COST OF EATING OUT SOARS 26% SINCE 2023

COST OF EATING OUT SOARS 26% SINCE 2023 - Cy Mail 18/9 by Johanna Pauls


Eating out has become significantly more expensive in Cyprus over the last three years, with a meal out that cost €100 in 2023 now amounting to an average of €126 – an increase of 26 per cent, date released on Friday showed.

Secretary general of the hospitality venues association (Pasika) Fanos Leventis attributed the increased costs to a rising prices for energy and alcohol.

“The fact that there are increases is indisputable. The fact that the increases are justified is also indisputable,” he said.

KYRENIA FERRY ONLY UNDERWENT 'SUPERFICIAL' REPAIRS AFTER CRACK APPEARED IN JUNE

KYRENIA FERRY ONLY UNDERWENT 'SUPERFICIAL' REPAIRS AFTER CRACK APPEARED IN JUNE - Cy Mail 18/9 by Tom Cleaver


The ferry which sank off the coast of Kyrenia last month had only undergone “superficial” repairs in June after a crack appeared on its left side, the Turkish Cypriot Kyrenia district court heard on Friday, as proceedings continued against the nine people accused of causing death by negligence in the disaster.

According to newspaper Yeniduzen, a police representative told the court that according to photographs recovered from the first mate’s mobile phone, the repairs were carried out on June 17 by the boat’s captain and crew.

Those repairs were carried out just 15 days after Istanbul-based ship classification firm Turk Loydu had certified the boat as seaworthy.

PETROL STATION OWNERS WARN OF MORE PRICE INCREASES AT PUMP

PETROL STATION OWNERS WARN OF MORE PRICE INCREASES AT PUMP - Cy Mail 18/9 by Tom Cleaver

The price of fuel at the pump is expected to increase further in the coming weeks, petrol station owners’ association chairman Savvas Prokopiou warned on Friday, with recent developments in the ongoing conflict in the Middle East having pushed the price of oil to its highest level since May this week.

“We, as petrol station owners, are unfortunately monitoring the successive increases which generally affect both our industry and other industries. Based on experience, we expect a few more increases,” he told the Cyprus News Agency.

He added that “we do not exactly know how many cents the price will increase by”, but said that “we have seen increases of one or two cents [per litre] in the past, so there may be a few more increases of this level”.

CYPRUS WASTE SYSTEM A 'TICKING TIME BOMB'

CYPRUS WASTE SYSTEM A 'TICKING TIME BOMB' - Cy Mail 17/9 by Elias Hazou


Waste treatment in Cyprus is a ‘ticking time bomb’, MPs heard on Thursday as officials admitted that the system in place can barely cope.

Officials from the Environment Department described the Pentakomo treatment plant as a “ticking time bomb” when they took over from a private contractor.

The officials conceded that the situation “is still not optimal” but that it has improved.

CYPRUS BANKS TO CLOSE FOR NATIONAL HOLIDAY 1 OCTOBER

CYPRUS BANKS TO CLOSE FOR NATIONAL HOLIDAY 1 OCTOBER - Cy Mail 18/9 by Kyriacos Nicolaou

The Central Bank of Cyprus (CBC) has confirmed that all banks in Cyprus will be closed on Thursday, October 1, 2026, for Cyprus’ independence day.

The closure means customers will not be able to carry out routine in-branch banking services on the day, although digital and online banking services are expected to remain available.

Businesses should also take the closure into account when planning payments, cash deposits and other transactions that require access to physical bank branches.

Banks will resume normal operations after the holiday.

OIL - ARAMCO HALTS DELIVERIES TO EUROPE

OIL - ARAMCO HALTS DELIVERIES TO EUROPE - Filenew 19/9


Saudi Aramco has informed at least two European refineries that it will not deliver crude oil to them next month, following a drone attack on Saudi Arabia's main pipeline to the Red Sea, according to sources cited by Bloomberg.

European customers typically source Saudi crude through contracts that ensure fixed monthly quantities. These deliveries will not take place next month, while, according to the same sources, the decision concerns all European buyers.

CYPRUS IN GRADE ''A'' BY S&P WITH A POSITIVE OUTLOOK - FIRST TIME SINCE 2010

CYPRUS IN GRADE ''A'' BY S&P WITH A POSITIVE OUTLOOK - FIRST TIME SINCE 2010 - Filenews 19/9


S&P Global Ratings upgraded the credit rating of the Republic of Cyprus from "A-" to "A", while maintaining the positive outlook, with Cyprus returning to "A" rating for the first time since 2010, according to a statement from the Ministry of Finance.

It is added that "this upgrade is taking place at a time when the international environment is characterized by intense geopolitical uncertainties, which exert significant pressures on economies worldwide and have serious economic and social consequences. S&P's decision reflects its confidence in the strong fundamentals of the Cypriot economy, as well as in its resilience to the effects of the adverse international environment."