Search

391. 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....

392. 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....

393. Potato harvests increase in 2023 but long-term decline persists

Cyprus witnessed a modest increase in potato production in 2023, with 95,000 tonnes harvested, marking a 5.6% rise from the previous year, according to recent data from Eurostat, the European Union's statistical office....

394. Eurozone service output stable in May, up 2.5% yearly

The production of services remained more or less stable in the eurozone (down -0.1%) and in the EU (+0.1%) in May 2024 compared to April, while increasing compared......

395. Famagusta to target global tourists with new campaign

396. 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....

397. MultiCare Elite – The New Top-tier Health Plan from Universal Life

Universal Life, the insurance company with the most experience and expertise in the Health sector in Cyprus, proudly announces the launch of MultiCare Elite....

398. Tatar: ''No common ground for trilateral meeting''

In a recent statement, Turkish Cypriot leader Ersin Tatar asserted that he has not received an official invitation for a trilateral meeting with UN Secretary-General Antonio Guterres and President of the Republic Nicos Christodoulides. Tatar emphasized that there is no common ground or necessary conditions for such a meeting....

399. Children to craft their own play inspired by Nicosia's history

The Nicosia International Festival 2024, which actively participates in Nicosia’s candidacy for the European Capital of Culture 2030, is developing its theatrical co-creation workshop "Exploring the Theatre", with the support of the Leventis Municipal Museum of Nicosia....

400. Uber to add 100,000 electric cars to its global fleet

Uber has announced a deal to integrate 100,000 electric vehicles (EVs) from China's BYD into its global fleet....

401. 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....

402. Greece battles major sheep and goat plague in 11 regions

New cases of sheep and goat plague are expected in Greece, with 35 outbreaks already reported across 11 of the country's 13 regions, according to Agriculture Minister Kostas Tsiaras. Movement and slaughter bans will remain in effect next week to curb the spread....

403. Cyprus inflation slows in July after three months of rising costs

Inflation in Cyprus took a breather in July after three months of climbing prices. According to new figures released by the Cyprus Statistical Service, the cost of living went up by 2.1% in July. ...

404. Father arrested for negligence in death of newborn in Nicosia

A case of severe negligence leading to the death of a three-month-old baby girl has shocked Cyprus. Authorities have arrested the 23-year-old father and are seeking the 22-year-old mother, who is believed to have fled to Greece....

405. 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. ...

406. Record surge in olive oil fraud amid rising prices of 'liquid gold'

The European Union reported a record number of potential olive oil fraud and mislabeling cases in the first quarter of 2024, driven by inflationary pressures and a growing hidden market for the kitchen staple....

407. 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....

408. Paris apologizes for religious imagery in Olympic opening show

The Paris 2024 Olympic opening ceremony, held on July 26, 2024, faced both controversy and mixed reviews. ...

409. Lidl Cyprus celebrated the opening of its 3rd store in Paphos and 21st store in Cyprus

In a major expansion of its retail network, Lidl Cyprus opened its newest store in the Neon Mall of Pafos on Wednesday 24 July, marking the 3rd Lidl store in a row in the Paphos district and the 21st in Cyprus. ...

410. July Newsletter of K. Treppides & Co Ltd: Cyprus Securities and Exchange Commission

A new issue is out from the newsletter by K. Treppides & Co Ltd, a leader in financial advisory and consulting services with offices in three countries....

411. High electricity costs in Cyprus due to lack of renewables

As high temperatures drive increased energy demand in Cyprus, the island remains heavily reliant on mazut for electricity production....

412. EU reviews impact of Chinese exit from Vasilikos' LNG terminal

The European Commission is assessing the potential impacts on project funding following the withdrawal of a Chinese consortium from the construction of the LNG terminal in Vasilikos, a spokesperson for the European Commission confirmed....

413. Market changes, Eurobank's move, and economic struggles

Bank of Cyprus shares were delisted from the Athens Stock Exchange following the 2013 financial crisis and the turbulent merger with Laiki Bank, including the depositor haircut...

414. Inland temps to hit 42°C today

The Department of Meteorology has issued a yellow warning for Monday, effective from 11 a.m. to 5 p.m......

415. Erdogan and Tatar reject federal solution on 50th anniversary (pics)

Yesterday marked the 50th anniversary of the Turkish invasion of Cyprus in July 1974. Over half a century later, Cyprus remains in the same status quo as it had after that fateful day. Consequently, poignant memorials were held across the island, including in the occupied areas....

416. Chamber of Commerce warns of risks from Cyprus’ 1.5% wage hike

The Cyprus Chamber of Commerce and Industry (CCCI) has expressed concern over a new agreement between the Ministry of Finance and public sector unions to grant a 1.5% general wage increase starting in October 2024....

417. June sees price hikes on essentials as inflation rises

Get ready to pay more for everyday items! Prices for many essential goods jumped in June, driving up inflation to 2.9%. This follows a steady rise from 2.4% in April and 2.7% in May....

418. Biden tests positive for COVID-19, shifts duties to Delaware

President Joe Biden has tested positive for COVID-19 while on a trip to Las Vegas, the White House confirmed Wednesday. ...

419. Soaring insurance costs push global shipping rates up 233%

Global trade has faced immense pressure since last October when the war in the Near East erupted following the terrorist attack by the Palestinian group Hamas against Israel. ...

420. Yellow heat warning issued for today

The meteorology department has issued a yellow warning for high temperatures, effective from 1:00 p.m. to 4:00 p.m. today. We're expecting the interior to reach a scorching 41 degrees Celsius....