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Hellenic Bank posts net loss of €2.2 million following increased provisions due to Covid-19

The Hellenic Bank posted €2.2 million loss after tax for the first quarter of 2020, with the bank affected negatively by increased provisions due...

Deposits decline for fifth consecutive month in May

Deposits in the Cyprus banking system marked a net reduction for a fifth consecutive month in May with total deposits amounting to €47.8 billion. Data...

Fuel sales bounce back following easing of lockdown

Fuel sales returned to a recovery path in May when the easing of lockdown measures began in Cyprus. According to data published by the Statistical...

Economic climate in Cyprus improves following a two-month significant drop due to Covid-19

Economic sentiment in Cyprus marked a 2.3 point increase in June following significant reductions in the last two months, affected by the lockdown measures...

Commission approves Cyprus’ €280 mil schemes to support companies and self-employed affected by pandemic

The European Commission approved under the State aid Temporary Framework two Cypriot schemes providing direct grants and subsidised interest rates to companies and self-employed workers...

Cyprus’ Natural Gas Infrastructure Company secures €80 million financing by EBRD

European Bank for Reconstruction and Development (EBRD) gave the green light for 80 million euros funding to the Natural Gas Infrastructure Company of Cyprus...

Retail trade down 30.2% during April’s lockdown

Retail trade reduced significantly in April 2020, the second month during which COVID-19 containment measures continued to apply in Cyprus. On the basis of provisional...

Giovani Group: First 30 villas of “Levanda Hills” project delivered

  Giovani Group’s state-of-the-art luxury holiday home complex Levanda Hills in Ayia Triada in Protaras is fully ready to welcome its first guests, the company...

Largest share of govt debt held by non-residents recorded in Cyprus

    The share of government debt held by the resident financial corporations sector at the end of 2019 was highest in Denmark (74%), followed by...

Cyprus Airports: In full operation for phase B

  As of the early morning hours of Saturday, Larnaca and Paphos Airports entered Phase B of the action plan which has been formed by...

Deputy shipping minister visits Ayia Napa Marina

  Deputy shipping minister, Natasa Pilides on Thursday visited Ayia Napa Marina flagship project, where she had the opportunity of a tour to the premises...

NPEs in the Cyprus banking system record slight increase in January

  Non-performing exposures (NPEs) recorded a slight increase in January over the previous month, attributed to the end-of year capitalised interest. According to data released by...

Responding to COVID-19: How to manage VAT and optimize cash flow

  By Kyriakos Fili The current coronavirus situation is putting pressure on finances and testing many businesses like never before. As businesses struggle to manage cash...

EBRD doubles trade finance limit to Bank of Cyprus to €100 million

  The European Bank for Reconstruction and Development (EBRD) has doubled its trade finance limit to the Bank of Cyprus to benefit businesses, including small...

Hourly labour costs up 4.4% in Cyprus in 1Q 2020

  Hourly labour costs rose by 3.4% in the euro area, by 3.7% in the EU, by 4.4% in Cyprus and 1.5% in Greece in...

Cyprus the highest climber in IMD 2020 World Competitiveness Ranking

    Cyprus was the highest climber in the 2020 IMD World Competitiveness Rankings, marking an improvement in all four categories that make up the overall...

BSM and CMMI on a “True North 72” heading for cooperation on maritime innovation

  International ship manager Bernhard Schulte Shipmanagement (BSM) and the Cyprus Marine and Maritime Institute (CMMI) have signed an MoU to launch a game-changing initiative...

Delay on crew changes bring distress to shipowners and seafarers

    The Cyprus Shipping Chamber expresses its deep disappointment because despite repeated appeals and proposals from the International Shipping Industry, "there is a delay from...

Residential Property Price Index loses steam due to declining foreign demand

  The Cyprus Residential Property Price Index (RPPI) continued its upward trend albeit with a declining pace, affected by the reduced demand from foreign investors...

Sachs: Good leadership important to overcome crises such as pandemic

  By Evie Mitsidou Phillips (CNA) Good leadership is important to overcome crises such as the COVID-19 pandemic, renowned economist, Director of the Center for Sustainable...

EIB approves €150 million for LNG project in Cyprus

    The European Investment Bank’s (EIB) Board of Directors has approved the amount of €150 million to fund the construction of a project which will...

Top Stories

11 new Covid cases in Cyprus, number steadily down, tests rising

  11 new cases of Covid-19 were announced today in Cyprus, out of a total of 3,314 diagnostic tests, taking the total number to 1233. New...

Police fire tear gas at Beirut protesters furious after explosion

  Lebanese riot police fired tear gas at demonstrators trying to break through a barrier to get to the parliament building in Beirut during a...

82 year old killed in Paphos while trying to move his car off the pavement-victim named

  An 82 year old man was killed this morning in Paphos, as he was trying to move his car away from a pavement near...

Paphos fire has scorched 5 square kilometres, still raging, destruction ‘biblical’ (update)

  A fire that broke out early this morning near the Paphos community of Archimandrita and spread on a 20 kilometre front near the villages...

Brazil COVID-19 deaths reach 100,000 and barrel onward

  Brazil’s death toll from COVID-19 is expected to hit 100,000 today and continue to climb as most Brazilian cities reopen shops and dining even...

Taste

Octopus ‘Kathisto’ (or Octopus braised in Wine)

Ingredients: 1/2 cup Greek extra virgin olive oil 2 medium onions, chopped fine 1 large octopus, about 2kg (cleaned and kept whole) 3/4 cup dry red wine 1/3 cup...

Homemade lemonade

Ingredients: 1 cup lemon juice 1 cup sugar Method: Thoroughly wash the lemons with soap and warm water. Roll each lemon with the palm of your hand, pressing...

‘Striftaria’ mini cheese pies

Ingredients 1 ½ cup milk 2 tbsps. flour 4 tsps. of butter 3 eggs, slightly beaten + 1 extra with 1 tbs. of milk for spreading 1 pack of...

Mini potato canapes baked on salt

Ingredients Serves: 12 1kg small Cypriot potatoes rock salt, as needed 250g salted butter 300ml full fat cremé frâiche 1 pot cod or salmon roe Method Prep:20min › Cook:35min › Ready in:55min Take...