By Craig Erlam A plethora of central bank meetings and the maintenance completion of Nord Stream 1 have guaranteed another frantic session in financial markets on Thursday. The resumption of gas flows through Nord Stream 1 at levels seen before the maintenance work began has come as a huge relief to European countries unable to
More
The European Central Bank (ECB) increased interest rates by more than expected on Thursday, raising its benchmark deposit rate by 50 basis points to zero percent, impacting the Cyprus banking system and local borrowers. The ECB moved to join its global peers in jacking up borrowing costs, ending an 11-year policy of historically low-interest rates.
More
Almost 1 in 2 valid requests received by the cybersafety helpline during the last three months were related to hacking, fraud and online bullying. Most reasons for contacting the helpline were related to cybercrime incidents (47.2%), i.e. dealing with breach of privacy (hacking) and financial fraud. An increased number of reports between April and June
More
The Justice Ministry has welcomed the US State Department people trafficking report for upgrading Cyprus to Tier 1 status but more needs to be done. According to the report, Cyprus meets minimum standards to eliminate human trafficking. It said Nicosia made key achievements to do so during the reporting period, considering the impact of the
More
Another tech firm is relocating offices to Cyprus, as TangoMe, a leading US consumer services and applications software provider, announced plans to establish a presence in Limassol. TangoMe Inc., which raised funding of $300 mln and has an estimated annual revenue of $350 mln a year, will transfer highly skilled roles to Cyprus, including software
More
Currently, the real estate sector is not a destabilising factor for the banking system, nor are there concerns over a property bubble or residue from the defunct Citizenship for Investment scheme, argues the Cyprus Central Bank. In its latest report on the stability of the financial sector, the Central Bank said although a possible reduction
More
Melani, a rare black female flamingo, has returned to her favourite Cyprus stop-over for the fifth time in seven years. She has been sighted at the Akrotiri Salt Lake, a wetland area within a sovereign British Bases administration on the island. The flamingo, which suffers from ‘melanism’, a genetic irregularity which turns it a dark
More
By Jeffrey Halley Thursday is shaping up to be a frisky day for financial markets, but nothing was more important than the 6am news in Berlin that the official Nord Stream 1 maintenance period finished, and the natural gas from Russia resumed. Nord Stream accounts for more than a third of Russian gas exports to
More
Cyprus workers will earn no less than €890 gross a month, increasing to €930 after six months on the job, as the government edges closer to introducing a nationwide minimum wage. Following a recent showdown between social partners over how the minimum wage would be calculated, the Labour Ministry on Wednesday laid down the law,
More
Cyprus will impose an outright ban on single-use plastic items such as cups and straws as of 1 October to reduce pollution. Retailers caught supplying the market with such products are hit with fines up to €4,000 and €20,000 in case large quantities are found on their shelves. The move results from an EU directive
More
