Sanctions unit in place by end of year
By year’s end Cyprus should have a national financial sanctions implementation unit, bringing the island up to speed with best practices in combating illicit finance, the finance ministry said ...
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EAC may hike bills by 25 per cent
The Electricity Authority of Cyprus (EAC) may end up hiking its rates by up to 25 per cent should it win an ongoing case in court, MPs heard on Monday.
Andreas ...
Government and LNG terminal contractor lock swords
The government on Monday signaled it may have to take “painful decisions” regarding the liquefied natural gas (LNG) terminal project in Vasiliko, as the contractor itself blamed the Cypriot side ...
Treasury resumes pensions for serving state officials
The Treasury said Thursday it will resume paying the pensions of currently serving state officials, following legal advice it received from the attorney-general’s office.
In a statement, Accountant-General Andreas ...
Blame game in full swing over LNG terminal dispute
The Chinese-led consortium with the contract to build a liquefied natural gas (LNG) terminal at Vasiliko is claiming €200 million from Cyprus in arbitration proceedings, MPs heard on Thursday, as the ...
Attorney-general appeals court ruling on Laiki Bank depositors’ compensation
The attorney-general’s office said Thursday it has appealed a ruling by Limassol district court that found in favour of depositors with now-defunct Laiki (Popular) Bank whose uninsured savings got ...
Dhekelia residents threaten to shut down power station
Residents of areas near the Dhekelia power plant threatened on Tuesday to “shut down” the station, frustrated with what they say are broken promises that the facility would cease to ...
Turkish Cypriot property being ‘misused in Polis’
Lawmakers on Tuesday heard about shady practices in the area of Polis, where Turkish Cypriot land is reportedly being used for growing crops in ‘under the table’ transactions between lessees ...
Union says plan will see plunder of the EAC
One of the trade unions representing workers at the Electricity Authority of Cyprus (EAC) alleged on Tuesday there are plans afoot to privatise and “plunder” the organisation, to the detriment ...
Opening up of energy market pushed back – again
The much-touted opening up of the electricity market has been pushed back to the summer of 2025, MPs heard on Monday.
They got the news from Stavros Stavrinos, executive director at ...
EAC denies investing €43m in power plant upgrade
The Electricity Authority of Cyprus (EAC) on Monday denied it has already decided to invest €43 million into upgrading its power plant at Dhekelia, following allegations by an association of businesses.
...
Serious, systemic decay within Tepak – auditor-general
The auditor-general and the rector of the state-run Technical University of Cyprus (Tepak) traded more barbs on Monday, the former describing the university as a den of “decay”.
Earlier in ...
Police in need of a deep restructuring
The batch of measures announced last week by the police to tackle organised crime and football violence either don’t go far enough or will fall flat, an ex-cop tells ...
Parliament criminalises traffic sign vandalism
Parliament on Thursday passed a law making it a criminal offence to damage, deface or in any way alter a traffic sign.
The legislation, amending the Road Safety Law, provides ...
Bill to halt auctions for ‘mortgage to rent’ applicants passed
By a unanimous vote the House on Thursday passed legislation that provides for halting the auctioning off of properties where the mortgage debtor has applied for the ‘Mortgage to Rent’ ...
Shady insurance policies probed by MPs
Insurance companies have got into the business of trading in car parts, adversely affecting competition among auto repair shops, while also not paying VAT on insurance payouts for accidents, MPs ...
Photovoltaics for all set for green light
The launch of the ‘photovoltaics for all’ scheme will likely get the green light from the cabinet next week, Energy Minister George Papanastasiou said on Tuesday.
Speaking on a television ...
Hints Cyprus might halt LNG terminal payments
Suggestion comes after damning Audit Office report on endless delays
The project team for the liquefied natural gas (LNG) terminal at Vasiliko has recommended that Cyprus halt further payments to ...
EAC unions to vote on strike action
Unions representing workers at the Electricity Authority of Cyprus (EAC) said on Monday their members will hold a vote at the end of the month on possible industrial action, including ...
EU green lights reduced VAT on first homes – minister
The European Commission has given the nod to the levying of the reduced 5 per cent VAT on first homes in Cyprus, the finance minister revealed on Monday.
Makis Keravnos made ...
Russia bars entry to Cypriot officials over deportation
The Russian Federation on Thursday announced that it is barring entry into its territory to Cypriot officials connected with the deportation from the island of a Russian national last October ...
Plenum approves 2024 budgets for semi-governmental organisations
The House plenum on Thursday gave the nod to the 2024 budgets of six semi-governmental organisations, but ‘crossed’ those funds related to procuring services from the private sector.
‘Crossing’ a spending ...
Bill to increase fines for parking in disabled spaces
The fine for illegally parking in a space reserved for the disabled will go to €500, up from €300 now, under a bill discussed in parliament on Thursday.
The legislative proposal belongs ...
Attorney-client privilege a ‘fundamental right’
Attorney-client privilege is crucial to jurisprudence, and any restrictions on it must take into account a person’s right to a fair trial and the principle of proportionality, new Justice ...