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1231. Cyprus helps uncover VAT carousel fraud

Cypriot authorities swung into action after an investigation of fraudulent activity in Portugal was expanded through the European Public Prosecutor’s Office, with several companies on the island reportedly linked to a scheme that cost Lisbon tens of millions in tax revenue...

1232. Fuel price cuts have begun

Following a month of price volatility, the Cypriot market should see a reduction in the cost of motor and heating fuels in the coming days....

1233. €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, ...

1234. Lawyers in Cyprus oppose backlog regulations

Lawyers in the Republic Cyprus are planning a demonstration against regulations aimed at expediting backlogged court cases, amid efforts by the state to speed up one of the world’s slowest administration of justice...

1235. Anastasiades: 'No one can portray me as a corrupt person'

It is not possible for anyone to make allegations that the President is involved in corrupt or even criminal acts without the matter being investigated by the appropriate authorities, said the President of the Republic Nicos Anastasiades today....

1236. Wasted food can feed starving people worldwide four times over

Food waste is one of the most important challenges we are faced with today, Agriculture Minister Costas Kadis said on Tuesday, adding that it leads to serious economic, social and environmental repercussions on the entire planet....

1237. World's largest crypto exchange platform to set up shop in Cyprus

The FTX bankruptcy scandal a few weeks ago rocked the entire crypto world to its core, after its founder Sam Bankman-Fried, the "wonderboy" of the crypto trading world,...

1238. Duma passes law prohibiting LGBT propaganda

Russian lawmakers on Thursday gave their final approval to a bill that significantly expands restrictions on activities seen as promoting gay rights in the country, another step in a years-long crackdown on the country's embattled LGBTQ community....

1239. North detains two teens on counterfeit spending spree

Two Greek Cypriot teenagers accused of using fake money to make purchases in the north have been arrested by Turkish Cypriot police, while another man from the south was detained after cartridges were found in his vehicle...

1240. 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....

1241. 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....

1242. CYTA expects €400 million in revenue this year

Deputy Chairman of the Committee Chrysis Pantelides told CYTA after discussing the organization's budget for 2023 that CYTA is a very good example of a profitable and robust semi-governmental organization that should remain in the ownership of the state so that the public and society at large reap these important benefits....

1243. US-Cyprus army cooperation bill heads to the House

A bill that paves the way for further military cooperation between Cyprus and the Unites States reached the House this week, following months of media hype about the island’s intent to help Ukraine with Russian-made missiles, but the specific agreement explicitly excludes weapons systems...

1244. Amazon announces immediate layoffs of 10,000 workers

Amazon plans to lay off approximately 10,000 employees from administrative and other positions in its technology departments....

1245. Who benefits from the proposed rent-to-mortgage scheme?

The "Rent vs Instalment Scheme", now known as the "mortgage to rent" scheme, is nearing completion, with implementation set to begin in January 2023. ...

1246. Humanity hits eight billion mark

A baby born somewhere on Tuesday will be the world's eight billionth person, according to a projection by the United Nations....

1247. Investors lost $1 billion on FTX, prompting calls for industry regulation

The turmoil in the cryptocurrency world continues unabated following the bankruptcy of the FTX platform, which landed its founder, Sam Bankman-Freid, bankrupt almost overnight. ...

1248. FTX's European operations suspended indefinitely

The company is taking a wait-and-see approach until further notice in order to deal with FTX International and the more than $8 billion hole it has created...

1249. Man wanted for 760m euros worth of fraud arrested at Larnaca airport

On Sunday night, a 49-year-old man who is wanted by Chinese authorities on an international warrant in connection with a fraud case was apprehended at Larnaca airport....

1250. President defers foreclosure mess to attorney general

Cypriot President Nicos Anastasiades has refused to veto legislation that suspends foreclosures yet again until February 2023, essentially calling on the attorney general to examine the constitutionality of the bill as the issue on the presidential election campaign trail continues to heat up...

1251. Cyprus regulator to suspend FTX's license

FTX's European Union license in Cyprus could be suspended in yet another blow to Sam Bankman-Fried's crypto exchange, according to Bloomberg....

1252. Finance Minister calls for the repeal of foreclosure suspension

The Ministry of Finance proposes delaying the law on divestiture suspension. ...

1253. Slower economic growth expected towards end of year

The Cypriot economy is expected to slow down towards the end of 2022 after growing steadily during the first half of the year, according to the chapter on Cyprus from the European Commission’s Autumn 2022 Economic Forecast which was presented on Friday by Commissioner for the Economy Paolo Gentiloni....

1254. Twitter: Musk warns of the possibility of bankruptcy

1255. Zuckerberg says 'sorry' as Meta lays off 1,000 employees

Facebook parent company Meta on Wednesday said it is laying off 11,000 employees, marking the most significant job cuts in the tech giant’s history....

1256. Looking for a strategy to suspend foreclosure sales

To protect vulnerable borrowers and stop the economy from being impacted by decisions that could harm its integrity, a strategy for the new potential three-month suspension of foreclosure sales is being sought. ...

1257. 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....

1258. Deep political divide in the US as midterm elections loom

In a stark closing argument ahead of the U.S. midterm elections, President Joe Biden on Monday warned that a Republican victory could weaken the country's democratic institutions, while former President Donald Trump hinted he could announce another White House bid as soon as next week....

1259. '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....

1260. 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....