Young people in Cyprus leave home at 27.2, a little below the European Union average of 26.5, but a looming recession could add a few years, according to Eurostat. With a cost-of-living crisis, inflation, high energy costs and rising rents and mortgage rates, parents may be waiting a lot longer for their children to leave
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By Craig Erlam There’s been a lot of economic data to digest so far on Thursday and yet nothing has really changed as far as markets are concerned, with September kicking off on a bad footing. We’ve rapidly transitioned from pivot-induced euphoria to recession anxiety. All because central bank policymakers have repeated messages that their
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Economists welcome the introduction of the national minimum wage of €940 as reasonable, while businesses will benefit in the long run from any increase in their payroll. In comments to the Cyprus News Agency, Economist Marios Christou said setting a minimum wage above the lowest salaries paid was something that had to be done. Noting
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Consumers are to be given a breather from high energy costs, as after a drop in the cost of fuel, electricity bills in September fall by an average of 14% when a government subsidy scheme kicks in. In comments to local media, the electricity authority’s press officer Christina Papadopoulou said that consumer bills would be
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The government has decided to revoke another seven golden passports handed out to foreign investors as the Anastasiades administration comes under fire over its connection to suspicious cases. Interior Minister Nicos Nouris said the passports were granted to four suspect investors and three of their family members. He explained that the Cabinet’s decision is based
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A Singapore-flag crude oil tanker was refloated Thursday and is headed to a nearby Saudi port after being stranded and briefly blocking the Suez Canal. Tugboats from the Suez Canal Authority released the Affinity V several hours after it reported a faulty rudder. It is headed to the Red Sea port of Yanbu al-Bahr on
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A 64-year-old man arrested for the murder of a 55-year-old Romanian woman has confessed to the killing and was remanded in police custody for eight days; his motive remains unclear. Investigators have several riddles to solve regarding the murder of Liliana Niteanu, who was found dead by a real estate agent at an abandoned property
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The role of science as a peacebuilding means was highlighted in a bi-communal STEAM camp of 100 Cypriots, which was organised and funded by the US Embassy. The STEAM for Peace and Entrepreneurship Camp Attendance Certificate Ceremony took place on Wednesday, at the Home for Cooperation, in Nicosia. The organisers expressed their satisfaction with the
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Police have arrested an elderly British couple in connection with an unprovoked attack on an Iranian woman, 40, in Limassol after the incident was posted on social media. The man and his wife, both 76, were arrested after disturbing video footage showed the couple hitting a woman and pulling her hair. The victim is the
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The government is introducing a national minimum wage from January, set at €940 after six months in the job, announced Labour Minister Kyriacos Koushos. The decision is heralded as a “historic move” by the government, with the first six months of employment, the wage will be €885, later rising to the minimum threshold of €940.
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