The Energy Regulatory Authority of Cyprus, Cera, has received a proposal from Greece’s Admie for the groundbreaking Great Sea Interconnector project, connecting power grids of Israel, Cyprus, and Greece. This project aims to boost energy security, integrate renewable sources, and potentially lower energy costs in the Mediterranean region by reducing reliance on fossil fuels.
The two men in Larnaca are accused of concealing an arsenal of weapons in an Oroklini graveyard, facing charges including possession of firearms, ammunition, explosives, and a silencer. Their not guilty plea sets the stage for a legal battle that highlights concerns over public safety and potential criminal activity, as the community awaits the next steps in the unfolding case.
Diplomatic tensions escalate as migrants remain stranded in Cyprus buffer zone, with President Christodoulides criticizing UN’s intervention and blaming Turkey for crisis. UN provides basic needs for migrants but rejects returning them to Turkey, emphasizing collaboration with UNHCR for a sustainable solution.
The windfall tax proposal on Cypriot banks, introduced by Akel, aims to levy a 5% tax on banks’ unexpected profits to create a social solidarity fund for struggling borrowers, mirroring EU nation models. As discussions heat up, concerns over constitutionality and governance hesitations loom, with the debate showcasing the delicate balance between social welfare and financial stability in Cyprus.
The escalating militarization in the Cyprus buffer zone, as raised by UN Official Colin Stewart, poses a threat to peacekeeping efforts established by UN resolutions. Stewart’s concerns highlight the impact of increased defensive positions and military technology on the demilitarized status of the area, further exacerbated by the political stalemate hindering progress towards reconciliation.
The 27th Cultural Festival at Axiothea Mansion in Nicosia features a diverse lineup, including the “European Winds II” concert, a collaboration between Machiko Ozawa and Rami Sarieddine, a modern adaptation of Greek shadow theatre, and a satirical play “Fiakas” by ETHAL. This summer promises a vibrant blend of music, theater, and cultural heritage under the warm Mediterranean sky.
The completion of the Nicosia Ring Road faces further delay, now expected to be finished by July 15, 2023, due to unforeseen issues like adverse weather and extra work. Delays may result in a €5,500 daily fine for the contractor until completion, impacting efforts to reduce traffic congestion and enhance economic activity in Nicosia.
In a highlevel government meeting with President Nikos Christodoulides and SecretaryGeneral Marija Pejcinovic Buric, the focus was on missing persons in Cyprus and the country’s application against Turkey. The urgent need for accountability and resolution for affected families was highlighted, underscoring the pressing humanitarian issue at hand.
The CBC’s decision to maintain the countercyclical capital buffer at 1% showcases a commitment to financial stability and resilience in Cyprus. By adhering to international financial standards and preparing banks for potential risks, the CBC aims to safeguard the economy against future downturns while promoting steady growth.
Buyers must be aware of their rights and the legal implications when a developer decides to add an extra floor to a building, as this can lead to breaches of contract, diminished property value, and share of communal spaces. Recent Supreme Court decisions have upheld buyers’ rights to terminate agreements, seek refunds, and claim damages in such situations, emphasizing the importance of contractual obligations in property transactions.
