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781. Cyprus banks to double net interest income in Q1 2023

Net Interest Income (NII) for the Cypriot banking sector nearly doubled in the first quarter of 2023, driven by the ECB’s rising interest rates in a bid to contain inflation....

782. Office space, shops, and commercial land for sale by AstroBank

783. Nicosia attracts millions in investment opportunities

A new investment exceeding 60 million euros is currently in the study phase, focusing on the development of a strategically positioned plot in Nicosia. ...

784. President talks up local government reform

Cyprus President Nikos Christodoulides said on Saturday that the reform of the local government was 'perhaps the greatest challenge in the history of the local administration in the country,' while stressing that the reform should be implemented as soon as possible...

785. United by Pride: A bold step towards human rights and peace in Cyprus

An important event for human rights and peace in Cyprus is set to take place in Nicosia on Saturday, June 17. It is the "United by Pride" Intercommunal Pride March, featuring two parallel marches starting at 18:00 from two central locations in Nicosia: Eleftherias Square and Kougioulou Park. ...

786. US hails Cyprus for its efforts in combating human trafficking

The Government of the Republic of Cyprus has been recognized for its serious and sustained efforts in combating human trafficking, according to the annual report released by the U.S. State Department. ...

787. Biden outraged over reporter's question on Ukrainian bribery case

US President Joe Biden expressed his outrage when confronted with a reporter's question regarding a potential bribery case involving a Ukrainian businessman, an issue passionately pursued by Republicans in anticipation of the November 2024 presidential election....

788. ECB raises interest rate to 3.20% in ongoing tightening campaign

The European Central Bank (ECB) has announced its decision to raise the interest rate to 3.20%, marking another step in its ongoing monetary policy tightening campaign. ...

789. Deadly Mediterranean shipwreck exposes desperate migrant journeys

Wednesday’s deadly shipwreck off southern Greece, involving a large boat carrying migrants that capsized after apparently rebuffing offers of help, is just the latest case of smugglers packing vessels full of desperate people willing to risk their lives to reach continental Europe....

790. Cyprus struggles with renewable energy and storage gap

Only 15% of Cyprus' total energy production comes from Renewable Energy Sources (RES), highlighting the country's significant lag in this sector....

791. Three dead and three injured in Nottingham attack

British police said a man had been arrested on suspicion of murder after three people were found dead on the street in the central English city of Nottingham on Tuesday and three were injured after an attempt to run them over with a van....

792. Woman declared dead comes knocking

Funerals are more often than not a sad and sombre affair where grieving people say goodbye to a much-loved friend or relative who has died....

793. Christodoulides' pledge to safeguard Cyprus' reputation

President of the Republic Nikos Christodoulides has stressed that the government will not allow a very small minority of people in the country to tarnish Cyprus' reputation, which was built after many years of effort....

794. Greek islands grapple with doctor shortages as tourism takes priority

Many Greek islands face severe shortages of doctors and nurses and attempts to solve the issue fall afoul of local economies and, in certain cases, government bureaucracy....

795. Cyprus takes a stand for solidarity in EU immigration reform

Minister of Interior Konstantinos Ioannou announced on Friday that Cyprus views the establishment of a mandatory solidarity mechanism as a significant development for the country....

796. Former US-based bank executive to lead Turkey's Central Bank

Turkish President Recep Tayyip Erdogan on Friday appointed a former U.S.-based bank executive to head Turkey’s central bank, in another sign that his administration might pursue more conventional economic policies....

797. Cyprus banking sector maintains stable solvency ratio

The overall solvency ratio of the Cyprus banking sector stood at 21.2% at the end of December 2022, the same as September 2022, according to data published by the Central Bank of Cyprus on Wednesday....

798. Declining new loans in Cyprus signals economic shifts

In April 2023, Cyprus experienced a notable decline in new lending, as reported by the Central Bank of Cyprus. ...

799. Cyprus housing prices rise amid increased demand

During the fourth quarter of 2022, housing prices in Cyprus continued their upward trend, driven by increased construction costs and higher demand....

800. Determined man makes a run for it at Ledra crossing

A man was arrested on Tuesday near the Ledra crossing point in divided Nicosia, but little is known about the incident which ended up with Greek Cypriot officers who blocked his way to the south getting injured as he tried to make a run for it...

801. FinMin underlines the importance of disciplined policy

The contact circle with the banks has not been completed, and there will be a new one to adopt measures that will provide relief to borrowers regarding the increased interest rates....

802. April records a decrease in loan volumes

The Central Bank of Cyprus announced in a press release on Tuesday that total new loans decreased to €473.9 million in April 2023, compared to €922.5 million in the previous month....

803. Green party protests dog shelter conditions

The Green Party – Citizens' Cooperations is arranging a demonstration to bring attention to what they consider to be unacceptable conditions at the municipal dog shelter in Ayioi Trimithias, Nicosia....

804. Demolitions underway as Mykonos businesses tear down illegal structures

Businesses on the island of Mykonos are in a race against time to demolish illegally constructed structures on their premises and avoid being shut down by authorities....

805. Child deaths in Khartoum orphanage amid Sudan conflict

At least 60 infants, toddlers, and older children perished over the past six weeks while trapped in harrowing conditions in an orphanage in Sudan’s capital as fighting raged outside....

806. Local home buyers feel priced out in divided Cyprus

Cypriots on both sides of the divided island have been noticing real estate prices going up in recent years due to foreign buyers willing shell out more, with reports suggesting the trend is going nowhere but up...

807. Porsche Cyprus celebrates the Grand Opening of the new corporate architecture concept ''Destination Porsche'', in Limassol

It is the fourth Porsche Centre under the new retail ''Destination Porsche'' concept in the Central and Eastern Europe region and amongst first in the world. ...

808. Why are food prices so high in Europe?

It is the most basic of staple food items: sliced white bread. In Britain, the average price of a loaf was 28 percent higher in April, at 1.39 pounds, or $1.72, than it was a year earlier....

809. Cyprus unemployment higher than EU average

In 2022, the unemployment rate of people aged 15-74 in Cyprus was 6.8%, a little higher than the EU average (6.2%), according to data released by Eurostat, the statistical service of the EU, with data recording a large variation across the EU’s NUTS 2 regions. The unemployment rate among the young was also above the EU average in Cyprus....

810. An effective foreclosure framework is important, says FinMin

An effective and functional foreclosure framework is crucial for encouraging borrowers to restructure their debt, due to the high stock of non-performing loans (NPLs), the Cyprus Ministry of Finance said in a press release on Tuesday....