For many Chelsea fans, the transition from Russian billionaire Roman Abramovich to US tycoon has resembled a train crash rather than a passing of the torch. The reigning World Club Champions (yes, we still are) are languishing tenth in the Premier League, knocked out of both domestic cup competitions and playing without confidence. In short,
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Following a hard-hitting article in Phileleftheros on 5 January calling the project a ‘fiasco’, we had a flurry of announcements from the Ministry of Energy during the last few days. The good news is that construction of the jetty at Vasilikos is to start on 16 January, following long delays – the contracted project completion
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The Transport Ministry will extend the first phase of a €3.7 mln scheme for 1,000 electric vehicle charging stations across the country until the end of April 2023. Approved by the Cabinet in November last year, the scheme will be implemented in two phases, with grants for 500 charging stations being handed out each round.
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One wonders what is in store regarding real estate in Cyprus in the year ahead. The past year saw a positive trend, with new sales showing a 35% increase in real estate contracts. At the same time, it is worth noting the increase in the acquisition of real estate by foreign buyers by approximately 100%
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Most of the roads flooded in the Paralimni, Protaras and Ayia Napa areas following the overnight torrential rains, reopened by late Saturday. The flooding caused damage to shops, apartments and some small hotels in the popular tourist areas, with the red mud flowing down the roads ending up in the sea. The Fire Service said
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Police executed a search warrant at the home of a National Guard officer who had incited homophobia and hate speech in a video he posted on social media platform Tik Tok. In comments to Phileleftheros daily, police spokesperson, Christos Andreou, confirmed that officers had searched the house of the NCO, confiscating a laptop and other
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Unemployment is rising, with stakeholders in the labour market saying there is a mismatch between vacancies and jobseeker skills, as employers cannot find qualified staff. A recent CyStat survey showed the number of unemployed registered at the District Labour Offices in December reached 16,132, increasing 9% annually. Seasonally adjusted, the number of unemployed drops to
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The ball of string around the automatic cost of living adjustment on wages is unravelling. The Labour Minister allows more days for opposing sides to submit their final positions on the dispute, which, if unresolved, could lead to an ugly standoff. Nobody wants to suffer from strikes, especially a few weeks away from the next
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The end of 2021 saw Europe’s and Cyprus’ economies gradually recovering from the two-year rollercoaster ride of lockdowns, the stock market at record highs, and inflation increasing. One year later, the disruptions in the supply chain are less severe (e.g., the global container freight index is down 74% from $9,304 to $2,404), the stock market
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By Craig Erlam It’s been another lively week in financial markets and one in which investors have become increasingly hopeful that 2023 won’t be as bad as feared. In a way, the week started with the jobs report the Friday before as this enabled the enthusiasm to build. The labour market has been a major
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