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511. Bank of Cyprus announces €50m net profit in first half of 2022

Bank of Cyprus announced a profit after tax amounting to €50 million for the first half of 2022, setting its sights on dividend distribution in 2023, for the first time since 2011, depending on market conditions and regulatory approvals....

512. Gorbachev, who steered Soviet breakup, dead at 91

Mikhail Gorbachev, who set out to revitalize the Soviet Union but ended up unleashing forces that led to the collapse of communism, the breakup of the state and the end of the Cold War, died Tuesday. The last Soviet leader was 91...

513. Turkey must behave as a NATO ally

Senator Bob Menendez, chair of the United States Senate Committee on Foreign Relations, calls for more steps to deepen the multidimensional relationship between Greece and the US, from defense and security to emerging technologies, the digital economy, the maritime industry and commercial shipping....

514. Fuel a whopping 60% more expensive in 2022

Cyprus Minister of Health, Michalis Hadjipantela, is in contact with his counterparts in neighboring countries, asking them to supply Cyprus with vaccines for monkeypox, the Minister's Communications Advisοr Konstantinos Athanasiou told CNA....

515. Increasing electricity costs to be subsidized by the government

A subsidy that will cover part of the increase in the price of electricity was hammered down during today's session by the Cabinet. As the Minister of Finance Constantinos Petridis stated, ...

516. Europe agrees to compromise deal on gas rations as Russia squeezes supply

European Union governments agreed Tuesday to ration natural gas this winter to protect themselves against any further supply cuts by Russia as Moscow pursues its invasion of Ukraine....

517. 550 employees leave Bank of Cyprus

The Bank of Cyprus announced the successful completion of a voluntary staff retirement plan. Through the Plan, approximately 550 employees have been approved for severance, ...

518. Single-use plastics banned from October 1st

As of October 1, 2022, single-use plastics products will no longer be available for sale or use in Cyprus....

519. Cyprus upgraded to Tier 1 in US Trafficking in Persons report

The Ministry of Justice and Public Order has welcomed the US State Department's Trafficking in Persons report for 2022 released on Tuesday noting the upgrade of Cyprus to Tier 1 status. ...

520. Majority of Cypriots believe corruption is rampant in the country

A total of 94% of respondents in a special Eurobarometer published by the European Commission on Wednesday believe that the problem of corruption is widespread in the country....

521. EAC: Electricity rates to be increased by 24%

The Cyprus Electricity Authority's pricing plans are expected to be approved by the Cyprus Energy Regulatory Authority in the coming days, EAC spokesperson Christina Papadopoulou told CNA on Tuesday....

522. Cyprus property market growing in number and value

The Cyprus property market is growing while getting pricier, as the number of properties rises by 1.5%, while their overall value increased by 2.2% based on January 2021 prices compared to 2018 data....

523. BA cancels hundreds more flights this summer

Most of the axed journeys, around 650, are in July while Heathrow and Gatwick airports will see around two-thirds of the cancellations....

524. Australia is exterminating tens of millions of bees to save its honey industry

Tens of millions of bees are being exterminated in a desperate attempt to save Australia's honey industry from a devastating mite plague....

525. Bank of Cyprus offering voluntary retirement plans for up to 600 employees

The Bank of Cyprus is offering a Voluntary Retirement Plan to 500 - 600 employees of its employees in the hopes that it can reduce its number of employees in order to maintain profitability. ...

526. Petroleum product sales up by 34%, oil reserves down by 17.1%

Total sales of petroleum products increased by 34% on an annual basis in May 2022, while total petroleum reserves decreased by 17.1% (18,020 tons) at the end of May 2022, compared to the end of May 2021....

527. Turkey to blame for increasing number of migrants in Cyprus

Interior Minister Nicos Nouris said on Thursday that Turkey is the main culprit for the increasing number of migrants to Cyprus....

528. 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. ...

529. 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. ...

530. Pesticide reduction key to sustainable agriculture

Reducing the use of pesticides is key to sustainable agriculture, Commissioner Kyriakides tells CNA, and underlines that producers will be supported...

531. Turkey's lack of progress will delay accession talks with the EU

The European Parliament cannot envisage a resumption of negotiations for the accession of Turkey into the EU without clear and significant progress in the field of rule of law and fundamental rights, ...

532. No end in sight to weekly price hikes in fuel

Increases in fuel prices are taking place almost on a weekly basis, according to gas station owners. ...

533. Number of registered unemployed persons drops by over 66% in May

The number of unemployed persons, registered at the District Labour Offices registered a steep drop in May declining to 10,586 persons, marking an annual reduction of 66.2%....

534. CBC: New loans drop by almost 50% in April

Cypriot banks granted 50% fewer loans this month in comparison to last month due to a sizeable reduction in new housing loans....

535. European fruit contaminated with toxic pesticides

Shocking rise in toxic pesticides on European fruit, says study...

536. An increase of 50% in subsidies for roof thermal insulation and photovoltaic systems

With a budget increased by 40%, and a potential to increase even further and with increased grants by 50%, the Grant Scheme for thermal insulation on roofs and installation of photovoltaic systems in houses was announced by the Ministry of Energy, Commerce and Industry during a web conference, on Tuesday....

537. EU official calls on Cyprus to implement recovery plan or lose funding

A European Commission official on Monday urged the Cypriot authorities to proceed with the implementation of Cyprus’ National Recover and Resilience plan, warning that Cyprus risks losing EU funds in case of new delays....

538. EU Energy Commissioner: 'Cyprus has enormous potential in terms of solar and wind energy production.'

In the wake of rising energy costs due to Russia's invasion of Ukraine, Kathimerini sits down with EU Commissioner for Energy, Kadri Simson, to discuss the EastMed pipeline, Europe's push toward Green energy and the potential for Cyprus to ensure its citizens both affordable prices and energy security by developing solar and wind power....

539. Bank of Cyprus posts net profit of €21 million in Q1

Bank of Cyprus group announced on Thursday a net profit of €21 million for the first quarter of 2022, compared to net profit of €8 million in the first quarter of 2021....

540. Bank of Cyprus to reduce its employees by 500 in 2022