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571. RIF launches €6M fund to foster innovation and economic growth

The Research and Innovation Foundation (RIF) announced on Tuesday a new call for the "Co-Develop" funding programme, with a total budget of €6 million, aimed at better leveraging resources and apply innovative solutions to real problems....

572. Anxiety grows over potential Iranian response to recent killings

President Joe Biden and Vice President Kamala Harris have been informed by national security officials that it remains unclear when Iran and Hezbollah might launch an attack on Israel, according to a U.S. official....

573. 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%......

574. Cypriot banks show resilience amid challenges, says CBC Governor

Despite the continuous challenges, the Cypriot banking system continues to register a positive course, which is reflected in the main supervisory indicators, Governor of the Central Bank of Cyprus (CBC), ...

575. 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....

576. GESY reserve fund soars to €590 million

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

577. 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....

578. 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....

579. Adnoc and BP engage in high-stakes Talks with Energy Minister

Officials from the United Arab Emirates' Abu Dhabi National Oil Company (Adnoc) and British multinational BP will be in Cyprus today, Friday, for meetings with Energy Minister George Papanastasiou. ...

580. Cypriot and foreign investors keen on Larnaca's €30M Marina project

Transport Minister Alexis Vafeadis announced significant interest from both Cypriot and foreign investors in the development of the Larnaca marina and port....

581. Two suspects in Limassol double murder remanded for 8 days

Two men, aged 19 and 23, were remanded for eight days on Friday in connection with a double murder investigation. ...

582. 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....

583. Athens on high alert over possible Israeli target attack

The National Intelligence Service (EYP) and counterterrorism authorities in Greece are on heightened alert after receiving a warning from foreign security services about a potential attack on an Israeli interest in Greece....

584. 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....

585. Larnaca Marina gets €30M upgrade, port project postponed

The government abandoned the joint development of the Larnaca port and marina, announcing on Thursday projects estimated at over €30 million to upgrade the marina and the surrounding area, heeding the suggestions of the city’s local stakeholders....

586. 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....

587. 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. ...

588. Real estate investment opportunities by AstroBank

AstroBank is selling an unfinished commercial building in Strovolos and other commercial, residnetal and agricultural properties that are ideal investment opportunities in Nicosia, Larnaca, Famagusta, and Paphos. ...

589. Eurobank to revamp Hellenic Bank's leadership in September

Eurobank is now focusing on the next steps following the completion of its tender offer for a 100% acquisition of Hellenic Bank, finalized on Tuesday, June 30, 2024. ...

590. 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....

591. 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....

592. Unlock a whole new world with the new mobile App of Ayia Napa Marina!

593. EU nations push back against von der Leyen’s dual nominee request

A power struggle is intensifying between EU member states and European Commission President Ursula von der Leyen over the composition of the new Commission....

594. Accident reveals 'mind-blowing' sulfur crystals on Mars

NASA’s Curiosity rover has made its most unusual find on Mars: rocks made of pure sulfur....

595. CBC enforces 11.76% cap on loan interest rates

The Central Bank of Cyprus, exercising its powers under article 314A of the Cyprus Penal Code, Cap.154, and in accordance with its provisions, determines the reference interest rate to be 11.76%....

596. EU Prosecutor probes Vasilikos LNG project for fraud

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

597. Cyprus eyes key EU portfolio in von der Leyen’s second commission

As EU member states finalize the 26 names for Ursula von der Leyen's second European Commission......

598. Large residential fields for sale by AstroBank

599. Mother accuses legal service of cover-up in Thanasis' death

Andriana Nikolaou, the mother of National Guardsman Thanasis Nikolaou, launched a new attack on the Legal Service following coroner Panikos Stavrianou's request to overturn a previous conclusion by death investigator Dorias Varosiotou....

600. Cyprus to decide on Great Sea Interconnector this August

Important decisions concerning the Great Sea Interconnector, an electric cable linking Cyprus and Greece, are anticipated in August. ...