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421. Retail turnover surges by 5.8% in February 2024

The Turnover Value Index of Retail Trade for February 2024 surged by 5.8% compared to the same period the previous year, according to data released by the Statistical Service of Cyprus. ...

422. Olive oil jumps 61.7% in March 2024 compared to last year

In March 2024, the price of olive oil surged by 61.7% compared to the same period in 2023, as reported by the Cyprus Consumers Association....

423. EU probes Chinese subsidy claims in Romania solar tender

424. Chevron's new proposal for ''Aphrodite''

March 31 marked the end of the three-month deadline given by Nicosia to the US company Chevron, a key partner in the joint venture for the development of Block 12 ...

425. 2,540 Ukrainian refugees denied protection

About 2,540 Ukrainian refugees have been suspended from temporary protection in the Netherlands since March 4, 2024. They are now forced to seek safety in the country or leave. ...

426. Home prices show mixed trends in latest quarter

In the latest findings released by the Statistical Service, the House Price Index (HPI) has shown a mixed pattern in the fourth quarter of 2023....

427. €26,340 in bounced checks in March

In March 2024, a total of 15 bad cheques, amounting to €26,340, were issued, with 6 individuals (5 legal entities and 1 natural person) being listed in the preliminary registry of the Central Information Register (CIR) for dishonoured cheques. ...

428. Authorities stumped on declared cash

The question of the whereabouts of over 90 million euros in cash allegedly spent by travelers arriving in Cyprus through Larnaca and Paphos airports in the last 15 months remains unanswered by competent state authorities....

429. Fortifying digital banks and battling cyber threats

The period we are going through raises serious concerns about the security of critical digital infrastructures. Among these, the most significant are those of banks, and in this direction...

430. Finance Minister extends rent program to assist more homeowners

The Cabinet has approved an expansion of beneficiaries for the Rent Relief Program against Installments, announced Finance Minister Makis Keravnos after the body's session. ...

431. Countdown begins for next Cyprus Central Bank Governor

As the clock ticks towards the end of Mr. Konstantinos Herodotou's tenure on April 11, all eyes are on the impending announcement of his successor by President Nikos Christodoulides. ...

432. Cyprus sees 6.2% increase in average monthly earnings for Q4 2023

The average gross monthly earnings of employees in Cyprus during the fourth quarter of 2023 saw a notable increase compared to the same period in 2022, according to provisional data released by the Statistical Service of Cyprus on Tuesday....

433. Cablenet breaks the 10% market share barrier in mobile contract subscriptions

The market share report published by the Office of the Commissioner for Electronic Communications and Postal Regulation (OCECPR) for the Electronic Communications market until the end of 2023 was fully aligned with Cablenet's 2023 financial performance....

434. America's airports finally win the restroom race

After a decade-long slump, American airports are celebrating a resurgence in restroom excellence....

435. Health Insurance Organization fines 40+ providers €80K

The Health Insurance Organization (HIO) has imposed fines totaling 80 thousand euros on over 40 health providers in 2023 for abuses within the General Healthcare System (GHS), according to data obtained by the Cyprus News Agency (CNA)....

436. Cyprus Central Bank holds 1% buffer rate to safeguard banks

The Central Bank of Cyprus (CBC) has maintained the countercyclical buffer (CCyB) rate to be observed by commercial banks at 1%, with effect as of June 2, 2024....

437. Mykonos faces tourism crisis amid declining numbers

Despite promising signs for other parts of the country as regards the number of flights and seat bookings for the 2024 tourism season, Mykonos is seeing a decline in both indices for the second year in a row. ...

438. The FBI in Cyprus

By enlisting the help of the FBI – as announced recently – Cyprus is making an effort to deal with the problem of corruption that has been a blight on the country’s reputation for so many years....

439. Cyprus' industrial output soars with 4.2% surge

Cyprus’ Industrial Production Index surged to 99.5 units (base year 2021=100), marking an annual increase of 4.2% compared to the same period in 2023, according to data released on Thursday by the Statistical Service of Cyprus. ...

440. Government strengthens social safety net with nationwide social worker program

In a move aimed at bolstering the country's social safety net, Cyprus President Nikos Christodoulides announced a nationwide expansion of the Neighbourhood Social Workers' Programme....

441. 'Dirty fuel' suspected in Baltimore bridge collapse tragedy

Federal, state, and local authorities are launching a comprehensive investigation into the tragic Baltimore bridge collapse, focusing on various potential factors, including the possibility of contaminated fuel playing a role. ...

442. Cyprus maritime sector advances amidst ambitious goals

''Without a doubt, we take pride in the achievements of the past 60 years. Our ambition is to set even higher targets and strengthen the competitiveness of Cypriot shipping,...

443. Global maritime alliance implements fees to curb ship emissions

At the latest meeting of the International Maritime Organization, a coalition of 60 member states made a joint decision to levy fees on greenhouse......

444. Hotel Brain sets sights on Cypriot hospitality domination

The Greek hospitality powerhouse, Hotel Brain, sets its sights on Cyprus, unveiling plans to tap into the island's vibrant market....

445. Cyprus boasts second largest EU-born resident share

Cyprus had the third largest share of foreign-born residents among EU countries (22.7%), and more specifically the second largest share of residents born in another EU country (10.6%) in 2023, according to data released by Eurostat....

446. Russian oil payments delayed amid sanctions scrutiny

Russian oil companies are facing significant delays in receiving payments for crude and fuel as banks in China, Turkey, and the United Arab Emirates (UAE) exercise increased caution over potential U.S. secondary sanctions, according to eight sources familiar with the matter....

447. Finance Ministry to shield vulnerable homes from price hikes

The forthcoming measures are set to target specific areas, not just spread thinly across the board, in the fight against rising prices....

448. Cyprus grapples with €80 million surge in state budget deficit for 2023

The state budget deficit for 2023 increased by €80 million compared to the deficit recorded in 2022, according to the Fiscal Report of the Republic of Cyprus for 2023, submitted to the House of Representatives....

449. Thanasis' death inquiry reaches boiling point with third interrogation

After a series of intricate legal proceedings, including testimonies from the Legal Service and family attorneys, the complex investigation into the death of 26-year-old soldier Thanasis Nicolaou is nearing its conclusion. ...

450. Business loans drop, home loans steady

The Central Bank of Cyprus reported on Wednesday that the net demand for corporate loans continued to decrease in the last quarter of 2023, marking a consistent downward trend since the first quarter of 2022, although at a slower pace than anticipated earlier in the year....