In Cyprus, officials intercepted a van carrying 4,000 liters of smuggled fuel, leading to the arrest of the driver and highlighting ongoing challenges in combating illegal trade. This crackdown is part of increased surveillance efforts to protect the local economy and maintain border security.
Vera Tukolukova made history for Cyprus by winning a bronze medal at the Rhythmic Gymnastics World Cup in Athens, a first for a Cypriot gymnast on a World Cup podium. Her exceptional ribbon routine and dedication earned her a spot in the Paris Olympics, showcasing Cyprus’s rising presence in the gymnastics world.
The banking trends in Cyprus have taken a positive turn in February 2024, revealing a €65.4 million increase in deposits and a significant €348.9 million rise in loans. These figures point towards a potential return to financial stability and growth in the local economy, with signs of increased consumer confidence and corporate borrowing for investment or expansion.
Spring Serenades at The Shoe Factory in Nicosia promises a musical fusion of cultures, featuring toptier musicians like Kudsi Erguner, Konstantina Maimari, and Vladimir Petrov throughout April. From Byzantine chants to classical masterpieces, the performances offer a vibrant celebration of global music traditions.
The Bank of Cyprus is leading the charge in ESG commitments, aiming to achieve carbon neutrality by 2030 and reduce GHG emissions by 42% from 2021 levels. Through innovative green financial products and sectorspecific lending limits, the Bank is actively supporting Cyprus’s transition to a lowcarbon economy while mitigating environmental risks.
Cyprus is accelerating tax reform under President Nikos Christodoulides’ push for progress, aiming to foster entrepreneurship, alleviate financial strain, and promote social equity. The reform includes measures to combat tax evasion, integrate green taxation for environmental sustainability, and enhance the nation’s economic competitiveness.
The new water carbon tax, set at one cent per cubic meter of water used, aims to promote ecofriendly water usage and align with global sustainability goals. It forms part of a wider strategy to implement green taxes and reduce the environmental impact of water consumption, highlighting the urgent need for conservation efforts and awareness about water scarcity.
The MA in Design for Social Innovation at the University of Cyprus and Cyprus University of Technology equips individuals with the skills to tackle global issues through design thinking and social entrepreneurship. The program blends academic rigor with realworld application, preparing students to lead and execute impactful social change initiatives, bridging theory and practice to nurture the next generation of changemakers.
Cyprus Business Now: The economy is growing with a focus on sustainable development and tech diversification, despite mixed results in financial sectors. Optimistic outlook includes GDP growth, reduced inflation, and lower unemployment rates in coming years.
The Paphos document forgery investigation has led to five arrests, with authorities delving into a scheme involving forged driving licenses and a residency permit from various European countries and Cyprus. The operation continues to unravel, with law enforcement focused on identifying all individuals involved in this criminal endeavor.
