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451. Bank of Cyprus sees 23% profit growth, raises financial targets

The Bank of Cyprus has announced a 23% increase in its profit after tax for the first half of 2024, reaching €270 million, compared to the same period in 2023. ...

452. Limassol man duped out of €30,000 in cryptocurrency scam

453. Government rolls out €400 laptop grants for middle school students

Following the President's announcement of the "At Every Start, Together" initiative aimed at supporting students at the beginning of the new school year and easing family......

454. 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. ...

455. President unveils €9.5M support package for students and families

President Nicos Christodoulides announced a new package of measures aimed at supporting students and alleviating family budgets amid rising inflation and costs. The initiative, titled "Together at Every Beginning," is designed to assist families as the new school year approaches....

456. Kamala Harris selects Tim Walz as running mate

Viewed by many as a dark horse candidate, Illinois Gov. J.B. Pritzker has not been selected to serve as Kamala Harris’ running mate. Harris chose Minnesota Gov. Tim Walz as the Democratic Party’s vice-presidential candidate...

457. Central Bank revises GDP growth to 3%

The Central Bank of Cyprus (CBC) made a conservative upward revision to the GDP growth rate for 2024, by 0.2 percentage points, to 3%......

458. 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....

459. Cyprus unemployment decreases, while social benefits paid increase

The number of unemployed persons registered at the District Labour Offices in Cyprus fell to 11,877 at the end of July 2024, marking a 9.9% decrease compared to the same period last year, according to data released by the Statistical Service on Monday....

460. FT: Global stock markets tumble amid US recession fears

Global stock markets experienced significant declines on Monday as concerns about a potential US recession led investors to abandon risky assets....

461. GESY reserve fund soars to €590 million

The General Healthcare System (GESY) reserve fund remains high at approximately €590 million, exceeding international best practices......

462. Corruption at the heart of the Cyprus problem

Is there any doubt that corruption is a major reason why the Cyprus problem remains unresolved? A recent example is the Vasiliko case, the construction project of the ''Liquefied Natural Gas Storage and Regasification Terminal'' in Vasiliko....

463. August Newsletter of K. Treppides & Co Ltd: European Securities and Markets Authority

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....

464. DISY President urges transparency amid Vasilikos scandal

DISY President Annita Demetriou's call for transparency regarding the Vassilikos scandal carries dual significance. ...

465. Cyprus could face financial strain over Vasilikos debacle

The abandonment of the Vasilikos terminal project by a Chinese consortium has triggered a cascade of financial and operational challenges for Cyprus, with substantial implications for state finances and energy infrastructure....

466. Ministers allegedly unaware of EU probe into Vasiliko project

The European Commission has launched an investigation into the Vasiliko project, sparking a wave of controversy and finger-pointing among Cyprus officials....

467. Eurobank Cyprus reports €105.7M net profit for H1 2024

Eurobank Cyprus reported a net profit of €105.7 million for the first half of 2024, marking a 16% increase, or €14.9 million, compared to the same period in 2023....

468. 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....

469. Financial disputes linked to double murder in Limassol district

The mystery surrounding the double murder in the Limassol district began to unravel after a missing person report led to the identification of one of the victims. Authorities have identified one victim as Andreas Kouzoupi, 39, from Arakapa. ...

470. Bank of England cuts interest rates after nearly a year of stability

The Bank of England (BoE) has cut interest rates for the first time since the start of the COVID-19 pandemic, dropping them from a 16-year high. This decision, made by a narrow 5-4 vote, reflects a split among policymakers about whether inflation is under control....

471. Turkish stray dog law ignites protests over threat of mass killings

Turkish legislators have approved a controversial law aimed at removing millions of stray dogs from the country’s streets, a move that animal rights activists fear could lead to widespread euthanasia or overcrowded shelters....

472. Cyprus sees significant uptick in new loans

In June 2024, new loans in Cyprus substantially increased, reaching €330.6 million, up from €234.9 million in May. Data from the Central Bank of Cyprus (CBC) show that total new loans, which include both new and renegotiated contracts, climbed to €514.9 million from €391.6 million the previous month....

473. Cyprus government rakes in over €424M in surpluses this year

Cyprus has reported a substantial budget surplus of €424.5 million for the first half of 2024, a huge increase from the €62 million surplus during the same period last year. ...

474. Vasilikos: Cyprus political figures and public officials to be summoned

The European Public Prosecutor's Office has launched an investigation into the construction contract of the Natural Gas Terminal (NGA) in Vasilikos, Cyprus....

475. Nicosia municipality embraces digital era, ends cheque payments

In a significant shift towards modernization, the Nicosia Municipality announced it will no longer accept cheque payments, urging residents to transition to electronic and card-based payment methods. ...

476. July Newsletter of K. Treppides & Co Ltd: European Securities and Markets Authority

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....

477. EU plans two-phase trade strategy if Trump wins presidency

Brussels is developing a two-phase trade strategy in response to the potential nomination of Donald Trump in the upcoming U.S. presidential election in November....

478. 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....

479. EU probes Vasilikos terminal over misuse of funds

The European Public Prosecutor’s Office (EPPO) has launched an investigation into the liquefied natural gas (LNG) import terminal project in Cyprus, citing suspicions of public procurement fraud, misuse of EU funds, and corruption. ...

480. 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....