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601. Germany dims lights as it leads Europe in saving energy

Summer nights in the wealthy Bavarian city of Augsburg this year are eerily dark and quiet: The facades of historic buildings are not illuminated, street lights are dimmed and most of the fountains are not operating....

602. ECB raises interest rates .5%, with further rate hikes on the horizon

The European Central Bank (ECB) increased interest rates by more than expected on Thursday, raising its benchmark deposit rate by 50 basis points to zero percent, impacting the Cyprus banking system and local borrowers....

603. Italy's PM resigns spelling trouble for Europe

Italian prime minister Mario Draghi has resigned, ending a national unity government formed to tackle unpopular reforms and spelling trouble for Europe at a time of acute economic challenges....

604. EY announces US$1b investment in a next generation technology platform to facilitate trust, transparency and transformation through assurance services

EY announced an investment of more than US$1b in a next generation assurance technology platform – part of a sustained focus on providing high quality audits and responding rapidly to changing expectations from regulators, governments, standard setters, audit committees and boards. The four-year investment is enabled by a wider US$2.5b program, announced by the EY organization in September 2021....

605. Medicover awarded at the 10th Invest Cyprus International Investment Awards

Medicover was honoured at the prestigious 10th Invest Cyprus International Investment Awards, which recognize foreign companies, individuals, and investors for their contribution to the country’s economy....

606. Three times as many Cypriots traveled abroad in June

Cypriots and Cypriot residents traveling abroad increased more than three-fold in June compared with June of last year according to data released by the Statistical Service of Cyprus (Cystat)....

607. Minister: Ukraine needs assurances to resume grain exports

The Ukrainian foreign minister says grain exports from his country’s ports won’t resume without security guarantees for ship owners, cargo owners and Ukraine as an independent nation....

608. 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....

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

610. 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....

611. 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.’...

612. 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. ...

613. 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....

614. 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....

615. 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....

616. 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....

617. 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. ...

618. 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....

619. 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....

620. 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....

621. Cyprus tourist arrivals reach 80% of 2019 numbers

Tourist arrivals in Cyprus during the period January-April 2022 have reached 80% of the numbers recorded in 2019, which was a record year for Cyprus tourism, the Deputy Minister of Tourism, Savvas Perdios, has said....

622. Cyprus feeling the effects of Russian flight ban

Cyprus' tourism industry is taking a huge hit from the lack of Russian and Ukrainian tourists, with an estimated loss of €600 million this year alone....

623. Russia will free up Ukrainian ports to allow grain exports

Russia and Turkey on Wednesday voiced support for the creation of a safe maritime corridor in the Black Sea so Ukraine can export grain to global markets amid an escalating world food crisis....

624. EY announces 4 new Partners in Cyprus and welcomes new Head of Consulting

EY Cyprus Country Managing Partner, Ronald Attard, has welcomed the announcement of 4 new partners to the Cyprus practice....

625. The biggest scam in higher education - the master's degree

It's graduation season. Over the past couple of weeks, some 2 million college students have earned their bachelor's degrees and headed off to the next stage of their lives....

626. Lavrov in Turkey to discuss plans to ship Ukrainian grain

Russian Foreign Minister Sergey Lavrov is due to hold talks Wednesday with Turkish officials on a plan that could allow Ukraine to export its grain through the Black Sea to global markets amid an escalating food crisis....

627. Blood Donation Day

In support to the Nicosia General Hospital blood bank and as part of its CSR initiatives, KPMG in Cyprus organised a blood donation day at its premises at Nicosia, on 31 May. ...

628. Global IPO market experiences significant slowdown in Q1 2022

629. 885,000 passengers passed through Larnaka and Pafos airports in May

According to a press release by Hermes Airports, passenger traffic in May is at 78.3% of the corresponding month of 2019, a year in which a record passenger traffic was recorded at Larnaka and Pafos airports....

630. RICS Cyprus Property Price Index with KPMG in Cyprus announces results of Q1 2022

KPMG in Cyprus announces that the “RICS Cyprus Property Price Index with KPMG in Cyprus” has been issued for Q1 2022...