https://knews.kathimerini.com.cy/en/business/trade-deficit-jumps-to-€6-17-billion-in-january-–-october-2022
Cyprus’ trade deficit jumped to €6.17 billion for the period from January to October 2022, surpassing the deficit for the full year 2022 amounting to €5.24 billion, amid price hikes mainly driven by the war in Ukraine....
https://knews.kathimerini.com.cy/en/news/g7-price-cap-on-russian-oil-kicks-in
The Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow's ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production....
https://knews.kathimerini.com.cy/en/news/over-half-a-billion-euro-government-surplus-so-far-this-year
Preliminary General Government fiscal results indicate a surplus of €556.4 mn for the period of January-October 2022, according to data prepared and published by the Statistical Service of Cyprus on Wednesday....
https://knews.kathimerini.com.cy/en/business/europe-rushes-to-stock-up-on-russian-diesel-before-ban-starts
European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in February, as alternative sources remain limited....
https://knews.kathimerini.com.cy/en/business/cypriot-registered-ships-decrease-by-21-due-to-sanctions
A large number of tankers that previously sailed under European Union flags, such as Cyprus and Malta’s, are leaving those registers as a result of the sanctions on Russian oil transportation....
https://knews.kathimerini.com.cy/en/news/what-is-causing-the-egg-shortage
Andreas Hadjiadamos, executive secretary of the supermarket association, and Marios Antoniou, secretary general of the Pancyprian retail association, both appeared reassuring about market egg shortages....
https://knews.kathimerini.com.cy/en/news/op-ed-wim-van-aken-talks-recession-and-the-predictions-for-cyprus
We are facing a double shock. First, we had the Covid-19 shock and now the global and European economies are facing a new shock with the war in Ukraine. Both events are unprecedented for many of us....
https://knews.kathimerini.com.cy/en/business/trade-deficit-increased-by-€1-5-bln-in-first-8-months-of-2022
The trade deficit increased by €1.5 billion in the period from January to August 2022, compared to the same period of 2021, according to provisional data issued by the Statistical Service of Cyprus for August 2022. The deficit was €5,120.1 million in January-August 2022, which increased from €3,587.5 in January-August 2021....
https://knews.kathimerini.com.cy/en/news/eu-countries-approve-energy-windfall-levies-turn-to-gas-price-cap
European Union countries agreed on Friday to impose emergency levies on energy firms’ windfall profits and began talks on their next move to tackle Europe’s energy crunch – possibly a bloc-wide gas price cap....
https://knews.kathimerini.com.cy/en/news/cyprus-wants-eu-exemption-from-energy-cutback
Cyprus is gearing up to request on Friday an exemption from EU measures that would call on member states to reduce their energy demand as well as cap company profits from Russian oil...
https://knews.kathimerini.com.cy/en/news/ec-says-no-to-price-cap-proposal
Defying calls from the 15 EU countries and voices among European commissioners, Commission President Ursula von der Leyen has decided not to propose a price cap on gas imports, according to Politico....
https://knews.kathimerini.com.cy/en/news/anna-luhrmann-speaks-to-k-with-a-view-to-strengthening-cypriot-german-relations
German State Secretary for Foreign Affairs Foreign Affairs, Anna Luhrmann, arrived in Cyprus on an official visit and spoke to "K" about the current developments in the eastern Mediterranean and the war in Ukraine. ...
https://knews.kathimerini.com.cy/en/business/ecb-hikes-up-interest-rates-75-basis-points-to-1-25
The European Central Bank raised its key interest rates by an unprecedented 75 basis points on Thursday and signalled further hikes, prioritising the fight against inflation even as the bloc's economy is heading for a likely winter recession....
https://knews.kathimerini.com.cy/en/news/eu-plans-to-cap-gas-prices-risking-cutoff-from-russia
The European Union proposed a price cap on Russian gas on Wednesday hours after President Vladimir Putin threatened to halt all supplies if they took such a step, raising the risk of rationing in some of the world’s richest countries this winter....
https://knews.kathimerini.com.cy/en/news/turkey-doubles-russian-oil-imports-filling-eu-void
Turkey doubled its imports of Russian oil this year, Refinitiv Eikon data showed on Monday, as the two countries are set for broader cooperation in business and especially energy trade in the face of western sanctions against Moscow....
