Europe’s statistical service announced that recent years have seen a steady decline in hard coal consumption across the EU, but figures for Cyprus show that in 2019, hard coal consumption was much higher than the year before, and even higher than 2010 levels.

EY Cyprus and the Cyprus University of Technology have signed a protocol of cooperation, on Monday, July 6, in Limassol, in order to provide and exchange know-how in matters of common interest. The protocol was co-signed by Charalambos Constantinou, Partner and Head of Consulting of EY Cyprus and Professor Panagiotis Zafeiris, Rector of the Cyprus University of Technology.

Cyprus recently announced its intention to tap two existing bonds maturing in 2024 and 2040 for a minimum amount of €500 million in a bid to replace more expensive debt (expiring by end-2020) with cheaper debt.

Cyprus recorded the third-highest population increase in the EU in 2019, a new report by Eurostat published on Friday indicates.

Kiosks and newsagents saw a 103% increase in credit card transactions, while travel related business recorded a 91% decrease in the quarter ending June 30, reflecting changing consumer habits imposed by the coronavirus outbreak.

Cyprus has been forced to drop its car scrappage scheme to get older vehicles off the road due to the economic impact of coronavirus on the government budget.

The infrastructure for the introduction of liquefied natural gas for electricity generation places Cyprus on track for a new energy era, opening new strong prospects for the island’s economy, President of the Republic Nicos Anastasiades said on Thursday.

The 2020 edition of Chambers High Net Worth Guide (‘the Guide’) was released 9 July 2020. On viewing it, we are delighted to note that it ranked our firm and, on an individual level for the third successive year, our Managing Partner, in its top tier of professional advisers in Cyprus.  The firm’s private client team offers a dedicated service for high net worth individuals covering issues such as the establishment and management of trusts, advice on asset holding structures, general wealth management and, general support and advice to family offices. 

In the recent decision of the District Court of Nicosia in Smagin ν. Kalken Holdings Limited a.o Application Numb: 601/2017, the Court examined the criteria for Recognition and Enforcement of an Arbitral Award.

Health Minister Constantinos Ioannou called on the Cyprus public to stay vigilant and to continue taking personal protection measures as coronavirus is still among us, warning that we will remain unprotected until a vaccine is found.