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1741. Hellenic Bank rakes in €69.7 million in profits during Q1 of 2023

Hellenic Bank has reported a profit of €69.7 million for the first quarter of 2023, signaling a strong start to the year. ...

1742. Israeli deal fuels Cyprus arming Ukraine rumors

Cyprus has emerged in media reports as the 'unknown European country' that negotiated to buy Israeli Merkava tanks, fueling persistent rumors that dozens of the island’s Russian T-80 were set aside for Ukraine in a so-called swap deal...

1743. MPs move forward with divestment changes

MPs are displaying a resolute determination to press ahead with crucial changes to the divestment framework before the parliamentary summer recess....

1744. Excess renewable energy poses challenges for Cyprus

There is an excess production from renewable energy sources that could be extracted, stated the spokesperson of the Cyprus Transmission System Operator (TSO) to CNA....

1745. Bank of England raises interest rates to 5%

The Bank of England has raised interest rates by a half point to 5% as part of its efforts to combat high inflation and rising mortgage costs. ...

1746. Clear skies and gradually rising temperatures expected

Today's weather will feature predominantly clear skies with a gradual increase in cloud cover over the mountains during midday and beyond. Winds will initially be predominantly from the north to northeast direction, ...

1747. Cyprus Airways Upgrades Fleet to A220, Unveiling Joint Conference with Airbus at Paris Air Show 2023

1748. Total loans increase by €71 million, reaching €24.4 billion

Non-performing loans decreased by €105 million end of March 2023, compared to the end of December 2022, reaching €2.2 billion, according to data published by the Central Bank of Cyprus on Tuesday. ...

1749. Cyprus banks to double net interest income in Q1 2023

Net Interest Income (NII) for the Cypriot banking sector nearly doubled in the first quarter of 2023, driven by the ECB’s rising interest rates in a bid to contain inflation....

1750. Assessing Christodoulides' stance on the tourism sector

Judging from President Christodoulides' recent remarks on his 100-day governance report, it seems that the sectors of Shipping and Tourism are relatively low on his list of priorities....

1751. Health Ministry increases IVF subsidy to boost fertility rates

In an effort to combat under-fertility and bolster population growth, the Council of Ministers has approved a proposal to revise the subsidy scheme for infertility treatment in Cyprus. ...

1752. Cyprus anticipating a mild and varied summer weather pattern

The upcoming summer seems poised to deviate from the patterns observed in previous years, with Director of the Meteorological Service, Kleanthis Nicolaides, indicating prolonged periods of scorching heat may not be as prominent....

1753. Cyprus still vague on Ukraine swap deal

Cypriot President Nikos Christodoulides declined to say whether any of the island’s Soviet-made defense systems could end up in Ukraine, pointing to Turkey and budget concerns but also echoing a broader ambiguity as EU allies argue over the best defense strategy...

1754. The President's omissions and unaddressed issues

Flanked by his cabinet and through a 24-page document, the President of the Republic presented the program and actions of the government from his first day in office until today. ...

1755. Tourist arrivals soar as May 2023 records impressive 33.3% surge

The arrivals of tourists reached 420,076 in May 2023 compared to 315,018 in May 2022, recording an increase of 33.3%, according to data published by the Cyprus Statistical Service on Tuesday....

1756. President Christodoulides unveils government's 100-Day report card

During a press conference held today, President Christodoulides provided insights into the state of the government after his first 100 days in office and responded to various questions from journalists....

1757. Cyprus road deaths down 18% last year

There were 20,678 deaths on EU roads in 2022, a collective increase of 4% compared to 2021, according to the 17th Annual Road Safety Performance Index (PIN Report), released Tuesday, by the European Transport Safety Council (ETSC). Out of the 32 countries monitored by the PIN programme, only 13 registered a decrease in road deaths in 2022, compared to 2021. Slovenia was ranked first with a 25% reduction, followed by Latvia with 23% and Lithuania and Cyprus with 18%...

1758. Dubrovnik sees surge in tourism with 32% increase in arrivals

The mayor of Dubrovnik, Mato Frankovic, has made the decision to ban wheeled suitcases due to the noise they generate on the city streets. ...

1759. Ex ‘superminister’ defends proposal after boat disaster

A Cypriot former minister known for his tough stance on migration wants a yay or nay on his proposal where asylum applications could be filed abroad, a measure not supported by some capitals including Berlin, which may be having second thoughts in the aftermath of a boat disaster in Greece...

1760. New policies create passenger backlash at Limassol Port

On Sunday, a wave of reactions was triggered at Limassol port as citizens became aware of a new policy set to be implemented this year by the Deputy Ministry of Shipping. ...

1761. Construction materials prices stabilize as index drops in May

Construction materials prices started to stabilize in Cyprus, with the Price Index of Construction Materials decreasing 0.06% in May, compared to April, according to data published by the Cyprus Statistical Service on Monday. The Price Index of Construction Materials for May 2023 reached 135.51 units (base year 2015=100)....

1762. Weather update: Showers, clouds, and rising temperatures

Showers were observed in multiple areas of the island today (19/06). The Cyprus Meteorological Service has reported that the region is experiencing the influence of weak low pressure, leading to an afternoon characterized by partly cloudy to mostly cloudy conditions,...

1763. Maritime security partnerships for Cyprus

The Republic of Cyprus and the United States have achieved a mutually beneficial deepening of defense cooperation during their second meeting of the bilateral Security and Defense Dialogue....

1764. 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....

1765. Weather update: Weekend forecast and temperature trends

Tonight the weather will remain mostly clear. However, there might be scattered clouds initially, resulting in partly cloudy spells....

1766. Hourly labor costs in Cyprus rise by 5% in Q1 2023

According to provisional data released by the Statistical Service on Friday, hourly labor costs in Cyprus saw a 5% increase in the first quarter of 2023 compared to the same period the previous year....

1767. Pork prices on the rise

In response to the ongoing challenges caused by the pandemic and the conflict in Ukraine, the prices of meat have seen a steady increase, with pork now facing another surge. ...

1768. World's first space factory unveiled

A California-based startup co-founded by a SpaceX veteran, Varda Space Industries, announced it has successfully deployed its first satellite, W-Series 1, in orbit....

1769. Chocolate prices to surge

Chocolate enthusiasts should brace themselves for price hikes in the near future, as cocoa prices continue to soar. ...

1770. Dusty skies, showers in the mountains, and a temperature surge!

Today, Thursday, the weather will start off with mainly clear skies. However, as we move into the afternoon, expect to see an increase in cloud cover. ...