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541. Cyprus' online legal system still facing problems after fixes

The gradual relocation of state data center servers to fully compliant and secure facilities will begin before the end of the year, according to Deputy Minister of Innovation......

542. Trade deficit slashed by 20% in 2024 amid falling imports

Cyprus saw its trade deficit shrink by over 20% in the first half of 2024, according to the latest data from the Statistical Service. The trade deficit, which is the difference between what the country imports and exports, fell to €3.57 billion, down from €4.48 billion during the same period in 2023....

543. Hezbollah threatens imminent attack on Israel

Hezbollah leader Hassan Nasrallah addressed supporters via video during a ceremony commemorating top commander Fuad Shukr, killed by an Israeli airstrike a week earlier. ...

544. Epic Double: Ookla and umlaut rank Epic once again at the top of telecommunications in Cyprus, for its Fixed Internet and Mobile Networks respectively

Epic continues to stand at the top of telecommunications in Cyprus, with two new international awards that are the culmination of its continuous investments in the development of a state-of-the-art, ultra-fast and reliable mobile and fixed internet network, offering an epic communication experience with innovative solutions, continuous evolution, and dedication to excellence....

545. Building permits surge 8.5% in early 2024

Building permits issued during the period January-May 2024 went up by 8.5%, according to data published on Wednesday by the Statistical Service....

546. Cyprus' Vasilikos gas terminal project fails after 20 years

Cyprus has faced a protracted and troubled effort to introduce natural gas to its internal market for electricity generation over the past two decades. ...

547. Famagusta to target global tourists with new campaign

548. Cyprus sees fuel price drop by 2-3 cents

Cypriot households burdened by rising living costs are getting a reprieve as fuel prices drop, with further reductions expected by the end of August....

549. €6M fund available for innovators to tackle real-world challenges

The Research and Innovation Foundation (RIF) has announced a new funding program called "Co-Develop" with a total budget of €6 million. This program aims to solve real-world problems by connecting researchers with businesses in areas such as digital technologies, advanced agriculture, health, and the environment....

550. RIF launches €6M fund to foster innovation and economic growth

The Research and Innovation Foundation (RIF) announced on Tuesday a new call for the "Co-Develop" funding programme, with a total budget of €6 million, aimed at better leveraging resources and apply innovative solutions to real problems....

551. Central Bank revises GDP growth to 3%

The Central Bank of Cyprus (CBC) made a conservative upward revision to the GDP growth rate for 2024, by 0.2 percentage points, to 3%......

552. Cypriot banks show resilience amid challenges, says CBC Governor

Despite the continuous challenges, the Cypriot banking system continues to register a positive course, which is reflected in the main supervisory indicators, Governor of the Central Bank of Cyprus (CBC), ...

553. Cyprus unemployment decreases, while social benefits paid increase

The number of unemployed persons registered at the District Labour Offices in Cyprus fell to 11,877 at the end of July 2024, marking a 9.9% decrease compared to the same period last year, according to data released by the Statistical Service on Monday....

554. FT: Global stock markets tumble amid US recession fears

Global stock markets experienced significant declines on Monday as concerns about a potential US recession led investors to abandon risky assets....

555. Cyprus non-cash payment value hits €129 billion

Non cash payments in Cyprus in the second half of 2023 rose by 12% year on year to €129 billion with total transactions amounting to 152 million marking an annual increase of 15%, the Central Bank of Cyprus (CBC) has said....

556. Cypriot and foreign investors keen on Larnaca's €30M Marina project

Transport Minister Alexis Vafeadis announced significant interest from both Cypriot and foreign investors in the development of the Larnaca marina and port....

557. Eurobank Cyprus reports €105.7M net profit for H1 2024

Eurobank Cyprus reported a net profit of €105.7 million for the first half of 2024, marking a 16% increase, or €14.9 million, compared to the same period in 2023....

558. Cyprus inflation slows in July after three months of rising costs

Inflation in Cyprus took a breather in July after three months of climbing prices. According to new figures released by the Cyprus Statistical Service, the cost of living went up by 2.1% in July. ...

559. Bank of England cuts interest rates after nearly a year of stability

The Bank of England (BoE) has cut interest rates for the first time since the start of the COVID-19 pandemic, dropping them from a 16-year high. This decision, made by a narrow 5-4 vote, reflects a split among policymakers about whether inflation is under control....

560. Larnaca Marina gets €30M upgrade, port project postponed

The government abandoned the joint development of the Larnaca port and marina, announcing on Thursday projects estimated at over €30 million to upgrade the marina and the surrounding area, heeding the suggestions of the city’s local stakeholders....

561. Cyprus sees significant uptick in new loans

In June 2024, new loans in Cyprus substantially increased, reaching €330.6 million, up from €234.9 million in May. Data from the Central Bank of Cyprus (CBC) show that total new loans, which include both new and renegotiated contracts, climbed to €514.9 million from €391.6 million the previous month....

562. Olympic medalists receive life-changing rewards from home countries

563. Cyprus government rakes in over €424M in surpluses this year

Cyprus has reported a substantial budget surplus of €424.5 million for the first half of 2024, a huge increase from the €62 million surplus during the same period last year. ...

564. McDonald's becomes unaffordable for many

McDonald's, once synonymous with affordable fast food, has seen its sales decline as many former customers find its offerings increasingly expensive....

565. Fruits and perishables made of gold

Soaring retail prices for fresh fruits and vegetables have heavily impacted both consumers and producers in recent months. ...

566. Cyprus ranks second in EU for workers unable to afford vacations

Cyprus recorded the second-largest share of workers unable to afford vacations in 2022 among EU member states, with 25% of its workforce affected, according to an analysis of Eurostat data by the European Trade Union Confederation (ETUC)....

567. Eurobank to revamp Hellenic Bank's leadership in September

Eurobank is now focusing on the next steps following the completion of its tender offer for a 100% acquisition of Hellenic Bank, finalized on Tuesday, June 30, 2024. ...

568. EU plans two-phase trade strategy if Trump wins presidency

Brussels is developing a two-phase trade strategy in response to the potential nomination of Donald Trump in the upcoming U.S. presidential election in November....

569. Lidl Cyprus celebrated the opening of its 3rd store in Paphos and 21st store in Cyprus

In a major expansion of its retail network, Lidl Cyprus opened its newest store in the Neon Mall of Pafos on Wednesday 24 July, marking the 3rd Lidl store in a row in the Paphos district and the 21st in Cyprus. ...

570. CBC enforces 11.76% cap on loan interest rates

The Central Bank of Cyprus, exercising its powers under article 314A of the Cyprus Penal Code, Cap.154, and in accordance with its provisions, determines the reference interest rate to be 11.76%....