Larnaca police have arrested a 43-year-old in connection with a possible racist attack following a video of a man kicking a black woman holding a baby on the floor that lit up social media. The Greek Cypriot was arrested on suspicion of assault and causing actual bodily harm. In the video, a man is seen
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The list of victims of the Bitcoin and cryptocurrency crash continues to grow daily. According to StockApps.com, the latest victim is Elon Musk’s Tesla, which is expected to report a $440 million impairment on its Bitcoin stock. “Tesla isn’t the only one feeling the pain from the Bitcoin crash. Several companies that have converted part
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The once-proud Berengaria Hotel is one step closer to reviving its past glories as plans for a €35 mln revamp are underway by a Cypriot development company that acquired the property in 2020. Closed since 1984, the property was abandoned to the elements with little to no interest from investors to take on what is
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An overwhelming 94% of Cypriots believe that corruption is widespread in every area of public life, according to a special Eurobarometer. The number is significantly higher than the EU average (68%) and the second highest percentage of positive responses after Greece (98%). Asked whether they perceive the level of corruption in the country to have
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By Jeffrey Halley Central banks have gone full Bon Jovi handing out some monetary policy bad medicine over the past 24 hours, as the fight against inflation permeates even the most ardent fence-sitters. South Korea and New Zealand hiked by 0.50% on Wednesday, with Canada weighing in with a crowd-pleaser sized 1.0% hike. On Thursday,
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Activity in construction declined in the first three months to March amid soaring prices, indicating the Cyprus economy is slowing. In the first quarter of 2022, the Index of Production in Construction, an indication of the growth rate of construction, declined to 175.4 units (base year 2015=100), recording a 6.6% decrease over the 12 months.
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By Craig Erlam Equity markets are tumbling again on Wednesday as the latest batch of inflation data delivered another heavy blow to sentiment. US inflation reached 9.1% in June, up from 8.6% in May and overshot the forecast of 8.8%. This was the highest rate in nearly 41 years. Every month investors eagerly await the
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Omonia is the island’s most popular football club, with nearly one in three fans (30.7%) supporting the greens after turning around their flagging fortunes, according to a survey by the University of Nicosia. Cyprus’ most successful team APOEL, for league titles and participations in Europe, and Omonia’s arch-rivals, APOEL, trailed second with 21.7%. According to
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The total value of assets under management (AUM) by Collective Funds declined by 3.9% in the first quarter of 2022 over the previous quarter, while Undertakings of Collective Investments (UCIs) supervised by the Cyprus Securities and Exchange Commission rose. According to CySEC, in Q1 total assets under management amounted to €11.1 bln, marking a reduction
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No additional COVID-19 measures are expected over the summer, as scientists advising the government are concentrating on autumn, when they expect a rise in cases, possibly powered by a new variant. According to the Cyprus News Agency, scientists advised Health Minister Michalis Hadjipantela to hold back from additional measures, despite a recent surge in COVID-19
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