Around 343,000 cruise ship passengers arrived in Cyprus last year, while a slight increase in this figure is expected this year, said Tourism Minister Kostas Koumis welcoming the Royal Caribbean’s Rhapsody of the Seas cruiser. He was on board to mark its arrival at Limassol port over the weekend for its summer season routes. Koumis
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The economy of Cyprus is expected to slow to 2.5% GDP in 2023, reflecting an erosion in household incomes, tighter financial conditions, and delayed impacts from sanctions against Russia, the International Monetary Fund forecasts. This overview follows the conclusion of Article IV’s consultation with Cyprus. The Executive Board of IMF said Cyprus’ economy has been resilient to the fallout
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There were no racist motives behind the incident involving Greek Cypriots who allegedly assaulted a 25-year-old Turkish Cypriot woman in Ayia Napa, President Nikos Christodoulides told Turkish Cypriot leader Ersin Tatar. The President phoned Tatar to condemn Saturday’s incident as “unacceptable”. He assured that police would investigate and justice would run its course while stressing that the attack was
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By Craig Erlam A raft of weaker services surveys have weighed on sentiment in Europe at the start of the week, while Wall Street is more of a mixed bag. Investors are still digesting Friday’s jobs report which didn’t settle the debate on whether the Fed should pause or not ahead of the meeting next
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By Moody’s Analytics President Biden and House Speaker Kevin McCarthy announced over the Memorial Day Weekend an agreement in principle to limit federal spending and suspend the debt limit. The House of Representatives has since passed the Fiscal Responsibility Act, which now goes to the Senate for a vote. This drama is playing out in
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Now the football season is coming to a close with a few finals left to be decided in Europe; nothing is more entertaining than the government trying to sell its shiny new energy policy. The government’s repackaged strategy looks good on paper, but like Chelsea’s season, it promises much but delivers bad results and little
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It is difficult to keep up with the rapidly evolving geopolitical developments in the region, especially when you are a small player on a bigger game board. Cyprus’ energy discoveries remain unutilised for over a decade, with onstream output not expected for another five years, at best. And matters will get more difficult with Turkey’s
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Recent dust clouds over Cyprus directly result from climate change, as the phenomenon is becoming more frequent, damaging more than just air quality, says the Met Office. On Friday, the island was under siege from yet another dust wave, which, in combination with elevated heat and humidity levels, created a celestial dome that diffused sunlight,
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Work on the island’s first private conventional power station, promising cheaper electricity, is in full swing as the gas turbines arrived, developers Cyfield Group announced. In an announcement, Cyfield said the 3 SGT-800 gas turbines from pioneers in electricity generators Siemens had been received at the Power Energy Cyprus plant. “The €48 mln turbines and
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Consumers have paid €570 mln between 2017 and October 2022 due to the Electricity Authority of Cyprus’ failure to switch to renewable energy and misuse of the European Emissions Trade Scheme, an Audit Office report found. The Audit Office urged authorities to take action, considering the need to relieve the effects of climate change and
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