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61. Piki shares the government's tech-powered 6-year plan

The government is ramping up the execution of a series of projects, bolstering resources and expertise in collaboration with the Deputy Ministry of Research, Innovation, and Digital Policy, according to Irene Piki, Deputy Minister to the president....

62. Israeli-Hamas war puts Cyprus and Egypt at forefront of credit risks

Cyprus and Egypt are currently facing the most direct credit risks among countries rated by Scope Ratings due to the Israeli-Hamas conflict, warns the German firm....

63. How high is too high before tax relief kicks in?

Diesel prices have dipped by nine cents per liter at gas stations compared to late August, while unleaded 95-octane petrol is now six cents cheaper....

64. Bank refunds $500,000 to elderly customer

From Australia comes a story of corporate responsibility in the face of personal tragedy as an elderly national bank depositor had nearly AUD$500,000 returned to him out of the bank’s own pockets. ...

65. Real estate prices surge by 7.7%

The prices in the Cyprus real estate market have been going up in recent years....

66. Sklavenitis and Papantoniou hypermarkets to merge

The news about Sklavenitis' plan to boost its presence in the Cypriot market appears to be confirmed. It seems that the company is currently talking with Papantoniou supermarket about a potential merger....

67. Money blues: Why's the economy going South?

"Currency developments validate predictions made some time ago. The high interest rate environment will be a new reality accompanying us for several years," former Minister of Finance Constantinos Petrides stated in a post on the platform 'X'....

68. 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, ...

69. GDP alert: Economic storm brewing?

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

70. Eurobank Cyprus reports soaring profits amid rising interest rates

Eurobank Cyprus posted soaring profitability after tax for the first half of 2023 with net profits approaching the profitability of full year 2022, due to rising interest rates and the high remuneration of its liquidity held at the ECB....

71. NPL crisis highlights tug of war between borrowers and legislation

The concealment, or "camouflage," of non-performing loans (NPLs) in commercial banks before 2013 and their subsequent explosion have been, and may continue to be, the most significant challenge for the Cypriot economy. ...

72. 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. ...

73. 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....

74. 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...

75. Drug-related deaths surge in Vienna

A new UN report said the number of people suffering from drug use disorders had skyrocketed in the last 10 years....

76. Hunter Biden to plead guilty to three federal charges

President Joe Biden’s son Hunter has been charged with failing to pay federal income tax and illegally possessing a weapon and has reached an agreement with the Justice Department, according to a letter filed in U.S. District Court in Delaware....

77. Cyprus launches €60 million project for bus stops

According to a report on Philenews, Cyprus is poised to witness a groundbreaking transformation in its public transportation system through an ambitious project aimed at upgrading bus stops across the island....

78. Christodoulides' pledge to safeguard Cyprus' reputation

President of the Republic Nikos Christodoulides has stressed that the government will not allow a very small minority of people in the country to tarnish Cyprus' reputation, which was built after many years of effort....

79. May Newsletter of K. Treppides & Co Ltd: CySEC

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries....

80. As Greek elections loom, parties vie for votes of ‘lost generation’

Politicians vying for votes in Greece’s election on Sunday have turned to YouTube and TikTok to win over a younger generation who have long felt that years of crises have cost them their youth...

81. US congressman arrested for fraud and money laundering

US Republican congressman George Santos has been arrested in New York on federal charges of fraud, money laundering and theft of public funds....

82. WHO declares end to Covid-19 global emergency

The World Health Organization said Friday that Covid-19 no longer qualifies as a global emergency, marking a symbolic end to the devastating coronavirus pandemic that triggered once-unthinkable lockdowns, upended economies worldwide and killed at least 7 million people worldwide....

83. Cypriot firms struggle to detach from sanctioned providers

The business registrar in the Republic of Cyprus has been flooded with requests from companies scrambling to make changes to their structures, after hundreds of firms on the island saw their assets frozen due to new sanctions targeting agencies viewed by Washington and London as 'Russian enablers'...

84. Employers and trade unions clash over CoLA index proposal

Today, Wednesday, May 3rd, employers will have a meeting regarding the Cost of Living Adjustment (CoLA) index, and on Thursday, May 4th, the trade unions will have theirs....

85. Shocking arrest of Nicola Sturgeon's husband in SNP funding probe

Nicola Sturgeon's husband, Peter Murrell, has been arrested in connection with an investigation into the funding and finances of the Scottish National Party (SNP)....

86. Investors flock to 'green' bonds as a secure investment

87. 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. ...

88. 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....

89. Akamas compensation guidelines poses risks, says Finance Minister

"The guidelines for compensating landowners in Akamas for the loss of land value they have incurred and providing assistance to the neighborhood are speculative and ill-defined....

90. Thinking of investing in real estate? Don’t do it.

A lack of financial literacy can lead people to consider investing in direct real estate. This a provocative statement to say the least, so let me explain....