Sales of new cars have slowed on the island and the European Union, as the industry is having trouble delivering to customers due to supply chain shocks. Buyers are unwilling to place orders for vehicles with no firm idea of delivery dates, while the cost-of-living crisis has compounded the problem. According to the data published
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Cyprus, overcoming the loss of Russian maritime trade due to EU sanctions, the Mediterranean shipping hub is chasing business expansion in Japan and elsewhere in Asia as it looks to grow its flag. Cyprus, together with Greece and Malta, which have the largest shipping fleets in the 27-member EU and host large ship-management centres, have
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The Automobile Association branded the Finance Ministry’s refusal to underwrite holding the Cyprus Rally over the next four years at WRC/ERC level as “irrational and criminal”, costing €120 mln in lost revenues for the economy. At a press conference, the president of the Association, Antonis Michaelides, backed up the claim with a study by Deloitte
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A new-look Larnaca marina will be unveiled on 20 September, announced Kition Ocean Holdings; the Cypriot-Israeli consortium awarded the €1.2 bln redevelopment project that includes the port. Just months after taking over from the government on 1 April, Kition Ocean Holdings said that within the next two months, much of the work at the Marina
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Cyprus is on a red alert for forest fires as the island continues to swelter under the hot Mediterranean sun, with temperatures expected to exceed 40 degrees Celsius. On Friday, the island’s forestry department issued a red alert for the risk of fires breaking out as the weather continues to be hot and dry, creating
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Cyprus reported twelve deaths in its weekly Covid bulletin on Friday, as new cases and hospitalisations dropped marginally from last week’s levels to 10,152 and 104, respectively. The Health Ministry said the latest victims of the pandemic were nine men, aged 77 to 98, and three women, 77 and 91, and the oldest death so
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In the new academic year, schools will set goals and priorities to help integrate the rising number of migrant students attending class, said Education Minister Prodromos Prodromou. He said there is a large number of migrant students at Cyprus elementary and high schools who need assistance. Prodromou said the government welcomed migrant students and prioritised
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The possible arrival of Centaurus, a new Covid subvariant which is more contagious but less severe, in tandem with the downward trend in BA5 infections, is not a cause for concern, said Health Minister Michalis Hadjipantela. After meeting scientists on Thursday, Hadjipantela said it was decided to prepare a roadmap for autumn. He announced the
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By Jeffrey Halley Volatility was the winner overnight, with a multitude of data points and events leaving market price action messier than a teenager’s bedroom. The European Central Bank surprised markets by lifting policy rates by 0.50%, ending over a decade of negative interest rates. The Euro has already been rallying, but its gains were
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Cyprus and US energy firm Chevron said they are committed to accelerating the development of the offshore Aphrodite gas field to supply the European Union and Egypt. Energy Minister Natasa Pilides announced on Thursday that the development of the Aphrodite field in Cyprus’ exclusive economic zone will continue with more offshore drilling in the first
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