Cypriot authorities managed to return 3,500 irregular immigrants in the first half of 2022, placing Cyprus as the top EU country in migrant send backs compared to its population, said Interior Minister Nicos Nouris. But he noted that during the same six months, the influx of asylum seekers amounted to a record 13,000. Nouris said
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A decision on whether producers of Renewable Energy Sources (RES) have made excess profits due to the unexpected electricity price increase will be taken early next year. Finance Ministry Permanent Secretary Giorgos Pantelis told CNA that a working group was set up with the Trade Ministry and the Cyprus Energy Regulatory Authority (CERA) to examine
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The departure of Turkey’s Abdulhamid Han drilling vessel for the Eastern Mediterranean has alerted Nicosia, with officials waiting for Turkey’s President Recep Tayyip Erdogan to announce the ship’s destination. In a tension-raising move, Turkey will resume gas exploration in the Mediterranean Sea somewhere off Cyprus, with Turkey’s President sending off the ship during an event
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By Lukman Otunuga, Senior Research Analyst at FXTM Asian shares struggled for direction Tuesday morning as concerns about inflation and the outlook for economic growth weighed on sentiment. Overnight, Wall Street’s main indices were mostly flat with a sales warning from Nvidia dragging down the tech sector. In Europe, stocks opened lower due to the
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The government spent an additional €2 bln in the past two and a half years to support the economy struck by the coronavirus pandemic, which subsequently suffered blows from the Ukraine war and sanctions on Russia. Since the pandemic struck the island in March 2020, the government has requested that parliament approve 10 supplementary budgets
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In June, Poland was the EU state which granted the highest number of temporary protection statuses to people fleeing Ukraine (60,125) after Russia’s invasion, according to Eurostat data. The total number of beneficiaries in Cyprus, excluding June, for which there is no data, was 6,575 since March. Poland granted temporary protection status to 60,125 people in
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The U.S. Senate’s passing of a sweeping $430 billion bill over the weekend to help fight climate change underscores why “every investor needs exposure” to environmental, social and governance (ESG) investments to build wealth over the long-term, a leading independent financial advisor said. A marathon 27-hour weekend session of debate in the Senate approved legislation
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Car dealers are forced to sit back and watch the market crumble, as the new vehicle market is being held back while the industry has trouble delivering to customers due to supply chain shocks. According to the data published by the Statistical Service (CyStat), 2,326 saloon cars were registered in Cyprus in July, marking a
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The House is looking into the relocation of asphalt factories from Dali to other Nicosia areas after work was halted by residents physically blocking the entrance to one site. The residents of 12 communities — Mitsero, Kato Moni, Agrokipia, Ayios Ioannis, Arediou, Malounta, Meniko, Orounta, Ayia Marina, Ayios Epiphanios, Kalo Chorio and Klirou, are determined
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Tourist arrivals will reach 70%-75% of the levels welcomed in 2019 when a record 3.97 million visitors came, the Association of Cyprus Tourist Enterprises (ACTE) estimates. They said hotel occupancy for July and August is around 70%-90%, with higher occupancy levels recorded in Paphos. Chrisemily Psilogeni, General Manager of ACTE, said the situation is highly
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