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511. Cypriot banks sending loans abroad: A growing risk?

Yesterday, I had a conversation with someone who truly understands banking—probably more knowledgeable than many who think they do....

512. Spike in suspicious transactions as Cyprus freezes over €25 million in illicit assets

Reports of suspicious transactions in Cyprus have risen sharply in 2023, reaching levels similar to those in 2021, as per a story by Kathimerini's Dorita Yiannakou....

513. Cyprus' EU nominee under fire for waste management scandal

Costas Kadis, Cyprus' nominee for EU Commissioner for Fisheries and Oceans, is facing criticism over his handling of a controversial waste management scandal ahead of his November 6 hearing before the European Parliament's Fisheries Committee....

514. Water crisis looms as Cyprus dams hit 27%

Cyprus is grappling with a severe water shortage as the ongoing drought pushes the country's dam capacity to worrying levels. According to Gianna Economidou......

515. Record tourist numbers for 2024, slightly surpassing pre-pandemic levels

Tourist arrivals in Cyprus reached 3.27 million between January and September 2024, marking a 4.2% increase compared to the same period in 2023, according to data from the Statistical Service of Cyprus (Cystat)....

516. WhatsApp and Instagram teams face job cuts in Meta overhaul

Meta has started implementing layoffs across various departments, including WhatsApp, Instagram, and Reality Labs, according to sources familiar with the matter....

517. Cyprus tops Europe in lawyers but struggles with court delays

Cyprus leads Europe with the highest number of lawyers per capita, with 505 lawyers per 100,000 residents, far above the European average, according to a new Council of Europe report....

518. Cyprus' infrastructure shines as MED9 Summit boosts tourism

519. 5.9-magnitude earthquake hits Eastern Turkey, causing collapses

A 5.9-magnitude earthquake struck eastern Turkey at 10:46 a.m. today, with its epicenter located in the Kale district of Malatya province. ...

520. Global debt to exceed $100 trillion this year

Global public debt is nearing the size of the world economy, posing risks to living standards in developed nations, the International Monetary Fund (IMF) warned....

521. Bank profits in crosshairs as tax talks heat up

The future of a special tax on bank deposits paid to the state may be heading for a shift, though a final decision is not guaranteed. ...

522. Greek households order food up to 3 times a week

More and more households in Greece are relying on takeout, having food delivered as many as three times a week. Rising demand has also led to an increase in recent years of food service enterprises being established with the exclusive purpose of distributing ready meals, without having a dining area....

523. Israel and Cyprus in talks for natural gas supply

The energy ministries of Israel and Cyprus are currently engaged in discussions aimed at potential cooperation in the energy sector, according to a report by S&P Global. ...

524. Over 100 US troops deployed to Israel as war in Gaza escalates

The United States is deploying one of its most advanced missile defense systems, along with approximately 100 troops, to Israel, deepening its involvement in the escalating conflict in the Middle East ahead of an expected Israeli offensive on Iran, according to U.S. media reports. ...

525. UK youth joblessness jumps 25% since 2022

A growing number of young people in the United Kingdom......

526. A night of remembrance as Israel honors victims of the Oct 7th massacre

On the evening of October 7, 2024, the Israeli Embassy organized a poignant memorial ceremony at the Hilton Hotel in Nicosia, Cyprus. ...

527. Cyprus nears inclusion in U.S. Visa Waiver Program

Cyprus is progressing toward inclusion in the U.S. Visa Waiver Program, a move expected to simplify travel for Cypriots while strengthening cooperation between the two nations in combating serious crime....

528. Over 1,600 domestic violence complaints in first half of 2024

The number of domestic violence complaints in Cyprus has steadily increased over the past five years, prompting concerns among authorities and advocates. ...

529. 1.4 million passengers at Cyprus airports

September ended on a positive note regarding passenger traffic at Larnaka and Pafos Airports, Hermes Airports says in a press release, noting that an all-time record for the month has been set....

530. Hezbollah strikes Haifa as Israel marks one year since Hamas attack on festival

Hezbollah launched rockets at Israel's third-largest city, Haifa, early Monday, coinciding with the first anniversary of the Gaza war, which has heightened tensions across the Middle East....

531. Industrial turnover index hits 152.7 units in July 2024

In July 2024, the Industrial Turnover Index reached 152.7 units (base 2021=100), recording an increase of 6.,3% compared to July 2023, according to data published by the Statistical Service on Friday....

532. Cyprus submits commandaria for UNESCO cultural status

Cyprus has officially submitted its candidacy to register Commandaria, a historic sweet wine, on UNESCO's Intangible Cultural Heritage list, the Deputy Ministry of Culture announced....

533. EU takes Cyprus to court over tax law delays

The European Commission has referred Cyprus, along with Spain, Poland, and Portugal, to the European Court of Justice for failing to implement the 2022 directive on a global minimum level of taxation for multinational corporations and large companies (Pillar 2 directive)....

534. Olive oil and potato prices surge in Cyprus by over 50%

Olive oil and potatoes saw the largest annual price increases in September 2024, surging by 61.3% and 57.7% respectively, according to data from the Cyprus Consumer Association....

535. Inflation slows to 0.7% in September due to falling oil prices

Inflation hit a three-year low due to the fall in oil prices in September 2024, rising at a rate of 0.7%, according to data released by the Statistical Service on Thursday. The Consumer Price Index (CPI) in September 2024 increased by 0.38 units to 118.48 units compared to 118.10 units in August 2024....

536. House prices in Cyprus rise 2.5% year-on-year in Q2 2024

Τhe House Price Index for the second quarter of 2024 amounts to 112.86 units, according to preliminary estimate of the Statistical Service. Compared to the Index of the corresponding quarter of 2023, the Index increased by 2.5%. ...

537. Delays continue to hit GSP square, Nicosia’s future urban hub

According to a report by Kathimerini's Dorita Yiannakou, Nicosia residents have been eagerly awaiting the completion of the city’s largest public square and green spaces, a redevelopment of the old GSP stadium that has been delayed by over a year....

538. SPP Media Goes Pink for October

October is Breast Cancer Awareness Month, a time dedicated to raising awareness about the importance of prevention and early detection. The pink ribbon, a symbol of the cause, is a reminder of the global fight against breast cancer....

539. Cyprus Central Bank raises 2024 GDP growth forecast to 3.5%

The Central Bank of Cyprus (CBC) has revised GDP growth rate up by 0.5 percentage points for 2024, to 3.5%, compared to its forecasts last June, stressing that there does not seem to be any significant negative impact on investments from the conflict in the Middle East. ...

540. Deloitte Cyprus issues its annual Transparency Report: Fostering resilience, creating enduring value

Deloitte Cyprus issued its 13th Transparency Report covering the period from 1 June 2023 to 31 May 2024. ...