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.

The finance ministry’s general directorate for development is steaming ahead to implement landmark projects to secure the second €85 million tranche of funds from the EU recovery and resilience plan, its head said on Friday.

The accommodation and catering services sector showed the largest annual increase in the turnover index during the second quarter of 2022, reflecting the recovery of the tourism industry, according to a report released on Wednesday by the Cyprus Statistical Service.

Preparations to open primary schools for thousands of students on September 12 are almost complete, the Education Ministry’s director of primary education, Dr Marios Stylianides said on Thursday.

The establishment of the minimum wage in Cyprus, which was set at €885 for the first six months of employment, increasing to €940 gross per month, will have a major impact on one-quarter of Cyprus' labor market. 40,000 workers will benefit in a big way, and 60,000 of them will also benefit but to a lesser extent.

The rate of organ donation in Cyprus remains very low compared to other European countries, Health Minister Michael Hadjipandela said on Thursday, adding that 173 transplants from living donors and 80 from posthumous donors have been carried out in Cyprus since 2011.

The European Medicines Agency has given a positive opinion on the use of the first two variant-adapted COVID-19 booster vaccines, produced by BioNTech-Pfizer (Comirnaty) and Moderna (Spikevax) to protect against the Omicron BA.1 subvariant.