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661. Pafos-Polis Chrysochous motorway construction continues amid contractual discussions

The risk of halting construction on the Pafos-Polis Chrysochous motorway has been temporarily averted. In recent days, the construction company formally submitted a series of requests in a letter to the Department of Public Works and the Ministry of Transport,...

662. Cyprus cheese industry shuts down amid regulatory dispute

The Cyprus Cheesemakers Association has made a unanimous decision to shutter all cheese dairies starting January 10, 2024, following a protracted disagreement with government authorities over regulatory changes....

663. Surge in Syrian asylum seekers amid drop in African arrivals

The Ministry of Interior disclosed an uptick in asylum applications from Syrians, predominantly arriving by sea, citing challenges in managing these individuals due to the perilous conditions in their home country. ...

664. Number of homeless people sees increase in 2023

Official data released to Parliament by the Deputy Ministry of Social Welfare, in response to a question from AKEL MP Nikos Kettiros, highlights a notable increase in individuals experiencing homelessness during the first half of 2023....

665. How much will Christmas dinner cost this year?

The Pancyprian Consumers Association has conducted a comprehensive survey, uncovering the estimated costs of Christmas tables for families in Nicosia....

666. Israeli investments raise eyebrows in occupied territories

The large-scale acquisition of land in the Occupied Territories by Israeli citizens and Europeans of Jewish descent is creating interesting dynamics within the Turkish Cypriot community, as well as in Turkish and Turkish Cypriot press reports....

667. 2024 budget gets green light – Inside scoop on state wage proposals

The 2024 budget was passed into law relatively comfortably, with a total of 37 MPs voting for it, while 19 were opposed. ...

668. Half of Cyprus loans vulnerable to Euribor and ECB rates

Half of the loans in Cyprus are "vulnerable" to euribor and the European Central Bank's (ECB) key rates. In 2024 and 2025, we may not expect further increases, but rather possible decreases, according to the Central Bank of Cyprus' Financial Stability Report for 2022....

669. Cyprus linked to Magnitsky case through luxury hotel investment

The international organization OCCRP, specializing in organized crime and corruption, has once again implicated Cyprus in investment cases related to the luxury hotel Cap St Georges in Peyia. The connection ties back to the infamous Magnitsky case, a high-profile tax fraud scandal in Russia....

670. Cyprus to welcome 44 majestic vultures in bold conservation effort

Fifteen vultures were flown to Cyprus from Spain last week as part of the Life with Vultures program to save the endangered Griffon Vulture Gyps fulvus....

671. Lisbon's homes unaffordable as prices hit record highs

In a dramatic twist, Lisbon finds itself grappling with a housing crisis, ranking second only to Athens in soaring housing costs among major European cities, reports Bloomberg. ...

672. Government joins elite with third plea for €152.3M

Acting Permanent Secretary of DG Growth at the Finance Ministry, Andreas Zachariades, said on Thursday that as of Friday, Cyprus will be among the first ten EU member states that have submitted the third payment request from the Recovery and Resilience Mechanism of the EU....

673. European data shows low interest payouts by Cypriot banks

Cypriot banks rank second to last among European banks in terms of paying interest on total household deposits, according to data released on Wednesday by the European Banking Authority (EBA), as part of its annual risk assessment of the European banking system....

674. One to three-star hotels dominate Greece’s accommodations

Three in four Greek hotels belong in lower categories of one to three stars, representing 50% of the country’s total capacity in terms of rooms, according to data from the Institute of Tourism Research and Forecasts (ITEP) of the Hellenic Chamber of Hotels....

675. Non-performing loans take a €95M dive

As of the end of September 2023, the total Non-Performing Loans (NPLs) in the banking system of Cyprus further decreased to €2.02 billion compared to €2.08 billion at the end of August. ...

676. The climb to success in the public sector pay scale

The Ministry of Finance has officially disclosed the main provisions of the agreement reached with trade unions PASYDY and FCC, outlining significant salary advancements for public and broader public sector employees, including those within Local Government Authorities. ...

677. Cypriots pack bags for record-breaking 2023 getaways

Cypriots are preparing suitcases for abroad, taking advantage of the short holidays offered by the Christmas and New Year celebrations....

678. AstroBank: Residential and commercial properties for sale

AstroBank is selling residential and commercial properties in various areas of Cyprus such as Larnaca, Paphos and Nicosia....

679. Occupied territories witness a 33% surge in visitors

In the first 10 months of this year, the influx of visitors to the occupied territories through land entry points and ports saw a remarkable increase of 33% compared to the corresponding period last year, totaling 1,520,604 individuals....

680. Surge in bounced checks worth €1.6 million in 2023

681. Cypriot bonds hold firm at €6.75 billion amid ECB moves

As of the end of November, data from the Cypriot Central Bank reveals that the Eurosystem maintained its holdings of Cypriot bonds valued at €6.75 billion...

682. Government employment hits record high

In ongoing discussions about new hires and the 2024 budget in Parliament, the focus is on the remarkable increase in government employment, surpassing levels from 2012....

683. US vetoes UN cease-fire resolution in Gaza, escalating tensions

Friday marked a contentious day at the United Nations as the United States took a solitary stand, vetoing a resolution calling for an urgent cease-fire in Gaza....

684. Cyprus sees uptick in COVID-19 cases amid winter surge

Dr. Christos Charalambous, from the Epidemiological Surveillance and Control of Infectious Diseases Unit of the Health Ministry, reported a slight increase in COVID-19 cases in Cyprus in recent days....

685. 15.7% spike in building permit values

Despite the drop of total number of building permits during the first nine months of 2023, compared to the same period of 2022, their total value recorded an increase of 15.7%, and their volume went up by 2.9%....

686. 23andMe data breach exposes genetic profiles of millions

Genetic testing company 23andMe disclosed a significant data breach, initially stating that 0.1% of its customers, approximately 14,000 individuals, had their personal data compromised. ...

687. Paphos police haul in 46,568 euros in warrant sweep

In a strategic move aimed at tackling pending warrants, the Paphos Police have successfully collected a sum of 46,568 euros over the last two days....

688. EAC invites bids for renewable energy land lease

The Cyprus Electricity Authority (EAC) has announced a tender for the long-term land lease for the development of Renewable Energy Sources (RES) projects....

689. Protecting citizens' information in Cyprus under scrutiny

The water leak at the Ministry of Finance in Cyprus has exposed broader issues in the country's digital services, raising concerns about both physical infrastructure protection and the safeguarding of citizens' data....

690. Mortgage rates soar to 4.91%, deposits decline in October 2023

Mortgage interest rates in Cyprus climbed to 4.91% in October 2023, according to data released by the Central Bank of Cyprus in its November 2023 edition of Monetary and Financial Statistics....