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481. Risk of power cuts next week

Due to a disagreement between the management of EAC and its employees, the nightmare of a power outage next week will return in December....

482. Cabinet approves 'vehicle history database'

The Council of Ministers today approved an amendment to the Motor Vehicles and Traffic Movement Regulations that will create a database that will record the history of vehicles involved in accidents....

483. Tying up loose ends at Hellenic

Hellenic Bank experienced several changes in 2022, as it closed outstanding issues while also opening new chapters. Hellenic Bank made changes to its top management, staff, shareholding composition, and labor issues in the fourth quarter of 2022, ...

484. Germany needs 400,000 employees annually to cover labor demands

Due to Germany’s aging population which results in a lack of qualified workers, the country’s labor market is at risk, with authorities left to count on target migration as a solution for the situation. ...

485. Dept of Labour: 'Our social security fund is sound'

According to the Ministry of Labour and Social Insurance, the General Social Insurance Plan's most recent actuarial study shows that the amendments made up until 2012 ensure the long-term viability of the Social Insurance Fund and that,...

486. ICT specialists crucial as 80% of companies still allow remote work

According to the results of the survey on information and communication technologies (ICT) usage and e-commerce in businesses in 2022, published on Thursday by the Cyprus Statistical Service, more than 80% of businesses with ten or more employees provided mobile devices with access to the internet and business email in 2022....

487. Over half a billion euro in government surplus so far this year

Preliminary General Government fiscal results indicate a surplus of €556.4 mn for the period of January-October 2022, according to data prepared and published by the Statistical Service of Cyprus on Wednesday....

488. Averof: 'Technology firms can't find qualified Cypriot workers'

Averof Neophytou, Presidential Candidate and President of the Democratic Rally, stated after his visit to Murex that the global and Cypriot markets are in need of programmers and technology professionals....

489. €76.4m profit in first 9 months of 2022 for Hellenic

Hellenic Bank announced a profit of €76.4 million for the first 9 months of 2022. According to the Group Financial Results for the nine-month period, ...

490. ETIAS set to enforced by November 2023

The work on the European Travel Information and Authorisation System (ETIAS) has moved forward, with the European Border and Coast Guard Agency (Frontex) revealing on Monday that a new body will be responsible to ensure the system functions in accordance with fundamental rights has started its work....

491. €100 million for companies affected by the covid pandemic

The European Commission has approved a 100 million euro Cypriot scheme to support companies and self-employed persons affected by the coronavirus pandemic, under the European Union’s State aid COVID Temporary Framework....

492. Apple supplier apologizes, offers $1400 payout to quell protests

Apple’s manufacturing partner Foxconn has offered payouts of Rmb10,000 ($1,400) to newly recruited staff who elect to leave the iPhone factory and vowed to honour pay agreements, in an attempt to quell unrest after workers violently clashed with police....

493. AG files appeal against acquittal in first 'golden passport' trial

The Attorney General of the Republic filed an appeal on Friday against the acquittal decision of the Larnaca Permanent Criminal Court, issued on November 4, 2022, in connection with a case involving the exceptional naturalization of foreign investors and businessmen....

494. BOC: Profits for first nine months gobbled up by Voluntary Retirement Plan

The bank reported 9 million euro losses following the summer departure of 550 employees, which cost it 104 million....

495. Twitter closes its offices: Chaos in the aftermath of Musk's 'ultimatum'

Hundreds of Twitter employees are expected to leave the company after new owner Elon Musk issued an ultimatum requiring employees to work "long hours at high intensity" or leave....

496. Amazon announces immediate layoffs of 10,000 workers

Amazon plans to lay off approximately 10,000 employees from administrative and other positions in its technology departments....

497. Investors lost $1 billion on FTX, prompting calls for industry regulation

The turmoil in the cryptocurrency world continues unabated following the bankruptcy of the FTX platform, which landed its founder, Sam Bankman-Freid, bankrupt almost overnight. ...

498. 400-500 Hellenic employees to be made redundant

On Monday, November 24th, 400–500 voluntary employees will depart Hellenic Launches; this will be the final shift provided by the bank....

499. Slower economic growth expected towards end of year

The Cypriot economy is expected to slow down towards the end of 2022 after growing steadily during the first half of the year, according to the chapter on Cyprus from the European Commission’s Autumn 2022 Economic Forecast which was presented on Friday by Commissioner for the Economy Paolo Gentiloni....

500. Twitter: Musk warns of the possibility of bankruptcy

501. British Airways goes gender neutral

British Airways will allow male pilots to wear make-up and carry handbags in an overhaul of the airliner's strict uniform rules....

502. Zuckerberg says 'sorry' as Meta lays off 1,000 employees

Facebook parent company Meta on Wednesday said it is laying off 11,000 employees, marking the most significant job cuts in the tech giant’s history....

503. Effective management of the migration issue

Migration flows to Europe from Africa and Asia are becoming increasingly influenced by geopolitical realities and socioeconomic developments....

504. Why inequality is growing in the US and around the world

U.S. income inequality grew in 2021 for the first time in a decade, according to data the Census Bureau released in September 2022....

505. Layoffs begin at Twitter as offices temporarily close

Twitter Inc temporarily closed its offices on Friday after telling employees they will be informed by email later in the day whether they are being laid off....

506. Passengers angry as turbulence shakes Cypriot airports

The Cypriot government is scrambling to put out fires in the aviation industry, with union ground handlers at Paphos airport forming a picket line to protest a merger downsize and leaving passengers stranded for hours in the terminal and on the tarmac...

507. Cyprus' hourly labor costs in 2020 was at €18.10, with some exceptions

Based on the findings of the Labor Cost Survey (LCS) conducted by the Cyprus Statistical Service, the hourly labor cost was set at €18.10 with 2020 serving as the benchmark year....

508. Ten prison suspensions as police probe inmate’s murder

Ten guards and employees of Nicosia’s central prison have been suspended as police investigate the murder of a Turkish Cypriot inmate, with many details emerging but not adding up as suspects already in custody were thought to be friendly with the victim...

509. New Twitter owner Elon Musk fires top execs

Elon Musk became Twitter Inc's owner on Thursday, firing top executives and providing little clarity over how he will achieve the lofty ambitions he has outlined for the influential social media platform...

510. Another speed camera van shot at while on highway

Larnaca police are investigating an incident where a speed camera van parked along the highway was shot at, according to the driver who said he saw two persons on a motorcycle speeding away...