The Central Bank of Cyprus (CBC) has emphasized the importance of social sensitivity in pricing and overall business practices, while reassuring that the financial sector remains stable and prepared to handle any unforeseen challenges. This call came as part of its 2023 Financial Stability Report, released on Tuesday. The report highlighted the need for financial institutions to safeguard against...
The leader of the opposition party Disy, Annita Demetriou, emphasized the need for a comprehensive approach to tackling the shortage of affordable housing during a press conference on Monday. Meanwhile, the government has pledged to introduce more initiatives aimed at helping young people enter the housing market. Demetriou pointed out that while government efforts are moving in the right direction,...
During the presentation of the 2025 state budget to the House finance committee on Monday, Finance Minister Makis Keravnos highlighted several significant internal and external risks impacting the Cypriot economy. While the economic outlook remains positive, Keravnos emphasized that the level of uncertainty is still high, primarily due to global challenges such as the ongoing war in Ukraine and the...
The Cyprus Securities and Exchange Commission (CySEC) has announced that it will no longer accept applications for the registration of Crypto Asset Service Providers (CASPs). This decision aligns with the implementation of the new EU Regulation (EU) 2023/1114, governing Markets in Crypto-Assets (MiCAR), which will come into effect on December 30, 2024. In addition to the cessation of new applications...
At a recent summit, the European People's Party (EPP) issued a joint statement stressing the urgent need for an agreement focused on migration issues, particularly those affecting the Mediterranean region. The statement was adopted after a preparatory meeting held in Brussels, where EPP leaders and opposition representatives underscored the growing challenge posed by irregular migration. The EPP leaders...
Cyprus has transformed into a modern and highly efficient shipping hub, ranking as the largest shipping management center in Europe and among the top three globally, according to Deputy Shipping Minister Marina Hadjimanoli. She made these remarks during the inauguration of the fourth Thalassa festival in Limassol, alongside Greek Shipping Minister Christos Stylianides. The festival, designed to immerse...
The ongoing debate surrounding affordable housing in Cyprus reached a new peak this week as the government and the opposition party, Akel, exchanged barbs over recent findings from the Eurostat survey. While the government sought to highlight positive aspects, Akel focused on the alarming issues at hand. The truth lies somewhere in between; a housing problem exists, but its severity is up for...
At the Digital Agenda Cyprus Summit 2024, David Rowan, founding editor of WIRED UK, delivered an eye-opening presentation on how artificial intelligence (AI) and other emerging technologies will shape the future. Held annually in Nicosia, this summit draws together leaders from various industries, innovators, and policymakers to explore the latest tech trends. Rowan's talk stood out for its mix of optimism...
Cyprus welcomed 3.27 million tourists between January and September 2024, reflecting a 4.2% rise from the same period last year, according to data from the Statistical Service of Cyprus (Cystat). This milestone also surpasses pre-pandemic numbers, with a slight 0.23% increase compared to 2019, when the island recorded its highest-ever tourist arrivals. In September 2024 alone, 509,463 tourists visited...
In 2023, Cyprus emerged as one of the best countries in the European Union for low child poverty rates, ranking second behind Slovenia, according to Deputy Welfare Minister Marilena Evangelou. This achievement highlights the country’s commitment to improving the quality of life for families and children. Speaking at a conference in Nicosia organized by the National Anti-Poverty Network (EAPN-Cyprus),...
