Larnaca, Cyprus, has become a hotspot for real estate investment, with a 36% cost reduction on preowned properties compared to new ones, making it an attractive choice for investors and homebuyers. The city’s market dynamics reflect a growing trend of property ‘flipping’, showcasing its adaptability and potential for growth in the residential real estate sector.
Consumers in Cyprus are facing a dire situation with rising costs of essential goods and energy, high interest rates, and soaring real estate prices, making it the second EU nation struggling with energy poverty. Calls for government intervention include taxing windfall profits, expanding the Cost of Living Allowance, reducing fuel prices, and providing economic support for electric car purchases to alleviate financial burdens on low and middleincome households.
The Larnaca children’s shelter was thrown into chaos as altercations among residents led to violence against peers and a police officer. The situation escalated, requiring medical attention for the injured and resulting in a total of eight arrests made by law enforcement.
Digital innovation, exemplified by projects like CADiP, is crucial in preserving cultural identity by documenting artifacts and safeguarding them against loss. This digital preservation not only protects heritage but also ensures accessibility for future generations, combating cultural amnesia and asserting the unique identity of civilizations.
The Youth Tech Fest Cyprus 2024, hosted by Limassol’s Frederick University on April 20, 2024, promises an exciting lineup of interactive workshops and shows in Robotics, Gaming, Woodworking, and XR/VR to inspire innovation and creativity in youths. This event, coorganized with industry professionals and academics, aims to empower young minds and bridge the gender gap in technology through ESTEAM workshops like Girls Go Circular.
In a significant breakthrough, Cyprus Police have arrested a 43yearold man linked to a money laundering case involving a Ukrainian woman who transported €8 million to Cyprus. This arrest highlights the authorities’ commitment to dismantling illicit financial networks and marks a significant stride in combating financial crimes.
The Central Bank of Cyprus (CBC) is spearheading the Global Money Week 2024, running from March 18 to 24, to boost financial literacy among youth through engaging activities and educational campaigns. With a theme of “Protect Your Money, Secure Your Future,” the initiative aims to empower young individuals with essential financial knowledge and skills for effective money management.
Epic has been recognized as Cyprus’ Fastest Fixed Internet Network by Ookla, boasting top Speed Scores and superior reliability in internet services. Awarded at the Mobile World Congress, Epic’s commitment to speed and innovation has solidified its position as a leader in the telecommunications industry.
The Cyprus Open Chess Championship, sponsored by Freedom Finance Europe and the Cyprus Chess Federation, has significantly elevated chess’s profile in Cyprus, offering both competitive play and academic opportunities. The event concluded with an award ceremony, celebrating strategic prowess and hinting at chess’s bright future on the island, with calls for its integration into educational curriculums.
Cyprus is boosting its electric vehicle (EV) infrastructure with a grant for 1,000 new charging points, part of the Recovery and Resilience Plan for a cleaner future. Individuals, entities, and local authorities can apply for financial support to expand the accessibility of EV charging across various locations, enhancing the nation’s commitment to sustainable mobility.
