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1771. 64% of distressed state loans eligible for 'Oikia' scheme

The applications for the Oikia scheme for distressed borrowers have reached 64% of the total eligible loans, according to the Housing Finance Corporation. In total, 1,223 applications, valued at €115m have been submitted, out of 1,948 eligible loans, valued at €179m....

1772. Slump in car sales recorded in October

Total car sales dropped significantly in October 2022 compared with the month before mainly due to the steep drop in passenger saloon cars....

1773. Qatar: Beer banned at stadiums just 2 days before World Cup

The sale of alcohol is strictly controlled in Qatar, and it had to relax its restrictions to allow FIFA sponsor Budweiser to sell its products outside World Cup match venues and fan zones. Now, fans have been told they cannot buy beer at any games during the tournament....

1774. Health Minister: Over 200 million euros spent to tackle Covid pandemic

Health Minister, Michalis Hadjipantela, said on Monday that more than 200 million euros have been spent since 2020 to tackle the COVID-19 pandemic....

1775. 'Cyprus Tomorrow': A plan made by Cypriots for Cypriots

The importance of the "Cyprus - Tomorrow" National Plan was highlighted by Government Spokesperson and Cabinet Ministers, who attended a special promotional event in Nicosia on Saturday....

1776. 13 billion bcm of natural gas discovered off Israel's shore

Energean PLC has announced a new commercial natural gas discovery of 13 billion cubic meters off the shore of Israel as a result of its exploratory drilling of the well dubbed Zeus-1. It has also confirmed the presence of an additional 3.75 bcm at its Athena site....

1777. Anastasiades reveals Cypriot initiative on climate change at COP 27

The Cypriot initiative on climate change will be presented by the President of the Republic, Nicos Anastasiades, at the UN Climate Summit, COP27, which began on Sunday in Sharm El Sheikh, Egypt, amid growing calls for rich countries to compensate poorer ones and states most vulnerable to climate change....

1778. Defendants acquitted in first 'golden passports' trial

Nine defendants—5 people and 4 legal entities—were cleared and released from the 36 charges they were facing in the case involving the exceptional naturalization of foreign applicants by the Larnaca-Famagusta Permanent Criminal Court, which convened today, Friday, November 4. This decision was based on the Kalogeros ruling....

1779. Health Ministry: Newly arrived migrants in Cyprus are fully screened

The Ministry of Health is conducting all necessary examinations on newly arrived immigrants in the country, according to Health Minister Michael Hadjipantelas....

1780. Bounced checks totaling €47,010 were issued in October

In October 2022, only 32 bounced checks totaling €47,010 were issued, and a total of 20 people were listed on the preliminary list of the Central Information Register (CIR) for bounced checks maintained by the Central Bank of Cyprus (CBC). Thirteen of the twenty were natural persons, and seven were legal entities....

1781. Loans are increasing as interest rates rise

New loans provided by Cypriot banks rose by €217 million in September compared with August, driven mainly upwards by corporate loans over €1 million which rose by 127.6 million....

1782. Budget approved for 1,000 charging stations across the island

The Cabinet on Wednesday approved a proposal submitted by the Ministry of Transport for the installation of 1,000 public charging stations for electric vehicles, with a budget of 3.7 million euros....

1783. Progressive school offering Waldorf and IB curriculums opens in the Limassol highlands

Tucked away in the mountains of Limassol, about 20 minutes from the sea, you’ll find a school like no other....

1784. €6 million chalet just one of several investments planned for the mountains of Cyprus

The new €6.3 million project in Moniatis, which is looking for a buyer, shows that investment in mountainous areas is picking up steam. With DTA's Guru projects, the creation of the Tree Hotel, hotel acquisitions by Property Gallery, and the restoration of the Berengaria Hotel in Prodromos, interest has recently begun to be more active....

1785. Cyprus' hourly labor costs in 2020 was at €18.10, with some exceptions

Based on the findings of the Labor Cost Survey (LCS) conducted by the Cyprus Statistical Service, the hourly labor cost was set at €18.10 with 2020 serving as the benchmark year....

1786. Sizable migrant flows pushing national asylum systems to breaking point

The disproportionate migratory flows have led to a situation of force majeure, forcing to their limits the national asylum and reception systems, said Interior Minister Nicos Nouris....

1787. Moniatis' Grand Chalet is looking for a millionaire buyer

In the Moniatis area, a multi-million dollar luxury property is being built and is looking for a buyer. The plot's total area is 2.5 thousand square meters, while the size of the house under construction is 824 square meters....

1788. Household debt in Cyprus was 81% of GDP in June

Household debt stood at EUR 20.1 billion at the end of June 2022, with the relevant debt ratio standing at 81% of GDP, a slight decrease compared to the previous quarter due to GDP growth....

1789. 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%....

1790. 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....

1791. 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....

1792. 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....

1793. 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...

1794. 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....

1795. 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....

1796. 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...

1797. 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...

1798. Porsche 911 GT3 RS completes the ‘ring in 6:49.328 minutes

1799. 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...

1800. 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....