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181. Cyprus sets course for cheaper electricity in 2025

Energy, Commerce, and Industry Minister George Papanastasiou unveiled Cyprus' ambitious plans for the Electricity Authority of Cyprus (EAC) during a press conference in Nicosia on Tuesday. ...

182. Industries expanded in 2022 as Cyprus saw more jobs, higher production

Cyprus saw more people employed in factories and related industries in 2022 compared to the year before, with a 3% increase in jobs. The value of goods produced also went up significantly by 21.2%....

183. President Christodoulides hosts FBI Assistant Executive Director

President Nicos Christodoulides hosted a meeting today with FBI Assistant Executive Director Michael Nordwall at the Presidential Palace. During the meeting, President Christodoulides highlighted the strong ties between Cyprus and the United States, ...

184. Health Minister awaits decision on convicted doctor's return

Health Minister Michael Damianos stated that the Disciplinary Council of the Pancyprian Medical Association (PMA) must complete its procedures before further action can be taken regarding a doctor convicted of indecent assault....

185. Producers must increase goat and sheep's milk in Halloumi

Agriculture Minister Maria Panayiotou announced on Saturday a new decree to adjust milk quotas for making Halloumi cheese with Protected Designation of Origin (PDO) status. She also revealed financial support measures for the sector....

186. Cyprus banks receive upgrades, signal economic resilience

In a series of significant upgrades for Cypriot banks, Fitch Ratings has elevated the Bank of Cyprus and Hellenic Bank's credit ratings, underscoring a positive trajectory for the country's financial sector, according to a report by Panayiotis Rougalas in this Sunday's Kathimerini....

187. Cyprus' 300 fintech firms boost economy, says Georgoulas

The Economist's 28th Annual Government Roundtable concluded with great success in Greece, running from July 2-4....

188. Wolt welcomes historic collective agreement for delivery drivers

Wolt has welcomed the first-ever collective agreement in the fleet management sector, marking a major step forward for the industry. This agreement, reached through the joint efforts of the Ministry of Labour, fleet management companies, and unions, is set to benefit delivery drivers, businesses, and consumers....

189. State to cover €12M shortfall from licensing revenues

Interior Minister Konstantinos Ioannou expressed satisfaction with the progress of the Local Government Reform, despite minor issues during the initial days of its implementation....

190. Resolution on drug shortage issue expected next week

Health Minister Michalis Damianos anticipates a solution to the ongoing drug shortage issue by early next week, he announced Friday....

191. Cyprus President meets business leaders on HR, energy, and tax

192. Ice cream prices melt wallets by 8.07% more

As temperatures rise, so do the prices of summer essentials in Cyprus, with ice creams, package holidays, and hotel stays seeing noticeable hikes compared to last month, according to data released by the Cyprus Consumers Association....

193. Cyprus requests €89.2M in EU grants for recovery plan

The European Commission received a payment request on Thursday from Cyprus for €89.2 million in grants, netting €76.9 million after pre-financing....

194. Greece bucks trend with six-day work week

Greece has introduced a six-day working week for certain businesses in an effort to increase productivity and employment, according to a report by CNBC. ...

195. Temu, Shein & Ali Express: EU cracks down on Chinese imports

The European Union is taking steps to clamp down on the surge of low-quality Chinese imports flooding its markets. According to sources speaking to the Financial Times, the EU plans to impose tariffs on cheap products from platforms like Temu, Shein, and AliExpress....

196. Reflect Festival highlights traffic and housing challenges in Limassol

The recent Reflect Festival brought forth crucial discussions on pivotal issues affecting Limassol, prominently featuring traffic congestion and housing shortages as central topics. ...

197. Cyprus trade sector sees 20.7% surge in 2022 turnover

Turnover in the broad trade sector increased in 2022 by 20.7%, according to the results of the Wholesale and Retail Trade Survey, published by the Statistical Service on Wednesday....

198. Politico: Is Brexit's peak over? UK faces calls to rejoin EU

British voters are gearing up for their first post-EU general election this Thursday, marking a significant milestone since Brexit....

199. CBC to keep dividends low despite bank profits

The increased profitability of Cypriot banks, will not affect the supervisory authorities’ views over the necessity to maintain a prudent policy with respect to banks’ dividend payments, the Central Bank of Cyprus said in its annual report for 2023, published on Wednesday....

200. Dior bags assembled for €53, sold at €2,600

Italian authorities have uncovered stark realities behind the glitz of fashion catwalks and luxury boutiques during recent raids on local factories and workshops involved in the production of Dior and Armani handbags....

201. Cyprus secures halloumi PDO status with 5-year plan

Cyprus has been granted a 5-year transition period by the European Commission to comply with the requirements for the production of halloumi......

202. ECB concerned over Cypriot bank profit tax proposal

In 2023, Cypriot banks reported unprecedented profits, marking a 15-year high, with projections suggesting even greater earnings in 2024....

203. Fitch elevates Hellenic Bank’s credit rating

Fitch Ratings has upgraded Hellenic Bank's Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BB+', with stable outlook and its Viability Rating (VR) to 'bbb-' from 'bb+'. ...

204. Cyprus and U.S. celebrate strengthened ties at U.S. Independence Day event

The 248th anniversary of U.S. Independence was marked with a grand celebration hosted by the U.S. Embassy in Nicosia on Tuesday evening....

205. President announces €10 Million boost for Cyprus tourism

President Nikos Christodoulides announced a €10 million increase in the 2025 budget for the Deputy Ministry of Tourism to enhance Cyprus's international promotion....

206. Cyprus higher education sees doubling of student enrollment over past decade

Health Minister Michalis Damianos praised the dramatic growth of Cyprus' student population during a graduation ceremony at the University of Frederick in Nicosia on Friday....

207. Consulco hosts London Gin Night for its partners

Consulco Group hosted three unique cocktail parties, under the name “London Gin Night”, dedicated to its customers and partners. ...

208. Is Larnaca the new Limassol?

Larnaca is dynamically emerging as a key player in investments and major developments, making significant strides in recent years and capturing a new image....

209. Banks contribute over €854M in taxes amid controversy over proposed levy

In the last seven years (2017-2023), Cypriot banks have collectively paid more than €854 million in income tax, special taxes, and VAT, according to a report by Panayiotis Rouglas in last Sunday's Kathimerini....

210. Why building a home is rare today

As discussed in our previous article, the housing landscape in our country is changing, with home ownership rates decreasing and aligning with the European average. ...