Paralimni redevelopment advances as fuel price concerns and CSE suspension continue

Paralimni, Cyprus. The Paralimni-Deryneia municipality has secured planning permission for a redevelopment of Paralimni’s central core, while concerns were raised over heating oil prices and the Cyprus Stock Exchange extended a trading suspension.

Paralimni town-centre redevelopment

The municipality said on Thursday that it received the permit on Monday, August 10, clearing an important hurdle in its wider development programme.

The project will include replacement of the existing road surface, construction and upgrading of pavements, tree planting, green spaces, and service areas for shops and visitors.

Parking spaces will also be created under the scheme, which is intended to make the centre easier to use for residents, businesses and tourists. The municipality said the aim was to create a modern, functional and accessible urban environment that would improve residents’ daily lives and support local commercial activity.

Heating oil price concerns

The cost of filling a 1,000-litre heating oil tank in Cyprus has risen by almost €500 since March, prompting questions over whether retail fuel prices are being properly monitored.

The consumers association said it accepted that turmoil in the Middle East had increased international energy costs, but questioned whether those pressures fully explained the increases passed on to Cypriot motorists and households.

Association president Marios Drousiotis told the Cyprus News Agency on Thursday that the figures provided strong indications that something was wrong with fuel prices in Cyprus. He called on authorities to provide evidence that the increases were justified.

Reputation Exchange Plc suspension

The Cyprus Stock Exchange announced on Thursday that it had extended the suspension of trading in Reputation Exchange Plc shares on its Emerging Companies Market for a further two months, until October 19, 2026.

The CSE said the suspension would remain in place because the company does not have an appointed listing adviser and has not issued and published its annual financial report for the year ended December 31, 2025.