In summary, the Central Bank of Cyprus’s adjustment of the reference interest rate to 11.42% is a critical move to control borrowing costs, influence loans, and maintain price stability. It plays a vital role in regulating the Cypriot economy and ensuring fair lending practices, preventing usury in the financial sector.
The Larnaca Court sentenced a 29yearold man to five years in prison for trafficking illegal drugs after finding 1.6 kg of cannabis in his vehicle and an additional 269 grams at his residence, leading to a conviction for possession with intent to supply. The ruling highlights the efforts of YKAN in Larnaca to combat drug trafficking and sends a clear message about the consequences of such illegal activities in Cyprus.
The suspects involved in the bold muggings in Limassol are set to appear in court soon, with the community eagerly anticipating the legal proceedings. Two 21yearold men from the Turkish Cypriot community were apprehended after targeting unsuspecting women on motorcycles, robbing them of their belongings. The recovery of stolen items and the impending court date offer hope for justice and a deterrent to future criminal activity in the area.
Ed Sheeran is set to deliver an electrifying performance in Cyprus on September 8, the grand finale of his ‘+ – = ÷ x’ Mathematics Tour. Tickets for this highlyanticipated concert are still available, but selling fast, so fans should act quickly to secure their spot through Ticketmaster Cyprus’ official website.
The dispute between Mayor Andreas Vyras and Kition Ocean Port is escalating in Larnaca over new fees and promised renovations. The mayor’s public outcry against the port developer’s actions reflects a deep concern for the impact on local businesses and the community’s economic wellbeing.
The Economics Research Centre forecasts Cyprus’ GDP growth rate to be 2.6% in 2024, rising to 3.3% in 2025, with inflation predicted to decrease to 2.0% in 2024 and 1.9% in 2025, showing a promising economic outlook despite global challenges. The positive forecast from the Economics Research Centre at the University of Cyprus points to strong growth and lower inflation rates, backed by the island’s resilient domestic activities and labor market.
George Varnava’s resignation from Edek was fueled by accusations of political persecution and financial impropriety against party leader Marinos Sizopoulos. Varnava criticized the party’s departure from socialist principles, citing a transformation into a ‘small shop’ for personal interests and a tarnishing of its integrity.
Spring is here! In Cyprus, Lofou, Oroklini, and Akrotiri are gearing up for festive celebrations. From popup markets and live music to birdwatching and guided walks, these events promise a weekend full of fun and learning for all.
The collapse of the Isias hotel in Adiyaman, leading to 35 fatalities, has sparked a legal showdown as 11 individuals face charges for “causing death by conscious negligence,” potentially facing 22.5 years in prison. The trial probes the hotel’s structural integrity and regional building safety concerns, shedding light on the tragic event’s aftermath and the community’s quest for justice and prevention.
The ambulance in Nicosia collided with cars due to veering into oncoming traffic while responding to an emergency, prompting an investigation to prevent future incidents. Despite the urgency and care of the paramedics, the collision occurred when the ambulance crossed the median into opposing lanes, resulting in injuries and a scene of chaos and concern.
