A new China tax incentive aims to encourage companies to invest in digital and smart upgrades of special equipment. Companies upgrading certain equipment that aids environmental protection and safe production can enjoy a deduction of the investment at a rate of 10 percent from their corporate income tax payable. We explain the requirements of the … Read more
Primary pupils were sent home early on Friday, as soaring temperatures reached a high of 45 degrees Celsius, and most public schools are not well equipped to handle the scorching heat. The Ministry of Education ordered all state schools to close early after a red alert was jointly issued by the Health Ministry, the Labour … Read more
Cyprus’ Producer Price Index in industry recorded a 3.8% decrease in April 2024 compared to the same month in 2023, primarily due to reductions in the electricity supply sector.
The play “The Only Thing You Need to Know About Derrida” is a theatrical performance written in response to crimes against foreign women in Cyprus. It aims to serve as an x-ray of modern social reality in Cyprus and is set in the red lake of the mines in Sia. The performance includes Filipino amateurs speaking in their native language and will be presented at the Cyprus International Theatre Festival from June 14-16, with additional performances until June 30.
The Industrial Production Index in Cyprus increased by 3.4% in March 2024 compared to March 2023. The manufacturing sector experienced a rise of 2.7%, with the water supply and materials recovery sector showing a significant surge of 23.3%. The manufacture of furniture and repair/installation of machinery and equipment rose by 11.9%. Conversely, the manufacture of paper and paper products and printing decreased by 8.9%.
Casts of an Island exhibition in Limassol features Cypriot contemporary art showcasing 120 works by 43 artists, with some pieces dating back to 2004. The exhibition will run until October 31 at the Carob Warehouse, which is being transformed into a cultural venue by the PSI Foundation.
A study in a small EU member state proposes reducing car use by 13.45% by 2040 through urban tolls and low-emission zones, sparking reactions and ultimately rejected by the Ministry of Transport. The country aims to increase public transport trips to 17% and decrease car use by 14%. Comparisons are made to other EU countries like Denmark and the Netherlands, which have successfully reduced car use through infrastructure improvements. The country is seen as lagging behind in implementing sustainable transport measures.
A new art installation called Love, Death and Meta will be housed at the Cyprus Museum in Nicosia from May 31 to October 31. The installation focuses on the existential conditions of love, death, and the METAhuman experience, combining antiquities from the Department of Antiquities’ collections with contemporary artworks by Michalis Charalambous. The centerpiece of the installation is a virtual reality work created with the contribution of ITICA of the CYENS Centre of Excellence.
Tototheo Maritime has rebranded to Tototheo Global, showcasing their evolution into a global leader in technology solutions. They will deliver services across multiple sectors with a focus on connectivity, IoT, AI-driven analytics, and custom software development. The company aims to enhance global connectivity and drive innovation across various industries.
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.