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331. Real estate market remains unpredictable despite economic chaos

Everything around us exudes a sense of precision. Costs are on the rise, from the basic materials used in production to the final products we consume. ...

332. Larnaca port welcomes cruise ship carrying foreign nationals escaping Israeli war

In a historic moment at Larnaca Port, the very first cruise ship arrived, marking a significant event in the midst of the Israeli conflict....

333. Israeli-Hamas war puts Cyprus and Egypt at forefront of credit risks

Cyprus and Egypt are currently facing the most direct credit risks among countries rated by Scope Ratings due to the Israeli-Hamas conflict, warns the German firm....

334. Government unveils inflation relief plan for October's end

At the end of October, the government is expected to announce measures to alleviate the impact of inflation, while at the beginning of 2024 the government plans to implement the new green tax on fuels, together with compensatory measures, said the Minister of Finance, Makis Keravnos, while handing over the 2024 state budget to the President of the Parliament, Annita Demetriou. ...

335. Cyprus banks secure Moody's upgrade to investment status

After 12 years, Moody's has upgraded the ratings of Cyprus' two major banks, Bank of Cyprus and Hellenic Bank, placing them in the investment category....

336. Moody's boosts Bank of Cyprus and Hellenic Bank ratings to Baa2

Moody’s Investors Service has upgraded Bank of Cyprus’ and Hellenic Bank’s long-term deposit ratings to Baa3 from Ba1, citing the continued resilience of the Cypriot economy and credit conditions, which are leading to supportive operating conditions for Cypriot banks....

337. Moody's double upgrade ignites investor interest

Last Friday, Moody's delivered a double upgrade for Cyprus, propelling the nation into the investment-grade category recognized by all four major financial firms. Although these rankings may appear modest, their real-world impact is substantial....

338. US Secretary of State commits to reunified Cyprus on Independence Day

U.S. Secretary of State Anthony Blinken extends best wishes to Cyprus on its 63rd Independence Day, expressing America's commitment to a united Cyprus....

339. EAC brings 400,000 smart meters for all

Demetris Nathaniel, EAC's Deputy Press Spokesman, informed K that the first 40,000 smart meters will be operational by the first half of 2024, with the remainder to be installed within 2-3 years....

340. Cyprus government approves 24-hour care facilities for disabled adults

The Council of Ministers has given its nod to a proposal by the Ministry of Social Welfare, paving the way for the acquisition of five buildings designated for 24-hour care facilities for adults with disabilities. Deputy Minister Marilena Evangelou made this announcement following the Council of Ministers' meeting on Tuesday....

341. Keravnos expects more from banks to boost Cyprus economy

The Cyprus economy has proven its resilience in recent years, Finance Minister Makis Keravnos said Tuesday at the 4th Conference "Banking System: New Challenges and Opportunities", that takes place in Nicosia, noting that there are still challenges that the banking sector must address....

342. TechIsland Summit 2023: Cyprus on the fast track of becoming a tech island

TechIsland held its annual TechIsland Summit within the framework of the Reflect Festival on 20 September 2023....

343. Gatwick airport cuts flights amid covid outbreak

344. CBC lowers GDP growth projections for 2023 and 2024

The Central Bank of Cyprus has revised its growth projections for 2023 and 2024. They now expect GDP growth to be 2.4% in 2023 and 2.7% in 2024, down from their previous forecasts of 2.6% and 2.8%. This is due to Western sanctions against Russia and the fragile external environment affecting professional and non-tourism services....

345. Sheep's surprise attack on medicinal cannabis

A herd of sheep descended upon a partially flooded greenhouse in the vicinity of Almyros, Magnesia, Greece, with a peculiar appetite for medicinal cannabis. ...

346. €369 million EIB loan for smart investments

The government has secured a €369 million loan from the European Investment Bank (EIB) with favorable terms to support expenditures and investments within the framework of the "Thalia" program. ...

347. Focus on growth, employment control, and surplus in the 2024 budget

The 2024 state budget to be tabled to the Council of Ministers for approval next week will have three key characteristics, Minister of Finance Makis Keravnos told CNA....

348. Liquidity cover hits 318% in banking

Konstantinos Herodotou, the Governor of the Central Bank of Cyprus, delivered a robust message at the TechIsland conference in Limassol....

349. SSM chief urges banks to be prudent amidst soaring profits

The Chairman of the Single Supervisory Mechanism (SSM), Andrea Enria, has emphasized that the gains from high interest rates for banks will eventually come to an end....

350. Flames rage at Geri recycling plant

Fire ignited at 05:42 on Friday morning, engulfing a recycling plant located in the heart of the Industrial Area in Geri....

351. Koilani battle against wildfire rages on

What began as a tranquil day in Koilani and Omodos took a nightmarish turn as a significant wildfire erupted on Thursday, September 14th, around noon....

352. Unprecedented disasters prompt urgent calls for risk assessment review

Unfortunately, this year has been a game changer in terms of risk prediction as the scale and impact of recent disasters has been unprecedented, Dr. George Boustras, ...

353. Remembering 9/11, 22 years on

On the 22nd anniversary of the September 11, 2001, terrorist attacks, New York City is set to honor the memory of the nearly 3,000 lives lost with a series of memorial events throughout the city....

354. Recovery and Resilience measures target non-performing loans

In a move to address Non-Performing Loans (NPLs) and maximize European funds, Minister of Finance, Makis Keravnos, announced the approval of an action plan under the Recovery and Resilience Plan. ...

355. Public sector considers summer 4-day workweek proposal

The Pancyprian Guild of Civil Servants is set to reintroduce a proposal for a four-day workweek in the public sector, according to Stratis Matthaiou, the General Secretary of the Guild. ...

356. New student dorms to transform old town Nicosia

The Mayor of Nicosia, Constantinos Yiorkadjis, and the director of the company "OIKODOMIKES EPICHEIRISEIS STAVROS A. STAVROU LTD" have signed contracts for the construction of new student dormitories in the city....

357. Two tourists found alive in storm-ravaged South Pelion

As the relentless storm named "Daniel" pounded the tranquil enclave of South Pelion, Deputy Mayor Demetris Parisiades delivered distressing updates to "K" News on Tuesday evening, compounding the anxiety gripping this serene region....

358. Cyprus boosts energy sector with €104m revamp

The Republic of Cyprus has submitted a revised Recovery and Resilience Plan to the European Commission, incorporating the REPower EU chapter with an additional allocation of €104 million....

359. Gov't embraces flexible work for public servants

The Council of Ministers, in its meeting on August 30, 2023, greenlit a policy framework aimed at regulating flexible employment within the public service. This initiative aligns with the implementation of the Recovery and Resilience Plan 2021-2026....

360. Cyprus Apartment Showdown: Nicosia vs. Limassol

In our previous report, we delved into a comparative analysis of apartment sales in the Paphos, Larnaca, and Famagusta districts for 2022 and the first 7.5 months of 2023. Today, we shift our focus to the Nicosia and Limassol provinces, two significant players in the local real estate market....