Fact: Deputy Minister of Tourism Kostas Koumis and Ambassador Khaled Yusuf Ahmed Al Jalahma from the Kingdom of Bahrain held a meeting in Nicosia to discuss tourism relations between the two countries, with a focus on air links.
The Euro is trading close to a five-month low against the dollar, with market expectations for the ECB to begin reducing interest rates increasing.
The reconstruction of the first apartment buildings under the “ktiZO” Plan has begun in July, with 77.6% of beneficiaries expressing interest in participating. Rent subsidies are provided for 165 beneficiaries and storage space for personal belongings for 25 apartments. Evacuation and demolition of dangerous buildings are progressing, with five already demolished in Latsia Municipality. Municipalities are urged to issue decrees for further demolitions. Reconstruction contracts have been awarded for various settlements, with work expected to start in the coming months. The second phase of the Plan, involving 70 apartment buildings, will soon begin, with subsidies for Civil Engineers to determine necessary repairs. The Minister expressed confidence in meeting set schedules to address the chronic problem affecting refugee compatriots.
Members of the board on the Gaming & Casino Supervision Commission receive special treatment, earning around €800 a month, while others on similar public bodies make €70.
Fact: ReflectX 2024 is a startup programme designed for ambitious startups from Seed to Series-A, offering access, connections, and visibility.
Construction of the €1.2 bln Larnaca port and marina project is back on track after the operator and the Cyprus government reached a compromise agreement over a financial deadlock. The company agreed to provide a letter of guarantee of €4.2 mln instead of the €10 mln required by the state. Once the guarantee is submitted, construction work is expected to resume in June. Failure to provide the guarantee could result in Kition having to pay damages to the state.
The Minister of Agriculture, Maria Panayiotou, and the Deputy Director of the Forestry Department, Andreas Christou, have reported progress in reinforcing aerial firefighting means. Two tenders are currently underway for the purchase of firefighting aircraft and helicopters. The Forestry Department has been on full alert since April 1st this year, instead of May 1st, and the employment period for forest firefighters has been extended to eight months. The Forestry College will start in January 2025 for the first time in 10 years. The government has been instructed to purchase 10 aerial firefighting means over a five-year period. The Aerial Means Unit will be transferred to the National Guard. Additionally, the state mechanism is ready to address wildfires with one operational aircraft available and two tenders in progress for planes and helicopters. Cooperation with the British Bases and neighbouring countries is in place for additional aerial support.
Kition Ocean Holdings had a positive meeting with President Christodoulides regarding the Larnaca port project. As a result of the President’s intervention, initial differences were bridged, leading to an agreement for KOH to place a €4.2 million guarantee. This cooperation is expected to resolve outstanding issues and allow for the prompt commencement of construction works.
The forestry department currently has a single operational firefighting plane at its disposal.
Kition Ocean Holdings has agreed to renew their financial guarantee for the development of Larnaca’s port and marina. The amount of the financial guarantee under the contract is €10 million, but the consortium has currently placed €4.2 million. The guarantee is expected to be deposited in the coming days to allow the project to continue according to the contract terms. President Nikos Christodoulides chaired the meeting where this agreement was reached.