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1501. More hotels to stay open during winter

Cyprus hoteliers say the occupancy rate has reached or exceeded 90%, with officials expecting good performance through the end of the year despite Russian numbers dwindling...

1502. Merkel endorses Euro clearing move from London to Frankfurt

1503. Cyprus goes all out in the maritime insurance game

Cyprus has been a serious contender in the maritime and shipping industry, but recently it emerged as one of few unbeatable alternatives for big foreign P&I clubs looking to set shop home away from home...

1504. Turkish Cypriots to touch base with Ankara

Turkish Cypriot officials are reportedly getting ready for a trip to Ankara where they will discuss the Turkish economic crisis and its impact on the northern part of the island...

1505. Additional revenues of 4.7 billion euros needed to reach targets

The Greek government will have to collect additional tax revenues of 4.7 billion euros in the first post-bailout period of enhanced supervision (2018-2022) by its creditors, in order to achieve the agreed primary surpluses and record surpluses....

1506. Come back, support Greece

We are caught between celebrations over Greece’s “clean exit” from the bailout programs on one hand and, on the other, allegations that the country has effectively signed up to what can be considered a “fourth memorandum” and is headed to economic disaster....

1507. Shadows loom over government’s ‘clean exit’ scenario

Greece’s bailout exit has been eliciting condescending and bitter commentary on the country’s beaches and in its near-deserted cities, as few Greeks believes their lives are going to improve or that the country’s prospects will be akin to those of other bailed-out eurozone states. Greece’s “return to normalcy” and “clean exit,” much touted by the government, appear to be happening somewhere else....

1508. Regling says Greece will remain linked to ESM

Greece will be monitored more closely by the European Stability Mechanism (ESM) and the other institutions after its bailout ends six days from now compared to other countries that emerged from rescue programs, according to ESM chief Klaus Regling....

1509. Petrides announces 5 mln euros for development projects in 94 communities

Interior Minister Constantinos Petrides has announced that 5 mln euros have been allocated for this year to carry out 115 small development projects in 94 communities mostly in the mountain regions of the island....

1510. Global jitters hit Greek bonds

Just days before Greece is to emerge from its international bailouts, upheaval in international markets took a toll on Greek bonds on Thursday, driving yields up above 4 percent....

1511. Cops out and about to promote seat belts

This week’s road safety awareness campaign focuses primarily on the use of seat belts and child seats, all of which were contributing factors in recent fatal accidents...

1512. Officials step up efforts against fires

Cypriot and European authorities are on the lookout for new wildfire threats, as two local fires on Saturday, one in the northwest and one in the southeast, were caused by human action...

1513. Unions okay with CCB severance package

Union employees at Cyprus Cooperative Bank have agreed to sign up on a severance package plan this summer, ahead of a takeover by Hellenic Bank, saying it can contribute to labour peace...

1514. Greek bank deposits rise in June for fifth month in a row

Greek bank deposits rose in June for a fifth consecutive month, increasing by 1.3 billion euros ($1.52 billion), central bank data showed on Wednesday....

1515. Investing in knowledge

A growth rate of 1.9 percent is way too small for a country like Greece, especially as the rest of Europe’s performance is so much more robust. This is, after all, a country that shed 25 percent of its gross domestic product (GDP) in the course of a decade. What we should be seeing, therefore, is the effect of a tightly wound spring, whereby a virtuous cycle of growth begins and only gets faster with time. Instead, we’re hobbling along at 1.9 percent, the slowest rate an economy can achieve after hitting rock bottom....

1516. Moody’s says BoC better off after UK sale

Rating Agency Moody’s has described the sale of Bank of Cyprus UK as credit positive, noting that the sale would place Bank of Cyprus in a better position to focus on reducing its domestic high stock of problematic loans...

1517. Cabinet okays homeowner plan ahead of crucial House session

The Cabinet approved on Tuesday the “Estia” scheme aimed at addressing the high volume of non-performing loans in the Cypriot banking sector, but time is running out as a crucial legislation package on bad loans is also up for a vote on Friday...

1518. Cyprus jobless drop in May biggest in the EU

Cyprus recorded the largest unemployment drop in the European Union for May 2018, dropping to 8.4% from 8.6% the previous month...

1519. ND: Tsipras's 'delusions' delayed debt deal by four years

Commenting on the debt deal for Greece secured at the Eurogroup summit early on Friday, conservative New Democracy said that agreement could have been achieved in 2015 if Alexis Tsipras, then opposition leader, had not been "peddling his delusions on the backs of Greek citizens."...

1520. Mediterranean diet is falling out of favour with southern Europeans

Recent data found that in Italy, Cyprus, Spain, Malta, Greece and San Marino, one in five boys were obese...

1521. Cyprus forecasts high GDP growth of 3% plus until 2021

High growth rates exceeding 3% of the GDP and high primary surpluses are projected until the year 2021 in the Strategic Fiscal Policy Framework (SFPF) 2019-2021, which was approved by the cabinet...

1522. Cyprus has lowest annual inflation in the EU

Cyprus registered the lowest annual inflation in the European Union for April 2018, with a rate of -0.3%, according to Eurostat....

1523. Cyprus GDP growth is creating more jobs

Bailed out eurozone member Cyprus notched up its 13th consecutive quarter in positive growth with GDP rising 0.8 percent in the first quarter, an official estimate showed...

1524. Are Britons really bothered about royal wedding?

There is no doubt that the wedding of Prince Harry, Queen Elizabeth’s grandson and sixth-in-line to the throne, and Hollywood actress Markle, star of TV drama “Suits”, has the media transfixed...

1525. Bank of England keeps powder dry on rate rise

The Bank of England held interest rates and said weak growth during a snowy start to 2018 was likely to be only temporary, but it wanted to see a pick-up in the economy in the next few months before raising borrowing costs...

1526. MPs halt medical cannabis bill due to recent crimes

Members of the House are turning against a medical marijuana bill, citing recent horrific crimes on the island and fears they may be linked to the use of cannabis. But studies suggest that decriminalisation has actually helped violent crime rates drop considerably....

1527. EBRD more upbeat about Cyprus growth rate

The European Bank for Reconstruction and Development has revised significantly its projection for Cyprus’ economic growth rate this year, in the context of a wider upward revision of its forecasts for the EBRD regions...

1528. Experts says Cyprus economy to grow by 3.8% this year

The Cypriot economy will pick up momentum in 2018, the University of Cyprus’s Economic Research Centre predicts, upgrading its growth forecast to 3.8% compared with its previous projection of 3.6%. ...

1529. EU predicts strong growth as unemployment declines

The Commission foresees a "strong growth momentum continuing" in the coming years, but warned of risks widening...

1530. Russian tourist arrivals expected to drop this year

Holiday reservations appear to be down this time of the year but experts believe things could be on the upswing again, even as Russian arrivals in Cyprus take a hit due to competition from Turkey...