Search

1171. China's economic slowdown threatens global stability

China is unlikely to surpass the US as the world's largest economy as initially predicted for the early 2030s, primarily due to a growing lack of confidence in the Chinese economy, according to Bloomberg Economics analysts....

1172. Unemployment drops in August 2023

The number of registered unemployed persons decreased in August 2023, both on an annual and monthly basis, according to data released on Tuesday by the Statistical Service of Cyprus....

1173. 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....

1174. 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....

1175. Cyprus-Greece-Israel trilateral meeting ends on high note

The Cyprus-Greece-Israel trilateral meeting led by Nicos Christodoulides, Kyriakos Mitsotakis, and Benjamin Netanyahu has successfully concluded its discussions....

1176. Tourism revenue soars to just over €1 billion in first half of 2023

Tourism revenue in Cyprus has seen a remarkable surge in the first half of this year. The latest data from the Statistical Service of Cyprus (Cystat) reveals that revenue from tourism amounted to a staggering €1.09 billion. ...

1177. Compensation plans unveiled for Akamas communities

Starting tomorrow, September 1, 2023, the stipulations outlined in the Akamas Local Plan will be enacted. Yesterday, Mr. Konstantinos Ioannou, the Minister of Interior, and Mr. Petros Xenophontos, the Minister of Agriculture, Rural Development and Environment,...

1178. Jenca's Cyprus mission explores UN's common ground

UN Secretary-General's Spokesperson Stephane Dujarric said the Assistant Secretary-General for Europe, Central Asia and Americas, Miroslav Jenča, visited Cyprus from 27 to 29 August, as part of the UN’ continued engagement with the parties to explore common ground on the way forward on the Cyprus issue....

1179. China's $10 trillion hidden debt

For some time now, markets have been buffeted almost on a daily basis by gloomy economic news filtering out of China....

1180. Food costs soar, greens up 25.3%, fish dip by 15%

Increases were noted in 32 out of 45 categories of essential consumer products in the Consumer Product Price Monitor for July 2023, according to the Consumer Protection Service....

1181. Ministries launch joint crackdown on undeclared employment

The Ministries of Interior and Labour announced they will start doing checks on Monday in workplaces concerning undeclared employment of third-country nationals....

1182. Senator Menendez condemns attack on UN peacekeepers in Pyla

The attack on UN peacekeepers in the dead zone in Pyla was a completely unacceptable violation of international law, and the United Nations Security Council should promptly pass a resolution condemning the recent assault on Cypriot territory, stated Robert Menendez, the President of the Committee on Foreign Relations of the U.S. Senate, during his speech at the World Conference of Cypriots in the Diaspora at the Presidential Palace....

1183. Hotel employees get wage boost

The Council of Ministers convened earlier today to address key labor-related matters. One significant decision that emerged from the meeting was the approval of a higher minimum wage threshold for the hotel industry,...

1184. Transport and storage grow by 22.3%

During the second quarter of 2023, the business activity index in the transportation and storage sector reached 154.4 units, indicating a growth of 17.3% compared to the same period in 2022....

1185. Desperate battle against unyielding fires rages on

Greece is grappling with an ongoing state of fire as blazes continue to ravage several regions....

1186. Brexit: 7,000 finance Jobs moved overseas

Dublin, Frankfurt and Paris are vying for a share of the financial services markets once dominated by London....

1187. Eurobank secures full control of Hellenic with Pimco share acquisition

Eurobank has successfully acquired all shares of Pimco in Hellenic Bank for €167.9 million, equivalent to €2.35 per share, solidifying its position as the predominant shareholder....

1188. Thermometer set to hit 40°C

In a recent announcement, the Meteorological Service has issued a new warning regarding high temperatures. ...

1189. City of Dreams Mediterranean partners with Cablenet

1190. Fattal Group acquires Grand Resort Hotel

The Israeli hospitality conglomerate, Fattal Hotel Group, is continuing its expansion in Cyprus by acquiring the five-star GrandResort hotel in Limassol, according to an announcement by Invest Cyprus. ...

1191. Nearly 7,000 property purchase permits granted in 2.5 years

In the span from January 2021 to August 2023, approximately 6,958 foreigners were given the authorization to acquire real estate within the occupied territories, as reported by ''official'' data, according to a Yeni Dusen report....

1192. Cyprus nationals arrested for money laundering in Singapore

The Singaporean Police arrested 10 foreigners on suspicion of money laundering and forgery offenses in connection with a case involving 1 billion Singapore dollars (737 million dollars) in cash, luxury cars, and other assets. ...

1193. Strategic release of 7,000 tons of barley

The release of up to 7,000 tons of barley, an amount equivalent to 30% of the strategic reserves, was decided by the Grain Advisory Committee, which convened at the Ministry of Agriculture on Thursday....

1194. President warns: 'No tolerance for conflict'

President Nicos Christodoulides held a crucial meeting this morning with Health Minister Popi Kanari and Health Ministry Director General Christina Giannakis, aiming to address pressing health sector concerns and streamline government initiatives....

1195. EU's solar climb to 2030 green triumph

The rapid expansion of solar power is propelling most EU countries toward achieving their 2030 renewable energy goals ahead of schedule, according to new data. This development is boosting optimism in global emission reduction efforts....

1196. Cyprus faces deceleration amid inflation and rising rates

Cyprus' economy experienced a slowdown in the second quarter of 2023, prompting inquiries about the situation. According to the preliminary estimate provided by the Statistical Service, ...

1197. Cabinet to gather in Troodos for informal objectives meeting

An informal meeting of the Cabinet will take place on August 25 at the presidential residence in Troodos Mountain, under President, Nikos Christodoulides, during which the Ministries and the Deputy Ministries will present their objectives and priorities, Deputy Minister to President Irene Pikis has told the Cyprus News Agency (CNA)....

1198. Russia-North Korea weapon deal may breach UN resolutions

The United States stated today that Russia would violate UN resolutions if it reaches an agreement on weapons with North Korea, following Moscow and Pyongyang expressing support for enhanced cooperation....

1199. Cabinet to decide on flexible working in Cyprus public sector

The Council of Ministers is poised to make a decision regarding proposed flexible working arrangements in the public sector this August, according to Maria Kleanthous, First Officer and Head of the Human Resources Management and Labour Relations Section of the Department of Public Administration and Personnel. The move comes as part of the implementation of the Recovery and Resilience Plan, with a target completion date set for the close of 2024....

1200. Tourism's dynamic future: Adapting to change from within

It's something we've heard many times from tourism authorities, that 2019 should no longer be used as a point of reference for tourism....