Cypriot parliament

Following a thorough discussion, the Cypriot Cabinet has given the green light for the ambitious Cyprus-Greece electrical interconnection project.

Energy Minister Giorgos Papadopoulos made the announcement from the Presidential Palace.

The Cypriot Parliament has passed a law enabling beneficiaries to apply for a 5% reduced VAT rate within a year of acquiring a residence.

In 2022, there was a 27% increase in Airbnb income in the occupied territories, with the annual revenue per accommodation unit reaching 24,000 euros. Speaking before the Cypriot Parliament's Trade Committee, Konstantinos Karakontis, the president of the Association of Self-catering Accommodation, also mentioned a projected 50% increase for 2023.

The Cypriot Parliament has passed legislation aimed at providing state guarantees to Hellenic Bank in its acquisition of Cyprus Cooperative Bank's healthy portfolio.

United Nations Special Adviser Espen Barth Eide is pushing Turkey’s side in the collapsed unity talks to reunify Cyprus, the leader of the island’s centrist DIKO party said.

The leader of the Turkish-Cypriot community stated that he will sit again on the negotiating table only when the Cypriot Parliament withdraws its decision on the “Unification Referendum”.

European Commissioner Jean-Claude Juncker admitted that the ‘hair cuts’ on Cypriot banking deposits by the Eurogroup in 2013 were a wrong move addressing the Cypriot Parliament Friday. He added, however, that Cyprus has managed to bounce back underlining the help the ‘Juncker’ package will offer the country to regain economic growth.

The Cypriot Parliament has adopted a government budget that envisions an increase in spending of only 0.6 percent.

The budget forecasts state revenue of 5.928 billion euros compared with 5.952 billion euros in 2014, with spending of 6.660 billion euros.

The House of Representatives approved the tight spending plan late Tuesday by a vote of 29-26.

The Cypriot parliament will vote Saturday on a controversial bill to streamline bank foreclosures of bad debts, Finance Committee chairman Nicolas Papadopoulos said, amid fears some people could lose their homes.