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121. Cyprus faces deceleration amid inflation and rising rates

Cyprus' economy experienced a slowdown in the second quarter of 2023, prompting inquiries about the situation. According to the preliminary estimate provided by the Statistical Service, ...

122. GDP alert: Economic storm brewing?

Former Minister of Finance, Konstantinos Petrides, comments on the GDP results for the 2nd quarter with five observations....

123. Petrides: ''EIB denies EuroAsia funding, government's involvement a no-go''

Constantinos Petrides, the former Finance Minister, has reacted to the recent refusal of the European Investment Bank (EIB) to provide funding for the EuroAsia Interconnector electricity interconnection project....

124. Italy surprises banks with 40% windfall tax

Italy's rightwing coalition sent shockwaves through the financial markets as it announced an unforeseen 40% tax on bank profits derived from higher interest rates. ...

125. Cyprus enhances migration management with new facilities

Cyprus took a significant step in enhancing its capacity to manage migration pressures by signing a contract for the construction of a reception center for around 1,000 people and a pre-departure center for approximately 800 people. ...

126. Cyprus President's trip to Palestine

President Nikos Christodoulides travels to Ramallah, Palestine, on Wednesday, for an official visit where he will have a meeting with Palestinian President Mahmoud Abbas....

127. Controversial conference sparks fierce debate on sex ed in schools

A conference invitation circulating on social media for an upcoming event on sex education in schools has sparked reactions and criticisms. The conference, scheduled for Thursday, August 3, at the Melanos Centre in Chloraka, features titles like "We say NO to Holistic Compulsory Sex Education in Schools" and "We say NO to Laws that are contrary to the Bible and Orthodox Teaching."...

128. Petrides tweets expose EuroAsia Interconnector's risks

A series of points accompanied by questions were posted on Twitter by former Minister of Finance, Constantinos Petrides, commenting on the developments regarding the evaluation of the sustainability of the EuroAsia Interconnector project, the electric interconnection project between Cyprus, Greece, and Israel. ...

129. Cyprus-Oman double taxation agreement approved

The Council of Ministers approved on Wednesday an agreement for double taxation avoidance and the prevention of tax evasion regarding income taxes as well as the relevant protocol between the Republic of Cyprus and the Sultanate of Oman, Minister of Finance, Makis Keravnos said after the Cabinet meeting....

130. Varosha hotels now accepting bookings for 2025

The latest developments in Varosha have been brought to light by Yeni Bakis newspaper. ...

131. Philippos Soseilos: Significant investment opportunities in Cyprus

132. Pseudo-gov't pushes forward with controversial marina project in Varosha

The self-declared pseudo-government in the occupied areas has made a decision to proceed with the construction of a marina intended for private boats and tourism development in Varosha, an area belonging to the Republic of Cyprus....

133. 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....

134. Relief for vulnerable households with non-performing loans

The ''Rent vs Instalment Scheme'' was approved by the Council of Ministers today, as announced by Government Spokesperson Konstantinos Letymbiotis following the conclusion of the Council. The European Commission's Directorate General for Competition also granted approval on July 6....

135. Ministry of Labor to improve minimum wage policies

Cyprus currently has an outdated software system for pension fund operations. The government aims to expedite the actuarial study for the Social Insurance Fund (TKA) with the support of the International Labor Organization and the government of Austria. ...

136. 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, ...

137. 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. ...

138. BBC under fire for alleged payment of child for explicit photos

The British government on Sunday ordered the BBC to investigate one of its presenters, accused in the press by a mother of having paid her child to send her pornographic photos....

139. 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....

140. The government's seven proposals for vulnerable individuals

Finance Minister Makis Keravnos submitted seven government actions aimed at addressing issues related to non-performing loans to Parliament yesterday....

141. Parliament to vote on law for borrowers' foreclosure appeal

The news from the "Oikonomiki Kathimerini" about the suspension of first home foreclosures up to €350,000 until the end of October has been confirmed. ...

142. President urges solution as foreclosure laws vote approaches

Cyprus is heading towards suspending first residence property foreclosures up to 350,000 euros until the end of October....

143. Double impact on gas station owners

Citizens are in turmoil following the termination of reduced special consumption tax rates on transportation and heating fuels, which resulted in increases of 8.32 cents in gasoline and diesel, and 6.83 cents in heating fuels. ...

144. Lawmaker insists secret funds were paid to hackers

Recently hacked data from Cyprus’ land registry and the state’s flagship university were back in the news this week, after a lawmaker said he had been told that millions of secret money was paid to cyber attackers, an allegation denied by officials...

145. Cyprus unveils culinary brilliance at Gastronomos Awards

The anticipation reached a fever pitch as Cyprus braced itself for the grand culmination of the year-long journey celebrating its prodigious producers....

146. Cabinet pulls plug on fuel subsidies

Temporary fuel state subsidies are set to expire before the weekend in the Republic of Cyprus, after the finance minister announced an extension could not be justified...

147. ''A government 'Sans Famille'''

The title does not pertain to Hector Malot's novel, ''Sans Famille'' (''Without Family''). It relates to the response that the President of the Republic had to provide, in answer to a question from an esteemed colleague at "K" newspaper, Marina Oikonomidou,...

148. Cyprus economy thrives: FinMin foresees robust growth and fiscal stability

During the 2023 Annual General Meeting of the Cyprus Bankers Association, the Minister of Finance, Mr. Makis Keravnos, discussed the current state and future prospects of the Cyprus economy, particularly focusing on the banking sector. ...

149. Temporary VAT reduction on essentials estimated at €14.5 million

In the upcoming days, most likely early next week, a clearer picture is expected to emerge regarding the government's course of action on the reduced Value Added Tax (VAT) rate for fuel and electricity....

150. Government ends tax break, fuel and electricity prices to rise

The Director General of the Ministry of Finance, Michalis Pantelis, has expressed the government's intention to end the measure of reducing excise tax on fuel and electricity....