Hellenic Bank has achieved impressive financial success in 2023, with aftertax profits reaching €240.7 million in the first nine months of the year. Key factors contributing to this success include higher interest income, a decrease in total expenses, strong capital ratios, a low nonperforming exposure ratio, credit rating upgrades, robust lending growth, and effective balance sheet management.
The Trikomo property market is experiencing soaring prices due to new luxury highrise developments, an influx of international buyers seeking refuge from regional conflicts, the “Famagusta, Trikomo, and Ayios Sergios Zoning Plan” regulating development, and historical complexities potentially reducing property supply. This surge in demand has led to apartments now selling for upwards of £200,000, marking a substantial rise from just a couple of years prior.
Welfare offices in Paphos were vandalized, causing substantial damage estimated at €1,400. The police are currently investigating the motive behind the breakin and searching for the perpetrators, while maintaining a vigilant presence at the site. Meanwhile, the local federation representing employers and industrialists has expressed opposition to proposals suggesting a reduction in the operating hours of shops, highlighting the positive impact of extended hours on employment and investment in the retail sector. Critics, however, raise concerns about the potential impact on smaller businesses. The federation argues that Cyprus’ high retail density demonstrates the vitality of flexible shop hours in catering to consumer needs and choices.
The Paphos welfare offices in the quiet city of Paphos were burglarized, resulting in approximately €1,400 in damages. Police are investigating the breakin, seeking community assistance to apprehend the suspects, and ensuring public and employee safety. No items have been reported missing at this time.
The Supreme Court upheld the dismissal of former police chief Michalis Papageorgiou due to his inadequate response to violence at an event, reflecting a broader pattern of neglect and disrespect for official duties. The ruling confirmed the President’s act was beyond judicial merit scrutiny, emphasizing the expectation for public servants to uphold their duties with integrity.
The Health Insurance Organisation (HIO) warns the public about an increase in fraudulent text messages claiming to be from Gesy. These messages ask for personal information and payment, but Gesy will never request this through text messages. It is important to report and ignore these messages to protect your information.
Foody market is revolutionizing grocery shopping by delivering groceries, including fresh produce and meats, directly to your door with the promise of 30minute delivery windows. Operating in Nicosia and Limassol from 8:30 am to 11 pm, they offer a userfriendly platform with over 5,000 items, catering to convenience and diverse consumer preferences.
Quadcode and Aris Limassol are launching a football academy in Kalavasos, fully funded by Quadcode, to nurture young talent and promote community welfare in Cyprus. The academy will provide a structured environment for children to engage in sports, fostering teamwork, discipline, and physical fitness, while also offering hope and opportunities for future generations.
Christmas in Cyprus is a vibrant celebration filled with Christmas Villages, bazaars, markets, and artisanal displays. From live music and Santa Claus to unique clothing and handmade crafts, Cyprus embraces the festive season with charm and community spirit.
The revamped Lemba Art School is set to reopen at the end of December, representing a significant cultural rejuvenation for Lemba’s cultural scene. Led by community council leader Thucydides Chrysostomou, the project includes new multifunctional spaces, workshops, and exhibition halls, reflecting a commitment to the arts and creating an environment conducive to creative exchange and lifelong learning.
