, the name and legal form of such CASPs, the services they will be allowed to offer and their individual internet domains.

The Cabinet has approved a €6 million budget to compensate people who lost their homes and businesses in the island’s worst wildfire, including families of the four Egyptian workers who perished.

The European Commission has raised its forecast for Cyprus’ economic growth in 2021 to 4.3% from 3.8% in its previous forecast.

As of Friday, a Safepass presentation becomes mandatory in almost all hospitality venues and other gathering places following a government decree aiming to curb the spread of coronavirus in Cyprus.

Building permits issued in Cyprus jumped 46,7% annually in the four months from January – April, reflecting increased economic activity in the construction sector as Covid containment measures were eased.

“Investment in Cyprus tourism will be socially immersive – this means that it will benefit the whole island,” Cyprus Deputy Minister for Tourism Savas Perdios told the Invest Cyprus Tourism and Hospitality International Investment Summit.

Cyprus sees the Eastern Mediterranean gas findings as a means for sustainable growth and a vital tool in the transition towards clean energy, the Minister for Energy, Commerce and Industry Natasa Pilides said at this year’s East Mediterranean Gas Forum’s ministerial meeting.

European Commission President Ursula von der Leyen flies to Cyprus Wednesday on a two day visit to deliver notes on the government’s recovery and resilience plan submitted two months ago.

While the effects of the catastrophic wildfire in the mountainous regions of Limassol and Larnaca are still being assessed, with the tragic loss of life and damage to private property and natural resources, EY Cyprus expresses its sincere condolences to the families of the victims and its deepest sympathy to all those affected.