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Cyprus has once again increased the proportion of renewable energy in its gross final energy consumption, according to the latest data released by Eurostat, underscoring steady progress in the country’s energy transition at a time when the European Union as a whole continues to lag behind its long-term climate objectives. Eurostat data show that renewable sources accounted for 25.2 per cent of gross final energy consumption across the EU in 2024. This represents a rise of 0

Hourly labour costs in Cyprus rose by 3.5 per cent in the third quarter of 2025, placing the country close to the European Union average and reflecting ongoing wage and cost pressures faced by employers across Europe, according to the latest figures released by Eurostat. Data from the EU’s statistical office show that during the same period, hourly labour costs increased by 3.3 per cent in the euro area and by 3.7 per cent across the EU as a whole, compared with the third q

Cyprus is facing an increasingly severe housing challenge that is placing growing pressure on young people and first-time homebuyers, according to the Cyprus Borrower Protection Association (Syprodat), which is urging swift and meaningful action as the European Union steps up efforts to address rising housing costs across the bloc. This week, Syprodat said a newly unveiled European Commission initiative on affordable housing underscores the urgent need for comprehensive and

Cyprus and Vietnam took another significant step in deepening their bilateral relationship on Wednesday, signing a double taxation avoidance agreement aimed at enhancing economic cooperation and curbing tax evasion related to income taxes. The agreement was formalised at the finance ministry in Nicosia and was signed by Cyprus’ Finance Minister Makis Keravnos and Vietnam’s Deputy Minister of Finance Cao Anh Tuan. The convention is designed to provide greater clarity and