https://knews.kathimerini.com.cy/en/business/cyprus-produces-more-honey-for-export-outside-the-eu
Honey imports into Cyprus from countries outside the European Union decreased in the period 2016 - 2021, while honey exports to countries outside the EU increased in the same period, according to data published by Eurostat on the occasion of World Bee Day United Nations on August 20....
https://knews.kathimerini.com.cy/en/news/russia-sending-money-to-turkey-for-the-$20-billion-akuyo-nuclear-plant
A Russian state-owned company is transferring money to a subsidiary that’s building a $20 billion nuclear power plant on Turkey’s Mediterranean coast, alleviating concerns the project could be delayed by war sanctions....
https://knews.kathimerini.com.cy/en/news/europe-agrees-to-compromise-deal-on-gas-rations-as-russia-squeezes-supply
European Union governments agreed Tuesday to ration natural gas this winter to protect themselves against any further supply cuts by Russia as Moscow pursues its invasion of Ukraine....
https://knews.kathimerini.com.cy/en/news/sri-lankan-president-flees-country-amid-devastating-economic-crisis
Sri Lankan President Gotabaya Rajapaksa fled the country on Wednesday and hundreds of protesters stormed the prime minister's office demanding his ouster, as a people's uprising over a devastating economic crisis overwhelmed security forces....
https://knews.kathimerini.com.cy/en/news/trade-deficit-increased-to-€2-967-6-million-for-the-period-january-–-may-2022
The trade deficit was €2,967.6 mn in January – May 2022 compared to €2,265.8 mn in the corresponding period of 2021, according to provisional data, published by the Statistical Service on Monday....
https://knews.kathimerini.com.cy/en/news/eu-leaders-tackle-inflation-energy-shocks-from-russia-s-war
A day after endorsing Ukraine’s candidacy to join the European Union, the bloc’s leaders turned their attention Friday to the severe economic turbulence looming over the coming months as the full impact of Russia’s war sinks in and the threat of recession rises....
https://knews.kathimerini.com.cy/en/business/germany-a-step-closer-to-rationing-after-russia-cuts-gas-supplies
The German government formally placed its energy market on a war footing Thursday over Russia's sharp reduction of gas supplies, telling households to reduce consumption and warning that industrial output will be hit.
...
https://knews.kathimerini.com.cy/en/news/russia-accuses-west-of-spreading-lies-about-causes-of-world-s-food-crisis
Russia on Wednesday said the West was spreading lies about the causes of the global food crisis which Moscow said was being stoked by the sanctions imposed on Russia by the United States and European Union due to the invasion of Ukraine....
https://knews.kathimerini.com.cy/en/news/cyprus-plays-supporting-role-in-lng-arena
After years of trying to locate and extract natural gas from its EEZ, Cyprus' prospects continue to stagnate due to the current geopolitical conditions, the Cyprus issue, and the fact that the research, although promising, has not yet yielded the large quantities that were found in the EEZ of Egypt and Israel....
https://knews.kathimerini.com.cy/en/news/euroasia-interconnector-will-help-free-eu-from-energy-dependence
Tapping into Israel’s vast renewable sources of energy will help reduce the EU’s dependence on Russia, European Commission President Ursula von der Leyen said during her visit to Israel, highlighting the importance of Cyprus and Greece in securing energy supply....
https://knews.kathimerini.com.cy/en/comment/opinion/op-ed-the-dilemmas-of-war-and-pandemic
Cyprus is a small country with a large export sector of services, which makes it vulnerable to its external environment. An external shock is felt faster and more intensely.
...
https://knews.kathimerini.com.cy/en/news/turkey-buying-stolen-ukrainian-grain-from-russia
Kyiv's ambassador to Ankara said on Friday Turkey is among the countries that is buying grain that Russia stole from Ukraine....
https://knews.kathimerini.com.cy/en/news/europe-agrees-to-ban-90-of-russian-oil
European Union leaders agreed Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support....
https://knews.kathimerini.com.cy/en/news/european-unity-tested-as-talks-on-russian-oil-embargo-drag-on
Europe's united front against Moscow is being put to the test as countries struggle to agree on a ban on Russian oil imports....
https://knews.kathimerini.com.cy/en/news/zelenskiy-stop-playing-around-with-russia-end-war
President Volodymyr Zelenskiy urged the West to stop playing around with Russia and impose tougher sanctions on Moscow to end its "senseless war" in Ukraine, adding his country would remain independent, the only question was at what price....
