Current Events

The Cyprus Securities and Exchange Commission (CySEC) has granted an investment license to UAE-based Hoxton Capital Management.

The news of the license being granted comes over one year after Hoxton being granted a conditional license in the island nation.

According to a statement from Chris Ball, the firm’s managing partner, achievement of the license marks as a major step for the company’s growth and operations in the EU region, and a result of their dedicated to bringing their bespoke expert knowledge and to expat investors worldwide.

Previously, Hoxton Capital Management had announced reaching a total of €1.16bn in AUM as of March 2023.

An excessive amount of public demand has led the Limassol municipality to extend their Beach Sports Centre’s free-use status for one more month.

Inaugurated in July 2023, the sports center had an initial status of being free for use to foster engagement and give their potential users the chance to make use of their facilities.

A sum of €400,000 was spent to make the center, and the Cyprus Sports Organization (CSO) paid €122,000 of that amount.

The sports center has 3 beach tennis and volleyball courts along with a convertible beach football court.

The man whose body was found in the sea has been determined to have died of drowning.

According to Angeliki Papetta, the medical examiner, the preliminary autopsy has reveals that the man died from being asphyxiated by the water.

They further revealed that the man, 42, is a British national and permanent resident of Mazotos, who had gone to swim with his friends before disappearing.

He was later located by his friends, who found him unconscious in the water. They got help, and the man was taken out of the water and given first aid.

He was also taken to the general hospital in Larnaca by ambulance, but was pronounced DOA.

In the interest of safety, the Cyprus Police posted at the crossings of the divided area shall keep residential documents of those employed in the Republic of Cyprus who have their origins in third-countries.

The decision has been taken to cease the rise of third-country nationals exiting the Republic through the unrecognized Tymbou airport for other EU nations.

According to several insiders, many employers in Cyprus have been taking advantage of such people by charging them high fees for work permits and residential permits.

Many of them also go to the north of the island, which since 1974 has been under the thumb of Turkey. Once going there, they move to other EU states like Austria or Portugal, where they can use what is a valid EU document, they received from Cyprus anyway.

A Paphos resident has reported the police about his home being the victim of a burglary, where his jewelry and vehicle have been stolen.

Police mentioned a resident of Paphos placed a report that strange people had burglarized the home, stealing his jewelry, his passport and his vehicle.

The incident happened during the night.

The Paphos police have, upon preliminary investigation, determined that the perpetrator(s) entered the property via a window. They also said that they have collected different evidence pieces, aiming to identify the perpetrators.

A house was damaged in an explosion in Limassol.

The explosion happened after an improvised bomb was placed in a plastic box and thrown in the home’s first-floor veranda.

The police arrived at the scene not soon after, only to find the floor and door of the balcony completely damaged in the blast.

Further investigation is currently underway.

The Nicosia Police has forewarned civilians of loud noises and explosions in the Analyondas area, since they will be destroying more than a thousand different firecrackers that they have confiscated during Easter.

The police will destroy the stash in an army shooting range in this region.

They have said that the public must not be scared since every appropriate measure for safety and security have been taken.

The police in Limassol have arrested two people, aged 17 and 21 for stealing an elderly woman’s belongings. They have been charged with residence theft and felony conspiracy.

According to the police, the woman, aged 82 complained to the police about how she was sitting at home when a young man came outside her door and requested some water to drink.

The woman welcomed him and went to her kitchen to retrieve said water and gave it to the young man.

A few moments after he left, however, she found several of her personal items, including jewelry, money and documents to not be there.

The police in Cyprus have arrested two Syrian nationals for smuggling human beings after over sixteen migrants – also from Syria – were rescued from their sinking boat off of the coast of Cyprus.

According to the police, the suspects – both in their mid-forties shall remain in police custody, pending full investigation.

The police declared in a press statement that they received information about a boat in distress near Cape Greco in Ayia Napa. The migrants on the boat have since been rescued and brought to shore, while their boat sank. They have all been found to be in good health and taken to a reception center for migrants near Nicosia.

This has been the second time this has happened in less than 2 weeks.

Reports of Cyprus having foiled a terrorist attack by an Iranian group – aimed towards Israelis have been circulating.

According to the report, the attack in question, which has clear ties to the IRGC, was intended to kill Israeli nationals. However, the intelligence departments of Cyprus with that of other Western countries (including the United States & Israel) found and neutralized the threat in time.

This comes after the arrest of an Azerbaijani national holding a Russian passport, who had been working with the IRGC.

The island nation has increased the maximum awarded fine for not paying salary to €5,000, and with prompt actions.

The amended bill, which has been published in the Cyprus gazette, the other major update is the use of the Euro currency, which was Cyprus pounds before.

