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241. EU extends sanctions on Turkey for East Med drilling

In a press release on Thursday, the Council of the European Union announced the renewal of restrictive measures against Turkey for unauthorized drilling activities in the Eastern Mediterranean....

242. Greek Government's €85.4M move shakes Aegean Airlines

Aegean Airlines on Monday announced that the Hellenic Republic submitted notification of its intention to exercise the rights granted by all the warrants it holds concerning the company’s shares on November 3, 2023....

243. Schools kickstart A/C installations in major upgrade

The installation of air conditioners in schools is beginning, as announced by Government Spokesman Konstantinos Letibiotis during a regular journalist briefing. ...

244. Crypto 'wonder boy' Sam Bankman-Fried convicted in $8 billion fraud

Sam Bankman-Fried, the former billionaire founder of FTX, a prominent cryptocurrency exchange, was found guilty on Thursday of orchestrating one of the most significant financial frauds in history....

245. The Queen is naked

The fairy tale of Hans Christian Andersen about the king who believed he was wearing splendid clothes while, in reality, he was naked, seems to be a fitting analogy for the situation of the European Union and its external policy....

246. Ministry secures €245 million boost for business growth in 2027

A total of €245 million has been secured by the Ministry of Energy, Commerce and Industry for the new programming period up to 2027, which will be made available to businesses through targeted grant plans with an emphasis on absorbing and utilising as many resources as possible from European Funds, including the Recovery and Resilience Fund, Energy Minister George Papanastasiou said on Friday, speaking at the General Electoral Assembly of the Paphos Chamber of Commerce and Industry....

247. Canadian soldiers in Cyprus await call for Lebanon evacuation

On a sunny Thursday in Cyprus, holidaymakers relaxed on beach chairs, while a small group of people in Canadian uniform sat inside a nearby hotel meeting room, staring into screens. ...

248. CMP receives €75,000 donation from Turkish Cypriots

The Committee on Missing Persons in Cyprus (CMP) received a donation of €75,000 from the Turkish Cypriot community on October 18....

249. €3.93 billion windfall from EU on the horizon

The funds absorbed by Cyprus from European funds have exceeded the amount of Cyprus's contributions to the EU, said member of the EU Court of Auditors, Lefteris Christoforou, presenting the annual report of the Court for 2022 to President of the House of Representatives Annita Demetriou on Thursday....

250. Netherlands tops global pension rankings with AI-driven excellence

A new analysis, ranking 47 pension systems across the world, has shed light on the growing impact of AI on pension systems....

251. Papadakis faces allegations of misusing European Parliament's funds

After the release of an audio recording featuring a discussion between the EDEK party president, Marinos Sizopoulos, and MEP Dimitris Papadakis, EDEK issued an official statement....

252. Suspense builds as foreclosure deadline nears, and creditors seek solutions

Cyprus is nearing the end of the suspension of divestments of primary residences worth up to 350 thousand euros, but a solution remains elusive regarding open funds tied to the divestment framework. ...

253. Investment funds hit record high at €2.9 billion

Assets investment by investment funds in Cyprus rose to €2.9 billion in the second quarter of this year, reaching the highest point ever, manifesting the sector’s growing contribution to the Cypriot economy....

254. Ireland's tax policies fill sovereign fund coffers

Countries like Saudi Arabia, Norway, and Chile have long established their own sovereign-wealth funds....

255. France urges de-escalation amid Israeli strikes on Lebanon

The ongoing conflict between Israel and Hamas has drawn global attention as the death toll rises, with over 1,000 Palestinians and 1,200 Israelis reported dead. Calls for peace have intensified amid the escalating violence....

256. How blockchain technology is reshaping financing

In this age of technology, digital transformation, and the omnipresence of the internet, alternative digital financing is emerging as an innovative and effective solution for both businesses and individuals in need of financial support....

257. Moody's double upgrade ignites investor interest

Last Friday, Moody's delivered a double upgrade for Cyprus, propelling the nation into the investment-grade category recognized by all four major financial firms. Although these rankings may appear modest, their real-world impact is substantial....

258. 15.4% spike in public expenditure for 2024

In the 2024 Budget, there's a notable rise of EUR 0.5 billion in public personnel expenditure. According to the Council of Ministers' approved budget table for 2024, this marks a substantial increase of 496 million euros. In terms of percentages, this surge amounts to 15.4% compared to the personnel expenditure allocated for the public sector in 2023....

259. CBC Governor Herodotou reveals breakthrough in digital finance

The Central Bank of Cyprus has completed the tender for a new digital platform for customer compliance, said CBC Governor Constantinos Herodotou, speaking at an event organized by the Association of Cyprus Electronic Money and Payment Institutions, on Thursday afternoon....

260. Bank of Cyprus woos investors at London conference

Last week, the Bank of Cyprus launched a series of engagements with investors, with a particular focus on attracting new stakeholders. This initiative took place during the BofA Merrill Lynch conference, notably at the Annual Financials CEO Conference held in London from last Tuesday to Thursday. ...

261. Sepaga EMI named one of the top 20 great places to work in Europe

Nicosia, Cyprus – 26/9/2023 – Sepaga EMI, a leading fully licensed and regulated Electronic Money Institution by the Central Bank of Cyprus (License No. 115.1.3.18/2018) since 2017 takes pride in providing its clients with exceptional financial solutions for managing their funds and global payments....

262. First Lady's assistant denied extra pay

A majority of the members of the Parliamentary Finance Committee approved the release of funds requested by the Presidency for salary payments, but the Committee unanimously rejected a separate request concerning overtime compensation for an employee temporarily assigned to the Presidency....

263. Cyprus' 'Photovoltaics for All' cuts electricity costs by 50%

In a bold move to expedite the transition to green energy, the Ministry of Energy is gearing up to unveil a groundbreaking solar energy production initiative that promises to reshape the balance between conventional and green energy sources....

264. €369 million EIB loan for smart investments

The government has secured a €369 million loan from the European Investment Bank (EIB) with favorable terms to support expenditures and investments within the framework of the "Thalia" program. ...

265. 153 government employees face overtime probe

After the issue of overtime pay arose with Deputy Government Spokesperson Doxa Komodromou, all Presidential staff will come under the scrutiny of the Audit Service, including relatives and friends of the presidential couple, as reported by Philenews. ...

266. Consulco’s London Credit Fund; Existing & New Investment Opportunities

267. Global investment giants converge in Cyprus for IIFA 2023

The 36th annual international conference of the International Investment Funds Association (IIFA), will take place in Cyprus, for the first time, on October 23-25. ...

268. US plane brings captives back home

The plane carrying five American citizens freed as part of a deal between the U.S. and Iran have now landed back home in the United States....

269. How University of Cyprus handles overtime pay

The University of Cyprus, led by its rector, Tassos Christofides, acknowledged that overtime was paid to Doxa Komodromou....

270. Italy's cry for help: Facing a migrant surge amid EU discord

Italian Prime Minister Giorgia Meloni has appealed for greater European support as her country confronts a surge of people fleeing north Africa, amid growing tensions between Rome and other EU capitals over migration policy....