US and European stock markets were buoyed Friday by Russian President Vladimir Putin’s comments about a “positive shift” in talks with Ukraine, traders said. Oil also rose on Iran supply fears, but remained well below the 14-year peak near $140 hit Monday on worries of a severe fallout from key producer Russia’s invasion of Ukraine. The
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Cyprus tourism revenues in 2021 were the lowest recorded in over a decade, excluding 2020, when the travel industry was essentially on COVID-19 lockdown throughout the year. Annual revenue from tourists reached €1.51 bln in 2021 as the tourism industry followed a recovery path following the COVID-19 pandemic in 2020. However, excluding 2020, last year
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The Cyprus Automobile Association has taken aim at four-time Formula 1 champion Sebastian Vettel for sporting a helmet displaying the flag of the breakaway state in the Turkish-occupied north of the island. Vettel had replaced his regular helmet colours with a special ‘No War’ design in the colours of the Ukrainian flag, adding at the
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Ukraine’s President Volodymyr Zelensky said Friday the European Union “should do more” for his embattled country, a day after EU leaders doused its hopes of quick accession to the bloc. “The European Union should do more. It must do more for us, for Ukraine,” he said in a video statement on Telegram more than two
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Reports of ‘appalling’ living conditions of unaccompanied migrant children at the Pournara reception centre have main opposition party AKEL demanding that Interior Minister Nicos Nouris resign. AKEL, on Friday, demanded that Nouris steps down “for not fulfilling the ministry’s humanitarian obligation”. The left-wing party’s criticism was backed by the Green Party, which noted that children’s
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Some 2.5 million people have fled Ukraine since Russia invaded two weeks ago, and another two million have been internally displaced by the war, the United Nations said Friday. The UN Refugee Agency’s chief Filippo Grandi blamed the mass displacement on what he called a “senseless war” that began on February 24. “The number of refugees
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A low-pressure weather system named Philippos is battering the island with strong winds, cooler temperatures, thunderstorms and hailstone showers. The fire department said they had responded to 15 calls for help on Friday, mostly to remove uprooted trees and fallen branches from cars and electrical wires. Luckily, there were injuries. The Met Office had issued
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President Nicos Anastasiades underlined Cyprus’ role in providing the European Union with energy and the problems posed by Turkey not backing EU sanctions against Russia for invading Ukraine. During his remarks to EU leaders at the informal European Council summit in Versailles, France, he also pointed out that plans to strengthen Europe’s defence need to consider
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Moody’s Investors Service has placed RCB Bank’s long-term ratings on review for downgrade, including its long-term deposit ratings, citing “higher credit risk associated with its Russian corporate exposures” on the backdrop of sanctions imposed on Moscow for invading Ukraine. It has downgraded the Cyprus bank’s Baseline Credit Assessment (BCA) and Adjusted BCA to b3 from
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Russian shelling hit civilian targets in central Ukraine’s Dnipro city on Friday, as Moscow’s troops edged closer to Kyiv, where officials said the capital was being transformed into a “fortress”. Hundreds of thousands of civilians remained trapped and under fire in Ukrainian cities, including besieged Mariupol, after the first talks between Moscow and Kyiv’s top
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