Finance Minister Constantinos Petrides on Saturday welcomed Cyprus’ upgrading by American credit rating agency S&P, which has revised the country’s credit rating from BBB-/A3 to BBB/A2 with a stable outlook.

Cyprus’ banking network has shrunk by a quarter in the past three years, as many branches have closed and the workforce reduced as banks go digital.

Architect and founder of the eponymous firm Yiannis Armeftis on Thursday said that environmental policies and the various measures that facilitate them could help mitigate the severe energy crisis currently plaguing Cyprus and the European Union.

Cyprus’ economy is on the rebound following two and a half years of coronavirus restrictions, as indicators perform better than in pre-pandemic 2019.

Presidential candidate, Constantinos Christofides on Friday, proposed a solution to water loss from dams by evaporation, which he claims would result in savings upwards of €20 million per year.

The Minister of Agriculture, Costas Kadis, expressed his satisfaction with the production of halloumi so far as a Protected Designation of Origin (PDO) product.

Cyprus’ borrowers were highly impacted in July following the European Central Bank’s decision to increase its benchmark deposit rate by 50 basis points to 0%.

Cyprus is set to become the World Health Organisation’s (WHO) hub on the fringes of Europe, the Middle East and Asia by the end of 2022.

Inflation in August 2022 increased by 8.9% in Cyprus, according to data published by the Statistical Service of Cyprus on Friday. The Consumer Price Index decreased by 0.29 units and reached 113.34 units, compared to 113.63 units in July 2022, with the drop in petroleum product prices being mainly responsible for the decrease.

More than 100 inbound flights per week will arrive at Paphos airport during the winter 2022-2023 season, a Paphos Regional Board of Tourism press release said.