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/business/banks-imposing-stricter-lending-standards
Cyprus banks have tightened credit standards in the second quarter of 2022, while net new lending demand subsided, reflecting the geopolitical tensions and the uncertainty in the global economic environment, the Central Bank of Cyprus Bank Lending Survey for Q2 says....
https://knews.kathimerini.com.cy/en/news/inflation-hits-8-9-in-august
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....
https://knews.kathimerini.com.cy/en/news/photovoltaic-systems-are-increasing-in-popularity-in-cyprus
With inflated electricity prices hitting households and businesses, the installation of photovoltaic systems, or solar panels, comes as an attractive solution for more and more consumers....
https://knews.kathimerini.com.cy/en/news/gorbachev-who-steered-soviet-breakup-dead-at-91
Mikhail Gorbachev, who set out to revitalize the Soviet Union but ended up unleashing forces that led to the collapse of communism, the breakup of the state and the end of the Cold War, died Tuesday. The last Soviet leader was 91...
https://knews.kathimerini.com.cy/en/news/cypriot-economic-sentiment-at-17-month-low
The economic sentiment in Cyprus deteriorated in August to a 17-month low, as the Economic Sentiment Indicator (ESI-CypERC) decreased by 4.5 points compared with July 2022....
https://knews.kathimerini.com.cy/en/news/what-is-causing-the-unexpected-drop-in-global-food-prices
Six months after Russia's invasion of Ukraine, the inflationary shock is still causing a "headache" for markets, government staff and households, with the price of natural gas hitting new record levels yesterday....
https://knews.kathimerini.com.cy/en/news/eac-this-is-how-corrections-will-be-made-on-erroneous-accounts
Since errors in electricity bills were discovered, the Electricity authority has received thousands of Viber and WhatsApp messages and emails with photos and meter numbers from panicked consumers trying to report the problem on their own bills....
https://knews.kathimerini.com.cy/en/news/prices-of-consumer-goods-and-services-recorded-a-10-annual-increase
The harmonized consumer price index recorded in July an annual increase of 10.6%....
https://knews.kathimerini.com.cy/en/comment/opinion/op-ed-now-is-a-good-time-to-follow-the-simple-rule-of-28-36
Rising prices have been a major topic of discussion over the past few weeks. In essence, however, little can be done by individuals to mitigate the effects of rising fuel and commodity prices on a global scale....
https://knews.kathimerini.com.cy/en/news/cyprus-maintains-low-vat-and-consumption-tax-on-fuel
Cyprus maintains a very low VAT rate and lower consumption taxes on fuel compared to Germany and other EU countries, Minister of Finance Constantinos Petrides notes in a written statement....
https://knews.kathimerini.com.cy/en/business/national-credit-bureaus-crucial-in-assessing-consumer-creditworthiness
The need to assess a borrower's creditworthiness and capacity through the use of national credit bureaus was highlighted at an annual conference held by the European Association of Credit Bureaus “ACCIS” in Brussels in the past month....
https://knews.kathimerini.com.cy/en/news/fuel-a-whopping-60-more-expensive-in-2022
Cyprus Minister of Health, Michalis Hadjipantela, is in contact with his counterparts in neighboring countries, asking them to supply Cyprus with vaccines for monkeypox, the Minister's Communications Advisοr Konstantinos Athanasiou told CNA....
https://knews.kathimerini.com.cy/en/business/inflation-in-cyprus-creeps-close-to-11-in-july
Inflation in July 2022, hit the double-digit mark, recording an increase of 10.9%, with the Consumer Price Index increasing by 1.39 units and reaching 113.63 units compared to 112.24 units in June 2022....
https://knews.kathimerini.com.cy/en/business/turkish-inflation-surges-to-nearly-80
Turkish inflation rose to a fresh 24-year high of 79.6% in July, data showed on Wednesday as the lira’s continued weakness and global energy and commodity costs pushed prices higher, though the price rises came out below forecasts....
