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1. Biden announces $770 payments for California wildfire victims

In an effort to provide swift relief to those affected by California's devastating wildfires, President Joe Biden announced one-time payments of $770 for victims....

2. Los Angeles wildfires rage on, leaving 11 dead and a city in ashes

As fires ravage Los Angeles for a fifth straight day, the death toll has climbed to at least 11 people, and over 140,000 acres have been scorched, leaving entire neighborhoods in ashes....

3. AI to shake up banking putting thousands of jobs at risk

The global banking industry is bracing for a seismic shift as artificial intelligence (AI) continues to revolutionize the sector. A recent study by Bloomberg Intelligence predicts that up to 200,000 jobs in banking will be eliminated over the next three to five years as AI takes over tasks currently performed by employees....

4. 2024: A year of change and controversy in Cyprus

2024 was a year of upheaval and drama for Cyprus, marked by significant changes, political reshuffling, court decisions, and constitutional challenges. The events listed below highlight some of the most important moments that defined the year. ...

5. Homeownership in Cyprus drops below EU average

In 2023, 68.8% of Cypriots owned their homes, slightly below the EU average of 69.2%, according to Eurostat. Conversely, 31.2% of the population lived in rented housing, just above the EU average of 30.8%....

6. France's government falls in historic no-confidence vote

France is facing a deep political crisis after Prime Minister Michel Barnier’s government was ousted by a no-confidence vote, just three months into his term. This marks the shortest-lived administration in France’s Fifth Republic, which began in 1958....

7. Housing crisis looms as Limassol property prices skyrocket (video)

Limassol has seen a dramatic surge in property prices over the past five years, with rents and home prices doubling—and in some cases, tripling....

8. Temporary truce in the healthcare sector as December showdown looms

A temporary truce has been reached in the healthcare sector following the 48-hour doctors' strike....

9. Vatican faces pension crisis despite its wealth

Pope Francis made a surprising announcement this week, revealing that the Vatican's pension fund is in serious trouble and might not be able to pay pensions in the future unless big changes are made....

10. Cyprus receives major credit rating boost from Moody’s

Last Friday, Moody’s delivered a major endorsement of Cyprus’ economic progress, upgrading its credit rating by two notches, from Baa2 to A3, with a stable outlook, according to a report by Panayiotis Rougalas. ...

11. Geoeconomic tensions and Cyprus: Staying the course amid challenges ahead

Geoeconomic fragmentation, the reversal of progress towards global economic and financial integration due to political and military conflict and strategic policy decisions, is rising....

12. 50 million luxury shoppers pull back as market slows

For the first time since the 2009 financial crisis, the luxury goods market is losing its shine. A whopping 50 million shoppers have stopped splurging on designer bags, watches, and other high-end items, according to Bain & Company’s latest report....

13. Cyprus reunification 'off the table', says former U.S. Ambassador, warns Europe not to rely on U.S.

A statesman, a diplomat, and a patriot, John Koenig is the epitome of dedication to service and diplomacy. With a career spanning over three decades, he has served in pivotal roles across the globe, from his time as U.S. Ambassador to Cyprus from 2012 to 2015 to his earlier postings in Belgium, Greece, Indonesia, Italy, and the Philippines. ...

14. Laiki Bank liquidator raises €90.8 million for depositor compensation

According to a report by Panayiotis Rougalas in this Sunday's Kathimerini, the liquidator of the former Laiki Bank, Avgoustinos Papathomas, has achieved a key milestone in efforts to compensate creditors, particularly depositors who lost money during the bank’s 2013 collapse....

15. Cyprus achieves first A-level credit rating in major milestone

Scope Ratings has upgraded Cyprus's credit rating to A- from BBB+, marking the country's first A-level rating from a major credit agency....

16. Cypriot banks sending loans abroad: A growing risk?

Yesterday, I had a conversation with someone who truly understands banking—probably more knowledgeable than many who think they do....

17. Bank profits in crosshairs as tax talks heat up

The future of a special tax on bank deposits paid to the state may be heading for a shift, though a final decision is not guaranteed. ...

18. UK youth joblessness jumps 25% since 2022

A growing number of young people in the United Kingdom......

19. Cyprus braces for migrant surge as war in Lebanon intensifies

A year after hostilities erupted in Israel, the conflict has now expanded to Lebanon, reigniting fears about the stability of the Middle East....

20. Kremlin pushes procreation amid declining birthrate, encourages 'sex at work'

Russia’s top health official has urged workers to consider procreation during breaks, as part of an effort to counter the country’s population decline, a move supported by President Vladimir Putin’s long-standing push for higher birth rates....

21. Hezbollah radio explosions leave 20 dead in Lebanon's deadliest day of conflict

Explosions from Hezbollah's communication devices rocked southern Lebanon for a second consecutive day, killing 20 people and injuring more than 450 in what has become the deadliest episode since cross-border hostilities with Israel intensified nearly a year ago. ...

22. Von der Leyen unveils new European Commission lineup

European Commission President Ursula von der Leyen has unveiled the list of new commissioners, including Kostas Kadis from Cyprus, who has been appointed as Commissioner for Fisheries and Oceans. ...

23. Homebuyers face mounting debts as developers' loans go unpaid

24. Cyprus banks praised by US for stronger sanctions enforcement

US sanctions imposed on entities and individuals in Cyprus are not targeting the country, but “oligarchs and arms traders” enabling “the Kremlin war machine” to continue the war in Ukraine......

25. Cypriot bank officials to present AML progress in U.S.

Top officials from four major Cypriot banks are headed to the U.S. on Sept. 16 to present updates on their progress in anti-money laundering (AML) efforts, sanctions enforcement, and foreign account management. ...

26. Cyprus' Vasilikos gas terminal project fails after 20 years

Cyprus has faced a protracted and troubled effort to introduce natural gas to its internal market for electricity generation over the past two decades. ...

27. Cypriots in Iran urged to stay vigilant as tensions escalate

Expect mainly clear skies with some partly cloudy spells in the mountains this afternoon. Winds will be predominantly southwest to northwest, ranging from light to moderate at 3 to 4 Beaufort....

28. Greece battles major sheep and goat plague in 11 regions

New cases of sheep and goat plague are expected in Greece, with 35 outbreaks already reported across 11 of the country's 13 regions, according to Agriculture Minister Kostas Tsiaras. Movement and slaughter bans will remain in effect next week to curb the spread....

29. Greek firms fuel business expansion across Cyprus

The investment climate in Cyprus has significantly improved since the crisis era of 2013, attracting substantial interest from Greek companies....

30. AstroBank acquires Neo Plaza in Kokkinotrimithia

The Neo Plaza of Kokkinotrimithia in Nicosia, an open commercial mall project in Cyprus that did not meet expectations, has been acquired by AstroBank....