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Probe on Jho Low golden passport case still ongoing

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Probe on Jho Low golden passport case still ongoing

Authorities are close to completing an investigation into how Malaysian fugitive Jho Low obtained Cypriot citizenship in 2015. Low, wanted for allegedly embezzling billions from Malaysia’s 1MDB fund, acquired a Cypriot passport through the country’s citizenship by investment program. The investigation involves an international arrest warrant and the potential confiscation of a villa Low purchased in Ayia Napa. Despite initial delays, Low’s citizenship was revoked in May 2023, leading to an appeal filed with the Supreme Court. Low denies wrongdoing and his whereabouts are unknown.

Limassol continues to dominate high-end property sales

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Limassol continues to dominate high-end property sales

The ten most expensive property sales in Cyprus in April totaled €16.2 million, with Limassol being prominent in the high-end market. The highlight was a house in Paphos’ Kouklia that sold for €3 million. Limassol had the highest total transactions at €10.3 million, followed by Paphos at €4.9 million and Nicosia at €1 million. In the larger context of the 50 most expensive transactions, the total value reached €35.6 million, with Limassol leading with 37.1% of the total. Residential properties dominated the high-end market, with Limassol continuing to lead in high-value property sales.

EAC upgrades to stabilise system

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EAC upgrades to stabilise system

The board of the Electricity Authority of Cyprus (EAC) is set to award contracts for two projects worth €45 million to beef up the electricity transmission system. The EAC’s top priority is the stability of the system and providing uninterrupted power to consumers. The EAC is also working on increasing infrastructure projects to help with the penetration of renewables in the energy mix. The layout of the grid is not to blame for discarding energy generated from renewables, as the cutbacks are due to demand being less than the generated electricity. It is currently unfeasible to have a transmission grid that allows the connection of renewables from anywhere in Cyprus due to the high cost of building a new network. Strengthening transmission lines would require a major investment of hundreds of millions of euros, which consumers would have to pay for. Acquiring permits for new transmission lines also takes a long time.

🔒 Why Biden is the best president that business could hope for

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🔒 Why Biden is the best president that business could hope for

Fact: No Democratic president since at least Grover Cleveland in the late 19th century has been beloved by American business.

Guilty victims, innocent victimisers

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Guilty victims, innocent victimisers

The Israeli government is accused of pursuing a policy of ethnic cleansing to achieve maximum land with minimum Arabs, leading to a modern-day genocide. The propaganda machine distorts slogans to justify actions, while those advocating for peace and an end to slaughter are labeled as terrorist sympathizers.

Twelve injured as Qatar Airways Dublin flight hits turbulence, airport says

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Twelve injured as Qatar Airways Dublin flight hits turbulence, airport says

Twelve people were injured on a Qatar Airways flight from Doha to Ireland due to turbulence, but the plane landed safely. The incident lasted less than 20 seconds during food and drinks service.

Twelve injured as Qatar Airways Dublin flight hits turbulence, airport says

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Twelve injured as Qatar Airways Dublin flight hits turbulence, airport says

Twelve people were injured during turbulence on a Qatar Airways flight from Doha to Ireland, but the plane landed safely and as scheduled.

Our View: Investigate costly project disputes inherited by government

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Our View: Investigate costly project disputes inherited by government

The government is currently dealing with disputes with big project contractors, including the potential termination of contracts for the Larnaca port/marina and Vassilikos gas terminal projects. These disputes have arisen due to major disagreements over costs, with some projects heading for costly legal battles. The government has also faced challenges with road construction projects, with disagreements over costs and delays. The government has inherited these issues from the previous administration and may be facing significant financial consequences as a result.

Official side did not leak info during major property trial, court rules,  

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Official side did not leak info during major property trial, court rules,  

The Nicosia district court ruled that neither the legal service nor the police leaked information to the media in connection with a criminal case against a property developer in 2014.

Cyprus ready for wildfire season, says agriculture minister

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Cyprus ready for wildfire season, says agriculture minister

Fact: The primary focus of the exercise was to assess the effectiveness of the national firefighting strategy ‘Hephaestus’ for large forest fire suppression.