Methamphetamine and cocaine use are on the rise in Cyprus, compared to previous years, says a European wastewater analysis report on drug use that included over 100 cities. According to the survey, methamphetamine use, generally low and historically concentrated in Czechia and Slovakia, now appears present in Cyprus, Belgium, the east of Germany, Spain, Turkey,
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By Craig Erlam Equity markets in Europe opened a little lower on Thursday following a very mixed session in Asia and some heavy selling on the other side of the pond on Wednesday. While investors have been relieved that this week has brought no new instability in the banking sector (yet), they are a little
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Cyprus’ water reserves are dangerously low, as the island’s dams are currently recording one of the worst inflows for a decade despite recent storms. Since October, when the rainy season began, water inflow stands at 40% of the past decade’s average. According to the Water Development Department’s website, Cyprus dam capacity is at 69.4%, or
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The Bank of England is likely to continue increasing interest rates beyond its current level of 4% as UK inflation jumped unexpectedly in February, a leading financial advisor said, as the central bank board meets Thursday noon. “The rise in inflation comes as a shock, as most analysts had forecast a fall to 9.9% amid
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Cyprus’ diplomatic network abroad is being upgraded with the reopening and opening of four embassies in 2023. Foreign Ministry’s spokesperson Theodoros Gotsis, said Cyprus’ High Commission in Nairobi, Kenya, reopened in February. Nairobi is the seat of the UN Environment Programme (UNEP) and the UN central regional office in Africa. Moreover, the Orthodox Church of Kenya
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Annual inflation in February rose by 6.7% as fuel prices continued their downward trend after hitting an all-time peak last summer. According to the Cyprus Statistical Service, the increase in the cost of living was powered by housing, electricity, and heating fuel. Compared to February 2022, the largest changes were noted in Housing, Water, Electricity,
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Cypriots can expect an Easter shock as food prices rise, according to the latest survey by the Consumer Protection Service, while market stakeholders warn of further hikes. According to the Commerce Ministry’s Consumer Protection Service, food prices such as meat, bread, and eggs increased between 12% and 25% in February compared to last year. According
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By Han Tan, Chief Market Analyst at Exinity Group The outcome from the ongoing FOMC meeting is shrouded in uncertainty. Still, markets are very much aware that the Federal Reserve is stuck between a rock and a hard place, with policymakers facing an apparent dilemma between financial stability or price stability. Fed Funds Futures now
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Philanthropist Sir Stelios Haji-Ioannou awarded 10 bicommunal teams, consisting of Greek and Turkish Cypriots, who stood out in business cooperation. Each team member wins a cash prize of €10,000. At the online award ceremony to announce the ten winning teams, Sir Stelios Haji-Ioannou congratulated the winners via zoom. Some 46 groups of Greek and Turkish Cypriots
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Cyprus joined EU member states as a signatory to a project led by the European Defence Agency for the collaborative procurement of ammunition. The collaborative procurement of ammunition includes the possibility of sending it to Ukraine, but Cyprus will not be sending munitions to the country. Defence Minister Michalis Giorgallas participated in the signing ceremony
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