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241. Banks eye over 1 billion euro profits in 2023

Cypriot banks, including the Greek bank, are poised to rake in substantial profits for 2023, benefitting from the European Central Bank's interest rate hikes....

242. Cyprus sees 33% drop in new asylum applications, compared to 19% EU increase

In August 2023, the European Union saw a 19% increase in new asylum seekers compared to the same period in 2022, with 91,735 applications recorded. ...

243. Consumers asked to roll with it as toilet paper surges and fresh fish takes a dive

In October, the cost of toilet paper surged by 17.4% compared to September, while fresh fish prices experienced a corresponding decrease of 17.4%, as per the Consumer Protection Agency's Consumer Price Watch report. ...

244. Eurozone economic snapshot - November 13, 2023

Inflation in the Eurozone, which stood at 10.6% in October 2022, has decreased to 2.9% in October 2023, sparking optimism among central bankers....

245. Elizabeth McCaul unveils hidden financial dangers

A strong signal highlighting the need for closer scrutiny of non-bank financial institutions comes from Frankfurt, as Elizabeth McCaul, a member of the European Central Bank's Supervisory Board, emphasizes the potential risks....

246. 'Photovoltaics for All' scheme launches €30M fund

The public will be able to start submitting applications on January 2024 for a scheme to install photovoltaics, dubbed "Photovoltaics for All", with a budget of €30 million, which is expected to correspond to 6,000 applications....

247. Will foreclosures plague 2023?

There is a race against time, with only a few weeks left to address the issue of foreclosures and enhance the framework....

248. Life expectancy in Cyprus drops to 81.3 years

Data released by Eurostat, the statistical service of the European Union, reveals that life expectancy in Cyprus has declined to 81.3 years....

249. Bank of Cyprus and Hellenic Bank upgraded by Fitch

Fitch Ratings has delivered significant upgrades to the two largest Cypriot banks, Bank of Cyprus and Hellenic Bank, signaling a positive turn in Cyprus's economic landscape and a bright outlook for both financial institutions....

250. Cyprus rcords remarkable 17.4% decrease in registered unemployed

In October 2023, the number of registered unemployed persons in Cyprus exhibited a significant decline, marking a 17.4% decrease, equivalent to 1,951 individuals, as reported by the Statistical Office. ...

251. Limassol's real estate boom registers €310M in property sales for Q3 2023

Ask Wire, a real estate and technology expertise company, has conducted an analysis and presented data on property sales in the Limassol district for the third quarter of 2023. ...

252. Annual inflation drops to 3.3% in October

Annual inflation in Cyprus is projected to decrease to 3.3% in October 2023, a drop from 4.3% in September, as per preliminary estimates released by Eurostat, the statistical agency of the European Union....

253. Which European country bears the brunt of energy costs?

The pre-tax prices of electricity and natural gas soared after Russia's full-scale invasion of Ukraine, but they're now on the decline. Although slightly higher than the second half of 2022, the final prices for customers, including taxes, reached their peak in the first half of 2023....

254. Dust and showers in the forecast

Today, Tuesday, the weather in our region promises a mix of conditions. Expect partly cloudy skies with the presence of occasional sparse dust in the atmosphere. ...

255. Key economic issues dominate the headlines

Despite various actions taken and a decrease in inflation, there are worries about the central bank's ability to achieve its goals. Some experts suggest that the target of 2% price growth, ...

256. Tightened lending criteria and reduced loan demand in Q2 2023

During the second quarter of 2023, lending criteria for both businesses and households in Cyprus remained stringent, with banks exercising caution....

257. Property sales surge to 15-year high due to foreign buyers

Residential property sales in Cyprus hit a 15-year record high in the second quarter of 2023, with significant increases in prices, according to data released by the Central Bank of Cyprus....

258. Cyprus deposits bounce back with €87.7 million growth

Total deposits recorded a noteworthy uptick in September 2023, rebounding from two consecutive months of decline, according to data released Wednesday by the Central Bank of Cyprus....

259. Cyprus tops EU in export growth with 55.2% surge in August 2023

Cyprus has taken the spotlight as the European Union's top performer in export growth, with a remarkable 55.2% surge in exports during August 2023 compared to the same period in 2022, according to Eurostat, the EU's statistical service....

260. Cyprus sees drop in poverty risk, 4,000 fewer affected

In 2022, the proportion of Cyprus's population facing the risk of poverty or social exclusion showed a decline, falling to 16.7%, down from 17.3% in 2021. This reduction indicates a decrease of about 4,000 individuals at risk of poverty or social exclusion....

261. High-ranking officer's connection to organized crime exposed

Nikos Loizidis, the president of the Police Force branch of the Equality Guild, has raised serious concerns about a member of the authority responsible for investigating complaints and allegations against the police....

262. 4-day workweek success and AI's future impact, according to an EY veteran

Riaz Shah, a four-decade member of EY (Ernst & Young), now engaged in global projects, with a particular focus on education and startup entrepreneurship, took center stage at the 6th Digital Agenda Cyprus Summit....

263. Suspense builds as foreclosure deadline nears, and creditors seek solutions

Cyprus is nearing the end of the suspension of divestments of primary residences worth up to 350 thousand euros, but a solution remains elusive regarding open funds tied to the divestment framework. ...

264. Cyprus leads EU in asylum seeker returns, 4th in deportations

Cyprus ranks first among the EU member states in the percentage of returns on new asylum seekers applications, Interior Ministry announced Thursday....

265. Fuel prices set to drop over the next 24 hours

In an upcoming change for motor fuel consumers, reductions in fuel prices are anticipated to take effect starting tomorrow and persist for the next 24 hours....

266. Thunderstorms to rumble across the island

267. Sales surge by 14.2% despite 2022 comparison

In September, traditionally considered the start of the year for many, several significant trends are emerging....

268. Tourists spend over €1.5 billion, setting new high

The most recent data from the Statistical Service regarding tourism revenues are confirming expectations, as expressed by Deputy Minister of Tourism Kostas Koumis in a recent interview with "K". It appears that this year could potentially set a new record for tourism revenues....

269. Keep an umbrella handy!

In the region today, the influence of a weakening high-pressure system is making its presence felt, resulting in a diverse weather pattern....

270. Cyprus banks secure Moody's upgrade to investment status

After 12 years, Moody's has upgraded the ratings of Cyprus' two major banks, Bank of Cyprus and Hellenic Bank, placing them in the investment category....