Prior to amendment, €170 (or 100 Cyprus pounds) was the maximum fine for not paying salary, while 150 Cyprus Pounds was the fine for giving inaccurate data to labor inspectors. The latter now also stands to be €5,000.

Furthermore, Yiannis Panayiotou has announced that the Minimum Wage Adjustment Commission will now function on a practical basis.

Last but not least, the minimum wage for Cyprus has been set at €885 straight after recruitment, with €940 gross income post a six month of employment.

In light of recent developments with the Wagner Group in Russia, the Cypriot Foreign Ministry has requested all of their citizens in the country to exercise extreme caution.

According to a statement by the ministry, Cyprus citizens in Russia must closely follow both the news and the general instructions from the government. They must travel only if absolutely necessary, and keep away from the southern part of the country.

If anyone wishes to contact the Cyprus Embassy, they can call on the registered numbers for Moscow, Saint Petersburg, the Krasnodar or Yekaterinburg – details available on the registered website.

The announcement comes on the heels of Wagner mercenaries retreating from Rostov overnight after putting a stop to their plans on invading Moscow.

According to Reuters, this happened on account of a deal, which neutralized President Vladimir Putin’s authoritative stance.

Mediated by Alexander Lukashenko, the president of Belarus, Wagner mercenaries shall return to their base, with guaranteed safety, whereas their leader Yevgeny Prigozhin shall go to Belarus.

Terkenlis, the famed Greek confectionery chain is shutting down in Cyprus.

In the past fortnight, the brand has closed up operations and has deactivated its pages on social media.

No one really knows exactly why the closure happened. It is perhaps why the company is facing great uncertainty over how its future shall unfold in the market scene of the island nation.

The Ministry of Defense received an alert following the fall of a National Guard soldier and his vehicle off of a bridge.

The incident happened on the highway of Nicosia-Limassol near the Alambra exit, where the non-commissioned officer suffered the tragedy.

According to early investigations, it was the driver who lost his control on the vehicle and spiraled into the cliff.

The officer was immediately rescued and admitted to Nicosia General Hospital’s Accident and Emergency Department.

A joint army drill between Cyprus’ National Guard and armed forces of other countries is being done at the Nicosia FIR.

According to a press release by the Ministry of Defense, the drill shall involve the execution of air defense scenarios using both ground and air assets.

Furthermore, there will be low flights and overflights along with partner forces’ fighter jets.

These activities are a part of Cyprus’ yearly military cooperation programme with its partner countries.

A boy, aged 4, was found dead floating in a swimming pool.

The Paphos police’s early investigations have determined the cause of death to be drowning.

Michalis Nicolaou, the head of the CID in Paphos as well as their spokesperson said that the child, found unconscious in the pool was to a private doctor, who declared him dead.

He added that more details should come pending further investigation.

Cyprus awaits some good news as the predicted weather portrays largely sunny skies, with some isolated local rain showers.

The Meteorological Service has said that the winds shall be varied, at 3-4 on the Beaufort scale, and largely moderate, westerly and north-westerly.

Accordingly, the sea shall be slight to smooth.

Following suit, the temperature will go up to 18 degrees Celsius in the mountainous regions, 25 degrees Celsius in coastal regions and 27 degrees Celsius inland.

Crime has been on the rise in Cyprus, and the latest incident only proves this to be true.

The Paphos Police have arrested a man, aged 43 for stealing and dealing stolen goods, and are currently finding the location of a second suspect.

Michalis Nicolaou, police spokesman and chief of CID said that the police were called in to a Kissonerga work site. Here, a 62-year-old man showed aluminum mold rails to the police, alleging how they were illegally in the 43-year-old man’s possession.

The accuser recognized the mold rails as one of the several things which were previously stolen from Emba field. Over 200 rails were stolen in the break-in.

Upon questioning, the 43-year-old man confessed that another man, aged 37 had sold the rails to him.

Further investigation is currently underway.

Cyprus is currently facing a major – in the shape of meeting the European Commission’s standards on waste management and recycling.

According to Philenews, the island nation might not be able to reach the minimum 55% recycling rate, and may spectacularly fail at reducing non-recycled waste by half within 2030.

According to the report, there are several issues when it comes to implementing both the separation as well as separation of collection of waste that is organic and recyclable. It also highlighted the time-sensitiveness of the Pay as You Spend (PAYS) system, which uses prepaid bags.

Several concerns have been aired in the recent debate of the House Environment Committee, and questions have been asked about the Municipal Waste Management Strategy of Cyprus for 2022 to 2028.

A strategy is currently being formed, which includes actively reducing the amount of solid waste in coastal regions, introducing a suitable system to sort waste in higher and hilly regions, and create dedicated composters and re-use in the cities. Other features include the developing a collection procedure for industrial and medical wastes.