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1141. Government joins elite with third plea for €152.3M

Acting Permanent Secretary of DG Growth at the Finance Ministry, Andreas Zachariades, said on Thursday that as of Friday, Cyprus will be among the first ten EU member states that have submitted the third payment request from the Recovery and Resilience Mechanism of the EU....

1142. Interior Minister considers plan with IOM to boost international workforce

Interior Minister Constantinos Ioannou has conveyed to IOM (International Organization for Migration) Director General Amy Pope Cyprus' willingness to look into implementing a pilot programme to attract labour force from third countries....

1143. European data shows low interest payouts by Cypriot banks

Cypriot banks rank second to last among European banks in terms of paying interest on total household deposits, according to data released on Wednesday by the European Banking Authority (EBA), as part of its annual risk assessment of the European banking system....

1144. One to three-star hotels dominate Greece’s accommodations

Three in four Greek hotels belong in lower categories of one to three stars, representing 50% of the country’s total capacity in terms of rooms, according to data from the Institute of Tourism Research and Forecasts (ITEP) of the Hellenic Chamber of Hotels....

1145. Non-performing loans take a €95M dive

As of the end of September 2023, the total Non-Performing Loans (NPLs) in the banking system of Cyprus further decreased to €2.02 billion compared to €2.08 billion at the end of August. ...

1146. Chinese elite move billions abroad in economic shift

In a remarkable shift this year, affluent Chinese have moved hundreds of billions of dollars out of the country, capitalizing on the end of COVID precautions that had tightly sealed China's borders for nearly three years....

1147. BOC to revitalize former Orphanides building by 2026

Thoughts from the past year and a half are taking concrete form for the Bank of Cyprus, particularly concerning its plans for the creation of a new central headquarters (BOC Headquarters - Q H)....

1148. Deloitte Cyprus CEO on 65 years, challenges, and future strategies

Deloitte Cyprus celebrates 65 years of presence on the island, playing a major role in the financial affairs of the state....

1149. State employees brace for 25-30M euro salary squeeze

The agreement signed with unions PASYDYS and SEK is set to bring an annual cost of 25-30 million euros, impacting state employees and those in the wider public sector....

1150. Ministry reverts VAT refund amount to €50

The Ministry of Finance's new circular set to change in 2024, altering the decision that foresaw an increase in the minimum expenditure from €50 to €175. ...

1151. Makarios Avenue struggles to fulfill commercial expectations

Two years after the official opening of Makarios Avenue (8 December 2021), the commercial success of the street has fallen short of expectations,...

1152. The overtime dilemma – George Vassiliou's proposal

Only a young John Kapodistrias, with his wit and cunning, can rescue this troubled land from the folly of officials and citizens....

1153. Billionaires choose Abu Dhabi as global wealth safe haven

In a surprising trend, billionaires including Zhao Changpeng, the Adani family, Ray Dalio, and Vladimir Lisin are flocking to Abu Dhabi's international financial center, establishing special purpose vehicles (SPVs) to safeguard their fortunes....

1154. Farmers rally at Presidential Palace over subsidies

In a dramatic turn of events today, potato and wheat farmers engaged in clashes with the police during their protest outside the Presidential Palace....

1155. Stephanis leads the charge in €17.7M commercial venture

Alexandros Stephanis & Co Ltd is making waves in the real estate scene with a visionary €17.7 million mixed commercial and residential development....

1156. Controversy erupts as schools implement voucher scanning systems for needy students

The decision by certain schools to install systems for scanning vouchers of needy students, enabling them to receive their food, has sparked strong reactions....

1157. Surge in bounced checks worth €1.6 million in 2023

1158. Urgent measures taken after a series of fires on buses

According to the commitment of the Ministry of Transport and the owners of the 570 immobilized buses, a return to normality is expected early this week....

1159. Cypriot bonds hold firm at €6.75 billion amid ECB moves

As of the end of November, data from the Cypriot Central Bank reveals that the Eurosystem maintained its holdings of Cypriot bonds valued at €6.75 billion...

1160. Cyprus economy receives positive rating boost

Fitch, the International Rating Agency, upgraded Cyprus' long-term rating to positive, citing economic resilience and fiscal strength. The agency affirmed the 'BBB' rating, previously upgraded in March 2023. ...

1161. Employers positive on minimum wage adjustment

Employers express positivity towards a potential partial adjustment of the minimum wage in discussions led by OEB's General Director, Michalis Antoniou....

1162. Erdogan and Mitsotakis sign Landmark Friendship Declaration

Turkish President Tayyip Erdogan's arrival in Athens signals a pivotal moment in the longstanding tension between Greece and Turkey....

1163. How locals can mitigate the risks of Cyprus' new citizenship rules to attract tech talent

Cyprus's recent initiative to boost its technology sector by offering tax breaks and fast-track naturalization to third-party nationals is a strategic move that could significantly reshape its economy and society....

1164. 15.7% spike in building permit values

Despite the drop of total number of building permits during the first nine months of 2023, compared to the same period of 2022, their total value recorded an increase of 15.7%, and their volume went up by 2.9%....

1165. Erdogan: ''My friend Kyriakos, we will not threaten you if you do not threaten us''

Turkish President Recep Tayyip Erdogan talks about all issues concerning Greek-Turkish relations in an exclusive interview with K, twenty-four hours before he arrives in Athens, stressing that he is looking forward to "a new page" based on the ''win-win principle''....

1166. 'Ktrends' survey reveals public dissatisfaction with Cyprus government

In a recent economic survey conducted by ''Kathimerini,'' the fifth wave of ''Ktrends'' highlights notable trends in economic, household, and market dynamics for October 2023. ...

1167. Cyprus records remarkable 6.7% jump in industrial index

The latest data from the Industrial Turnover Index for September 2023 show an annual increase of 0.6%, reaching 206.6 units (base 2015=100), compared to the figures recorded in September 2022....

1168. Critical battle looms as Parliament debates foreclosure legislation

Background consultations are in progress to prepare amendments to the legislative package on divestments, set for submission to the Parliament Plenary on Friday for a vote....

1169. Cyprus Airways connects the Island to the heart of Europe

Cyprus Airways announced today that it will be commencing twice weekly services, every Monday and Thursday, between Larnaca and Brussels International Airport, on the 5th of February. These will be increased to three weekly flights as from Summer 2024....

1170. Foreclosure showdown escalates with parliament vote

The Greek government is set to present legislation in Parliament this Friday addressing borrower protection in relation to foreclosures....