Less than a week after a deadly migrant shipwreck off Italy, five European Union states on the Mediterranean have criticised fellow members for not accepting asylum-seekers under a voluntary relocation initiative. The ministers responsible for migration policy in Cyprus, Greece, Italy, Malta, and Spain met in Malta’s capital, Valletta, before the EU ministerial meeting on
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Challenges, mistakes and mishaps will await the new government, which pledged to work hard and deliver on promises to the Cypriot people. These words have been heard countless times; some believe they can make a difference, while others hope they don’t get found out. Working hard should be a given, not a virtue; it’s not
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Private hospitals are facing a serious shortage of nursing staff, as changes brought on by the introduction of the General Health System saw many switch to state hospitals while new private health institutions have come online. In comments to Phileleftheros daily, the head of the Cyprus Association of Private Hospitals, Marios Karaiskakis, said the problem
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Thousands of borrowers have been stung by interest rate hikes as they see their monthly mortgage instalment increase by hundreds of euros, causing concern about the housing market. With indications the European Central Bank will continue raising interest rates to tackle inflation, fears of a real estate slump have grown. Since July, the ECB has
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An increase in Kosher products on the island, combined with the opening up of the once protective Israeli market, has widened prospects of Cypriot exports to the neighbouring country. The local Jewish community are pleased to see the list of Kosher products rapidly growing in recent months. At the same time, Israel has lifted customs
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The grace period for the new administration is over, and we expect immediate actions on many issues for the Christodoulides government to gain trust and rebuild public confidence. The new president and his Cabinet were sworn in this week amid the tragic events of the train crash in Greece and the loss of two Cypriot
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There are three ways to buy immovable property in Cyprus: Purchase immovable property with immediate transfer of registration certificate (title deed). Purchase of immovable property through a Sale Contract (SLC). Purchase immovable property from a current purchaser (not an owner) through the assignment of the Sale Contract. Choosing the right property Purchasing an immovable property
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By Craig Erlam Stock markets are ending the week on a positive note although broadly speaking, it doesn’t seem we’ve progressed in either direction over recent weeks. Trading has become very choppy as the economic data has turned more problematic and interest rate expectations have flipped. Investors are now waiting for evidence that the January
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Annual real estate sales rose in the first two months of the year, boosted by the relocation of high-tech firms and their employees. According to the latest Land Registry data, sales documents filed in January-February were 2,222 units from 1,907 in the two months of 2022, recording an annual increase of 17%. Compared to pre-COVID
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Some 159 CEOs in Cyprus expect a decrease in global economic growth but are more optimistic about the Cypriot economy over the next 12 months, according to PwC’s annual Global CEO Survey. The conditions prevailing in the international scene have made CEOs considerably more pessimistic about the global economy, with 69% predicting it will decline.
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