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1. ECB set to cut key interest rate by 0.25% in upcoming meeting

The European Central Bank (ECB) is expected to reduce its key interest rate by 0.25% on Thursday, according to most economists in Greece and the Eurozone....

2. Cyprus sees higher borrowing costs, lower deposit rates in July

Interest rates on consumer loans and mortgages in Cyprus increased in July, according to the Central Bank of Cyprus (CBC). The rate for consumer credit climbed to 6.67% from 6.18% in June, while the rate for home loans rose to 4.59% from 4.52%....

3. The MyPetrolina App ''Drives'' You to Alphamega Hypermarkets!

4. Back-to-school shopping spikes as prices fluctuate

in an article written by Kathimerini's Anna Polyviou, back-to-school shopping is in full swing with the new school year just around the corner. Consumers scramble to buy essentials like clothing, footwear, stationery, and school bags, taking advantage of a wide variety of products and offers to suit their needs and budgets....

5. ECB cuts Cypriot bond holdings to €6.38 billion

The value of Cypriot sovereign bonds held by the Eurosystem, as part of the Public Sector Purchases Programme (PSPP) and the Pandemic Emergency Purchases Programme (PEPP) declined to €6.38 billion......

6. School bags in Cyprus priced from €3.99 to €209.95

The Cyprus Consumer Association is advising parents and students to be vigilant when shopping for school supplies, as a recent survey reveals a significant variation in prices across the market....

7. Kamala Harris unveils economic plan with tax cuts and housing focus

Vice President Kamala Harris is set to present a comprehensive economic plan during a major policy speech in Raleigh, North Carolina, on Friday....

8. Women entrepreneurs hit hard by Turkey's Instagram shutdown

Turkey's decision to block access to Instagram has dealt a significant blow to female entrepreneurs who rely on the platform to market and sell products ranging from homemade cookies to baby bedding....

9. Cyprus sees significant uptick in new loans

In June 2024, new loans in Cyprus substantially increased, reaching €330.6 million, up from €234.9 million in May. Data from the Central Bank of Cyprus (CBC) show that total new loans, which include both new and renegotiated contracts, climbed to €514.9 million from €391.6 million the previous month....

10. EU plans two-phase trade strategy if Trump wins presidency

Brussels is developing a two-phase trade strategy in response to the potential nomination of Donald Trump in the upcoming U.S. presidential election in November....

11. Apartment prices up 13.9% yearly, house price growth slows

In the first quarter of 2024, house price growth showed a slight slowdown, while apartment prices continued to rise....

12. EU court rules against secrecy in COVID-19 vaccine contracts

The European Commission was wrong to limit public access to certain details in contracts for COVID-19 vaccines, according to a ruling from the EU's second-highest court on Thursday....

13. Surge in corporate loans despite interest rate hike

The Central Bank of Cyprus has released its latest data revealing notable shifts in financial trends for May 2024. Despite a 0.52% uptick in lending rates for non-financial corporations borrowing amounts over €1 million, new loans to these entities surged by 10% compared to the previous month. ...

14. Luxury retailers Saks and Neiman Marcus merge in big deal

A new luxury retail giant is emerging in the United States as the parent company of Saks Fifth Avenue acquires Neiman Marcus for $2.65 billion....

15. Dior bags assembled for €53, sold at €2,600

Italian authorities have uncovered stark realities behind the glitz of fashion catwalks and luxury boutiques during recent raids on local factories and workshops involved in the production of Dior and Armani handbags....

16. Cyprus plans €3.1B climate investment by 2030

Cyprus’ total investment on climate change in both EU and public funds as well as private investments are estimated to amount to €3.1 billion by 2030, the Finance Ministry has said....

17. Alphamega Hypermarkets ''Play Ball'' giving away gifts for the Euro 2024

The moment all footballer lovers across Europe have been waiting for is almost here, and for yet another time, Alphamega Hypermarkets could not be missing from this huge sporting celebration....

18. Enjoy summer savings: Up to 50% off with Wolt+ weeks

Over 650 offers and discounts of up to 50% for Wolt+ subscribers until June 23....

19. Critical shortages of Ozempic spark health concerns in Cyprus

The availability of injectable diabetes medicine, such as Ozempic, has reached critical levels in Cyprus, sparking concerns among health authorities and patient advocates....

20. Household deposit rates surge as home buying loan rates dip

In March 2024, the financial landscape in Cyprus saw some interesting shifts, according to data released by the Central Bank of Cyprus. Here's a breakdown of what happened:...

21. ECB maintains €6.76 billion worth of Cypriot government bonds

The value of Cypriot government bonds held by the European Central Bank remained steady at €6.76 billion by the end of April. This is part of the ECB's efforts to scale back its holdings and control inflation....

22. Shoppers prioritize food purchases over clothing this Easter

Supermarkets saw increased consumer traffic the days before Easter, celebrated in Cyprus over the last weekend, as consumers chose to spend on food and items for the holiday feast, while other retail stores did not, due to a decline in the habit of shopping for shoes and clothing during this holiday....

23. Consumer Agency reports stable Easter prices with some increases

Prices of 18 Easter products are holding steady at last year's levels, with some exceptions showing significant increases, according to findings from the Consumer Protection Agency under the Ministry of Energy, Trade, and Industry....

24. European airfares hit 20-30% increase from 2019 to 2023

Throughout the summer of 2023, air travel across Europe witnessed a significant uptick in prices, with fares soaring 20 to 30% higher compared to pre-pandemic levels in 2019, according to recent data from E data.E. released in October....

25. Cyprus lags in online book shopping

Cyprus ranked lowest in the European Union for online purchases of printed or digital books, magazines, or newspapers in 2023, according to Eurostat data released on World Book Day. ...

26. Authorities stumped on declared cash

The question of the whereabouts of over 90 million euros in cash allegedly spent by travelers arriving in Cyprus through Larnaca and Paphos airports in the last 15 months remains unanswered by competent state authorities....

27. Occupied territories are a 'black hole' for illicit funds

The recent update to the US-UK sanctions list, active since last April and aimed at Russia, continues to scrutinize Cypriot-based entities suspected of violating the Russian embargo. ...

28. Prices on the rise

The Consumer Protection Agency has released its latest report on product prices for February 2024, focusing on 250 key consumer items sold across 400 stores nationwide. ...

29. KEDIPES preps for major loan sell-off, boosting Cyprus banks

In a strategic move to streamline its assets, KEDIPES is gearing up to offload a second batch of performing loans, hot on the heels of its €58 million deal with the Bank of Cyprus....

30. Putin's blackmail fails to halt green transition

Ursula von der Leyen, the president of the European Commission, stated on Tuesday that Vladimir Putin's attempts at "blackmail" have backfired, hastening the EU's shift toward green energy. ...