Outgoing Association of Cyprus Banks president Panicos Nicolaou on Wednesday defended Cypriot banks from the torrent of criticism that they received this past year, particularly after the decision to increase bank charges, which was announced towards the end of 2021.

The Finance Ministry welcomed a decision by the Council of Ministers on Wednesday to establish an innovation zone and a business zone/exhibition space at the Cyprus International Fair site.

The government on Wednesday spun the new minimum wage in a positive light, saying that in terms of purchasing power, the €940 a month, seen by unions as inadequate, was in fact worth €1,036 in terms of purchasing power standards (PPS).

Three decades after its rejuvenation, Larnaca’s historic Finikoudes promenade is set to get a modern new ‘face’, Philenews reported on Thursday.

The hourly labour costs (total cost) rose by an annual 5.2% in the second quarter of 2022, according to provisional data by the Statistical Service of Cyprus.

Finance Minister Constantinos Petrides on Wednesday that Cyprus is expected to join the list of countries that have issued green bonds, with the first issuance of green loans expected to arrive before the end of 2022.

In a competitive job market, it is not so easy to get hired. The main issue students face when job hunting is lack of experience. Employers today tend to pay attention to the level of higher education that job applicants have received but usually pay even more attention to the work experience they have gained throughout their studies, especially for entry level jobs. In fact, 95% of employers state that they look at a graduate’s work experience. If you find yourself looking at job descriptions and realize that you do not possess the necessary skills and relevant work experience in order to apply for the job, you may find that doing an internship can aid in increasing your future employability.

Direct flights from Cyprus to Saudi Arabia are on the cards, and tourism prospects between the two countries in 2023 have become more than promising, Philenews reports.

Agriculture Minister Costas Kadis has warned food retailers but also cheese producers that as of Monday, the only halloumi up for sale should have a Protected Designation of Origin (PDO) logo. He also stated that no further extension to the implementation of the necessary by law PDO specifications will be granted, Philenews reported on Wednesday.

The European Union’s securities watchdog will set out temporary market fixes by September 22 to ease a liquidity crunch faced by energy firms, the bloc’s executive body said on Wednesday, as the prospect of winter fuel rationing, company insolvencies and recession loomed.