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1201. Insurance premiums expected to rise slightly

Inflation-related losses are also occurring for general insurance policies. Cyprus' insurance policies will specifically follow the broad pattern of other nations and other international insurance companies,...

1202. France first country to ban short haul flights

France has been given the green light to ban short-haul domestic flights. Specifically, between locations where there is a train alternative that takes less than 2.5 hours....

1203. Germany needs 400,000 employees annually to cover labor demands

Due to Germany’s aging population which results in a lack of qualified workers, the country’s labor market is at risk, with authorities left to count on target migration as a solution for the situation. ...

1204. Indonesia: Unmarried couples could face jail time for having sex

The Indonesian parliament has unanimously approved strict new laws that will criminalize sex outside of marriage....

1205. Minister says efforts to promote Cypriot wine bear fruit

Energy Minister Natasa Pilides, who also oversees Commerce, said Wednesday that the first National Action Plan to promote Cypriot wine seem to be bearing fruit, as exports of wines in 2021 saw a rapid increase over 60%...

1206. Hellenic Bank soon to be under the control of Eurobank

Eurobank is gaining control of Hellenic Bank after purchasing Wargaming's 13.4% stake. With the addition of the 12.6% it held from the purchase of all shares in Third Point Hellenic Recovery Fund in the summer of 2021, it now stands at 26%....

1207. Over half a billion euro in government surplus so far this year

Preliminary General Government fiscal results indicate a surplus of €556.4 mn for the period of January-October 2022, according to data prepared and published by the Statistical Service of Cyprus on Wednesday....

1208. Teacher on trial for touching girls inappropriately

A male teacher at a junior high school in Limassol will be arraigned next month on dozens of charges following accusations from nine girls who say the educator was touching female students inappropriately during class...

1209. Government owed €16.2m from ineligible first time home buyers

More than 270 people who benefited from the reduced rate of 5% VAT for first-time home buyers, have been found to be ineligible, following checks carried out throughout Cyprus by the Tax Department, and should be charged 19% VAT, totaling €16.2 million announced on Wednesday the Minister of Finance, Constantinos Petrides, after the Council of Ministers. He also announced on-site checks on other categories of taxpayers and types of taxes....

1210. When the ink dries, this will be the new archaeological museum

1211. €76.4m profit in first 9 months of 2022 for Hellenic

Hellenic Bank announced a profit of €76.4 million for the first 9 months of 2022. According to the Group Financial Results for the nine-month period, ...

1212. At least 400 migrant workers died in projects connected to the World Cup

World Cup chief Hassan Al-Thawadi said that between 400 and 500 migrant workers have died as a result of work done on projects connected to the tournament – a greater figure than Qatari officials have cited previously....

1213. Kasoulides: Cyprus solution a 'win-win' if there is political will

The solution to the Cyprus problem could be a win-win situation for all stakeholders, Foreign Minister Ioannis Kasoulides has said, adding that there is a great possibility for this provided that there is political will....

1214. More Russians visiting Spain despite EU sanctions

The number of Russian nationals who are reaching Spain for travel purposes keeps increasing despite flight sanctions continuing to remain in place....

1215. Procedures, criminal offender profiles, and the law governing child abuse

The recent news has been overshadowed by new complaints from schoolgirls in Cyprus alleging that their headmaster has harassed them sexually, while in Greece the Aeolus box is opening due to revelations about the "Ark of the World" foundation....

1216. Cypriot MEP gets terrorist sticker after Russia vote

Terrorist stickers slapped on doors outside the offices of EU lawmakers who voted against declaring Russia a 'state sponsor of terrorism' prompted Cypriot MEP Niyazi Kizilyurek, who was among those targeted, to argue on Twitter that punishing an entire nation could only escalate the crisis...

1217. Bank's chairman buys BOC shares for 3 consecutive days

1218. 14 billion euros of loans on ice due to the suspension of foreclosure sales

In Cyprus, credit purchasing companies manage over 80,000 loans totaling €20 billion....

1219. More routes and airline seats for the winter

The announcements by Ryanair in the morning and Wizz Air on Monday afternoon to increase the fleet at Cypriot airports and add new routes clearly pleased Hermes Airports and the tourism industry in general,...

1220. The consequences of continuing foreclosure suspensions

Lambros Papadopoulos, President of the state-owned asset management company, KEDIPES, warned on Tuesday that the continued suspension of foreclosures will negatively affect the company’s revenue from non-performing loans (NPLs) management resulting in a reduced repayment of state aid....

1221. Europe rushes to stock up on Russian diesel before ban starts

European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in February, as alternative sources remain limited....

1222. Cypriot registered ships decrease by 21% due to sanctions

A large number of tankers that previously sailed under European Union flags, such as Cyprus and Malta’s, are leaving those registers as a result of the sanctions on Russian oil transportation....

1223. Supreme Court in Cyprus overturns rape convictions

Two young males who were convicted on rape charges after having sex with a drunk high school student in a hotel room were acquitted last week when the Supreme Court found the girl’s testimony was weak and the defendants did not receive a fair trial...

1224. Ryanair adds five new destinations and a fourth aircraft to its fleet in Cyprus

Ryanair has announced its busiest summer schedule in Cyprus, with 41 routes from Paphos to destinations including Naples and Toulouse....

1225. Shocking! No resolution on the Cyprus issue

Was it unfair that Miroslav Jenca, the UN Assistant Secretary-General for Europe, Central Asia, and the Americas, met with President Anastasiades and TC leader Ersin Tatar?...

1226. Immerse yourself in a Christmas wonderland

There is a little over a month left until Christmas, which means that now is the perfect time to book a trip for anyone who is planning to reach another country, especially a European country....

1227. US regulators say lab-grown chicken is safe to eat

A meat product grown in a lab has been cleared for human consumption for the first time....

1228. BOC: Profits for first nine months gobbled up by Voluntary Retirement Plan

The bank reported 9 million euro losses following the summer departure of 550 employees, which cost it 104 million....

1229. Weekly COVID update: 8 deaths and 3,736 new cases

Cyprus Health Ministry announced on Friday that between 11 – 17 November 8 deaths were reported due to COVID 19 and 3,736 new cases were detected. The positivity rate is at 5.28%....

1230. EY Cyprus presents the Transparency Report 2022

ΕΥ Cyprus has released its Transparency Report 2022, which provides an update on the firm’s efforts to execute high-quality audits, identify and mitigate risks and enhance trust in business and the capital markets, in support of sustainable, long-term value creation. ...