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1111. NPL crisis highlights tug of war between borrowers and legislation

The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...

1112. EuroAsia Interconnector secures record-breaking contract

Paris-based Nexans will undertake the construction and installation of the High Voltage Direct Current (HVDC) Cable Systems, marking a significant milestone in the EuroAsia Interconnector project. ...

1113. Erdogan's diplomatic efforts in Gulf region

CONSTANTINOPLE - REPORT: With the aim of attracting capital worth 50 billion dollars, Recep Tayyip Erdoğan embarked on a tour of Gulf countries. ...

1114. The 24-hour solution to plastic waste

Researchers at The University of Texas in Austin discovered an enzyme that eats plastic fast, and scientists think it could revolutionize how we deal with waste....

1115. Construction materials up by 5.78%

An annual increase of 5.78% was recorded in the Price Index of Construction Materials for the period January-June 2023, compared to the same period in 2022, according to data published by the Cyprus Statistical Service on Tuesday....

1116. Tourism to drop by 10% in the Mediterranean

According to tourism agencies and experts, the high summer temperatures in Southern Europe could permanently change tourist habits, with more travelers choosing more relaxed destinations or taking their vacations in spring or autumn to avoid excessive heat. ...

1117. Banking on success: Greek and Cypriot banks show remarkable credit improvement

Fitch Ratings released a new report on Monday stating that the credit profiles of Greek and Cypriot banks have significantly improved over the past year due to de-risking and restructuring....

1118. Gasoline trade in divided Cyprus

The issue of gasoline from the occupied territories is one of the most well-known psychodramas of Cyprus. It is a distortion of the market due to the country's division and the occupation of part of it by another country. ...

1119. Digital ''One-Stop-Shop'' to access renewable energy projects in 2024

The Ministry of Energy, Commerce, and Industry announced on Monday the launch of the online "Digital One Stop Shop" platform, an action of the Recovery and Resilience Plan "Cyprus - Tomorrow", which, in the first phase, concerns the digital submission of applications for the licensing of renewable energy projects....

1120. President and FM to join EU-CELAC meeting

Cyprus' President Nikos Christodoulides is set to participate in the Summit of the European Union and the Community of Latin American and Caribbean States (CELAC) in Brussels on July 17 and 18....

1121. Philippos Soseilos: Significant investment opportunities in Cyprus

1122. UN and EU push for Cyprus Problem breakthrough

The United Nations and the European Union are making efforts to break the current deadlock in the Cyprus problem, recognizing the significant role of Turkey. Diplomatic sources have revealed that Turkish President Recep Tayyip Erdogan appears open to resuming the negotiating process....

1123. Cyprus Parliament rejects bills on borrowers' rights

The Cyprus Parliament voted against two non-government bills regarding borrowers' rights on Thursday, disregarding warnings from the government and the Central Bank about potential threats to the stability of the financial sector....

1124. Cyprus approves €361M supplementary budget for 2023

With criticism against the government's agreement for the purchase of the Metropolitan building, which will house the Ministry of Labor and Social Insurance, the Plenary of the House of Representatives approved the supplementary state budget amounting to €361 million....

1125. Cyprus surpasses 40,000 solar installations

The Electricity Authority of Cyprus has taken actions to reduce the waiting time for the inspection of photovoltaic systems after installation....

1126. Moment of truth: Critical juncture for Cyprus

The shift attempted by Turkish President Erdogan, with a backdrop of Turkey's relations with the US, the European Union, and Athens, seems to indicate a significant change in paradigm. ...

1127. Energy savings: 1.3% to 1.9% by 2030

MEPs approved today's plans, already agreed with the Council, that set new energy-saving targets for 2030, as part of the European Green Deal....

1128. Housing sales slow due to inflation and construction costs

The value of transactions in the real estate sector amounted to €1.52 billion in the second half of the year, with the market bearing the impact of the interest hikes, inflation and the increased construction cost....

1129. Loan demand in Cyprus falls, interest rates rise

The Cypriot banking institutions are holding a small basket for demand in new loans....

1130. Proposed foreclosure reforms spark debate in Cyprus

Three proposals will be discussed at the last Plenary Session of the House of Representatives before the summer recess, along with three scenarios regarding the outcome of the foreclosure framework....

1131. Major banks hit by large-scale cyberattack

The banks Deutsche Bank, Commerzbank, and ING are among the dozens of companies that have suffered a large-scale cyberattack....

1132. Europe's first multi-themed resort opens in Limassol

The inauguration of the City of Dreams Mediterranean in Limassol on Monday marks a significant milestone for tourism in Cyprus, introducing the continent's first multi-theme resort....

1133. US senator supports Greece's role in deterring Russia

"If the administration chooses to override the F-16 veto, I will oppose it and there will be consequences," Senator and Chairman of the US Senate Foreign Relations Committee Robert Menendez told reporters on the sidelines of the Eastern Mediterranean Business Summit in New York....

1134. Cyprus among countries with lowest food deprivation rates

Out of people that were at risk of poverty in Cyprus in 2022, 5.6% were unable to afford a meal containing meat, fish, or a vegetarian equivalent every second day (19.7% in the EU), which was an increase compared to the last year, according to data released by Eurostat, the statistical service of the EU....

1135. Vehicle registrations soar by 24.4% in first half of 2023

A significant increase of 24.4% was recorded in vehicle registrations in the first half of 2023, compared to the same period in 2022, while an increase of 22.4% was recorded in June 2023, compared to the same month last year....

1136. Cypriot economy on the brink, says Finance Minister

During his address to the House of Representatives and following his presentation to the Parliamentary Finance Committee on the government's comprehensive package of seven measures for addressing foreclosure issues, ...

1137. Contentious foreclosure legislation sparks debate in Parliament

The issue of foreclosures remains unresolved and will be the focal point of the upcoming plenary session on Thursday, July 13. ...

1138. Inflation drops, but food prices soar

According to Marios Droussiotis, the president of the Cyprus Consumers Association, inflation is decreasing, but food prices remain excessively high. In an interview with K, he explained that although the overall inflation rate in Cyprus is 1.9%, the prices of food items have increased by 9.8%....

1139. Revitalizing democracy: George Pamboridis launches new political platform

George Pamboridis is taking strides towards establishing a political platform, an interactive workshop for political reform, in collaboration with others....

1140. Cyprus gov't to pay €345,000 to Turkish Cypriot for illegal use of property

The big news: "Compensation of €345,000 will be paid to a T/C of American origin by the Republic of Cyprus, while also returning his property in Limassol, which was being used illegally....