Search

1051. Banking on success: Greek and Cypriot banks show remarkable credit improvement

Fitch Ratings released a new report on Monday stating that the credit profiles of Greek and Cypriot banks have significantly improved over the past year due to de-risking and restructuring....

1052. Gasoline trade in divided Cyprus

The issue of gasoline from the occupied territories is one of the most well-known psychodramas of Cyprus. It is a distortion of the market due to the country's division and the occupation of part of it by another country. ...

1053. Digital ''One-Stop-Shop'' to access renewable energy projects in 2024

The Ministry of Energy, Commerce, and Industry announced on Monday the launch of the online "Digital One Stop Shop" platform, an action of the Recovery and Resilience Plan "Cyprus - Tomorrow", which, in the first phase, concerns the digital submission of applications for the licensing of renewable energy projects....

1054. President and FM to join EU-CELAC meeting

Cyprus' President Nikos Christodoulides is set to participate in the Summit of the European Union and the Community of Latin American and Caribbean States (CELAC) in Brussels on July 17 and 18....

1055. Philippos Soseilos: Significant investment opportunities in Cyprus

1056. UN and EU push for Cyprus Problem breakthrough

The United Nations and the European Union are making efforts to break the current deadlock in the Cyprus problem, recognizing the significant role of Turkey. Diplomatic sources have revealed that Turkish President Recep Tayyip Erdogan appears open to resuming the negotiating process....

1057. Cyprus Parliament rejects bills on borrowers' rights

The Cyprus Parliament voted against two non-government bills regarding borrowers' rights on Thursday, disregarding warnings from the government and the Central Bank about potential threats to the stability of the financial sector....

1058. Cyprus approves €361M supplementary budget for 2023

With criticism against the government's agreement for the purchase of the Metropolitan building, which will house the Ministry of Labor and Social Insurance, the Plenary of the House of Representatives approved the supplementary state budget amounting to €361 million....

1059. Cyprus surpasses 40,000 solar installations

The Electricity Authority of Cyprus has taken actions to reduce the waiting time for the inspection of photovoltaic systems after installation....

1060. Moment of truth: Critical juncture for Cyprus

The shift attempted by Turkish President Erdogan, with a backdrop of Turkey's relations with the US, the European Union, and Athens, seems to indicate a significant change in paradigm. ...

1061. Energy savings: 1.3% to 1.9% by 2030

MEPs approved today's plans, already agreed with the Council, that set new energy-saving targets for 2030, as part of the European Green Deal....

1062. Housing sales slow due to inflation and construction costs

The value of transactions in the real estate sector amounted to €1.52 billion in the second half of the year, with the market bearing the impact of the interest hikes, inflation and the increased construction cost....

1063. Loan demand in Cyprus falls, interest rates rise

The Cypriot banking institutions are holding a small basket for demand in new loans....

1064. Proposed foreclosure reforms spark debate in Cyprus

Three proposals will be discussed at the last Plenary Session of the House of Representatives before the summer recess, along with three scenarios regarding the outcome of the foreclosure framework....

1065. Major banks hit by large-scale cyberattack

The banks Deutsche Bank, Commerzbank, and ING are among the dozens of companies that have suffered a large-scale cyberattack....

1066. Europe's first multi-themed resort opens in Limassol

The inauguration of the City of Dreams Mediterranean in Limassol on Monday marks a significant milestone for tourism in Cyprus, introducing the continent's first multi-theme resort....

1067. US senator supports Greece's role in deterring Russia

"If the administration chooses to override the F-16 veto, I will oppose it and there will be consequences," Senator and Chairman of the US Senate Foreign Relations Committee Robert Menendez told reporters on the sidelines of the Eastern Mediterranean Business Summit in New York....

1068. Cyprus among countries with lowest food deprivation rates

Out of people that were at risk of poverty in Cyprus in 2022, 5.6% were unable to afford a meal containing meat, fish, or a vegetarian equivalent every second day (19.7% in the EU), which was an increase compared to the last year, according to data released by Eurostat, the statistical service of the EU....

1069. Vehicle registrations soar by 24.4% in first half of 2023

A significant increase of 24.4% was recorded in vehicle registrations in the first half of 2023, compared to the same period in 2022, while an increase of 22.4% was recorded in June 2023, compared to the same month last year....

1070. Cypriot economy on the brink, says Finance Minister

During his address to the House of Representatives and following his presentation to the Parliamentary Finance Committee on the government's comprehensive package of seven measures for addressing foreclosure issues, ...

1071. Contentious foreclosure legislation sparks debate in Parliament

The issue of foreclosures remains unresolved and will be the focal point of the upcoming plenary session on Thursday, July 13. ...

1072. Inflation drops, but food prices soar

According to Marios Droussiotis, the president of the Cyprus Consumers Association, inflation is decreasing, but food prices remain excessively high. In an interview with K, he explained that although the overall inflation rate in Cyprus is 1.9%, the prices of food items have increased by 9.8%....

1073. Revitalizing democracy: George Pamboridis launches new political platform

George Pamboridis is taking strides towards establishing a political platform, an interactive workshop for political reform, in collaboration with others....

1074. Cyprus gov't to pay €345,000 to Turkish Cypriot for illegal use of property

The big news: "Compensation of €345,000 will be paid to a T/C of American origin by the Republic of Cyprus, while also returning his property in Limassol, which was being used illegally....

1075. Sweden's NATO Membership hangs in the balance as Turkey poses last-minute hurdle

The developments surrounding Sweden’s NATO membership are rapidly unfolding, with indications pointing towards an imminent announcement of an agreement during the Vilnius summit held on July 11-12. However, there remains the possibility that Turkey may disrupt the proceedings at the last moment....

1076. TechIsland announces TechIsland Awards Finalists

TechIsland is happy to announce the shortlist of finalists for the 1st TechIsland Awards. The 260+ members of TechIsland were asked to submit their nominations for 7 different categories of awards, based on specific criteria, aiming to bring forward and shine a spotlight on individuals, projects and companies that are shaping the tech and innovation landscape of Cyprus....

1077. Fuel prices plummet while food costs soar

Liquid fuels experienced the most significant annual percentage decline in June, dropping by 27.2%. Contributing to a 1.9% inflation squeeze, the lowest point in 25 months, was a 25.6% annual decline in oil prices....

1078. Cyprus shines as EU's strong innovator for second consecutive year

Cyprus is once more placed among the EU's strong innovators for a second year in a row, according to the annual EU innovation scoreboard, marking a significantly faster performance than the EU average....

1079. Spain: Youngsters to receive 20,000 euros upon turning 18

A universal inheritance is proposed by the Minister of Labor of Spain, Yolanda Diaz, as a means to address social inequalities. Under this framework, all young people living in Spain would receive 20,000 euros after they turn 18....

1080. Climate change threatens tourism as tourism impacts climate change

Coastal erosion, rising sea levels, increased temperatures, sea disturbances, and storms, as well as the reduction of freshwater supply, are some of the consequences of climate change....