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61. Banks under fire: How public pressure forced a shake-up

Over the past decade, Cypriot banks have paid over €500 million to the state through a special levy known as the ''double tax.''...

62. Bank of Cyprus rolls out support measures for vulnerable groups

After a tense voting session last week, when the bill to tax bank profits narrowly failed to pass in Parliament, the Bank of Cyprus seems to be stepping up with measures aimed at helping vulnerable communities across the island. ...

63. Banks announce 1% interest rate reduction

Following the parliamentary approval of the state budget and Tuesday’s meeting at the Presidential Palace with the CEOs of Bank of Cyprus and Hellenic Bank, Finance Minister Makis Keravnos appeared on RIK’s program Challenges on Wednesday evening....

64. Tariffs, reforms, and rate cuts: 2025’s economic balancing act

As we look ahead to 2025, experts at UBS are forecasting steady global economic growth, but not without a few bumps along the way....

65. Pope Francis urges families to ''make children'' during first visit to Corsica

In his first-ever visit to Corsica, Pope Francis delivered a clear message about the need for more children, urging families to embrace parenthood amid declining global birth rates. ...

66. Trump pushes to end daylight saving time

In a recent statement, newly elected U.S. President Donald Trump announced that the Republican Party "will make every effort" to end the practice of daylight saving time (DST), a twice-yearly clock change that shifts the country from winter to summer time....

67. ECB announces final rate cut for 2024

The European Central Bank (ECB) has announced a 25 basis point reduction in interest rates, marking the fourth consecutive cut for 2024....

68. MPs set to vote on over 100 bills today, including 5% tax on banks and car recalls

In today's last plenary session before the Christmas holidays, Cypriot MPs will vote on over 100 bills and legislative proposals, with attention focusing on several high-profile issues....

69. Moody’s Nick Hill on financial risks and opportunities for 2025

In an insightful conversation with Kathimerini's Panayiotis Rougalas, Nick Hill discusses the key macroeconomic risks and opportunities facing the region in 2025....

70. Government launches mortgage subsidy to ease inflation’s grip

The government of Cyprus is stepping up to help homeowners struggling with rising interest rates and inflation....

71. Stella Michaelidou, AIDS NGO president, arrested in alleged €122K fraud case

Police have arrested Stella Michaelidou, the 66-year-old president of the Support Centre for People Living with HIV/AIDS (K.Y.F.A.A.), amid serious financial fraud charges....

72. Geopolitical turbulence presents a looming threat to 2025 economic growth

Speaking at the 20th Economist Conference in Nicosia, Nick Hill highlighted the macroeconomic and geopolitical challenges shaping the global financial environment....

73. Study reveals high-dose IV vitamin C combined with chemotherapy improves survival in advanced pancreatic cancer

74. Business loans on the rise in Cyprus, but consumer borrowing takes a hit

Cyprus experienced a rise in net new loans in October, driven primarily by businesses borrowing more, especially for amounts exceeding €1 million. ...

75. Ministry mulls subsidies for 'vulnerable' boat owners amid Marina fee dispute

The Ministry of Transport, Communications, and Works is considering subsidies for "vulnerable" boat owners, sparking a mix of curiosity and skepticism over who qualifies as "vulnerable" in this context....

76. Affordability, Urbanization, and Sustainability: How Real Estate in Cyprus, Greece, and Romania Will Evolve by 2029

The next five years will redefine the real estate markets of Cyprus, Greece, and Romania....

77. Cybersecurity and ICT risks emerge as leading drivers of operational risk

Geopolitical tensions have significantly increased operational risks, particularly in the areas of cyber and digital threats, as well as risks related to money laundering and sanctions compliance....

78. Government expands subsidized electricity rates for vulnerable households

The Cyprus Electricity Authority (EAC) announced an important update regarding its special household tariff for vulnerable consumers, known as Code 08...

79. Cyprus receives major credit rating boost from Moody’s

Last Friday, Moody’s delivered a major endorsement of Cyprus’ economic progress, upgrading its credit rating by two notches, from Baa2 to A3, with a stable outlook, according to a report by Panayiotis Rougalas. ...

80. Greek hoteliers sue booking.com over equal pricing rules

Greek hoteliers, led by the Hellenic Chamber of Hotels (HCH), are preparing to take legal action against Booking.com, claiming damages that could total tens of millions of euros....

81. Geoeconomic tensions and Cyprus: Staying the course amid challenges ahead

Geoeconomic fragmentation, the reversal of progress towards global economic and financial integration due to political and military conflict and strategic policy decisions, is rising....

82. Pronomia scheme: Travel benefits for 125 lucky contestants

The countdown to Christmas has begun, and Bank of Cyprus is getting its customers in the festive mood, in a special way. The ‘pronomia’ loyalty scheme will give 125 lucky winners the chance to travel and enjoy new, unique experiences....

83. 50 million luxury shoppers pull back as market slows

For the first time since the 2009 financial crisis, the luxury goods market is losing its shine. A whopping 50 million shoppers have stopped splurging on designer bags, watches, and other high-end items, according to Bain & Company’s latest report....

84. DBRS Morningstar: Cyprus shows strong recovery in tackling bad loans

Cyprus is starting to see some positive shifts in its financial sector, particularly when it comes to tackling non-performing loans (NPLs) – loans that borrowers have stopped paying. ...

85. Yet another contractor gets axed over major project delays

Cyprus’s Ministry of the Interior has terminated the employment of the engineer and contractor for the Liopetri Fishing Shelter and River Restoration Project due to long-standing delays and unmet contractual obligations, according to an announcement by the ministry....

86. Study links air pollution during pregnancy to heightened autism risk

New research suggests that air pollution exposure during pregnancy may increase the risk of autism in babies with a genetic predisposition for the condition, according to a study by Dr. Haitham Amal and his team at the Hebrew University of Jerusalem....

87. Bank of Cyprus reports €401 million profit surge

In the latest financial report, Bank of Cyprus has reported a solid profit of €401 million for the first nine months of 2024—a 15% jump from last year’s €349 million. ...

88. Part-time work declines in Cyprus, gender gap narrows

In 2023, the share of part-time workers in Cyprus for those aged 20-64 was at 8%, a slight drop from 9.1% in 2022. This trend of declining part-time work has been consistent in Cyprus since 2014...

89. Staff shortages stall local government reform in Cyprus

According to Kathimerini's Pavlos Neophytou, the implementation of Local Government Reform in Cyprus faces critical staffing and operational challenges, especially in development licensing within Provincial Local Authorities (PLAs). ...

90. Antibiotic misuse in Cyprus fuels deadly resistance surge

Cyprus ranks among European Union countries with the highest antibiotic consumption and microbial resistance rates, Health Minister Michalis Damianou said Friday at a news conference kicking off a campaign on antibiotic stewardship and antimicrobial resistance. ...