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1261. 'Nightmare' scenario for Europe as Russia shuts off gas pipeline

The main natural gas pipeline between Russia and Germany shut down for scheduled maintenance Monday, raising concerns that Moscow could use the repairs as a pretext for a longer shutdown as it wields energy supplies as leverage in the Ukraine war....

1262. EU rules on work-life balance officially enforced from August 2nd

As of August 2nd, all European Union Member States will have to apply the EU-wide rules to improve work-life balance for parents and carers that were adopted in 2019....

1263. Greece: Covid infected tourists no longer required to quarantine

A new government decision issued by the Greek authorities earlier this week has established that tourists who get infected with the COVID-19 disease while being in Greece will not be required to go into quarantine. ...

1264. Men work 7.5 years longer in Cyprus compared to women

The expected average duration of working life for 15-year-olds in the EU was 37.9 years in Cyprus in 2021, above the EU average of 36.0 years, according to data released by Eurostat, the statistical service of the EU....

1265. Boris Johnson has stepped down

After an acute political meltdown in the U.K., Prime Minister Boris Johnson has resigned as leader of the Conservative Party, setting in motion a race for a new prime minister....

1266. Unemployment down 53.8% from last year, but up 16.5% from last month

The number of registered unemployed persons at the end of June 2022 decreased by 53.8% compared to June 2021, based on (actual) data kept at the Provincial Labour Offices, falling to 12,332....

1267. Employee influence grows: 43% set to quit jobs for better pay, career opportunities and flexibility

Employees around the world now hold more sway in the global job market, with two-fifths (43%) of respondents saying they are likely to quit in the next 12 months according to the EY 2022 Work Reimagined Survey...

1268. Exness supports technology education in Cyprus through Robotex Platinum sponsorship

1269. Widower cries foul in Ayia Napa buggy fatality

A Swedish man whose wife was killed in an Ayia Napa buggy accident in early May is in the market for an appeal lawyer in Cyprus, with reports saying he has several questions after a British national was sentenced to one year through an expedited trial procedure...

1270. Herodotou: 'Interest rates should be increased gradually'

The Governor of the Central Bank of Cyprus, Constantinos Herodotou, said he was in favor of the ECB gradually increasing key interest rates while keeping its options open, stressing that the European Central Bank should consider the impact of each increase and act accordingly....

1271. Commission VP demands review of EU decision to trademark ‘Turkaegean’

European Commission Vice-President Margaritis Schinas has sent a letter to Internal Markets Commissioner Thierry Breton demanding a review of a decision to approve Ankara’s request to trademark the term ‘Turkaegean.’...

1272. Retail trade in the grip of inflation

The market is under intense pressure due to the inflationary trends of recent months with consumers appearing hesitant on their trips to retail stores. More shoppers are looking for special offers and refraining from impulsive buys....

1273. There is a conflict in US society

The decision of the US Supreme Court to abolish the right to abortion, leaving each state to judge the issue alone, has many "benefactors"....

1274. Russia defaults on foreign debt for the first time since 1918

Russia has defaulted on its foreign debt for the first time in more than a century as the country can't pay creditors due to sanctions over the war in Ukraine, according to media reports. ...

1275. EU leaders tackle inflation, energy shocks from Russia’s war

A day after endorsing Ukraine’s candidacy to join the European Union, the bloc’s leaders turned their attention Friday to the severe economic turbulence looming over the coming months as the full impact of Russia’s war sinks in and the threat of recession rises....

1276. Tourism stages comeback despite losses from Russian market

Tourist arrivals in Cyprus during May increased significantly compared to the same month of 2021, however, they were still lower compared to May 2019 and with obvious losses from the Russian and Ukrainian markets....

1277. Concerns over increasing drugs trafficked through occupied side

Cyprus Drug Law Enforcement Unit (DLEU) on Thursday expressed concerns that drug dealers may be using Turkey to transport illegal substances to the occupied areas and then to the Cyprus Republic. This comes after drug traffickers needed to find other distribution channels following the start of the war in Ukraine....

1278. Deloitte opens up nominations for its accelerator for the Deloitte Accelerator for Social Innovation (DASI) awards

Deloitte has opened up nominations for its signature programme Deloitte Accelerator for Social Innovation (DASI) in the Middle East and Cyprus, providing social enterprises in the region with the opportunity to grow and scale their impact. ...

1279. Germany a step closer to rationing after Russia cuts gas supplies

The German government formally placed its energy market on a war footing Thursday over Russia's sharp reduction of gas supplies, telling households to reduce consumption and warning that industrial output will be hit. ...

1280. Can something really come from Nothing?

A consumer electronics start-up called Nothing has secured financing of more than $200mn to launch its debut smartphone, in the first attempt for several years by a newcomer to crack a market dominated by Apple and Samsung....

1281. Russia accuses West of spreading lies about cause of world's food crisis

Russia on Wednesday said the West was spreading lies about the causes of the global food crisis which Moscow said was being stoked by the sanctions imposed on Russia by the United States and European Union due to the invasion of Ukraine....

1282. EY Survey: Energy security concerns reinforce government focus on renewable energy programs

Energy security has risen to the top of government priority lists in the wake of geopolitical instability and spiralling gas prices....

1283. 20 years of the Cayenne: The ‘third Porsche’ – an extraordinary success story

Ferry Porsche predicted it back in 1989: “If we build an off-road model according to our standards of quality, and it has a Porsche crest on the front, people will buy it.” He would go on to be proved right. ...

1284. Big disparity of fuel prices on the island

The highest price for Diesel has reached €1.999 in Cyprus, according to the Consumer Protection Service's Fuel Retail Price Observatory. ...

1285. Consulco brought together London and Limassol

An excellent dialogue took place during the hybrid conference ''Resilient Cities: London and Limassol'' organized by Consulco, on Thursday 16 June 2022 between London and Limassol, where speakers from Cyprus and Britain exchanged views on the two cities and their development. ...

1286. Ukraine takes first steps to EU membership

The European Commission has backed Ukraine and Moldova to become candidates for EU membership....

1287. The end of an era as Revlon files for bankruptcy

The US cosmetics group Revlon has filed for bankruptcy protection after battling supply chain problems and failing to compete with celebrity-backed and social media-savvy upstarts....

1288. Central banks across Europe jack up interest rates to fight inflation

Central banks across Europe raised interest rates on Thursday, some by amounts that shocked markets, and hinted at even higher borrowing costs to come to tame soaring inflation that is eroding savings and squeezing corporate profits....

1289. US Fed raises interest rates by .75%, largest hike in 30 years

The US central bank has announced its biggest interest rate rise in nearly 30 years as it ramps up its fight to rein in soaring consumer prices....

1290. Gaston Taratuta from Argentina named EY World Entrepreneur Of The Year™ 2022

Gaston Taratuta, Founder and CEO of Aleph Group, Inc. was named EY World Entrepreneur Of The YearTM 2022 at an award ceremony held in Monte Carlo on Thursday, June 9....