Economy

Reduced VAT for first home may be approved until end of 2026

Cyprus lawmakers approved on Thursday a change allowing the Tax Department to examine and approve pending applications for the reduced VAT rate on primary...

Cyprus tourism: 40% decrease in April hotel occupancy in Ayia Napa

Ayia Napa reports drop in bookings Cyprus tourism is facing challenges due to ongoing instability in the Middle East, according to Ayia Napa Mayor Christos...

Crisis domino effect: Pressure on fuel, tourism and real estate

Energy costs and geopolitical risks weigh on outlook Cyprus' economy is facing growing pressure from international developments, particularly tensions in the Strait of Hormuz, according...

Jet fuel supply concerns flagged by EU despite no shortage risk

EU reassures on fuel availability The European Commission has dismissed reports suggesting an imminent fuel shortage across the European Union, including speculation of disruptions to...

Interest rate hikes expected in June amid war impact

Energy markets under pressure Global energy markets are facing renewed volatility as geopolitical tensions in the Middle East intensify, with analysts warning that the situation...