recovery

Cyprus mulls law amendments for access to banking information

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Cyprus mulls law amendments for access to banking information

Authorities in Cyprus are discussing amendments to the law that would require them to request access to individuals’ banking information in cases where taxes or duties levied on behalf of the European Union are involved. The amendments aim to harmonize with an EU directive on mutual assistance for the recovery of claims related to taxes, duties, and other measures. The flaw in the current Cypriot domestic law is that it does not explicitly state the obligation to request the lifting of banking secrecy when recovering taxes and duties. The proposed changes have the support of the finance ministry, the banking association, the Central Bank, and the Personal Data Protection Commissioner. The amendments specify that the authorities making requests to lift banking secrecy will be disclosed on a case-by-case basis.

UK economy, ’s growth points to exit from recession

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UK economy, ’s growth points to exit from recession

Fact: Britain’s economy is on course to exit a shallow recession after output grew for a second month in a row in February, with GDP expanding by 0.1 per cent in monthly terms.

Cypriots squeezed out of the property market

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Cypriots squeezed out of the property market

Cypriots are facing difficulties in the property market due to climbing rents, high construction costs, and interest rates. The government is being urged to intervene to address the issue. In Limassol, renting a one-bedroom flat costs a minimum of €850 a month, making it unaffordable for many locals. The government has introduced new construction incentives to stimulate affordable housing development.

The European Parliament’s achievements through the eyes of the Cypriot MEPs

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The European Parliament’s achievements through the eyes of the Cypriot MEPs

The European Parliament has been instrumental in enacting reforms to enhance the lives of people in Europe, including managing the COVID-19 pandemic by endorsing the Recovery and Resilience Mechanism and contributing to the NextGenerationEU financial plan. Key achievements also include advancements in Green and Digital Transitions, implementing measures for health, welfare, and daily experiences of EU citizens, and supporting young people through initiatives like the European Year of Skills.

Cyprus , ‘well below’ EU renewable energy target

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Cyprus , ‘well below’ EU renewable energy target

– Cyprus’ contribution to the EU renewable energy target is below that required by EU legislation.
– The EU Commissioner for the Environment, Oceans, and Fisheries, Virginijus Sinkevicius, stated that Cyprus has taken significant steps towards implementing green reforms and investments.
– There is untapped potential for renewable energy in Cyprus.
– The updated national Recovery and Resilience Plan is important for accelerating the use of renewable energy in Cyprus.
– Sinkevicius highlighted Cyprus’ failures in Natura 2000 areas and the EU’s decision to take the country to the EU Court of Justice.
– He emphasized the need for appropriate measures in areas of conservation.
– Sinkevicius mentioned that environmental protection and development of tourism should not be contradictory goals.
– The EU supports bi-communal cooperation on the environment in Cyprus through technical support, funding, and projects with an environmental footprint that benefit both sides.
– Sinkevicius discussed the EU’s role in preventing wildfires, reforestation policies, air pollution, and dealing with the increase of dust storms in Cyprus.

Climate change another challenge for tourism

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Climate change another challenge for tourism

The tourism industry in Cyprus is facing challenges from climate change, geopolitical developments, and economic conditions. The president of the Pancyprian Association of Hotel Managers emphasized the need for support from the state, including training programs and tax incentives. The Deputy Minister of Tourism highlighted the importance of addressing climate change and improving the quality of services through education and skill development.

Artificial nests placed to promote pest control

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Artificial nests placed to promote pest control

Bioland Energy Group has placed 34 artificial nests for barn owls in various locations across Cyprus to promote sustainable pest control.

Posidonia 2024 marks the rebirth of the Greek shipbuilding industry

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Posidonia 2024 marks the rebirth of the Greek shipbuilding industry

Posidonia 2024 is set to mark the rebirth of the Greek shipbuilding industry, with over 85 shipyards from 26 countries confirmed to showcase their vessel design and production innovations from June 3-7.

Koumis wants tourism cooperation with other countries

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Koumis wants tourism cooperation with other countries

Fact: Deputy Minister of Tourism, Kostas Koumis emphasized the importance of international collaboration to overcome challenges facing the tourism sector during the 70th Session of the Europe Commission of the World Tourism Organisation (UNWTO) in Tirana.

Atletico must prove they deserve to be among Europe, ’s best

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Atletico must prove they deserve to be among Europe, ’s best

Atletico Madrid manager Diego Simeone said his team must prove they are worthy of being among Europe’s top-eight teams as they prepare to host Borussia Dortmund in the Champions League quarter-final first-leg clash.