Authorities in Nicosia announced plans to enhance and expand a dog shelter serving six municipalities. The shelter, managed by Simba Animal Aid, is Cyprus’ sole municipal shelter for stray dogs.
Marios Tannousis is the CEO of Invest Cyprus, focusing on attracting and facilitating Foreign Direct Investment (FDI) in Cyprus. Cyprus has committed to spending €500 million by 2026 to combat climate change and foster the green transition. Cyprus aims to become the best place in Europe to live, work, and do business by transitioning towards a renewable energy system and implementing Environmental, Social, and Governance (ESG) criteria. The country is strategically positioned to help combat climate change in the Middle East and North Africa regions. Cyprus is working towards becoming a leader in sustainability and developing a circular zero-waste economy.
Capital Intelligence has revised upwards the sovereign ratings for Cyprus due to a faster than projected decline in general government debt, consistent primary fiscal surpluses, proactive debt management, progress in clearing up non-performing loans in the banking system, and declining government contingent liabilities from the banking sector.
Cyprus’ tourism revenue in January 2024 was €45.2 million, a slight decrease from €45.6 million in January 2023.
Fact: Growth in the United Arab Emirates’ non-oil business sector eased slightly in March, with supply constraints from shipping disruption in the Red Sea contributing to backlogs.
The Church of Panagia Ayia Napa conducted an unlicensed raffle to raise funds for an illegally built monastery in a protected area. The Ministry of Finance considers this a serious offense and plans to demand an immediate halt to the raffle, as well as forward a report to the police for investigation. The raffle tickets also included a section for collecting donations, but the Church clarified that the funds were for general charitable purposes, not specifically for the controversial monastery project. Environmental groups have condemned the Church’s actions, questioning the legitimacy of the raffle and criticizing the promotion of an unlawful construction project.
Fact: Strong demand helped drive non-oil business activity in Saudi Arabia in March, with output accelerating to a six-month high.