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1471. Power cuts to be implemented on Wednesday

The Cyprus Transmission System Operator (TSO) is developing a power cut schedule in collaboration with the Distribution System Operator (DSO) to ensure the security of the electricity generation system, with the plan so far providing for half-hourly power cuts in the Nicosia, Larnaca, and Famagusta districts....

1472. US at the ready to lend support to Cyprus

Should disaster strike once again, the United States stands ready to lend its support, resources, and expertise to the Republic of Cyprus, US Ambassador Judith Garber assured, pointing out at the same time, that Americans have benefitted directly from the heroism and efficiency of the Civil Defense team in the past....

1473. €36 million loss so far reported by banks this year

The banking system reported a loss after tax of €36 million on a consolidated basis in the first nine months of 2022, compared to a profit of €22.54 million in the corresponding period of 2021....

1474. November's real estate performance

The year is almost over, and we now have a good idea of how the real estate market performed in 2022. As we all know, the difficulties were and continue to be numerous....

1475. More EU Parliament offices raided in corruption probe

Belgian police conducted more raids at European Parliament offices Monday as the legislature’s president pledged to launch an internal investigation into corruption allegations and the bloc’s top official called for the creation of an EU-wide independent ethics body...

1476. €5.4 million grant from Switzerland for integration projects

The Minister of Finance, Constantinos Petrides and the Swiss Ambassador to Cyprus, Christoph Burgener signed on Monday the Framework Agreement by which Cyprus will receive a grant of €5.4 million for the implementation of projects in the area of Cohesion....

1477. Trade deficit jumps to €6.17 billion in January – October 2022

Cyprus’ trade deficit jumped to €6.17 billion for the period from January to October 2022, surpassing the deficit for the full year 2022 amounting to €5.24 billion, amid price hikes mainly driven by the war in Ukraine....

1478. Avrupa reports one million residents in the occupied territory

Avrupa cites data from the "Information and Communication Technology Institute" today, indicating that the population of the occupied territories has surpassed one million....

1479. The 2023 Budget in the vortex of the elections

The government of President Anastasiades has just submitted its final budget, for 2023. DISY will undoubtedly support the budget, but it will be interesting to see what position it will take if and when the polls are confirmed....

1480. Vehicle registrations up 7.2% annually in November

Vehicle registrations increased yearly by 7.2% in November 2022, according to a report published on Thursday by the Statistical Service. Total registrations of vehicles in November numbered 2,522, compared to 2,353 in November 2021. ...

1481. Cabinet approves 'vehicle history database'

The Council of Ministers today approved an amendment to the Motor Vehicles and Traffic Movement Regulations that will create a database that will record the history of vehicles involved in accidents....

1482. 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,...

1483. 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....

1484. 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. ...

1485. 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....

1486. 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%...

1487. 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%....

1488. 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....

1489. 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...

1490. 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....

1491. When the ink dries, this will be the new archaeological museum

1492. €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, ...

1493. 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....

1494. 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....

1495. 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....

1496. 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....

1497. 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...

1498. Bank's chairman buys BOC shares for 3 consecutive days

1499. 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....

1500. 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,...