Economy

Audit Service reports HFC banking system failure, €3.55M loss

Project dead despite heavy payments A special Audit Service report details severe issues and major financial failure from the implementation of a new Banking Information...

Turkmen gas and its strategic role in Europe’s energy security

Europe has made significant strides in reducing its reliance on Russian natural gas since 2021. According to data published by the European Council, Russia’s...

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...