Breaking news

€50m Jewish Education Hub to Break Ground in Limassol

A private education project worth over €50 million is advancing in Polemidia, Limassol, with construction preparations underway for a new school funded by the Yael Foundation.

Work is expected to begin in September, as the final architectural designs are now being completed in parallel with the school’s licensing application to the Ministry of Education.

International Education Standards

According to information from the Yael foundation, the response from the Ministry has so far been positive, with the school set to follow international education standards.

As stated on the foundation’s official website, the project aspires to create a flagship Jewish school in Limassol, a point of reference for Jewish education both in Cyprus and abroad.

A Beacon of Excellence

The institution will combine Jewish values with modern pedagogical methods in a high-standard academic environment, with the Foundation describing it as a future “beacon of excellence.”

The school is expected to open in 2027 and will host up to 1,500 students from Cyprus and overseas.

Facilities and Leadership

Its facilities will include modern classrooms, science laboratories, creative studios, a library, sports infrastructure, and places of worship, forming a fully integrated learning and development space across primary, middle, and secondary levels.

Leading the new institution will be Rabbi Yehoshua Smukler, originally from Israel, who brings experience from similar educational projects in Australia.

In his statement, the Rabbi said that “The school will be the cornerstone of the Jewish community of Cyprus, making it an even more attractive place to live.”

He frequently travels between Israel and Cyprus to oversee the project and is widely known for his commitment to academic excellence and Jewish education.

The Yael Foundation

Founded in 2020 by Uri and Yael Poliavich, a Jewish couple who have settled permanently in Cyprus, the Yael foundation is dedicated to strengthening Jewish identity through accessible, high-quality education.

The foundation is currently active in 35 countries, supporting around 13,000 Jewish students worldwide.

According to the organisation, it provides funding to 55 day schools, 18 catechism schools, 10 kindergartens, and 17 after-school programmes.

Cyprus Reduces Fuel Tax By 8.33 Cents As Prices Continue To Rise

The latest surge in fuel prices is putting unprecedented pressure on consumer purchasing power, forcing government intervention amid volatile global energy markets. Historic highs at the pump have compelled officials to enact further consumption tax cuts in a bid to stabilize household budgets while international trends remain unpredictable.

Government Intervention And Policy Measures

Authorities plan to approve an 8.33 cent per liter reduction in consumption tax on premium unleaded gasoline and diesel, effective from April 2026. This will be the third intervention since 2022, when fuel prices rose following the Russian invasion of Ukraine, and after a further adjustment in November 2023.

Historical Context And Comparative Analysis

Fuel prices have increased over recent years. In March 2022, premium unleaded stood at €1.442 per liter and diesel at €1.500. By November 2023, prices rose to €1.550 for gasoline and €1.709 for diesel. As of March 2026, gasoline reached €1.571 per liter and diesel €1.819. Compared with 2023 levels, gasoline prices increased by 1.8 cents per liter, while diesel rose by 10.9 cents.

Global Market Dynamics Impacting Local Prices

International benchmarks continue to influence domestic fuel prices. Brent crude remains above $100 per barrel, while the price of heavy Brent oil has increased by about 58% since February 2026. Market indicators such as the Platts Basis Italy index show increases of 52% for gasoline, 89% for diesel, and 88% for heating oil. These trends affect import costs and pricing across the local market.

Consumer Concerns And The Search For Relief

The planned tax reduction may provide short-term relief for transport fuels. Heating oil prices remain higher, reaching about €1.30 per liter, approximately 6 cents above previous levels. No tax reduction has been announced for heating fuel. According to Konstantinos Karagiorgis, reliance on private vehicles increases the impact of fuel price changes on households, given limited public transport options.

Outlook And Future Considerations

The tax reduction is expected to offset part of the recent increase in fuel costs. Consumer groups, including the Cyprus Consumer Association, have called for similar measures on heating oil. Further developments will depend on global energy prices and geopolitical conditions.

The Future Forbes Realty Global Properties
Aretilaw firm
eCredo
Uol

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter