President Nikos Christodoulides has fallen short of his promises for a gender-balanced Cabinet and to fill ministerial posts with newcomers and technocrats. Despite the new president pledging to refresh the government with young talent, the average age of the cabinet is 50. Christodoulides investiture ceremony to take place Tuesday in Parliament, following lengthy speculation and
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Occupancy rates at Paphos district hotels are expected to reach 35% in March, according to the President of the Paphos Hotels Association, Thanos Michaelides. Michaelides told CNA that bookings for the summer season are moving satisfactorily, considering the Ukraine war and the difficulties the UK economy faces. He pointed out that the occupancy rate is
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By Lukman Otunuga, Senior Research Analyst at FXTM Asian shares were a mixed bag on Tuesday as fears over rising U.S. interest rates hit overall sentiment in the region. European futures are pointing to a positive open, tracking the modest gains on Wall Street overnight. However, a sense of caution continues to linger across financial
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Licking its wounds and hurt from a bitter internal battle, the former ruling Democratic Rally is headed to elect a new leader, its fifth president in DISY’s lifetime of 47 years. And the choice is between two younger members of its leadership, House President Annita Demetriou and MP Demetris Demetriou. Not that there was a
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A year ago, Russian tanks rolled into Ukraine expecting an easy victory as the Kremlin looked for a morale boost ahead of presidential elections. Moscow had entered Ukraine nearly a decade before, and nobody blinked; the West was preoccupied. Putin gambled that the West was not prepared to defend Ukraine. He would flex his military
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Cyprus’ central government debt dropped to €23 bln, marking a reduction of 3.9% year on year, according to the Public Debt Management Office (PDMO). Government debt is over 99% of total debt, reaching €23.086 bln last year, compared with €24 bln at the end of 2021 and €23.738 bln in Q3 2022. Compared with Q3
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Cypriots continue to show significant support for Ukraine against the Russian invasion, but aggressive sanctions against Moscow are less popular. There is also great support for accelerating the energy transition, notably investments in renewable energy and actions to reduce the EU’s dependency on Russian energy sources, according to the standard Eurobarometer for Winter 2022 –
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Cypriot dairy producers are excited that Israel has lifted customs duty applicable to various cheese products, paving the way for halloumi to conquer another market. In comments to the Financial Mirror, Chamber of Commerce and Industry representative Andreas Andreou said the island’s business community, especially dairy producers were happy to see the neighbouring country lift
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For many years in America and now in Europe, the construction of retirement housing complexes has become more bespoke. The relatively recent developments in Spain also show the trends of this new concept, which may be of interest to Cypriot real estate developers and investors. When one refers to retirement homes, in the mind of
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By Craig Erlam It’s been a strange week in financial markets, one in which we’ve learned relatively little, but reality appears to be slowly catching up on some. I say that as someone who doesn’t think things will be as bad as they currently seem on interest rates and the economy, but equally is of
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