The joint venture of Kition Ocean Holdings has submitted its proposal for the development of the existing Larnaca port and marina.

Energy Minister Giorgos Lakkotrypis said recently that a cabinet decision the previous day granting licences to France’s Total and Italy’s Eni for block 7 of Cyprus’ exclusive economic zone (EEZ) would strengthen the consortium in several ways.

The University of Cyprus Economic Research Centre said recently that economic sentiment in Cyprus deteriorated in July as the Economic Sentiment Indicator (ESI-CypERC) decreased by 1.7 points compared with June 2019.

The cabinet recently licensed energy companies ENI and Total to explore block seven of Cyprus’ exclusive economic zone (EEZ) and approved a partnership between the two in five other blocks.

Insecurity caused by continuous changes in the foreclosures law are not only taking their toll on the country’s banks but have a broader effect on the local economy bringing down the local stock market heavily depended on banking stocks.

LED lights will likely replace all conventional street lights in Cyprus by 2020, way earlier than the global goal which is to have 90% of street lighting in the form of LED lamps, senior manager at the Electricity Authority (EAC) Yiangos Frangoulides has said.

Halloumi exports reached 29,000 tons in 2018, acting permanent secretary of Agriculture Ministry Andreas Louca has said.

Paphos tourism authorities are concerned because Cyprus is no longer one of the first choices as a destination for visitors.

Each year during a four-week period to select the winners. Luxury spas & restaurants have the opportunity to participate in the World Luxury Awards by entering categories that showcase their unique selling points, destinations and facilities.

The government has signed a memorandum of understanding with local financial institutions for the implementation of the Estia scheme, which comes into effect in September 2019, designed to bailout distressed homeowners holding toxic mortgages.