Winter will pay Cyprus a short visit after the island had one of its driest and warmest Decembers. The Met Office reported the coldest night of this winter, as temperatures on Monday dropped to 1.6 degrees Celsius in Nicosia, oddly lower than the mountains, which saw a minimum temperature of 2.1°C. Cyprus is heading for
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By Craig Erlam European stock markets are trading softer on Tuesday following a similar session in much of Asia as invCestors turn more cautious ahead of Thursday’s US inflation data. The commentary from Fed officials at the start of the week was more hawkish than what investors wanted to hear following a knockout jobs report.
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German Foreign Minister Annalena Baerbock said a two-state solution for Cyprus is not an option, and Germany will continue to push for a de-escalation of tensions on the island. “Germany is solidly on your side. “A solution can only be found based on the basis of United Nations resolutions,” said Baerbock during a joint news
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Cyprus is among the ten most popular destinations for British holidaymakers this year, according to a survey conducted by the Association of British Travel Agents (ABTA). The sunny Mediterranean island landed tenth on a list of the 23 most desirable destinations for Britons planning a holiday. Publishing its ‘Top 23 for 23’, ABTA identified the
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Increased mortgage rates have dashed dreams of owning a home, leaving many in a catch-22 situation as rents are rising, exceeding what families pay in monthly instalments for a housing loan. Interest rates on mortgages could reach 5%, from 2.5% by the end of next year, affecting the buyer’s cost. Meanwhile, the housing market has
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UK pensioners will increasingly be seeking to move retirement funds overseas as fears grow about the Budget in March and government plans to trap into retirement savings, warned an investment adviser at a leading financial advisory and fintech. “The UK is facing at least a decade of lost economic growth amid the readjustment to a
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On 15 December, the European Commission announced the official adoption of the minimum tax rate across its territory, effective as of 1 January 2024, less than one year from now. The relevant European Directive must be transposed into law by all Member States without exception, including, of course, Cyprus. At international level, around 140 OECD
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By Craig Erlam The year got off to a promising start last week, buoyed by a goldilocks jobs report that left investors in a good mood going into another interesting period. Last week’s jobs report ticked every box. Jobs growth was good, but not too much, participation improved, wage growth moderated and revisions to the
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Tourism stakeholders hope to build on the tourist revival in 2022, although the ongoing COVID pandemic and instability created by the Ukraine war have them on edge for the new season. Hoteliers are holding off from making predictions as they wait for the first summer bookings to come in January and February. Last season left
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Construction of a liquefied natural gas (LNG) terminal at Vassiliko is stuck after a dispute between the government and the consortium implementing Cyprus’ largest energy project. With long delays already under its belt, the project is back another nine months, confirmed by Energy Minister Natasa Pilides. Nicosia signed a landmark deal to build a €290
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