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31. Resilient CEOs embrace AI, plan for sustainable futures

Two in three CEOs optimistic about revenue and profit growth despite a challenging economic environment....

32. Kition Ocean Holdings accused of delaying Larnaca port upgrade

Stagnation has been observed on the government and company front regarding the redevelopment of the port and marina in Larnaca....

33. Cypriot banks set to exceed 2023's record profits in 2024

Cypriot banks are maintaining a low profile, but it's expected that 2024 will bring in higher profits compared to the record-breaking figures of 2023. ...

34. Court rules strangulation, not suicide, in Thanasis case

In a dramatic turn of events, the Limassol District Court concluded the third investigation into the death of Thanasis Nikolaou, ruling that he died from strangulation. Nikolaou, whose body was found under the Alassa bridge on September 29, 2005, was previously deemed to have died by suicide....

35. ECB maintains €6.76 billion worth of Cypriot government bonds

The value of Cypriot government bonds held by the European Central Bank remained steady at €6.76 billion by the end of April. This is part of the ECB's efforts to scale back its holdings and control inflation....

36. Cyprus unemployment falls to 6%, similar to EU average

Unemployment in Cyprus dipped to 6% in March, aligning with the EU average and staying below the eurozone average of 6.5%, as per data disclosed by Eurostat, the EU's statistical office, on Friday....

37. Cyprus's role in the Euro-Turkish equation

On a communicative level, as is customary, Nicosia may project a triumphant image regarding the interconnection between Cyprus and Euro-Turkish relations. However, both the final phrasing of the conclusions and Cyprus's initial aspirations argue in the opposite direction. ...

38. Dust and high temperatures expected

High pressure and warm air mass are set to influence the weather in the region, according to the forecast by the Meteorological Service. Dust is expected to linger in the atmosphere until Friday, with concentrations periodically increasing....

39. Lagarde signals Eurozone interest rate drop in June

The President of the European Central Bank, Christine Lagarde, has hinted at the possibility of a rate cut in June, citing the need for more data......

40. EU Parliament votes for clearer labels on breakfast foods

In a move aimed at empowering consumers and promoting healthier choices, the European Parliament has greenlit updated regulations governing breakfast staples such as honey, fruit juice, jam, and marmalades....

41. Business loans drop, home loans steady

The Central Bank of Cyprus reported on Wednesday that the net demand for corporate loans continued to decrease in the last quarter of 2023, marking a consistent downward trend since the first quarter of 2022, although at a slower pace than anticipated earlier in the year....

42. Cyprus energy project stalemate continues amid diplomatic efforts

The month-long stalemate in the Republic of Cyprus' largest energy project remains unchanged, with Nicosia striving to avoid terminating the contract with the project consortium. Despite inactive communication channels, the government seeks to rekindle relations through the Chinese embassy in Nicosia....

43. Cyprus government achieves significant debt reduction in 2023

The Cyprus government reported that the island nation ended 2023 with a debt of €22.4 billion, constituting around 99% of the Republic of Cyprus' total debt. This marks a notable reduction of €689 million or 3% from the corresponding period in the previous year....

44. Allegations of 'Vegas of the Med' status rattle Cyprus talks

Competent sources that spoke to CNA on Tuesday described reports in a British daily as orchestrated ones, that attempt to undermine the efforts to return to the Cyprus talks....

45. Cyprus backs UN resolution condemning Houthi attacks on Red Sea shipping

The Cypriot registry seems to remain unaffected for the time being by the latest developments in the Red Sea......

46. Non-performing loans hold steady at €2B amid rising rates

Non-performing loans in the Cyprus banking system remained essentially unchanged at €2 billion in October 2023, marking a marginal reduction of just €2 million, in an environment of rising interest rates....

47. UN Chief expresses concern over deepening divide in Cyprus

''It becomes clearer with every passing year that the divide between the sides is growing, gradually eroding the prospects of finding a mutually acceptable political settlement''...

48. Preserving Cyprus' cultural heritage is a bicommunal effort

49. UN's envoy to land in Cyprus for talks on Cyprus problem

In early January, the new Special Envoy of the UN Secretary-General, Maria Angela Holguin Cuellar, will arrive in Cyprus....

50. Heavy rain hits Kornos, underpass bridge shuts down

The Kornos underpass bridge faced another bout of flooding, leading authorities to close it for traffic due to heavy rainfall....

51. Nicosia takes measures as status quo violation escalates in Agios Dometios

What began last Monday, inside the buffer zone in Agios Dometios with the installation of a camera in an abandoned house, continued on Wednesday with the presence of Turkish military forces....

52. No foreclosures on first homes until the end of 2023

In a development concerning foreclosures, four months after the summer 2023 decisions, the data remains unchanged. Banks and credit redemption companies have been urged to provide a two-month grace period for first homes and properties up to 350 thousand euros. ...

53. ECB maintains interest rates amid tightening impact

The European Central Bank (ECB) has opted to maintain interest rates unchanged for the first time in over a year, marking a shift following 10 consecutive rate hikes. ...

54. Tightened lending criteria and reduced loan demand in Q2 2023

During the second quarter of 2023, lending criteria for both businesses and households in Cyprus remained stringent, with banks exercising caution....

55. Investment funds hit record high at €2.9 billion

Assets investment by investment funds in Cyprus rose to €2.9 billion in the second quarter of this year, reaching the highest point ever, manifesting the sector’s growing contribution to the Cypriot economy....

56. The surge of violence in the Middle East

The latest escalation of conflict in the Middle East marks a pivotal moment in the ongoing Arab-Israeli dispute....

57. Cavaway, a member of the Alexandrion Group, at the Cyprus Cocktail Festival 2023

The 4th Cyprus Cocktail Festival, a part of the Digital Agenda Cyprus Summit, is delighted to announce Cavaway's presence, a member of the Alexandrion Group, as one of the key suppliers at the festival. The event will be held on October 17, 2023, at the Nicosia Municipal Garden, starting at 19:00, showcasing the premium brands Kreskova Vodka and Black Tears Dry Spiced Rum....

58. Cyprus banks' net interest income doubles amid ECB rate hikes

The Cypriot banking system's net interest income (NII) saw a remarkable doubling in the first half of 2023, marking an annual increase of 100%, primarily due to the ongoing rate hikes by the European Central Bank (ECB) aimed at tackling rising inflation....

59. ECB raises rates for the 10th time as it tries to quell inflation

The European Central Bank raised interest rates for the 10th meeting in a row on Thursday to counter stubborn inflation but signalled that it is likely done tightening policy....

60. Fuel prices surge, electricity rates hold steady

Fuel prices are set to rise by 2-2.5 cents per liter for diesel and slightly less for unleaded gasoline, effective today at petrol stations....