A high-ranking UN official is expected to visit Cyprus at the end of next week to review the peacekeeping mission after the fallout from the Pyla buffer zone dispute. According to CNA, Nicosia has been informed about the forthcoming visit of UN peacekeeping chief Jean-Pierre Lacroix and more details are expected during the next few
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During the second quarter of 2023, the lending criteria for businesses and households remained strict, indicating the caution of banks. At the same time, there was a decrease in loan demand, attributed to high interest rates and reduced consumer confidence. The Central Bank’s (CBC) Bank Lending Survey for Q2 2023 shows loan demand decreased across
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The 36th annual conference of the International Investment Funds Association (IIFA) held in Limassol is a vote of confidence in the Cypriot ecosystem of investment funds, declared Investment Funds Association (CIFA) President Andreas Yiasemides. At the two-day IIFA international conference (24-25 October), Yiasemides said Cyprus has developed into a dynamic hub for investment funds, registering
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A British pensioner found guilty of the manslaughter of his seriously ill wife returned to court, as the state prosecution appealed the verdict and sentence as lenient. David Hunter, 76, was found guilty of manslaughter in July after he killed his wife, Janice, in their Paphos home in December 2021. He was jailed for two
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The government is optimistic about a positive conclusion in its lengthy negotiations with Chevron in commercialising untapped Aphrodite natural gas. There has been speculation that negotiations with Chevron were headed for disaster as they have reached an impasse. But government spokesman Konstantinos Letymbiotis said that Chevron’s presence in the Cypriot EEZ was “a strong vote
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The National Guard deployed all its personnel and active force in the Interdisciplinary Tactical Exercise ‘IRIS – 2023’ from 17-24 October, the Defence Ministry said. National Guard commander Lieutenant General Georgios Tsitsikostas said the army will continue to highlight Cyprus as a reliable factor of security and stability in the region. The objective of the
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Foreign Minister Constantinos Kombos told the EU General Affairs Council the bloc’s Civil Protection Mechanism should be activated if repatriations increase due to the Middle East crisis. During discussions on the preparation of the European Council on 26 -27 October in Brussels, the ministers exchanged views on the Middle East conflict and the Russian invasion
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By Craig Erlam It was another mixed session on Tuesday with investors potentially eyeing important events later in the week. The PMIs across Europe earlier in the day didn’t get things off to a great start and further backed the view that the region is heading for a recession, if it isn’t already in one.
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North Korea’s backed syndicate, the Lazarus group had a field day in the third quarter this year, with the hacking group unleashing a wave of attacks that stole a staggering $208.6 mln. According to BitcoinCasinos.com, this accounted for 30% of the quarter’s total loss. “Lazarus group’s stunning heist shows the threats associated with state-sponsored cybercrimes,” said
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Cyprus’ general government gross debt-to-GDP ratio increased by 2.2 percentage points (pp) to 85.3% in the second quarter of 2023, compared with the previous three months, the largest quarterly increase by an EU state. Compared to Q2 2022, the ratio decreased by 8.1 pp (the third largest drop in the EU), according to Eurostat. This
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