The 2022  IFLR 1000 Financial and Corporate ratings for Cyprus have now been released and may be viewed here.  We are delighted to note that Elias Neocleous & Co LLC has once again received a ‘Tier 1” ranking. Additionally we are proud that five of our leading professionals have  been singled out for individual commendations for excellence in their performance. Elias Neocleous has been recognized as a ‘Market Leader’, Costas Stamatiou has been noted as a ‘Highly Regarded’ lawyer and Demetris Roti, Michael Pelosi and Dimitris Papoutsis have all been acknowledged as ‘Notable Practitioners’. Our congratulations go not only to them but also their departments for another year of outstanding performance.

Paphos will soon become a distinct option for retirement living, where personal five-star service will meet the warmth of its community. Unveiled at its first formal presentation earlier this month, the new luxury residential community, Cypress Park, is designed for older individuals to enjoy their lives in a stimulating, lively and engaging setting.

Transport Minister, Yiannis Karousos has expressed the government’s commitment and determination to develop remote areas through upgrades to the standard of living of rural populations, in order to prevent the abandonment of the countryside.

The Bank of Cyprus’ voluntary retirement plan, which recently received approval for the departure of 550 people at a cost of approximately €99 million, was described as credit positive in a report released this week by rating agency Moody’s.

Cyprus’ seasonally adjusted unemployment rate stood at 5.1% in June 2022, lower than the 6.6% in the Euro area and 6.0% in the EU, Eurostat data showed on Monday.

Drug abuse and addiction are high on the government’s list of priorities said Deputy Minister of Social Welfare Anastasia Anthousi, following Monday’s signing of a memorandum of cooperation between the ministry and the National Addictions Authority.

Transport Minister Yiannis Karousos inspected on Monday the three new pilot bus stops installed along Makarios Avenue, Nicosia as part of a wider infrastructure project.

Business and household debt in Cyprus reached €56.2 billion in the first quarter of 2022, according to data from the Central Bank of Cyprus.

Labour Minister Kyriakos Koushos held new talks with employers’ organisations on Friday as he seeks to bridge differences between social partners ahead of the introduction of a national minimum wage.

Hoteliers in the Famagusta district are satisfied with the number of tourists’ arrivals this summer, especially considering the difficult circumstances posed by the ongoing conflict in Ukraine.