By Craig Erlam The Australian dollar fell further Tuesday morning despite the RBA holding interest rates steady and warning that further tightening may be necessary. The central bank warned that while inflation is declining, a strong labour market and economy remain a risk. What’s more, persistent services price inflation which is being seen in other
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Defence Minister Michalis Giorgallas said the government will continue to boost its military strength and deterrent capability as long as Cyprus remains under Turkish occupation. He addressed a swearing-in ceremony of new students at Greece’s top military educational institutions. The minister said: “As long as Cyprus remains under occupation and in danger, we will continue
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In response to the increase in interest rates, we’ve observed several budget adjustments among borrowers. Also, property buyers are currently opting for more deliberate and considered purchases. This means the duration required from estate agents and property professionals to guide clients towards finding their ideal property has lengthened. Reduction in Lending In April, Cyprus saw
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Major online platforms risk fines and sanctions if they violate the new European law on digital services that makes companies legally responsible for the content posted on them. A competent EU source said the Digital Services Act (DSA) started to be implemented at the end of August for the 19 largest online platforms and search
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Cyprus and Greece are likely to face “increased migration activity’’ from Turkey between this year and 2024, the EU border agency Frontex said in a risk analysis. “Developments on the ground” in a number of countries of origin and transit, driven by “global macroeconomic factors” including persistent inflation and global recession, will “negatively impact” the
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The British Bases Police have confirmed a dog rescued in Avgorou village last week has now been handed over to the individual who discovered it – Tasos Matheou. A joint operation between the police and Defence Fire Rescue (DFR) was launched last week after a small dog was spotted trapped in an empty, three-metre-high concrete
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The government has approved the policy framework of flexible forms of employment in the public service, allowing for more remote working and flexible working hours, prompted by the recent COVID-19 pandemic experience. The Finance Ministry said Monday the Cabinet decision taken last week “stemmed from the recent experience of the effects of the pandemic, which
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Cyprus, Greece and Israel have agreed to deepen their regional energy cooperation to export to Europe, especially natural gas supply and renewables, during a leaders meeting in Nicosia on Monday. “We agreed that the energy sector, particularly natural gas, electricity and renewable energy, is a solid foundation for regional cooperation,” said Cypriot President Nikos Christodoulides.
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Ancoria Bank is increasing its interest rate to 3% for time deposit accounts for 12 months, while deposit rates in Cyprus are on the drop once again. According to the Central Bank of Cyprus, interest rates offered by Cypriot Banks on deposits stood at an average of 0.87%, down from 1.21% at the end of
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Five Israeli tourists were remanded in police custody for eight days on Monday in connection with an alleged gang rape of a young British woman in the popular holiday resort of Ayia Napa, authorities said. The five men, aged between 19 and 20, were arrested after a 20-year-old British tourist told police she was gang
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