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1201. CBC estimates GDP growth at 2.6% in 2023

The Central Bank of Cyprus (CBC) has marginally upgraded its projections for GDP growth this year citing the slightly improved prospects in the external economic environment and the anticipated lower energy prices, amid the continued war in Ukraine....

1202. Cyprus and Bahrain recommit to cooperation

The Cypriot consul in Bahrain has issued a statement about a series of meetings in Manama on bilateral cooperation, following a diplomatic incident and further steps by Nicosia to install an ambassador in the Kingdom...

1203. Slight increase in fuel prices

A slight increase in fuel prices was recorded in the last three weeks in Cyprus, according to the Consumer Protection Service (CPS) of the Ministry of Energy, Commerce and Industry. ...

1204. Many Cypriots are climate-aware and ready to fight

According to the European Investment Bank's (EIB) annual Climate Survey, 83% of Cypriots under 30 consider the environmental impact of their future job to be a significant factor in their career choice, while 25% consider it a top priority....

1205. Whistleblower jailed in Cyprus says Hunter had mole in FBI

An Israeli professor under house arrest in Cyprus has made more explosive allegations against Hunter Biden, prompting US lawmakers to investigate the first son’s alleged connections with the FBI through a mole known as 'One-Eye'...

1206. Cyprus president satisfied with early bird EU meetings

Cyprus President Nikos Christodoulides said he was satisfied from his meetings on Wednesday with Commission President Ursula von der Leyen, European Council President Charles Michel and European Parliament President Roberta Metsola, in Brussels...

1207. High prices continue to plague the market

1208. Michael Kyprianou Advocates – Legal Consultants announces opening of office in Tel Aviv

Cyprus’ leading law firm Michael Kyprianou & Co LLC announces the opening of a new international branch in Tel Aviv, Israel, further expanding the firm’s global reach....

1209. One in two Cypriots considers it easy to start a business

Approximately one in two Cypriots considers it easy to start a business in Cyprus, according to the Global Entrepreneurship Monitor (GEM) Cyprus Report 2021/2022...

1210. Saturday's blackout caused by increase in renewable energy usage

Sotos Savva, president of the Association of Scientific Power Generation AHK (SEPAIK), linked problems caused by the increased use of renewable energy sources, particularly the majority of photovoltaic panels, to Saturday's 15-minute power outage across Cyprus....

1211. 'Structural Integrity Certificates' should be made mandatory

The recent earthquakes in neighboring countries, as well as the aftershocks, felt in Cyprus, have brought to the forefront what we have been saying for years: the need to check the suitability of all our buildings on a regular basis....

1212. Italy weighs in as Cypriot fund goes after Lukoil plant

An Israeli-backed Cypriot fund’s deal to buy a Lukoil-owned refinery in Italy is hanging in the balance ahead of a Cabinet meeting in Rome possibly this week, when veto powers would be weighed against energy hub aspirations that could replace Russian gas and put the final nail in the coffin of a proposed EastMed pipeline...

1213. MEP's pass bill banning home sales or rentals without energy upgrade

All properties available for sale or rent must incur compulsory energy upgrade costs, costing tens of thousands of euros, from 2030 onward, based on what is stated in the relevant European Union directive....

1214. Petrol stations open their doors to electric mobility

Petrolina Holdings Public announced last month the installation of the first state-of-the-art electric vehicle rapid charging charger at its petrol station in Larnaca's GSZ district....

1215. EAC maintains dominant position in Cyprus' energy production market

The highest electricity market share in the EU was recorded in Cyprus (88%), reflecting the dominance of the Electricity Authority of Cyprus in the country’s energy market, Eurostat data published on Tuesday show....

1216. 'Supreme Cooperation Council': The what, how and why

The announcement of the establishment of a joint body at the highest bilateral level, which could potentially function as a "Supreme Cooperation Council" between Greece and Cyprus, is undoubtedly the most significant news to emerge from President Christodoulides' visit to Athens....

1217. HSBC buys failed Silicon Valley Bank in bid to stem fallout

Governments in the UK and the U.S. took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down....

1218. Real estate trends in 2023

Increased inflation, rising interest rates, rising building costs, rising property values, a slight decline in new development approvals, a slight decline to stabilization in the unemployment rate, a slight increase in GDP, and a slight decline in private lending are just a few indicators of the (very) general economic picture....

1219. Russians top list of property buyers in the first months of 2023

Russian nationals were by far the largest group of foreign real estate buyers in Cyprus during the first two months of 2023, according to data by the Department of Lands and Surveys,...

1220. Cypriot president 'plays safe' on first overseas trip

Cypriot President Nikos Christodoulides took a commercial flight to Athens on Sunday for his first trip overseas since taking office, with reports saying the presidential aircraft was grounded due to a minor mechanical problem...

1221. Digital app to compare product prices in the works

Following the withdrawal of the Household Basket proposal in Cyprus, the Consumer Protection Service is now promoting the preparation of a bill for the implementation of a digital tool that will enable the daily comparison of retail prices of products....

1222. Kombos rules out Turkish proposals during Athens visit

Greece will continue to fully support the effort for a just and viable solution to the Cyprus problem, Greek Foreign Minister Nikos Dendias said after a meeting he held in Athens with Cyprus Foreign Minister Costantinos Kombos. The Cypriot FM noted in the joint statements after the meeting with Dendias, that no solution that will permanently divide the country nor a two-state solution will ever be accepted....

1223. President says ‘Cyprus on right side of history’ in Ukraine

The solution of the Cyprus problem is a top priority of his administration, President Nikos Christodoulides said, in an interview with the Hellenic Broadcasting Corporation (ERT) on Thursday evening ahead of a visit he will pay Greece next week...

1224. 'Energy prices in Cyprus must decrease,' says Minister

"We want consumers to be able to open their electricity bills without fear," said newly appointed Energy Minister George Papanastasiou....

1225. It's dangerous around here

There has been a lot of discussion about the new President's selection of Michalis Hatzigiannis to fill the role of Deputy Minister of Culture, and it can be challenging to separate reasonable criticism from elitism. ...

1226. Government's fuel tax reduction scheme extended to May 4th

The President of the Republic Nikos Christodoulides has already signed the law extending the reduction of fuel taxes until May 4, 2023, following the approval of the relevant bill today, by the House Plenary....

1227. G20 talks end with no consensus on Ukraine war

Top diplomats from the Group of 20 industrialized and developing nations ended their contentious meeting in New Delhi on Thursday with no consensus on the Ukraine war, India’s foreign minister said, as discussions of the war and China’s widening global influence dominated much of the talks...

1228. Protesters want an end to EastMed pipeline project

Environmental activists gathered outside the EU Commission in Brussels on Wednesday warning that in addition to financial and geopolitical arguments against the construction of an EastMed natural gas pipeline, sabotage similar to NordStream last year was also a possible risk...

1229. Reduction of electricity costs a priority, says new Energy Minister

One of the first priorities of the new administration will be to reduce the cost of electricity, in order to help the industry and the economy reach the potential “they deserve”, new Minister of Energy, Commerce and Industry Giorgos Papanastasiou said on Wednesday....

1230. Political storm brewing in Cyprus over Biden whistleblower

An Israeli professor facing US extradition in Cyprus, where he is currently under house arrest, is calling on his native country to 'rescue' him from Biden, giving rise to speculation that his court case in Larnaca could become a hot potato for the island’s new government that maintains strong ties with both Tel Aviv and Washington...