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241. 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)....

242. 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....

243. 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....

244. 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%. ...

245. 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....

246. 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....

247. 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. ...

248. 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. ...

249. Cyprus’ luxury resort tied to Russia’s $230M Magnitsky scandal

Cypriot police are close to completing an investigation into allegations connecting a luxury resort to one of Russia’s biggest financial scandals, the Magnitsky case, according to police officials....

250. Oil prices surge 4% after Iran fires missiles at Israel

Oil prices surged nearly 4% on Tuesday following Iran's ballistic missile attacks on Israel, launched in retaliation for Israel’s campaign against Tehran’s Hezbollah allies in Lebanon....

251. First Lady returns to Foreign Affairs duties amid allowance controversy

First Lady Philippa Karsera-Christodoulides is set to return to her position at the Ministry of Foreign Affairs following the expiration of her unpaid leave granted after her husband, Nikos Christodoulides, was elected President of the Republic. ...

252. Cyprus tourism revenue rises to €474 million in July

Tourism revenue in Cyprus grew by €19.4 million in July 2024, reaching €474.0 million, an increase of 4.3% compared to €454.6 million in July 2023, according to the results of the Passenger Survey carried out by the Statistical Service....

253. Switzerland approves border change, Italy yet to finalize

Switzerland and Italy have redrawn part of their Alpine border due to the melting of glaciers, a result of climate change....

254. Cyprus' credit rating upgraded due to strong economy and lower debt

Rating Agency Capital Intelligence Ratings (CI) has upgraded Cyprus’ Long-Term Foreign Currency Rating (LT FCR) and Short-Term FCR (ST FCR) to ‘BBB’ and ‘A2’, respectively, from ‘BBB-’ and ‘A3’, maintaining a positive outlook....

255. IDF claims significant strikes: At least 44 killed in recent attacks on Hezbollah

Israel’s military carried out dozens of strikes on Hezbollah targets early Sunday, as reports surfaced of the assassinations of two more senior Hezbollah commanders following the killing of the militant group's leader, Hassan Nasrallah, in a southern Beirut suburb....

256. Israel claims Hezbollah leader Nasrallah killed in airstrike

257. Freedom24 Reaches 300,000 Customers Milestone

We are thrilled to announce that the number of users on the innovative Freedom24 trading platform has surpassed 300,000. This significant achievement underscores our platform's technological superiority and the growing trust and confidence of our customers....

258. Electricity subsidies and zero vat on essentials to end on October 1st

The Ministry of Finance announced today that starting October 1, 2024, it will stop the staggered electricity subsidy and the zero VAT rate on basic goods. These measures were designed to help households deal with rising costs of living....

259. 127,236 people in Cyprus were at risk of poverty in 2023

Nearly 14% of people in Cyprus were at risk of poverty in 2023, according to a new report from the Statistical Service of Cyprus. This means around 127,236 individuals lived on a yearly disposable income of €11,324 or less....

260. Illegal construction raises concerns at Latchi tourist site

Authorities are grappling with a series of planning violations at a tourist complex in Latchi, Cyprus, being developed by Israeli interests....

261. Cypriots flock to Greece and Europe for October holidays

In a report by Kathimerini's Anna Polyviou, it seems that Cypriots are already planning their next leisure trips for the 1st and 28th of October, with many taking advantage of the extended weekends for short getaways abroad....

262. UK deploys 700 troops to Cyprus for potential Lebanon evacuation

The UK government has announced plans to deploy 700 troops to Cyprus in preparation for a potential evacuation of British nationals from Lebanon, amid escalating violence between Israel and Hezbollah. ...

263. Cyprus sees decline in use of online government services

In 2023, Cyprus reported that only 66% of its citizens accessed government websites for online services, according to data from Eurostat, the statistical service of the European Union....

264. UAE’s TAQA looks to invest in Cyprus-Greece electricity project

A delegation of the United Arab Emirates (UAE) state-owned company TAQA, led by its CEO, Dr. Afif Saif Saif Al Yafei, reaffirmed its strong interest in participating in the GSI Cyprus-Greece electricity interconnection project, during a meeting......

265. Yellow-eyed penguin crowned bird of the year

In a competition free from the controversies of previous years, one of the world's rarest penguins, the yellow-eyed hoiho, has been named New Zealand's Bird of the Year....

266. Building permits surge 150% in June amid major reform

Building permits issued in Cyprus saw a massive 150% jump in June 2024 compared to the same month last year, as authorities worked to clear a backlog ahead of a major reform. ...

267. Cyprus backs UN call for Israel to end occupation in Palestine

According to a report by Kathimerini's Christos Bouris, Cyprus has supported a United Nations resolution urging Israel to end its occupation of Palestinian territories within a year....

268. US military boosts forces in Alaska amid increased Russian activity

The U.S. military has deployed approximately 130 soldiers and mobile rocket launchers to Shemya Island in the Aleutian chain of western Alaska, responding to increased Russian military activity in the region. ...

269. Moody’s sees positive outlook for Hellenic Bank following Eurobank deal

Moody’s upgraded Hellenic Bank’s credit rating to Baa2 from Baa3 on Wednesday, citing the recent acquisition of a 56% stake by Eurobank S.A. The agency also revised the bank's outlook to positive. ...

270. Eurobank and India collaborate to create strategic business council

Mr. Ioannou raised concerns about whether the bank has a plan to maintain its strong profitability, which has largely come from rising interest rates......