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1141. Wizz Air's new aircraft brings exciting new destinations to Larnaca

Wizz Air, the fastest-growing airline in Europe and the greenest in the world, has announced the arrival of its third aircraft at its base at Larnaca Airport. With the arrival of this modern aircraft, three new routes will be launched to and from Dammam, Jeddah and Riyadh....

1142. Europe's largest economy paralyzed over strikes

Airports and bus and train stations across Germany were at a standstill on Monday, causing disruption for millions at the start of the working week during one of the largest walkouts in decades as Europe's biggest economy reels from inflation....

1143. 'Mansion tax' introduced to help homeless Californians

Some of the biggest names in Hollywood are rushing to sell their multi-million-dollar houses in Los Angeles before a new “mansion tax” kicks in on April 1....

1144. EC pushing Cyprus to pass home VAT bill or risk sanctions

Cyprus is currently facing a serious issue with the 5% VAT rate for first-time homeowners. The European Commission has issued a final warning to pass a bill that regulates the issue that has been ongoing since 2020....

1145. Tax evaders beware of what you post on social media

According to a report in the Sunday edition of realnews.gr, the Greek Government plans to identify hidden income earned by individuals and companies that conduct business online. ...

1146. CBC estimates GDP growth at 2.6% in 2023

The Central Bank of Cyprus (CBC) has marginally upgraded its projections for GDP growth this year citing the slightly improved prospects in the external economic environment and the anticipated lower energy prices, amid the continued war in Ukraine....

1147. Asylum applications up by 490% since 2016

Interior Minister Constantinos Ioannou told MPs on Thursday that the number of applications for international protection increased by 490% since 2016, pointing out the need to implement an EU action plan for the Eastern Mediterranean with a view to reducing migratory flows....

1148. Ministers band together to improve Cyprus ports

Ministers responsible for Transport, Shipping and Tourism visited on Thursday the new DP World Limassol passenger terminal to express their determination to work together to resolve any problems and improve services....

1149. Slight increase in fuel prices

A slight increase in fuel prices was recorded in the last three weeks in Cyprus, according to the Consumer Protection Service (CPS) of the Ministry of Energy, Commerce and Industry. ...

1150. Many Cypriots are climate-aware and ready to fight

According to the European Investment Bank's (EIB) annual Climate Survey, 83% of Cypriots under 30 consider the environmental impact of their future job to be a significant factor in their career choice, while 25% consider it a top priority....

1151. Employers and labor unions can't agree on COLA issue

Employers and unions continue to take opposing positions on the issue of Cost of Living Allowance. (COLA). One of the most pressing issues for the Labour Minister, who has already held the first separate meetings with the four unions PASYDY, PEO, SEK, and DEOK. ...

1152. High prices continue to plague the market

1153. Sense of calm prevails in the Aegean

The improvement of relations between Greece and Turkey and the sharp decrease in tensions is not only at the diplomatic level but also, and almost in tandem, with the operational situation on the ground...

1154. Herodotus to banks on restructuring, interest rates and transparency in charges

The Governor of the Central Bank, Constantinos Herodotou, emphasized to the Senior Executive Directors of licensed credit institutions the importance of the timely provision of viable restructurings, as well as the assessment of their data regarding the level of their deposit rates....

1155. EU states need foreign workers and are changing their requirements

Working in EU: Recent Changes You Must Be Aware of If You Are Planning to Get a Job in Any of the Member States...

1156. Construction materials up by 10.73% in February 2023

The Price Index of Construction Materials for February 2023 reached 136.10 units (base year 2015=100), recording an increase of 10.73%, according to data published by the Statistical Service of Cyprus on Monday....

1157. 'Cyprus banking system ready to absorb shocks'

Tasos Yasemidis, an economist, spoke to "SPOR FM 95.0" and the "DIASPORA NEWS" show about the deal for the acquisition of Swiss bank Credit Suisse by UBS and how it affects the banking sector in Cyprus, ...

1158. UBS steps in to buy rival Credit Suisse

Some of the world's largest central banks came together on Sunday to stop a banking crisis from spreading as Swiss authorities persuaded UBS Group AG to buy rival Credit Suisse Group AG in a historic deal...

1159. Italy weighs in as Cypriot fund goes after Lukoil plant

An Israeli-backed Cypriot fund’s deal to buy a Lukoil-owned refinery in Italy is hanging in the balance ahead of a Cabinet meeting in Rome possibly this week, when veto powers would be weighed against energy hub aspirations that could replace Russian gas and put the final nail in the coffin of a proposed EastMed pipeline...

1160. Inflation sees downward trend for 7th month in a row

The cost of living in Cyprus has decreased for the seventh month in a row, with the rate of inflation dropping to 6.7% in February. This is down from a peak of 10.6% in July 2022. ...

1161. Majority of goods transported by sea in Cyprus and the EU in 2021

In 2021, maritime transport accounted for more than two-thirds (68%, 5 135 billion tonne-km; tkm) of the EU’s freight transport, the lowest share recorded in the past decade according to data released by Eurostat, the statistical service of the EU....

1162. Job vacancies declined by 18.9% to a total of 7,821

The number of job vacancies in the 4th quarter of 2022 decreased by 1,822 (-18.9%) compared to the same quarter of the previous year when the number was 9,643....

1163. ECB raises interest rates again by .5 percentage points

At noon on Thursday, the European Central Bank (ECB) confirmed that it would stick to its tactics to tackle inflation by announcing a 50 basis point hike....

1164. Tax Department: €70 million in taxes refunded - €200 million to be collected

An intensive effort by the Tax Department in recent months has resulted in a refund of over €70 million in excess taxes, with an additional €200 million expected to be collected, according to Tax Inspector Sotiris Markides. He emphasized that the Department aims to clear all outstanding Company and Individual Returns by the end of 2023....

1165. Four Cypriot companies exposed to SVB and Signature Bank fallout

Four companies licensed by the Cyprus Securities and Exchange Commission (CySEC) had deposited at Silicon Valley Bank and Signature Bank, the two US banks that failed, causing turmoil in the global economy....

1166. Credit Suisse borrows more than $50 billion from Swiss National Bank

Credit Suisse’s shares soared 30% on Thursday after it announced it would move to shore up its finances by borrowing up to nearly $54 billion from the Swiss central bank, bolstering confidence as fears about the banking system moved from the U.S. to Europe....

1167. It's been 10 years since the haircut

In March 2023, Cyprus will mark 10 years since the deposit haircut. Ten years after the 2013 crisis, Cyprus looks completely different. During this decade, many changes have taken place and its citizens have experienced many different situations,...

1168. Minister of Agriculture pushing for a 'Farmers Card'

Agriculture Minister Petros Xenofonos announced today during a meeting of the House of Representatives Agriculture Committee that he intends to create a farmer's card to provide services to the agricultural world....

1169. KEDIPES: Interest subsidies for good loans in 2023

As a reward for borrowers who stick to the repayment schedule of their credit facilities for the year 2023, KEDIPES is moving forward with an interest subsidy for restructured credit facilities that have the ECB base rate as their base rate....

1170. Trade deficit increased by 163.5% in January 2023

A large increase was recorded in the trade deficit in January 2023 according to preliminary data published on Monday by the Statistical Service, since the increase in imports was more than three times the increase in exports....