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1261. ECB raises interest rates by 0.75%.

The European Central Bank recently decided to raise interest rates by 0.75%. This is the third consecutive increase (a 2% increase overall), and the base rate will now be 2%. The interest rate at which banks accept deposits has risen from 0.75% to 1.5%....

1262. Slight decrease of tourist beds in the EU in 2021, Cyprus remained stable

According to data released by Eurostat, the EU's statistical service, the number of guest rooms in tourist accommodations across the EU decreased slightly in 2021 compared to 2019 but remained stable compared to 2020....

1263. More people continue to seek asylum in the EU

A total of 66,545 first-time asylum applications for international protections were filed by non-EU citizens in the European states in July – 265 more than in the previous months, scoring an increase of 0.4 percent....

1264. Bank deposits climb to a nine-year high

Deposits in the Cypriot banking system climbed to a nine-year high in September, while total loans continued their downward path, declining in a five-month low, boosting liquidity in the system to over €23 billion....

1265. Young man gets 16 years in Ayia Napa rapes

A young man will spend the next 16 years in prison after a criminal court found him guilty of raping three women in Ayia Napa just before summer 2022...

1266. Cyprus received €461 million euros in EU funding since accession, used 80%

Cyprus has received a net €461 million since joining the EU, according to Lazarou, and has used 80% of the European funds it received....

1267. Workplace accidents decreased in 2020, but severity of nearly 50% not specified

In 2020, almost 2.7 million non-fatal work accidents resulted in workers being absent from work for four days or more in the EU, while 3,355 work-related accidents were fatal, according to data released by Eurostat, the European Union’s statistical service....

1268. Steele dossier acquittal highlights missing link in Cyprus

A Russian analyst was acquitted this week of accusations he provided false information that triggered an FBI probe against Trump, but a major takeaway from the trial pointed to Cyprus being a missing link in the investigation after insufficient evidence about an alleged source of the infamous Steele Dossier was not properly vetted...

1269. Lesser charges in cottage murders after plea bargain

The trial in the deaths of two Russian women feared to have been possible victims of sex trafficking in Cyprus ended abruptly this week, with the defense cutting a deal with prosecutors who pursued manslaughter after reports suggested the murder motive would not hold up in court...

1270. Porsche 911 GT3 RS completes the ‘ring in 6:49.328 minutes

1271. Flood watches continue back-to-back in Cyprus

A new weather alert went into effect on Monday evening, extending a previous warning as heavy rains have been pounding the island almost non-stop in many areas...

1272. Are milk, meat and coffee still affordable?

According to the Consumer Protection Service's Price Observatory, price increases of up to 21% and price decreases of up to 13% were observed between September 14 and October 12....

1273. COVID: Almost 2800 cases reported since last Friday the 7th of October

Cyprus announced two deaths due to COVID-19 with 2,759 new cases detected from 7-13 October....

1274. Average employee gross earnings up 3.2% in 2021

The average gross monthly earnings of employees for 2021 increased by 3.2% compared to 2020 to €2,067, reaching a decade high....

1275. Cyprus is bursting, like a fat guy out of his leotard

Cyprus’ changing demographics are causing havoc to the real estate market, accentuating socio-economic imbalances and creating polarised communities. A bit dramatic? Let’s see....

1276. Banking sector to cut 600 more employees

The number of employees in the Cypriot banking sector will have been reduced further by the end of 2022. By the end of this year, 600 bank employees will have left the company, while about 50 will have been transferred to a similar but non-banking sector....

1277. Cabinet revokes ten passports belonging to investors and their relatives

The Council of Ministers met this morning, led by President of the Republic, Nicos Anastasiades, and decided to begin the process of revoking the citizenship of three investors and seven of their dependents based on an investigation by the Interior Ministry's services....

1278. Ending Cyprus' energy isolation

After the discovery of energy resources in the Cypriot EEZ, the start of construction of the Cyprus-Crete electricity cable can be considered a high point in Cyprus' energy affairs. For the first time in its history, the Republic of Cyprus will join Europe's energy system, with all that entails for the country's security....

1279. 0.4% increase in employment In September 2022

In September 2022 total government employment increased by 193 persons, or 0.4% in comparison to the corresponding month of 2021 and reached 52,601 persons, according to the Statistical Service of Cyprus. ...

1280. Americans show more interest in Greece's golden visa program

Americans’ interest in Greece’s Golden Visa program has marked a significant increase recently, according to the latest report of real estate experts Berkshire Hathaway HomeServices....

1281. Trade deficit increased by €1.5 bln in first 8 months of 2022

The trade deficit increased by €1.5 billion in the period from January to August 2022, compared to the same period of 2021, according to provisional data issued by the Statistical Service of Cyprus for August 2022. The deficit was €5,120.1 million in January-August 2022, which increased from €3,587.5 in January-August 2021....

1282. 36.5% increase of 'permanent residents' in the occupied areas since 2011

The online newspaper Ozyur Gazette reports, under the headline "Along with cultural erosion, the demographic structure is changing from day to day," that the number of people permanently residing in occupied territories has increased by 36.5 percent in ten years. ...

1283. Merchants of Death

People trafficker. A profitable “profession.” A high-risk profession, of course, because the business may sink. In this case, literally. Then 18, 50, 100 lives could be lost, including small children....

1284. Companies fined for safety violations resulting in the death of a worker

Two companies were fined €19,000 and two people received suspended prison sentences as a result of criminal investigations into health and safety at work violations that resulted in the death of an employee and the endangerment of others at work. ...

1285. Kathimerini poll: Christodoulides unaffected by electoral pressure

The countdown to the presidential elections has begun, and the Symmetron poll for Kathimerini reveals the critical issues that define the political environment. ...

1286. How much loan can a couple with an income of €2,000 get?

Housing loans are an issue that inevitably affects a large number of young couples. Because housing prices have skyrocketed while wages have remained stagnant, the need for housing leads to borrowing....

1287. Suspicion over Turkish fishing boats in migrant drownings

Hellenic Coast Guard officers have told Kathimerini they were investigating the role of Turkish fishing boats that were close to the location where a dinghy sunk late Wednesday and a confirmed 18 people drowned, the deadlier of the two incidents involving migrants....

1288. Britain mulling asylum ban on English Channel migrants

The United Kingdom’s Minister, Suella Braverman, has said that it will introduce a new plan which would prohibit the entry of migrants who cross the English Channel from claiming asylum....

1289. A total of 29,377 Cypriots have long Covid

Data collected by the Long Covid Cyprus network of the Cyprus Federation of Patients' Associations from the Health Insurance Organisation showed that by the end of last month, a total of 29,377 people suffered from long covid symptoms....

1290. EY achieves highest growth in nearly two decades, reports record global revenue of US$45.4b

EY announced combined global revenues of US$45.4b for the financial year ending June 2022 (FY22), an increase of 16.4% in local currency (13.7% in US dollars). This marks one of the most successful years in the history of the organization with the highest growth seen in nearly two decades attributed to the EY NextWave strategy to deliver long-term value for EY people, clients and society....