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1081. Cyprus grapples with lingering private debt woes

In Cyprus, the European Commission consistently highlights the significant economic challenge of private debt through regular post-program or post-memorandum reports....

1082. Mayfair shaken by £300K Ferrari collision

A high-octane saga unfolded on the streets of London's Mayfair as a £300,000 Ferrari 296, painted in regal purple, met its match in a collision with a bollard on New Year's Day. ...

1083. Finance Ministry undergoes administration overhaul

1084. Cyta unions stage two-hour work stoppage over staff future

In response to management's proposed alterations to the future of Cyta's staff, the unions are initiating a decisive move with a two-hour work stoppage today from 8-10 am....

1085. Cyprus makes the cut in new tax-friendly nations list

In a recent announcement, the Ministry of Finance shed light on the revised list of countries enjoying preferential tax status under the Independent Authority for Public Revenue of the Hellenic Republic (IAEA)....

1086. Half of container ships avoid Red Sea due to attacks

In a dramatic response to mounting security threats, half of the container ships navigating the Red Sea and the Suez Canal are steering clear of the danger zone....

1087. European Commission disburses funds to six member states

The European Commission disbursed payments to six Member States Thursday, under the Recovery and Resilience Facility (RRF)....

1088. Cypriot market braces for impact amidst Suez canal disruptions

In a recent interview with KEBE Secretary General Marios Tsiakkis, concerns were raised about the inevitable impact on product prices in Cyprus due to increased fees for ships carrying containers. ...

1089. Houthi threat spurs quick shield for Cypriot ships

The Deputy Ministry of Shipping has taken temporary measures to protect Cypriot ships due to the attacks by Yemen's Houthi movement against ships passing through the Bab-el-Mandeb strait....

1090. Cyprus implements protective measures for ships amid Houthi attacks

The Deputy Ministry of Shipping has taken temporary measures to protect Cypriot ships due to the attacks by Yemen's Houthi movement against ships passing through the Bab-el-Mandeb strait between Yemen and northeast Africa leading to the Red Sea, Deputy Minister of Shipping, Marina Hatzimanolis told CNA on Wednesday....

1091. Landlords urged to be reasonable when pricing rentals

Marinos Keynegirou, the president of the Real Estate Registration Council, warns of escalating prices and dwindling demand in the real estate market's fourth quarter....

1092. Christmas shopping sees supermarket surge, clothing decline

Christmas shopping in Cyprus saw contrasting results, with supermarkets experiencing a better turnout compared to the previous year, while clothing and footwear shops faced a decline, except for children's gifts....

1093. Wolfgang Schäuble, former German Finance Minister, dies at 81

Wolfgang Schäuble, the influential former German Finance Minister and speaker of the Bundestag, passed away at 81, leaving a profound mark on European financial affairs....

1094. As 2023 ends, banks and unions lock horns on pay structures

The banks and bank employees' unions are at odds over labor issues and the signing of new collective agreements. As we approach the end of 2023, no significant progress has been made in renewing collective agreements during the outgoing year....

1095. Cyprus housing crisis deepens amid interest rate scandal

With current interest rates, the prospect of repaying a mortgage spans nearly fifty years for an average family, turning homeownership into an elusive dream....

1096. Cyprus cheese industry shuts down amid regulatory dispute

The Cyprus Cheesemakers Association has made a unanimous decision to shutter all cheese dairies starting January 10, 2024, following a protracted disagreement with government authorities over regulatory changes....

1097. The Landmark Nicosia's modern icon emerges

In a radical transformation, The Landmark Nicosia is set to recapture Cypriot hearts, promising a revival of its former glory and embedding itself in the daily lives of citizens. ...

1098. Number of homeless people sees increase in 2023

Official data released to Parliament by the Deputy Ministry of Social Welfare, in response to a question from AKEL MP Nikos Kettiros, highlights a notable increase in individuals experiencing homelessness during the first half of 2023....

1099. How much will Christmas dinner cost this year?

The Pancyprian Consumers Association has conducted a comprehensive survey, uncovering the estimated costs of Christmas tables for families in Nicosia....

1100. Half of Cyprus loans vulnerable to Euribor and ECB rates

Half of the loans in Cyprus are "vulnerable" to euribor and the European Central Bank's (ECB) key rates. In 2024 and 2025, we may not expect further increases, but rather possible decreases, according to the Central Bank of Cyprus' Financial Stability Report for 2022....

1101. MPs debate executive bonuses in semi-governmental organizations

The issue surrounding the renewal of Cyprus Telecommunications Authority (CYTA) CEO Andreas Neocleous's contract for another five years and a requested bonus sparked discussions within the Council of Ministers about executive bonuses in semi-governmental organizations. ...

1102. Bank of Cyprus expands with €58M loan acquisition

Agreement for the Acquisition of a Performing Loan Portfolio. ...

1103. Labor Minister responds to industry staff shortages, urges caution in demands

In response to demands from employer representatives regarding staff shortages in retail, catering, and the hotel industry, Minister of Labour and Social Insurance, Yannis Panagiotou,...

1104. Stellantis Group shifts gears in Cyprus, hands dealerships to CIC Automasters

In a significant development for Stellantis Group's car dealerships in Cyprus, the renowned global car manufacturer is set to transfer operations to CIC Automasters Group. ...

1105. Over 215M COVID vaccines trashed, €4B down the drain

In a concerning revelation, European countries have disposed of more than 215 million doses of COVID-19 vaccines, originally procured at the peak of the pandemic....

1106. Businesses to cut greenhouse gas targets by 10%

Businesses revise climate targets as reality of long-term sustainability transformation hits. Sustainability progress plateaus as short-term pressures and external forces hit CSO agenda....

1107. CBC warns of non-performing loan surge amid economic challenges

The Central Bank of Cyprus (CBC) issued a warning on Monday, cautioning about the potential influx of non-performing loans (NPLs) driven by high-interest rates and inflation, which are impacting households' disposable income and businesses' profitability....

1108. Workforce crisis grips Cyprus as 12,000 job vacancies surge

In the hotel, catering, and retail sectors, an estimated 12 thousand personnel needs have prompted relevant professional associations to jointly appeal to the Ministry of Labour, seeking simplified procedures for hiring staff from third countries....

1109. Lisbon's homes unaffordable as prices hit record highs

In a dramatic twist, Lisbon finds itself grappling with a housing crisis, ranking second only to Athens in soaring housing costs among major European cities, reports Bloomberg. ...

1110. Themis Themistocleous signals potential 2024 interest rate cut

In their ''Year Ahead 2024'' forecast, analysts at Swiss financial giant UBS anticipate a slowdown in the strength of the US economy throughout 2023. ...