The value of the United States dollar has fallen considerably in recent years, raising questions over the dollar’s long-term viability as a safe-haven currency. According to data presented by Finbold, the U.S. dollar has depreciated sixfold over the past 50 years. In 1972, the worth of one dollar was $1, but by 2022, the value
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The Kannaviou dam in Paphos became the eighth dam in Cyprus to overflow this year, as the island’s total reservoir capacity reached 89% due to generous rainfall throughout the winter months. Kannaviou is the island’s fourth largest dam with a capacity of 17.17 million cubic metres. It was built in 2006 and has since overflowed
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ExxonMobil and Qatar Petroleum, consortium partners in Block 10 of the Cyprus Exclusive Economic Zone (EEZ), have found “high quality natural gas” in the ‘Glaucus-2’ appraisal well, with the drillship Stena Forth departing Sunday for its next contract in Canada. The Cyprus Ministry of Energy Commerce and Industry said Monday that operations in the EEZ
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Public buses in the island’s capital and Larnaca has ground to a halt after drivers went on strike to protest the laying off of 36 colleagues, causing major disruption mainly in the transport of students to schools. Trade unions SEK, PEO and Deok representing bus drivers in Nicosia and Larnaca employed by Cyprus Public Transport
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Cyprus reported three coronavirus deaths on Sunday, including the oldest victim of the pandemic, a 101 year old woman, as the benchmark transmission rate leapd to a new high 4.9%. New daily cases remained well above the 3,000 mark from last Sunday and rose from the previous day to 3,698, with hospitalisations galloping to 143,
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Creative Women Platform, an international networking group for female leaders and entrepreneurs, has appointed local artist and design consultant Maria Ignatiou Shiakalli as new chair for the organisation in Cyprus. The appointment was announced during a meeting of Creative Women Platform’s international leadership with House President Annita Demetriou. Speaker Demetriou expressed her sincere wish to
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I wonders if the authorities are up to the job to carry out their duties for the benefit of Cyprus and its people. The examples that I often provide are not the full list of oddities and there are other numerous and shocking events. I will report some of them that we were involved with
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DThe war in Ukraine and sanctions on invading Russia have been feeding an already brewing energy crisis, in ways that could not have been foreseen. However, environmentalists and consumer associations argue that consumers are firing at authorities for not turning greener faster. In comments to the Financial Mirror, the Greens’ Party and the Cyprus Consumers’
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It’s been two years since the pandemic struck Cyprus, initially with a general sense of confusion among authorities at home and the rest of the world, as well as frustration dominating within the general public. Since then, we’ve had two camps of thought on almost everything – vaccinations, restrictions, furloughs, relaxations – most of the
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The Greek government is taking another step towards financial abyss by announcing a new package of financial measures aimed at strengthening households and businesses hit by runaway energy prices. The total package amounts to €1.1 bln and covers handouts to specific groups of consumers covering the whole range of fuels including electricity, gas and transport.
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