The presidential election campaign, well underway with over a dozen candidates coming forward, could be as divisive for Cyprus as for the rest of Europe, bracing for an energy crisis, rising inflation and major corporate rescuing. A decade ago, the EU suffered a euro crisis, followed by the migrant crunch, the coronavirus impact and now
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By Moody’s Analytics The June U.S. consumer price index has financial markets increasing their bets on a 100-basis point rate hike at the upcoming meeting of the Federal Open Market Committee. The CPI increased 1.3% in June, more than our above consensus forecast for a 1.2% gain. June’s increase leaves the CPI up 9.1% on
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The spectre of energy poverty looms large for many Cypriot families, as economists estimate that one in four households are at risk, even the traditionally safe middle class. With electricity bills inflated every couple of months and fuel prices hitting an all-time high, many families are in trouble, trying to keep tabs on every last
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As the purchase cost/sale prices of new units (apartments) increase, so does the difference between older and new units. If we compare the selling prices of new residential units, which are now around €2,500/sq.m. + VAT and older ones with selling prices of €1,200-€1,500/sqm. (depending on the level of construction and repair requirements), the difference
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Cyprus and NATO is an old story. In 1959, when the London Agreements for establishing the Republic of Cyprus was signed, the United Kingdom favoured Cyprus joining the Commonwealth and the Council of Europe, but not NATO. The argument was that Cyprus was a small country with a small population. That objection eventually did not
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Parliament passed a bill that sets clearer rules for maritime courses, clarifies the calculation and proof of seafarers’ service at sea and regulates the revalidation of the certificates of captains of coastal and small passenger vessels. The bill amends and replaces earlier legislation that eases implementation of the STCW convention, as adopted by the entire
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The European Commission has praised the Cypriot economy for exceeding expectations during the year’s first quarter while also delivering bad news regarding high inflation. “The Cypriot economy surprised on the upside in the first quarter of 2022, mainly as a result of the faster-than-expected recovery of tourism and the continuing expansion of exports of other
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Wedding and christening organisers are squeezed following the COVID lockdowns, which had bitten a large chunk out of their turnovers and are now hit by inflation pushing costs skyward. According to the Cyprus Event Organisers Association, COVID-19 measures forced 50% of couples to wed to postpone their wedding plans in 2020 and 2021. The association’s
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A 43-year-old Greek Cypriot man caught on video assaulting a Congolese woman holding her 11-month-old baby was remanded in police custody for four days on Friday. The man was detained in connection with a possible racist attack following footage of him kicking a black woman holding a baby on the floor that lit up social
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The Western Balkan route saw the most significant increase in detections of migrants and asylum seekers during the first six months, according to data from EU border agency Frontex. In the first half of 2022, there were about 114,720 irregular entries to the European Union, an increase of about 84% compared to last year. In
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