https://knews.kathimerini.com.cy/en/news/deposit-interest-rates-remained-close-to-zero-levels-in-june
Deposit interest rates remained at close to zero levels in June with lending rates showing small variations, according to data released on Tuesday by the Central Bank of Cyprus (CBC)....
https://knews.kathimerini.com.cy/en/news/greek-monuments-to-go-dark-in-winter
After this summer, it is highly likely that streets could become a little darker, historical monuments no longer bathed in artificial light throughout the night and households could face periodic outages, Environment and Energy Minister Kostas Skrekas warns....
https://knews.kathimerini.com.cy/en/business/foreign-direct-investment-in-europe-a-game-of-two-halves-current-volatility-impacts-strategy-while-long-term-appeal-instills-confidence
Europe’s attractiveness for FDI has shown signs of recovery following the COVID-19 pandemic with a 5% increase in the number of projects announced in 2021 compared to 2020, according to the latest annual EY European Attractiveness Survey....
https://knews.kathimerini.com.cy/en/business/lidl-continues-to-expand-its-stationary-trade-and-now-operates-more-than-12-000-stores-internationally
Lidl continues to expand its operation in Cyprus and is opening a new store in Limassol on Thursday, July 28. ...
https://knews.kathimerini.com.cy/en/news/increasing-electricity-costs-to-be-subsidized-by-the-government
A subsidy that will cover part of the increase in the price of electricity was hammered down during today's session by the Cabinet. As the Minister of Finance Constantinos Petridis stated, ...
https://knews.kathimerini.com.cy/en/news/germany-dims-lights-as-it-leads-europe-in-saving-energy
Summer nights in the wealthy Bavarian city of Augsburg this year are eerily dark and quiet: The facades of historic buildings are not illuminated, street lights are dimmed and most of the fountains are not operating....
https://knews.kathimerini.com.cy/en/news/single-use-plastics-banned-from-october-1st
As of October 1, 2022, single-use plastics products will no longer be available for sale or use in Cyprus....
https://knews.kathimerini.com.cy/en/news/cost-of-consumer-goods-and-services-increased-by-9-in-june
The Harmonized Index of Consumer Prices (HICP) increased by 9% in June, when compared to the index of June 2021, setting a new record high, while continuing its upward course for the 16th consecutive month, pushed by the consecutive appreciations mainly in energy prices....
https://knews.kathimerini.com.cy/en/news/cost-of-basic-consumer-goods-continues-to-rise
Prices of the vast majority of basic consumer goods continued their steady rise. Between June 8 to July 13, the largest increase was recorded in Vegetables (greenhouse cucumbers) reaching 52.2%, ...
https://knews.kathimerini.com.cy/en/business/nightmare-scenario-for-europe-as-russia-shuts-off-gas-pipeline
The main natural gas pipeline between Russia and Germany shut down for scheduled maintenance Monday, raising concerns that Moscow could use the repairs as a pretext for a longer shutdown as it wields energy supplies as leverage in the Ukraine war....
https://knews.kathimerini.com.cy/en/news/inflation-edges-closer-to-double-digits-in-june
Inflation in Cyprus in June edged closer to double-digits driven by the soaring prices in electricity and energy on the backdrop of the war in Ukraine....
https://knews.kathimerini.com.cy/en/business/a-total-of-€362-9-million-euros-in-new-loans-recorded-in-may
A total of €362.9 million euros in new loans were recorded in May, according to data released by the Central Bank of Cyprus on Tuesday. The increase in new loans is mainly due to both an increase in loans for over €1 million and loans for the purchase of homes....
https://knews.kathimerini.com.cy/en/business/alphamega-hypermarkets-more-deliveries-in-less-time
Alphamega Hypermarkets’ second distribution centre has been up and running for some time now, after being launched as part of the second phase of the Company’s e-commerce strategy. It is expected to help considerably in covering the demand island-wide for orders through the chain’s e-shop...
https://knews.kathimerini.com.cy/en/news/government-takes-steps-to-break-cyprus-reliance-on-fossil-fuels
The government today took steps to break Cyprus’ reliance on fossil fuels....
