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91. Trade deficit slashed by 20% in 2024 amid falling imports

Cyprus saw its trade deficit shrink by over 20% in the first half of 2024, according to the latest data from the Statistical Service. The trade deficit, which is the difference between what the country imports and exports, fell to €3.57 billion, down from €4.48 billion during the same period in 2023....

92. Cyprus’ green energy struggles as market changes loom

Cyprus is gearing up for a major shake-up in its electricity market by 2025, but concerns are growing over how this will impact investments in renewable energy....

93. First phase of Nicosia highway opens, connecting major cities

The completion of the Nicosia Peripheral Highway project will ensure seamless and continuous traffic flow between western Nicosia and Larnaca......

94. Cyprus boosts R&D Funding by nearly 20%, spending €138M in 2023

Cyprus significantly boosted its investment in research and development (R&D) in 2023, with government budget allocations rising by 19.8% compared to the previous year, according to new data from Eurostat. This increase is notably higher than the average 5.3% rise observed across the European Union during the same period....

95. First section of Nicosia's new motorway opens August 8

The first phase of the Nicosia Peripheral Motorway (A1) will open to traffic on Thursday, August 8, 2024, at 12:00 p.m., the Public Works Department announced....

96. Salmon return to Derbyshire river for first time in a century

After years of feeding in the ocean, these salmon have an incredible ability to return hundreds of miles upstream to the same river stretch where they were born to breed and lay eggs....

97. Philippine tanker sinks, spilling 1,500 tons of fuel

A marine tanker carrying industrial fuel sank in rough seas off the Philippines on Thursday, causing a large oil spill as coast guard rescuers searched for a missing crew member, officials said....

98. Turn your land or roof into income and help combat climate change

As the world grapples with the intensifying effects of climate change, marked by record-breaking temperatures from June 2023 onwards, the call to shift towards sustainable practices has never been more urgent....

99. Polis Chrysochous plans industrial zone, €141M investment

The municipality of Polis Chrysochous is set to undergo a transformative development phase with planned projects totaling €141 million over the coming years, as announced by Mayor Yiotos Papachristofis. ...

100. 'Land of Tomorrow' set to transform Larnaca's coastline

The coastal community development project, ''Land of Tomorrow,'' is set to transform the industrial image of Dhekelia in Larnaca into a modern and sustainable urban environment. ...

101. Cyprus exports decline sharply while imports see a modest rise

Cyprus saw its trade deficit grow in May 2024, largely due to a significant drop in exports and a slight increase in imports, according to recent data from the Cyprus Statistical Service. The trade deficit for May 2024 was €693.4 million, up from €578.2 million in May 2023....

102. Industries expanded in 2022 as Cyprus saw more jobs, higher production

Cyprus saw more people employed in factories and related industries in 2022 compared to the year before, with a 3% increase in jobs. The value of goods produced also went up significantly by 21.2%....

103. Resolution on drug shortage issue expected next week

Health Minister Michalis Damianos anticipates a solution to the ongoing drug shortage issue by early next week, he announced Friday....

104. Cyprus President meets business leaders on HR, energy, and tax

105. Government halts heavy industry in Vasilikos

The Cypriot government has granted a long-standing request from the Vasilikos area's coordinating committee, prohibiting further heavy industry licensing in the region....

106. Propane tank explosion in Turkey kills 5, injures 63

A propane tank explosion at a restaurant in Izmir, Turkey, has claimed the lives of at least five people and injured 63 others....

107. Illegal residency soars in occupied Cyprus

The number of illegal residents in occupied Cyprus has surged to 83,000, marking a significant increase in undocumented individuals, according to data released by the "Ministry of Interior" and reported by Yeni Duzen newspaper....

108. Government extends subsidies to ease cost of living crisis

The Cabinet approved a proposal on Wednesday by Finance Minister Makis Keravnos to extend measures aimed at compensating for the living costs of Cypriot households. Government Spokesperson Konstantinos Letymbiotis announced the decision following the Cabinet meeting....

109. Real estate investment opportunities by Astrobank

Two apartment complexes, residential fields, and other properties in various areas of Cyprus that are ideal for investment have been listed for sale by AstroBank....

110. Newly elected leaders of Nicosia District officially announced

The newly elected mayors, municipal councilors, school superintendents, community mayors, and community council members of the Nicosia district were officially proclaimed on Tuesday....

111. Cyprus trade deficit shrinks by €708 million

The trade deficit in Cyprus decreased by €708 million in January-April 2024 compared to the same period in 2023, driven by a significant 18.4% drop in imports, according to the Statistical Office....

112. Keravnos continues to call on banks to slash interest rates

Finance Minister, Makis Keravnos, called on local banks to slash interest rates, emphasizing the urgency for change in the financial landscape. Keravnos's remarks come just before the European Central Bank's Governing Council convenes,...

113. Little penguins dwindle to 120 amid port development threats

A once-thriving population of little penguins on a tourist island off Perth’s coast has plummeted to no more than 120 birds, with plans to build a container port in nearby foraging grounds further threatening the survival of the colony....

114. AstroBank: Investment opportunities in Paphos

AstroBank is selling a shop at the Paphos town centre as well as agricultural and residential plots elsewhere in the district that are ideal for investment....

115. Cypriot maritime leader honored with IMO Gender Equality Award

Despina Panayiotou Theodosiou has been honored with the International Maritime Organization (IMO) Gender Equality Award for her outstanding contributions to promoting gender equality and women's empowerment in the maritime industry. ...

116. Putin picks economist Belousov as defense chief, Shoigu switches gears

Russian President Vladimir Putin tapped a civilian economist as his surprise new defence minister on Sunday in an attempt to gird Russia for economic war by trying to better utilise the defence budget and harness greater innovation to win in Ukraine....

117. Limassol authorities detain suspect in €140K cable and tool theft

In a significant development, law enforcement officials have apprehended a 37-year-old individual on Sunday in connection with the brazen theft of cables and tools valued at €140,000 from a cargo container in the Limassol area....

118. Pope Francis urges Italians to increase birth rates

Pope Francis pressed his campaign Friday to urge Italians to have children, calling for long-term policies to help families and warning that the country’s demographic crisis was threatening the future. ...

119. Why Cyprus has the edge in Hydrogen technology

George Pechlivanoglou studied mechanical engineering (BSc) and completed the MSc in renewable energy technology at the University of Oldenburg, Germany....

120. Firefighters continue to battle raging blaze in Agios Syla

A fire that broke out yesterday afternoon in the industrial area of Agios Syla in Limassol has prompted aerial water drops since the first light of day....