ECONOMY The year-long trial will evaluate the digital currency's technology, payment systems and user experience before any decision on its launch. Photo credit: Unsplash Cyprus joins ECB digital euro pilot programme Newsroom Cyprus will be among the 19 eurozone countries participating in the European Central Bank's first pilot programme for the digital euro, with testing expected to begin in the second half of 2027. READ MORE
Tax incentives for businesses looking to relocate to Cyprus The Cyprus government wants to attract talent and promote headquartering to benefit economy Source: CNA 10/05/2022 | BUSINESS
Trade deficit at €429 million in February and €729 million in March According to preliminary data published by CyStat Source: CNA 10/05/2022 | BUSINESS
Labor inspections island-wide during the month of May Ministry cracks down on undeclared labor Source: CNA 10/05/2022 | BUSINESS
Price hike of raw materials affecting developers and construction costs The cost of iron last year was €450 per tonne, while currently, prices are between €1,150 to € 2,000 per tonne. 09/05/2022 | BUSINESS
English will be used in newly established commercial and maritime courts The move will further strengthen commercial activity and shipping in our country, according to Justice Minister Drakos Source: CNA 06/05/2022 | BUSINESS
Mercedes launches first self-driving tech in Germany The S-Class and the all-electric EQS, will soon be able to be ordered with conditional self-driving tech 06/05/2022 | BUSINESS
Lower interest rates on deposits and consumer loans Small increase in mortgage rates, while NPL's increase slightly to 11.7% Source: CNA 05/05/2022 | BUSINESS
#LidlEcoHacks: Lidl Cyprus’ new ecological digital initiative We support the sustainability of our planet by changing our daily habits. 05/05/2022 | BUSINESS
Turn seawater into drinking water with the push of a button MIT researchers have developed a $50 portable desalination unit that uses less power than a cell phone charger 05/05/2022 | BUSINESS
