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121. EU reviews impact of Chinese exit from Vasilikos' LNG terminal

The European Commission is assessing the potential impacts on project funding following the withdrawal of a Chinese consortium from the construction of the LNG terminal in Vasilikos, a spokesperson for the European Commission confirmed....

122. Anastasiades speaks out on Cyprus solution, corruption, and political ties

In one of his most candid interviews to date, former President Nicos Anastasiades discussed the Cyprus problem and the talks held in Crans-Montana with Marina Economides in "K". ...

123. Supreme Court stands firm, guarantors must pay €30K loan debt

In a unanimous decision, the Supreme Court of Cyprus has dismissed the appeal of two individuals contesting a ruling by the Paphos District Court, which held them liable for €30,244.32 plus interest and costs, as guarantors of a business loan granted by Laiki Bank in 2002....

124. Turn your land or roof into income and help combat climate change

As the world grapples with the intensifying effects of climate change, marked by record-breaking temperatures from June 2023 onwards, the call to shift towards sustainable practices has never been more urgent....

125. ''Christodoulides’ success built on my policies,'' says Anastasiades

Former President Nicos Anastasiades has criticized current President Nicos Christodoulides for taking credit for projects initiated by the previous administration....

126. ETYFA receives unfinished Vasilikos Terminal, plans to complete by 2025

The government is on a countdown following the termination of the contract for the construction of Terminal F.P. at Vasilikos by the CPP-METRON CONSORTIUM LTD....

127. Apartment prices up 13.9% yearly, house price growth slows

In the first quarter of 2024, house price growth showed a slight slowdown, while apartment prices continued to rise....

128. Chamber of Commerce warns of risks from Cyprus’ 1.5% wage hike

The Cyprus Chamber of Commerce and Industry (CCCI) has expressed concern over a new agreement between the Ministry of Finance and public sector unions to grant a 1.5% general wage increase starting in October 2024....

129. June sees price hikes on essentials as inflation rises

Get ready to pay more for everyday items! Prices for many essential goods jumped in June, driving up inflation to 2.9%. This follows a steady rise from 2.4% in April and 2.7% in May....

130. Rising costs of utilities and dining out are hitting home

The Harmonised Index of Consumer Prices (HICP) in Cyprus remained steady at 3% in June, according to data released on Wednesday by the Cyprus Statistical Service (CyStat). ...

131. Soaring insurance costs push global shipping rates up 233%

Global trade has faced immense pressure since last October when the war in the Near East erupted following the terrorist attack by the Palestinian group Hamas against Israel. ...

132. Mykonos tourism decline linked to high costs

International air traffic to Mykonos is on a downward trajectory for another year, according to plans for available seats that airlines have for this summer so far....

133. ADMIE pushes for new ruling on power cable costs

Independent Power Transmission Operator (ADMIE) of Greece presented new data to the Cyprus Energy Regulatory Authority (RAEK) on Monday, regarding......

134. Cyprus faces financial hit as Chinese consortium exits energy project

Following the public admission by Energy Minister George Papaconstantinou, the agreed separation between Cyprus' Natural Gas Infrastructure Company (ETYFA) and the Chinese consortium CPP-METRON Consortium Ltd (CMC Ltd) is imminent, according to a report by Apostolos Tomaras in this Sunday's printed edition of Kathimerini....

135. Study reveals pros and cons of Great Sea Interconnector

Cyprus' Minister of Energy, Trade and Industry, George Papanastasiou, announced on Thursday that the comprehensive cost-benefit study for the Cyprus-Greece (Crete) electricity interconnection, known as the Great Sea Interconnector (GSI),...

136. The 'Great Sea Interconnector' will cut electricity costs by 30%

Minister of Energy, Commerce, and Industry George Papanastasiou is set to meet with the management of Greece's Independent Power Transmission Operator (ADMIE) on Thursday to receive a comprehensive Cost and Benefit Analysis (CBA) for the Great Sea Interconnector (GSI) project, linking Cyprus, Greece, and Israel....

137. Cyprus sets course for cheaper electricity in 2025

Energy, Commerce, and Industry Minister George Papanastasiou unveiled Cyprus' ambitious plans for the Electricity Authority of Cyprus (EAC) during a press conference in Nicosia on Tuesday. ...

138. No progress on Cyprus-Greece electricity interconnection project

No progress was made on the Cyprus side's position regarding the Crete-Cyprus electricity interconnection project during yesterday's teleconference, initiated by the European Commission and involving stakeholders from Greece and Cyprus....

139. Cyprus grapples with energy future amid interconnector debate

The Cyprus Energy Regulatory Authority (CERA) has summoned ADMIE, the country's electricity grid operator, for a crucial meeting on July 15 to discuss new data that could potentially alter a decision barring charges to Cypriot consumers ahead of the Great Sea Interconnector project's implementation....

140. Domestic violence cases on the rise in Cyprus

Reports of domestic violence in Cyprus have seen a significant rise, with incidents reaching alarming numbers, Justice and Public Order Minister Marios Hartsiotis told a parliamentary committee on Monday....

141. Cyprus charts course for 2025 budget surplus

President Nikos Christodoulides announced during a Cabinet meeting on Monday that the government is on track to achieve a budget surplus for the fiscal year 2025....

142. Cyprus faces hurdles in connecting to European electricity grid

A critical regional energy project aiming to connect Cyprus to the European electricity grid has hit significant roadblocks, threatening the country's bid to end its energy isolation as the last EU member-state without such a connection....

143. Cyprus' 300 fintech firms boost economy, says Georgoulas

The Economist's 28th Annual Government Roundtable concluded with great success in Greece, running from July 2-4....

144. State to cover €12M shortfall from licensing revenues

Interior Minister Konstantinos Ioannou expressed satisfaction with the progress of the Local Government Reform, despite minor issues during the initial days of its implementation....

145. Cyprus President meets business leaders on HR, energy, and tax

146. Ice cream prices melt wallets by 8.07% more

As temperatures rise, so do the prices of summer essentials in Cyprus, with ice creams, package holidays, and hotel stays seeing noticeable hikes compared to last month, according to data released by the Cyprus Consumers Association....

147. Luxury retailers Saks and Neiman Marcus merge in big deal

A new luxury retail giant is emerging in the United States as the parent company of Saks Fifth Avenue acquires Neiman Marcus for $2.65 billion....

148. Cyprus risks losing €657M EU grant for Interconnector project, says Energy Minister

Energy Minister George Papanastasiou expressed concerns over the potential withdrawal of a €657 million subsidy by the European Commission for the electricity interconnection project between Cyprus and Greece......

149. Athens warns Nicosia to reverse delays in power grid project

The ambitious electricity interconnection project linking Cyprus with the European power grids through Greece faces significant hurdles as tensions rise between Athens and Nicosia....

150. Dior bags assembled for €53, sold at €2,600

Italian authorities have uncovered stark realities behind the glitz of fashion catwalks and luxury boutiques during recent raids on local factories and workshops involved in the production of Dior and Armani handbags....