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1171. €5,600 in funding for tourism enterprises

In celebration of World Tourism Day, the Cyprus Chamber of Commerce and Industry reaffirms its commitment to supporting Cypriot tourism businesses on their journey toward sustainability. ...

1172. CBC Governor Herodotou reveals breakthrough in digital finance

The Central Bank of Cyprus has completed the tender for a new digital platform for customer compliance, said CBC Governor Constantinos Herodotou, speaking at an event organized by the Association of Cyprus Electronic Money and Payment Institutions, on Thursday afternoon....

1173. Cyprus aids Lebanon to tackle migration flows

Cyprus has taken robust measures to address the escalating migration flows from the east, particularly from Lebanon, in close collaboration with its neighbor....

1174. Negotiations on Cyprus EEZ and Chevron continue amid disagreements

Two days of negotiations regarding the development plan (FDP) for block "12" ("Aphrodite") within the Cypriot Exclusive Economic Zone (EEZ) have concluded in Nicosia. These discussions involved the Ministry of Energy and senior officials from the consortium responsible for its management, which includes Chevron, Shell, and NewMed Energy....

1175. From fines to fine lines

The face of the honorable Minister of Transport, Alexis Vafeadi, conveyed a different message compared to his statements before the Parliament's Transportation Committee....

1176. Apartments rule, but prices vary by province

According to Mr. Loizou of Ask Wire, the majority of Cyprus' population resides in apartments. Therefore, it comes as no surprise that among young buyers, typically around 30 years old, the most sought-after housing option is an apartment, particularly a two-bedroom one, whether for purchase or rent. However, the question arises: How do housing prices vary across different provinces?...

1177. Hellenic Bank cuts fees for customers

Hellenic Bank is taking steps to enhance its services and support its customers. Mr. Phoebus Stasopoulos, the Senior Banking Manager of Hellenic Bank, announced the expansion of the limit for free SEPA transfers through Online Banking....

1178. War in Ukraine nears potential 'dirty deal' conclusion

Thomas Friedman, American political commentator, author and weekly columnist for The New York Times, tells Kathimerini that the ongoing war in Ukraine will probably be resolved with “a dirty deal” that will include the loss of a part of eastern Ukraine in exchange for Kyiv’s accession to NATO and the European Union....

1179. President Biden stands with striking autoworkers demanding 40% pay raise

President Joe Biden on Tuesday joined a picket line with striking autoworkers in Michigan, supporting their call for a 40% pay raise and saying they deserve a "lot more" than they are getting....

1180. Keravnos expects more from banks to boost Cyprus economy

The Cyprus economy has proven its resilience in recent years, Finance Minister Makis Keravnos said Tuesday at the 4th Conference "Banking System: New Challenges and Opportunities", that takes place in Nicosia, noting that there are still challenges that the banking sector must address....

1181. CBC lowers GDP growth projections for 2023 and 2024

The Central Bank of Cyprus has revised its growth projections for 2023 and 2024. They now expect GDP growth to be 2.4% in 2023 and 2.7% in 2024, down from their previous forecasts of 2.6% and 2.8%. This is due to Western sanctions against Russia and the fragile external environment affecting professional and non-tourism services....

1182. E-kalathi: Cost of basket per province

A few hours before tomorrow's session of the House Trade Committee, during which the bill on the e-kalathi digital tool will be discussed again, The Consumer Protection Agency conducted a price survey for 51 products in 5 supermarkets per province and presents indicatively the information and options that the consumer could have had today if he had the specific electronic application at his disposal....

1183. SYPRODAT and Government join forces to end non-performing loans

Finance Minister Makis Keravnos expressed satisfaction with the progress made in divestments and the reduction of non-performing loans (NPLs) during a meeting at the Ministry of Finance with SYPRODAT President Costas Melas and Association Director Jenny Papacharalambous....

1184. Nicosia and Limassol explore tram systems

Environment Commissioner Maria Panayiotou, alongside Nicosia's Mayor Konstantinos Giorkatzis, emphasized the necessity of commencing a comprehensive study for the introduction of tram systems in Nicosia and Limassol....

1185. Christodoulides meets Guterres in New York

Cyprus President, Nikos Christodoulides, meets on Friday in New York with the UN Secretary General, Antonio Guterres. ...

1186. €369 million EIB loan for smart investments

The government has secured a €369 million loan from the European Investment Bank (EIB) with favorable terms to support expenditures and investments within the framework of the "Thalia" program. ...

1187. 43 undeclared workers uncovered in hotel raids

In July, the Ministry of Labor and Social Insurance's Inspection Service conducted targeted inspections at hotels across Cyprus, revealing 43 undeclared workers. This resulted in 20 Violation Notices and 19 Imposition of Fines, totaling €49,000....

1188. Focus on growth, employment control, and surplus in the 2024 budget

The 2024 state budget to be tabled to the Council of Ministers for approval next week will have three key characteristics, Minister of Finance Makis Keravnos told CNA....

1189. Cyprus and Chevron unite for Aphrodite gas field

The Cyprus government and Chevron International reaffirmed on Wednesday that the development of Aphrodite gas field, located in the country's Exclusive Economic Zone (EEZ), is of "strategic importance."...

1190. Consulco’s London Credit Fund; Existing & New Investment Opportunities

1191. Liquidity cover hits 318% in banking

Konstantinos Herodotou, the Governor of the Central Bank of Cyprus, delivered a robust message at the TechIsland conference in Limassol....

1192. Erdogan and Netanyahu forge meeting at UN General Assembly

In a historic turn of events, Turkish President Tayyip Erdogan and Israeli Prime Minister Benjamin Netanyahu met in person for the first time on Tuesday, marking a crucial milestone in the ongoing effort to mend strained relations between the two nations....

1193. Borrowers in a high-stakes game of loan roulette

In 2023, borrowers face a pivotal year, primarily due to the soaring levels of inflation, rising prices, and increasing interest rates. This year also carries significant importance for banks, not in terms of profits, ...

1194. Erdogan calls for global recognition of 'TRNC' in defiant UN speech

In his address to the UN General Assembly, the Turkish President expressed doubts about the feasibility of a solution on the island based on the federal model, despite the sincere efforts put forth by the Turkish Cypriot side....

1195. TechIsland's workshop marks Cyprus's tech hub aspiration

TechIsland’s 'Building Tech Islands' Workshop: A Milestone in Cyprus’s Quest to Attract Global Tech Giants...

1196. EY achieves record global revenue of nearly $50 billion

EY reports record global revenue results of just under US$50b...

1197. Ukraine sparks trade war with legal action over food bans

Ukraine has filed lawsuits to the World Trade Organization (WTO) against Slovakia, Poland and Hungary over their bans on food imports from Kyiv. ...

1198. The missing piece in Greek-Turkish diplomacy

The public discourse has been flooded with commentaries in favor or against the ongoing efforts for a Greek-Turkish rapprochement....

1199. Why did Brussels ignore Cyprus? Questions arise over EU inaction

Commission President Ursula von der Leyen delivered a comprehensive 16-page speech on the "state of the Union" before the European Parliament, speaking for an hour....

1200. 135% debt reduction sparks hope for economy

According to the latest data from the Central Bank of Cyprus, the private debt-to-GDP ratio has shown a significant decrease from its peak at the end of the first quarter in 2015 to the end of March 2023. ...