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2461. Cypriot banks dump Russian client accounts

Russian nationals in the Republic of Cyprus are facing bank account closures as the island’s financial institutions are choosing to axe client accounts to avoid sanction violation risks, but some fear an indiscriminate sweep may affect innocent customers...

2462. Cyprus tourism surges with 61% increase in Q1 2023

Tourist arrivals to Cyprus went up by 61% during the first quarter of 2023, reaching 393,893, compared to 244,705 in the corresponding period of 2022, according to data published by the Cyprus Statistical Service on Tuesday....

2463. More Greek riddles as Ukraine seeks S300

Ukrainian Defense Minister Oleksii Reznikov says his recent trips abroad including a visit to Cyprus have been 'very important' as Kiev still negotiates for Soviet-made missiles ahead of the next Ukraine Defense Contact Group in Germany...

2464. Kaili to go home after denying all charges

Greek MEP Eva Kaili, the former European Parliament vice president accused of corruption, is said to be released from custody while still facing charges, with her lawyers saying he would not admit to crimes she did not commit...

2465. Three major concerns of ECB regarding Cypriot banks

Although Cypriot banks have made great progress over the last decade, foreign supervisors have reservations and summarise their concerns in three areas....

2466. Italy declares state of emergency

To deal with the recent influx of migrants arriving on the southern shores of Italy, the country's right-wing government has announced a six-month nationwide state of emergency....

2467. Government casual staff up, permanent down 3.3%

Total government employment decreased by 3.3% in March 2023, compared to March 2022, according to data published by the Statistical Service on Tuesday. Total persons employed by the Government amounted to 1,778 and reached 52,103 persons...

2468. Rome reportedly okays Lukoil sale to Cypriot firm

Italy gave conditional approval on Tuesday to the sale of the Lukoil-owned refinery in Sicily to Cypriot private equity firm GOI Energy, people familiar with the matter told Reuters...

2469. Finance Ministry says viral photo of server room is 'fake news'

A photo that has gone viral on social media shows a supposed flooded server room at the Ministry of Finance, which caused the shutdown of several government websites on Monday....

2470. IMF projects steady GDP growth for Cyprus in 2023

The International Monetary Fund (IMF) maintained its projection for Cyprus’ economic growth in 2023 at 2.5% of GDP, while real GDP growth is expected to pick up pace in the next year....

2471. Bookings for Cyprus-Piraeus route opens tomorrow

The booking system for the Cyprus – Piraeus route will open on Tuesday for those passengers who wish to travel to Greece by sea, Shipping Deputy Minister Marina Hadjimanolis said Monday....

2472. Are you ready for ChatGPT to take over your job?

Since its release in November of last year, OpenAI's ChatGPT has been used to write cover letters, create a children's book, and even help students cheat on their essays....

2473. Cypriot fund facing mighty resistance in Lukoil deal

Efforts to dispel US concerns over suspected Russian influence in a Cypriot fund buying a Lukoil plant in Sicily may be gaining traction with Italian officials, with reports suggesting American resistance may be losing ground after a crucial meeting last week...

2474. Protecting EU borders: The rise of border walls against third country migrants

The increasing number of illegal migrants reaching the European Union and Schengen Area Member States has pushed states to take different approaches to tackle their activity, including erecting walls or physical barriers at the borders....

2475. Cypriots buy more food than needed

A recent report has found that Cypriots have a tendency to purchase more food than they actually need, leading to unnecessary waste and higher expenses...

2476. Macron's mission in China: Convincing Xi on Ukraine

2477. President says petty politics not behind IMO decision

Political criticism in Nicosia over not backing an ex-minister to lead a UN international shipping agency continues to dominate headlines this week, with President Nikos Christodoulides rejecting allegations that a lack of support was out of spite due to presidential election preferences...

2478. Delays unclear over Cypriot-fueled Lukoil deal

An executive power committee in Italy has missed an initial deadline for approving the sale of a Russian refinery plant to an Israeli-backed Cypriot fund, with reports in the media getting blurred between fears over Russian influence and high-stakes geopolitical interests across the pond...

2479. Easter holiday boosts air travel in Cyprus by 26%

April will kick off the summer tourist season with satisfactory arrivals and hotel occupancies for the Easter period. Since last week, demand for travel has started to rise from foreign tourists, ...

2480. Lack of legal protection in EU adoptions

Intercountry adoption is the adoption of a child habitually resident in one state by parents habitually resident in another state, as defined in Article 2 of the 1993 Hague Convention, which ensures cross-border recognition of adoptions. However, in practice, additional procedures are required for its recognition in certain States, including EU Member States....

2481. Investors flock to 'green' bonds as a secure investment

2482. Greek minister on rare visit to Turkey as tensions ease

NATO members Turkey and Greece can resolve their disputes through peaceful means and dialogue, Turkey’s defense minister said after talks with his Greek counterpart Tuesday, in the latest sign of easing tensions between the rival neighbors...

2483. UN report reveals 47 mine-contaminated areas in Cyprus

According to data from UNFICYP, 47 suspected hazardous areas in Cyprus could be contaminated with mines and/or explosive remnants of war (ERW), covering roughly 1.7 million square meters of land....

2484. Prem Watsa: 'Greek banks are safer'

Greece has entered a virtuous cycle of growth, and the next few years will be especially beneficial to the economy and Greeks if political stability is maintained and business-friendly policies are implemented....

2485. Finland PM ousted, conservatives win tight vote

Finland’s main conservative party claimed victory in parliamentary elections Sunday in a tight three-way race that saw right-wing populists take second place, leaving Prime Minister Sanna Marin’s Social Democratic Party in third, dashing her hopes for reelection...

2486. Turks cry foul over Cypriot army link to New Jersey

Ankara says it will 'never allow any harm to come to the Turkish Cypriots' while condemning US policy towards Cyprus, including an agreement last week between Greek Cypriot and New Jerseyan armies on a program viewed as a potential precursor to NATO...

2487. Cyprus' hourly labor costs below EU average at 19.4 euros

The average hourly labor costs in Cyprus increased from €18 in 2021 to €19.4 in 2022, according to Eurostat. Hourly labor costs were the lowest in the EU in Bulgaria (€8.2) and Romania (€9.5), and highest in Luxembourg (€50.7), Denmark (€46.8) and Belgium (€43.5). ...

2488. BP and ADNOC's bold bid for the Leviathan field

Last Tuesday, British multinational oil giant BP and Emirati Abu Dhabi National Oil (Adnoc, the UAE's state oil company) announced a joint bid to buy 50% of Israel's NewMed Energy in a $2 billion deal. ...

2489. President briefs political leaders on Cyprus and other issues

The President of the Republic, Nikos Christodoulides, chaired the first session of the National Council at the Presidential Palace on Thursday morning (30/03). ...

2490. FinMin stresses importance of stable legislation for out-of-court auctions

The Finance Ministry has stressed the importance of having stable legislation regulating out-of-court auctions, in tandem with an effective insolvency framework in order to achieve a reduction of bad loans....