Economy

Olympic Lagoon deal completed in Paphos

Blackstone confirms first Cyprus investment The Olympic Lagoon deal has been officially completed, with the American investment giant Blackstone acquiring K.A. Olympic Lagoon Resort Limited,...

Eni finalises Cronos field plan, aims for 2027 gas exports

The Italian energy giant Eni enters the final phase of deciding whether to commercially develop the Cronos natural gas field, located offshore Cyprus in...

Tax reform expands relief, allowing deductions of up to €3,000

Cyprus taxpayers gain substantial income tax deductions under new January 2026 legislation, claiming up to €3,000 annually across housing costs, energy-efficient home improvements, and...

Civil servant salary in 2026 ranges from €9.48 to €46.12 per hour

New remuneration tables from Public Administration and Personnel Department detail civil servant hourly salary spanning €9.48 at lowest A1 entry scale to €46.12 for...

Iran rial hits zero vs euro – Currency effectively unexchangeable

Iran faces deep economic crisis and growing political unrest as the rial currency effectively lost all value in Europe, dropping to zero against the...