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271. GDP alert: Economic storm brewing?

Former Minister of Finance, Konstantinos Petrides, comments on the GDP results for the 2nd quarter with five observations....

272. Petrides: ''EIB denies EuroAsia funding, government's involvement a no-go''

Constantinos Petrides, the former Finance Minister, has reacted to the recent refusal of the European Investment Bank (EIB) to provide funding for the EuroAsia Interconnector electricity interconnection project....

273. MFA probes reports of RoC land sale for planned marina

The Ministry of Foreign Affairs of the Republic of Cyprus is investigating reports about the transfer of plots of land belonging to the Republic of Cyprus to the so-called Ministry of Finance in the occupied areas, following a decision of the illegal regime's cabinet to construct a marina in Varosha....

274. Italy surprises banks with 40% windfall tax

Italy's rightwing coalition sent shockwaves through the financial markets as it announced an unforeseen 40% tax on bank profits derived from higher interest rates. ...

275. Cyprus enhances migration management with new facilities

Cyprus took a significant step in enhancing its capacity to manage migration pressures by signing a contract for the construction of a reception center for around 1,000 people and a pre-departure center for approximately 800 people. ...

276. Eurobank Cyprus reports soaring profits amid rising interest rates

Eurobank Cyprus posted soaring profitability after tax for the first half of 2023 with net profits approaching the profitability of full year 2022, due to rising interest rates and the high remuneration of its liquidity held at the ECB....

277. Cyprus President's trip to Palestine

President Nikos Christodoulides travels to Ramallah, Palestine, on Wednesday, for an official visit where he will have a meeting with Palestinian President Mahmoud Abbas....

278. Controversial conference sparks fierce debate on sex ed in schools

A conference invitation circulating on social media for an upcoming event on sex education in schools has sparked reactions and criticisms. The conference, scheduled for Thursday, August 3, at the Melanos Centre in Chloraka, features titles like "We say NO to Holistic Compulsory Sex Education in Schools" and "We say NO to Laws that are contrary to the Bible and Orthodox Teaching."...

279. A long journey always begins with a small step

The many crises the EU has been facing recently should not let us forget the ongoing pain caused by the open wound of Cyprus’ division....

280. 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. ...

281. Petrides tweets expose EuroAsia Interconnector's risks

A series of points accompanied by questions were posted on Twitter by former Minister of Finance, Constantinos Petrides, commenting on the developments regarding the evaluation of the sustainability of the EuroAsia Interconnector project, the electric interconnection project between Cyprus, Greece, and Israel. ...

282. Cyprus-Oman double taxation agreement approved

The Council of Ministers approved on Wednesday an agreement for double taxation avoidance and the prevention of tax evasion regarding income taxes as well as the relevant protocol between the Republic of Cyprus and the Sultanate of Oman, Minister of Finance, Makis Keravnos said after the Cabinet meeting....

283. Varosha hotels now accepting bookings for 2025

The latest developments in Varosha have been brought to light by Yeni Bakis newspaper. ...

284. Philippos Soseilos: Significant investment opportunities in Cyprus

285. Groundwater shifts earth, raises sea 31.5in

Water has power. So much power, in fact, that pumping Earth’s groundwater can change the planet’s tilt and rotation. It can also impact sea-level rise and other consequences of climate change....

286. Pseudo-gov't pushes forward with controversial marina project in Varosha

The self-declared pseudo-government in the occupied areas has made a decision to proceed with the construction of a marina intended for private boats and tourism development in Varosha, an area belonging to the Republic of Cyprus....

287. Man fined €120,000 for abandoning kittens

A fine of 120,000 euros was imposed on a 76-year-old resident of Rhodes for abandoning four kittens inside a cardboard box....

288. EY Cyprus announces five new partners

EY Cyprus is pleased to announce that its management team has been strengthened with the addition of five new partners and five new directors in 2023, reaching the total number of 31 partners of whom 6 are women, and 17 directors of whom 8 are women....

289. 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....

290. Applications open for 'Rent in Exchange' program

"The submission of applications for the 'Rent in Exchange for Installment' program will begin in October," said Ioanna Markidou, Chief Economist A' at the Ministry of Finance, in a statement to CNA....

291. Relief for vulnerable households with non-performing loans

The ''Rent vs Instalment Scheme'' was approved by the Council of Ministers today, as announced by Government Spokesperson Konstantinos Letymbiotis following the conclusion of the Council. The European Commission's Directorate General for Competition also granted approval on July 6....

292. Loan demand in Cyprus falls, interest rates rise

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

293. Ministry of Labor to improve minimum wage policies

Cyprus currently has an outdated software system for pension fund operations. The government aims to expedite the actuarial study for the Social Insurance Fund (TKA) with the support of the International Labor Organization and the government of Austria. ...

294. 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, ...

295. 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. ...

296. Diverse music styles unite at Windcraft Music Fest

The Windcraft Music Fest opens its doors for the ninth time on the weekend of July 22nd and 23rd in Katidatata Solia and invites music lovers and those seeking an interesting festival experience to join this celebration of wind instruments and more....

297. BBC under fire for alleged payment of child for explicit photos

The British government on Sunday ordered the BBC to investigate one of its presenters, accused in the press by a mother of having paid her child to send her pornographic photos....

298. Spain: Youngsters to receive 20,000 euros upon turning 18

A universal inheritance is proposed by the Minister of Labor of Spain, Yolanda Diaz, as a means to address social inequalities. Under this framework, all young people living in Spain would receive 20,000 euros after they turn 18....

299. Eurobank's vision: Controlling Hellenic Bank and conquering new markets

According to Bloomberg, Eurobank's deputy chief executive, managing director, and head of international operations, Stavros Ioannou, expressed the bank's desire to eventually gain full control of Hellenic Bank in Cyprus....

300. Parliament approves foreclosure law

A significant mobilization by the Government and the Central Bank of Cyprus took place this week regarding the framework of foreclosures, primarily to withdraw the "problematic" proposal that, according to the state and banks, would have negative consequences for the Cypriot economy....